“OUTLOOK ON MEMPHIS REAL ESTATE FOR 2014 AND BEYOND” 2-15-14
Highlights from the podcast:
QUESTIONS FOR MAYOR MARK LUTTRELL:
- 1. As a broad overview, what is your outlook for Memphis Real Estate in 2014 and Beyond?
- 2. You have spoken of your vision for Shelby County Livability under the Metropolitan Planning Organization MPO. You talked about your priorities to focus our goals and budget on Affordable Housing, Access To Jobs, Quality Schools and Safer Streets. Can you talk a little more about these initiatives and how they directly will impact the value of our real estate in Shelby County?
- 3. We have just come through a grueling property tax reappraisal process where we saw property tax assessment values drop significantly, cutting into the county’s revenue source. One of the responses to the budget shortfall was to raise the real estate property tax rate. What are some alternative sources of revenue or budget cutting solutions do you see for Shelby County that would take some of the pressure off property owners?
- 4. Back in July 2013, our Real Estate Mortgage Shoppe program collected comments and letters from people in Shelby County about their ideas on how to create alternative revenue streams to take some of the pressure off of Shelby County residential and business real estate property owners.
We got letters from people like Trey Heath from the Economic Development Growth Engine EDGE that talked about the importance of the Payment In Lieu of Taxes Program (the PILOT programs) that encourage businesses to locate in Shelby County as opposed to other locations. We had other letters and comments from others like Walker Uhlhorn who was not necessarily for PILOTS but for Free Enterprise.
What are your thoughts about the PILOT program and any other programs you would like to discuss?
Another letter from our listeners to our leaders was from Mark Ruleman concerning the Roots Program. Mark writes, “Few ideas address as many of Memphis’ needs as Roots Memphis may.
A local effort at a national urban farming revolution that educates, helps unemployed, underemployed, provides food and healthy dietary alternatives while bolstering neighborhoods’strengths possibly ultimately decreasing cities’ expenses to maintain blighted inner city areas.
(Mayor Luttrell: Please let me know if we can change the wording in these questions to better allow you to get your points across to our audience. Please supply additional questions that we can pull from to ask you in the interview)
Questions to Mayor Luttrell cont’d
- 5. What sells our community?
- 6. What are some of our upcoming challenges?
Kindness Korner: Lynn McDonald awards Spirit of Kindness Award to Lynda Drake of Crye-Leike. Lynn is a certified champion of the Kindness Revolution and also an insurance agent for Erin McDonald Allstate Insurance Agency (901) 849-7101
Real Estate Tip Of The Week:
Good morning Memphis and across the country on IHEART radio! We’re back together again around the coffee table on the Real Estate Mortgage Shoppe program. I’m your host, Jo Garner, mortgage professional with Evolve Bank and Trust. Tom King, Shelby County real estate property tax appeal expert with King and Vaughan Consulting is sitting around the table with us again.
(Jo) Some of our regular listeners know about our Magic Binoculars. You look through one end of them and you can see back into the murky mist of Memphis past. Turn them around and look through the other end and you can see into the future—but the lenses are a little foggy looking through that end. BUT… We have the famous Magic Binoculars in the studio today and we will be taking a peak through them with our very distinguished guest, Shelby County Mayor Mark Luttrell. We’ll be talking with Mayor Luttrell about “Outlook On Memphis Real Estate For 2014 And Beyond.”
Mayor Mark Luttrell, what an honor and a pleasure to have you around our coffee table today.
- I can’t wait to jump into the Memphis real estate topic with you. Before we jump into the real estate outlooks for Memphis, let’s take a moment to look at the current mortgage market outlook for this past week Feb-10th through Feb 13th 2014—Mortgage rates moved up to a 2-week high yesterday even though the Industrial Production report was weak, which usually helps bonds sending mortgage rates lower, but not yesterday. Mortgage rates are still good though ending the day around 30YR FIXED – 4.375%-4.5%
- FHA/VA – 4.0%
- 15 YEAR FIXED – 3.375-3.5%
- 5 YEAR ARMS – 3.0-3.50% depending on the lender
Right now the outlook from my viewpoint for Memphis in 2014 is that we will be one of the hottest real estate markets in the nation. According to CoreLogic Case-Shiller’s latest home price forecast Memphis will see some of the biggest increases in home prices in 2014 in the nation.
We want to hear from you, our listeners, so call us on the air at 901 535-WREC. That number to call us on the air is 901 535 9732.
Tom King, what is YOUR outlook on real estate in Memphis in 2014?
