HIGHLIGHTS FROM TODAY’S PODCAST:
MARKET NEWS
LOOK BACK MEMPHIS TRIVIA CONTEST
Questions answered by Terri Murphy:
1. 5 Mistakes To Avoid When Buying Real Estate
2. Terrific solutions for frozen food that can’t go with the move
3. Importance of home inspections for the seller before writing contract
4. Know the local real estate customs on possession practices and contract points for the area where you are moving.
Questions answered by Jo Garner :
- 1. How to overcome the 4 major barriers to getting a mortgage
A Not enough funds to close
B. Not enough income to qualify
C. Credit challenges
D. Appraisal problems
2. Do’s and Don’ts While Waiting For Mortgage Approval:
REAL ESTATE TIP OF THE WEEK (Terri offers a money-saving or time-saving tip to listeners )
Good morning , Memphis. Good morning across the country on IHEART radio. You’re on the Real Estate Mortgage Shoppe program and I’m your host, Jo Garner, Mortgage Professional with Evolve Bank and Trust. Sponsoring our show today is Alliance and Title and Escrow here in the Memphis area. 8289 Cordova Rd, Cordova, TN 38016
Phone:(901) 333-7999—just asked to speak to Joe Rojas and he will take care of you.
We want to talk about Your real estate challenges, YOUR real estate successes, whatever interest YOU in real estate. Give us a call on the air at 901 535-WREC. Our general topic today is “Smart Moves BEFORE You Move –Preparing For Your Real Estate Purchase.”….and it just so happens we have the perfect co-host and the perfect guest joining the conversation.
Our co-host today is Terri Murphy, of US Learning and Terri Murphy Communications. Terri is a national speaker, has served on the board for the NATIONAL Association of Realtors, done whole lot of stuff we don’t even have time to mention, and has written several books and the last one she wrote with THE real estate man, Donald Trump. Terri is STILL working with real estate groups around the country. Glad to have you back on the show, Terri.
(Jo asked Terri to talk more about what trends she sees happening in the real estate market across the nation)
(Jo) The market was moody this week, going up on Thursday higher than they have been in the last 3 weeks—and for no good reason—just because “it was about time for them to go up.” Then yesterday some negative economic news came out and investors started scampering back to their safety nets and the prices on rates fell again. But watch out for next weeks, info dump. There are several important economic reports due next week ending the week with the almighty Jobs Report. If you have a purchase home loan or refinance loan in process or you are thinking about it, my advice is to lock it now. IF THE DEAL WORKS FOR YOU TODAY, DO IT TODAY. My very capable assistant Susan Belew and I would like very much to talk with you, compare numbers and compare the loan structure too. It does not take a lot of tweaking to save our clients thousands of dollars –or even tens of thousands over the course of years. To talk with Susan or me directly off the air call 901 482 0354. To join us on the air call 901 535-WREC or 901 535-9732.
(Jo) With the bidding wars going on with multiple families bidding to buy the same property it has become more important than ever to make some smart moves BEFORE you move to a new home or to a new mortgage loan structure. Go ahead and get a strong preapproval letter when you talk with your loan officer. To strengthen the letter even more, go ahead and have the loan officer review your income and asset documents so that can be noted also on the preapproval letter. I know people who lost their bid on a house for their family just because a competing bidder had a stronger preapproval letter. If you or someone you know is planning to buy a house, Susan and I would like to opportunity to work with them. We can get some extra information from you and strengthen your letter so that you have the BEST chance of having your offer accepted on the house you REALLY want. Call Susan or me directly at 901 482 -0354. That is 901 482 0354. Or catch us on our blog www.Mortgageloanblog.com
Terri, what good smart moves before you move can you share?