(Jo) I have been hearing from Memphis realtors that inventory of homes for sale is a little thin right now and the supply of available foreclosures and short sale bargains are not as plentiful as they used to be. What I AM seeing through the Magic Binoculars are opportunities to pick up bargain priced real estate property that need renovation and repair. The very first home I purchased many years ago was a fixer-upper. I bought it for about half of the value and put some repairs into it all funded through a mortgage product. It was the best deal I have ever made..so far. Not many financial institutions have adequate loan programs that help buyers and investors buy real estate and even loan them the rehab money. BUT I DO HAVE NOT ONE BUT TWO renovation and repair loans. One is the FHA 203K renovation and repair loan program with minimum of 3.5% down payment. The other program is a conventional program that can be used by people buying to LIVE in the property or investors. Minimum down for people buying or refinancing as owner occupants is only 5%. This program can also be used to purchase and fix up the Fannie Mae Homepath Renovation properties and much more. Call me and let’s get your preapproved and ready to make money buying a fixer upper . You can reach me directly at 901 482-0354. That number again is 901 482 0354 or catch me on my blog at www.mortgageloansblog.com
- 7. But enough about my outlook or Tom’s on Memphis real estate—we have a VERY distinguished guest around the table with us today—Mayor Mark Luttrell. Our general topic today is “Outlook For Memphis Real Estate For 2014 And Beyond.” Mayor Luttrell, As a broad overview, what is your outlook for Memphis Real Estate in 2014 and Beyond?
2ND SEGMENT: KINDNESS KORNER (2 to 3 minutes approx.)
(“It’s A Wonderful World” Song from Louis Armstrong starts playing and Lynn McDonald of Erin McDonald Allstate Insurance Agency starts announcing the Kindness Korner)
“The Kindness Revolution™ is a national not-for-profit initiative headquartered in Memphis and active in over 150 cities across the country. Their mission is to raise the awareness of values, such as kindness, in leadership, customer service, schools, and communities. One of the ways they do this is to recognize the kindness of local citizens, such as Lynda Drake, support staff with Crye Leike Realtors. “Lynda Drake represents the values that we deem so important to our children and our communities and we would like to join in this recognition” from Ed Horrell…Founder and President of The Kindness Revolution™.
_____________________________________________________________________________________
QUESTIONS FOR MAYOR MARK LUTTRELL:
- 8. As a broad overview, what is your outlook for Memphis Real Estate in 2014 and Beyond?
- 9. You have spoken of your vision for Shelby County Livability under the Metropolitan Planning Organization MPO. You talked about your priorities to focus our goals and budget on Affordable Housing, Access To Jobs, Quality Schools and Safer Streets. Can you talk a little more about these initiatives and how they directly will impact the value of our real estate in Shelby County?
- 10. We have just come through a grueling property tax reappraisal process where we saw property tax assessment values drop significantly, cutting into the county’s revenue source. One of the responses to the budget shortfall was to raise the real estate property tax rate. What are some alternative sources of revenue or budget cutting solutions do you see for Shelby County that would take some of the pressure off property owners?
11.Back in July 2013, our Real Estate Mortgage Shoppe program collected comments and letters from people in Shelby County about their ideas on how to create alternative revenue streams to take some of the pressure off of Shelby County residential and business real estate property owners.
We got letters from people like Trey Heath from the Economic Development Growth Engine EDGE that talked about the importance of the Payment In Lieu of Taxes Program (the PILOT programs) that encourage businesses to locate in Shelby County as opposed to other locations. We had other letters and comments from others like Walker Uhlhorn who was not necessarily for PILOTS but for Free Enterprise.
What are your thoughts about the PILOT program and any other programs you would like to discuss?
Another letter from our listeners to our leaders was from Mark Ruleman concerning the Roots Program. Mark writes, “Few ideas address as many of Memphis’ needs as Roots Memphis may.
A local effort at a national urban farming revolution that educates, helps unemployed, underemployed, provides food and healthy dietary alternatives while bolstering neighborhoods’strengths possibly ultimately decreasing cities’ expenses to maintain blighted inner city areas.
(Mayor Luttrell: Please let me know if we can change the wording in these questions to better allow you to get your points across to our audience. Please supply additional questions that we can pull from to ask you in the interview)
Questions to Mayor Luttrell cont’d
- 12. What sells our community?
- 13. What are some of our upcoming challenges?
Real Estate Tip Of The Week: Jo Garner talks briefly about some of the biggest bargain buys in Memphis right now are homes that need fixing up. Inventory on short sales and foreclosures are shrinking. Not many financial institutions have adequate loan programs that help buyers and investors buy real estate and even loan them the rehab money. BUT I DO HAVE NOT ONE BUT TWO renovation and repair loans. One is the FHA 203K renovation and repair loan program with minimum of 3.5% down payment. The other program is a conventional program that can be used by people buying to LIVE in the property or investors. Minimum down for people buying or refinancing as owner occupants is only 5%. This program can also be used to purchase and fix up the Fannie Mae Homepath Renovation properties and much more. Call me and let’s get your preapproved and ready to make money buying a fixer upper . You can reach me directly at 901 482-0354. That number again is 901 482 0354 or catch me on my blog at www.mortgageloansblog.com
Jo has two announcements: Talk Shoppe offers free education and networking to anyone interested in real estate or business. This Wednesday February 19th 9A-10A at DeVry University 6401 Poplar Ave in Memphis Attorney Craig Beard, with Gotten, Wilson, Savory and Beard will be teaching us How To Properly Evict Problem Tenants. For more information about Talk Shoppe go to www.TalkShoppe.BIZ
Next week on our Real Estate Mortgage Shoppe program, we will be talking with Attorney Ron Cohen, of Premium Title Group about those legal questions you have about your real estate. We will, once again, be playing the Look Back Memphis Trivia Contest provided by Memphis historian, Jimmy Ogle. For the podcast of today’s show and past podcasts go to www.mortgageloansblog.com
Transition Songs: “Walking In Memphis” Marc Cohn; “That’s How I Got To Memphis” Bobby Bare; “Memphis” by Johnny Rivers; Theme Song For Kindness Korner “It’s A Wonderful World” by Louis Armstrong
EXHIBIT #1 Memphis: A Letter to Our Leaders from www.mortgageloansblog.com Letter To Our Leaders Tab
Real Estate Mortgage Shoppe is doing a special radio show this Saturday, July 20th. We will be discussing possible solutions to covering our revenue deficit in Shelby County without raising the tax rate on homeowners to cover the shortfall. We are asking our listeners to comment on their ideas for solutions to covering the revenue deficit. Do we raise revenue from various other sources, lower the budget, raise taxes on businesses and homeowners? What is the answer? We then plan to send all the responses over the next week to both Mayors offices, the board of commissioners, and the City Council. Thank you all for your continued support, and we look forward to your responses. Sincerely, Jo Garner – Real Estate Mortgage Shoppe
Listen to the ‘Memphis – A Letter to Our Leaders’ Podcast here.
Read the ‘Memphis – A Letter to Our Leaders’ Blog Post here.
7 Comments
It is important for homeowners and business owners to realize the later effects of a tax rate increase. Even though values are lower for this reassessment, real estate has been appreciating over the last 12 months. When we are reassessed again with possibly much higher values, the higher tax rate could be a budget buster.
What combinations can we use to raise more revenue from various sources and lower the budget?
Find ways to create more revenue using our Payment-In-Lieu-of-Taxes program that will generate more dollars-to-abatements. Find ways to combine some of our tax-payer funded government programs into one agency or find ways to combine a few government funded salary positions into one salaried position to achieve a lower budget without cutting needed services like firemen and policemen. Jo Garner
- Mary
Hello, To create more revenue? My point of view is: 1- what are Memphians good at? 2- what are our assets?
1 and 2 answers. Memphis, we are a very Diverse Community and we are the best at Hospitality.
We had one of the greatest International Airport, Hotels, Casinos, Shopping Malls and the best Airlines in USA and they really need more use.
We have a multicultural office, Business Ass. and tourism office. Elvis Presley, loved for many.
So being said that and thinking about creating revenue and jobs.
Will be making connections in between Memphis and different Countries, make complete value packs with airfare included, making connections with travel companies and Countries like Spain, Germany, France, ect … and have those complete packs well market. I know for a fact that many Countries in Europe love Elvis P. and all said before, they are the ones vacations more in the world and for sure they have a good point of view of Memphis.
- Walker Uhlhorn
If we want to save taxpayer dollars, the local government should look at what they are giving to welfare. We have more than 5000 non profits in Memphis getting between 5 and 6 Billion dollars a year. If we put someone over each category of services and coordinated and combined programs, the savings would be huge.
I honestly believe that we have not taken time to really look at the PILOT program.
In the past, when communities wanted to entice a business to relocate, officials and maybe the Chamber of Commerce would meet with the business and tell them about the schools, parks, police and fire protection, the work force, etc and maybe take them to dinner.