(Jo) If you are that person who wants buy house …or two.. or to possibly refinance a mortgage or two to free up extra money or just to get the mortgage paid off sooner, don’t let common barriers like thinking you don’t have enough money to close stop you from closing. Susan and I over the years have discovered some amazing tools to help our clients find money to close, help them get their credit scores up on relatively short notice, help them with income calculation and even with appraisal issues. If you are that person, PLEASE call us now on the air at 901 535-WREC 901 535 9732 or directly at 901 482-0354. (901 482 0354 or connect with us on the blog www.Mortgageloansblog.com
Terri, I know you and Dave have some great wisdom to share with us like How to Avoid The Top Mistakes When…. What are your top 5 Mistakes to Avoid .. and if we have to go to break we can come right back with them.
2nd segment after 9:15 break—
It’s time for the Look Back Memphis Trivia Contest brought to you by notable Memphis historian Jimmy Ogle. Jimmy Ogle gives free walking tours in Downtown Memphis during the Spring and Autumn. Go to jimmyogle.com for the 2014 Spring season schedule and locations. Our Look Back Memphis Trivia Contest SPONSOR is Marlene Foster of ADT Security Services—the number one security system. Give Marlene a call at 901 232-6277. She will take good care of you Marlene is giving away a $25 gift card to the first person who calls with the correct answer to our Trivia Contest. If you know the answer, call us on the air at (901) 535 WREC. (901) 535 9732.
Here’s our trivia question : Who am I? (go to hints)
Garner # 22 07/16/14
Answer: French Fort
Question:
Hint: This subdivision takes on the name of the first European built structure on lands that became Shelby County.
Hint: Houses in the subdivision were built in the post-WW2 era and pre I-55 era.
Hint: Street names include Napoleon, Esplanade and Bourbon!
Last Hint: The name is not British, Spanish, Irish, Italian nor German!
Answer: French Fort Neighborhood
As we all know, Memphis was founded on the fourth Chickasaw Bluff in 1819. But animals, Native-Americans and European explorers “settled” the area in the preceding centuries. At the highest part of the bluff, on Assumption Day, August 15, 1739, Fort Assumption was erected by Sieur de Bienville, French Governor of Louisiana. This was the first structure built by Europeans in Shelby County, and the third such in Tennessee, and the occupation last only a few months.
Fort Pickering was later established on the south bluffs by the expanding United States in the early 1800s, and was occupied by Union troops during the Civil War. A Marine Hosptial was established in 1885, expanded in 1939 and later became a location for the Army Reserve in the 1990s. The first of three strategic bridges was opened in 1892 in this area. In 1887 a public park named Jackson Mounds open on the site of the two ceremonial Chickasaw mounds and in 1913 was renamed DeSoto Park. In 1995, Chickasaw Heritage Park became the name of the park and in 2012, a statue entitled “Legacies” by Vinny Bagwell was dedicated to the Native-American, Hispanic-American and African-American heritage of Memphis. The National Ornamental Metal Museum opened doors in 1979.
The residential subdivision French Fort was established in 1960, but was disconnected from the downtown core during the interstate construction project of the mid-60s. There are about 150 privately owned homes in the neighborhood, with well-manicured lawns and a very quiet environment, to be right in the middle of the I-55, two railroad bridges and Crump Avenue! To access the area, drive west on Crump to Exit 12C (Metal Museum Drive).
Jimmy Ogle, our Look Back Memphis Trivia historian. To contact Jimmy Ogle about his free walking tours, go to www.jimmyogle.com Our Look Back Memphis Trivia SPONSOR is Marlene Foster of ADT Security Services—the number one security system. Give Marlene a call at 901 232-6277. She will take good care of you
Questions answered by Terri Murphy:
1. 5 Mistakes To Avoid When Buying Real Estate
2. Terrific solutions for frozen food that can’t go with the move
3. Importance of home inspections for the seller before writing contract
4. Know the local real estate customs on possession practices and contract points for the area where you are moving.
Questions answered by Jo Garner :
- 2. How to overcome the 4 major barriers to getting a mortgage
A Not enough funds to close
B. Not enough income to qualify
C. Credit challenges
D. Appraisal problems
2. Do’s and Don’ts While Waiting For Mortgage Approval:
MOST ALL OF MY CUSTOMERS ARE GREAT CUSTOMERS AND WOULD NEVER DO WHAT I AM ABOUT TO SHARE WITH YOU—BUT OVER THE YEARS THERE HAVE BEEN THESE EXCEPTIONS:
Numero uno: Do NOT go out and buy a car, open a credit card or even a 12 month same as cash account before you close on your mortgage. Underwriters and compliance officers check reports to see if you have done this right before you close. You may make plenty of money but if the mortgage company, for whatever reason, can only count part of your income for qualifying, any new credit could cause a problem with your loan approval.