Now government bids on enticing or bribing businesses to move in or stay
Bad points
Not Free Enterprise, the government should not assist any businesses.
Hurts local banks, that should be making these loans. If it is a good viable business, the banks would like the business and would help make a good business decision on whether the business is a good investment.
Hurts neighborhoods when businesses are relocated. In many instances, the neighborhood and the property values of those businesses left behind, decline
It is not fair for the government to help one business and not help their competitor.
For a business, this is just a windfall profit that would go to stockholders and to bonuses, from the taxpayers.
The government can dictates other terms or wages that the company must pay to sub contractors. This hurts competitive bidding.
It opens the possibility of the government getting favors, such as the hiring of their political friends.
There is no way that you can truly financially demonstrate that a PILOT makes money. It is a no brainer when compared with a company that moves in, builds or rents a building, makes a loan from a bank and hires employees.
If a community can’t attract a business to remain or move to their city without paying them, the government has failed in it’s duties to the residents.
- Trey Heath, Economic Development Growth-Engine
Answers to questions regarding the Payment-In-Lieu-Of-Taxes program (PILOT)in Shelby County TN
1) Can you give us the formula tbat is used to calculate the frozen and asessed amount in the PILOT PROGRAM? and is this a standard formula?
The formula to calculate an EDGE PILOT is a standard formula that uses capital investment, jobs, salaries, location of the project among other categories to determine the PILOT term.
EDGE has received national recognition for being “the most transparent economic development agency in the country” this year. For a full break down on how each PILOT is calculated and to get details of every PILOT EDGE approves, go to our website, growth-engine.org.
2) In doing research, we came upon an article about CCRFC Pilot program’s formula that included an additional
25% from county home owners that went to the schools? Can you explain this and talk a little bit about the difference?
I assume by CCRFC you are referring to the Center City Revenue Finance Corporation. This is a different PILOT program that Downtown Memphis Commission runs. I can’t speak to their program. All EDGE approved PILOTs can only receive a maximum abatement of 90% City and 75% County taxes for the term of the PILOT (maximum term is 15 years). Not all PILOT recipients receive the maximum abatement. The taxes that are paid during the PILOT, like they are after the PILOT, are administered by the City and County governments respectively.
3) Is renewal of the process automatic or is it dependent upon an improvement-enhancement to their business?
And what is the time fram of the renewal?
PILOTs are not renewed by any means. There are a very few companies that receive multiple PILOTs over the span of many years, but these typically are for new projects and new investment. For example, FedEx received a PILOT last year, but that was only for their NEW Flight Simulator Training facility that they were looking to put at many different locations across the country.
4) How many different PILOT PROGRAMS are there in Shelby County? EDGE, Center City Revenue Finance Corporation and the Health and ED Board. Arlington, Bartlett, Collierville, Germantown and Millington also all grant PILOTs for their respective municipalities.
5) There are many concerned home owners in the city and county who feel that the program should be
streamlined in time and scope to benefit the city better in this economic climate. Have those sentiments reached your office? And what are your thoughts about that? Also, is there an avenue where those sentiments and other ideas to generate revenue, can be collected and considered?
EDGE PILOT projects provide a substantial amount of revenue and benefit to Memphis and Shelby County. Since EDGE was created, EDGE projects have created $1.1 billion in new capital investment, created/retained 6,524 jobs and generated $476 million in new tax revenue for Memphis and Shelby County.
EDGE PILOT projects are designed to provide the minimal amount of public incentive possible to attract or retain business in Shelby County. Every project goes through an analysis to ensure the benefit of the new investment and jobs surpasses the amount of tax benefit provided.
Companies that receive a PILOT are required to pay a competitive wage, provide benefits, commit to spending at least 25% of their new capital investment with minority and locally-owned businesses and submit to EDGE’s compliance program.
The EDGE diversity program alone has provided a substantial economic impact to both minority and locally owned businesses.
The International Paper and Nike projects alone account for almost $200 million in commitments to locally and minority-owned firms in Memphis and Shelby County.
7) How much weight does the PILOT PROGRAM carry in the presentation to potential business that the city want to relocate here? And can you give a general view what is offered) of the presentation?
I can’t speak to the presentation however the PILOT program is the main, local tool used to recruit and retain business in Memphis and Shelby County and is similar to many other programs found in most major cities.
8) What are the pros and cons of this program, in its present state, for the City (in terms of revenue)? The pros are clear in that PILOT projects provide much needed jobs to our community while generating significant new tax revenue. It’s important to understand that not only are PILOT projects generating significantly more new revenue than is being abated, PILOTs are limited over a term. This means when the term has expired, those companies go back to paying full taxes on on all their assets. Take for example Nike which located to a long vacant industrial area in North Memphis. Not only will the City and County earn significantly more tax revenue on the property during the PILOT term because the once vacant land is now developed, but once the PILOT expires and Nike begins paying full taxes, our community will go on to earn millions in new property tax revenue because the PILOT drastically increased the value of the property.
Or take the Mitsubishi project for example. Just look at how this project will positively impact revenue in Memphis and Shelby County:
**Project Profile**
Capital Investment $197,071,224
Direct New Jobs 281
Indirect Jobs 498
Average Wage $49,790
Total Wages $42,138,519
**Economic Impact**
Property taxes prior to project
$43,525
Property Taxes with PILOT
$701,942
***Net Gain Annually Now***
*** $658,417***
Property Taxes After PILOT
$3,823,883
Total Economic Impact $361,445,081
**Largest minority contract every issued by the city, approximately $9.0 million, for sewer line relocation for the Mistubishi site.
**The ongoing annual spending by the company will likely be millions with local businesses for supplies, materials and services.
Few ideas address as many of Memphis’ needs as Roots Memphis may.
A local effort at a national urban famring revolution that educates, helps unemployed, underemployed, provides food and healthy dietary alternativse while boistering neighborhoods’strengths possibly ultimately decreasing cities’ expenses to maintain blighted inner city areas.
Memphis’ unique position with large tracts of land available for this alternative use (irony that we’re just returning to our agricultural roots!) but check out this article from the American Bar Association on Detroit’s ills and urban farming!
http://www.abajournal.com/magazine/article/plowing_over_can_urban_farming_save_detroit_and_other_declining_cities_will/
Memphis City Schools could benefit from this effort as well provided “cheaper” local produce too!!
http://www.rootsmemphis.org is their web site
check out these resources on urban farming too
http://www.thecrunchychicken.com/2012/01/top-10-urban-farming-books.html
- Carol Murray
I think the solution starts with asking the right questions. The tax base is the people and the people are moving out. Why are people moving? The responses I hear to that question are one, taxes are too high, and two, the schools aren’t good enough. So the answer is lower the taxes and improve our schools, but how?
The first step in lowering taxes would be to balance the budget. We DO NOT need to cut services like the police, fire, garbage pick-up, etc. Cutting those services would just cause more people to move away. I admit that I really have no idea what the budget looks like, but when MY pay gets cut (and it has been cut three times in the last eight years), I have to continue to balance my budget. I do this by cutting out the not so necessary items. So, instead of cutting police, fire, etc., cut the middle management (Council Members who’ve promised things to these people – suck it up, apologize for your inability to keep your promise and do what’s right for the city/county and get rid of them!) and cut all city/county government employee, salaries plus your own, back to what the average citizen is making. You can’t do that, you say!? Look at Phil Bredesen, when he was governor, he didn’t even take a salary for a number of years. Look at Sharon Goldsworthy, Germantown mayor, who, I believe, only makes about 10K per year. MANY of the “perks” could also be cut. The Memphis City Council members voted themselves free lunches! I could go on, but you get the idea.
We also need to take a serious look at ways to improve our schools. Throwing money at them is NOT the answer. The county has been spending less per capita than the city, and yet overall has had better schools. I believe that the Charter schools are part of the solution. They have done well here. Another thing that I think would give a big boon to public education (and I know many disagree) would be a school voucher program (SVP). An SVP would empower the poor allowing them to truly choose where their children go to school. So, what really happens if we do this? The lousy schools either improve and improve quickly, or they are closed, while the good schools improve even more to gain more students. Soon, ALL the schools are good schools.
ABOUT MAYOR MARK LUTRELL:
http://www.shelbycountytn.gov/index.aspx?NID=213
| Mayor Mark H. Luttrell, Jr., was born in Jackson, Tennessee and spent his early years in Bells, Tennessee. During his teenage years, his family moved to Memphis where he graduated from Bartlett High School, received a Bachelor of Arts degree from Union University, and a Masters in Public Administration from the University of Memphis.After college, he began teaching history at Bradford County High School in Starke, Florida. He then joined the Army, where he was stationed in Louisiana, Texas and Germany.
Mark Luttrell’s career in corrections began at the Shelby County Penal Farm as the Vocational Training Director and continued when he joined the United States Bureau of Prisons. He served as warden of federal prisons in Texarkana, Texas; Manchester, Kentucky; and Memphis, Tennessee. Upon his retirement from the Bureau of Prisons, Mr. Luttrell was appointed Director of the Shelby County Division of Corrections, where he served until his election as the Shelby County Sheriff in 2002. He was reelected in 2006. |
Under his leadership as Sheriff, the Shelby County Jail received several accreditations and was lifted from federal court oversight. The jail went on to received national accreditation by the American Corrections Association, and the jail medical units received separate national accreditation certification. Additionally, the law enforcement division of the Sheriff’s Office was also accredited by the Commission on Accreditation for Law Enforcement Agencies (CALEA). As sheriff, he graduated from the FBI National Executive Institute (NEI) and in 2009 was named “Sheriff of the Year” by the National Sheriffs’ Association. He was also selected as Lawman of the Year for the Kiwanis’ Louisiana, Mississippi, and Tennessee Districts.
In August 2010, Mr. Luttrell was elected Shelby County Mayor. Since then, he has successfully led initiatives in economic development by creating the Economic Development Growth Engine (EDGE) for Memphis and Shelby County. He continues to increase awareness of healthy living through Healthy Shelby, which is a county-wide public health initiative, and through outreach from the Mayor’s Office as a means to create positive government-to-citizen relationships.
Mayor Luttrell desires to assist Shelby County in becoming one of the most effective and efficient governments in the nation by aligning initiatives within his four-point vision: budget discipline, safe communities, public health, and jobs.
The Mayor juggles many leadership roles within the community by serving on various professional boards and committees: National Association of Counties (NACo) Board of Directors, Memphis-Shelby Crime Commission board member, and University of Memphis Arts and Sciences Advisory Council board member. He has received several community service awards: the Bobby Dunavant Public Servant Award presented by the Rotary Club Memphis East, the Whitney M. Young Award presented by the Chickasaw Council-Boy Scouts of America, the Highest Effort Award in Government presented by Sigma Alpha Epsilon, and the Seven Seals Award presented by the National Guard and Reserve for Leadership
In addition to being a Leadership Memphis graduate, Mayor Mark Luttrell is a distinguished recipient of the Outstanding Alumni Award of the University of Memphis, College of Arts and Sciences.
He is a member of Second Baptist Church in Memphis. He and his wife, Pat, have three children: Lynnette, Mark, and Margaret and six grandchildren.
TOM KING, KING AND VAUGHAN CONSULTING Shelby County Real Estate Property Tax Appeal Expert (901) 487-6989 www.golowertax.com
Lynn McDonald, Insurance Agent with Erin McDonald Allstate Insurance Agency and Kindness Revolution Champion Representative (901) 849-7101
Jo Garner, Mortgage Professional with Evolve Bank and Trust
Jo Garner’s Bio
www.MortgageLoansBlog.com www.MoneyShoppe.NET (901) 482 0354 jogarner@mindspring.com
Jo Garner is a mortgage officer with extensive knowledge in tailoring mortgages to her customers who are refinancing or purchasing homes all over the country. She offers conventional, FHA, VA or other loan programs for refinancing and purchases.
Jo can help you look at rent vs buy, when it makes sense to refinance, how to get the best deal on your home purchase financing.
Jo Garner has been in the real estate/financing business for over 20 years. She got her start in Portland, Maine where she first began her real estate career. She received her real estate education from the University of Southern Maine and was personally mentored in San Diego, California by Robert G. Allen, author of Nothing Down, Creating Wealth and The Challenge.
On moving back to West Tennessee in 1987, she went into business buying and selling discounted owner-financed notes secured on real estate. In 1990 Jo went to work for a residential mortgage company and has been a mortgage loan officer for over 17 years. Her goal is to offer excellent, affordable service to her customers, tailoring the loan programs to the specific needs of her clients.
In addition to her work in the mortgage field, Jo Garner is the primary sponsor and founder of Talk Shoppe in Memphis. www.TalkShoppe.BIZ She is currently the host of the Real Estate Mortgage Shoppe program 9A-10A CDT Saturdays on News Radio AM 600 WREC and IHEART Radio http://www.iheart.com/#/live/2145/?autoplay=true and currently publishes on her blog www.MortgageLoansBlog.com
For real estate financing solutions, plug into the Real Estate Mortgage Shoppe program. You can find mortgage rates, FHA Streamline refinance with no out-of-pocket costs, refinancing options, home purchase loan programs, answers and real estate, money-saving tips and more.