- Please do not move money from one account to the other during the loan process. This will drive your mortgage officer crazy and can delay your loan closing. Its common for the loan processer to ask your bank for an update on the account activity closer to closing. If you said you had $10,000 in the account and now there is only $3000, you have got to show a papertrail on where the money went and that can take time.
- If you have a mortgage loan in process for refinancing your home or buying a home, please don’t change jobs or quit your job without first telling the loan officer. That has happened on a number of occasions and believe me, it can cause a delay….and will also drive your mortgage officer crazy.
- Here’s a thriller mortgage story: We could not figure out where our customer was going to get the money to close on his home. He said he was saving it but, looking at his budget, we couldn’t see how. Into the 1st or 2nd week of the following month when he was ready to close, he brought us his latest bank statement and, sure enough, he had saved the money to close. Wow! But when the compliance person pulled a last minute check on his credit we discovered WHY he was able to save that much so fast….. he didn’t pay his bills from the month before….. His credit score had plummeted over 100 points, so low we could no longer approve the loan.
- Talk to your loan officer—we care about you and we are on YOUR team. If your loan doesn’t close, we don’t get paid. So we are very motivated to help you get your loan closed.
2.
4th Segment 9:45AM REAL ESTATE TIP OF THE WEEK (Terri offers a money-saving or time-saving tip to listeners )
Jo’s announcements:
- 1. Talk Shoppe offers free networking and education to anyone interested in real estate or business. This Wednesday July 30th, 2014 9AM to 10AM Get engaged with other business people using the Mastermind Principle: based on the book Think and Grow Rich by Napoleon Hill. Talk Shoppe offers these free events to the public at the YMCA Corporate office 6373 Quail Hollow Rd 2nd floor in Memphis at the corner of Massey Rd and Quail Hollow.
For more information about Talk Shoppe go to www.TalkShoppe.BIZ
- 2. Join us every Saturday on the Real Estate Mortgage Shoppe program. For today’s podcast and others, go to www.MortgageLoansBlog.com We want to hear from you on how we can make our show better. If you have suggestions, call me directly at (901) 482 0354.
- 3. The school year is quickly sneaking up on us. The YMCA offers Before & After School Care on-site for many Mid-South schools. Call your local YMCA to see if your school is part of our school year enrichment program.. www.ymcamemphis.org or call (901) 766-7677.
Transition Music: “It’s A Mistake” by Men At Work ; “Get Ready” the Temptations;
“On My Way” by Phil Collins (please start at 19 secs)
Terri Murphy
Author, Speaker, Consultant & Communication Specialist
Terri brings a depth of industry experience and education to the Real Estate Industry. Having earned the GRI, CRS and other designations has helped Terri perform at the top of the real estate industry… at a consistency of listing and selling over 100 homes per year for over 28 years in the Chicago area. Today she performs as a consultant to the real estate and general sales industry to help build communication systems and resources that foster relational capital that result in true clients for life
About Terri:
- An active member since 1988 of the National Speakers Association
- An active member of NAR since 1978
- NAR Game Changer Coach for 2 project initiatives, 2009-2010
- Currently the Chief Information Officer for U.S. Learning, Inc.-Memphis, TN.
- Founder-President: WomensWisdomNetwork.com
- Authored weekly newspaper column for Copley News & Lakeland Press – “Murphy on Real Estate”
- Served as 2006 Chairman of the National Association of Realtors Membership Information Committee
- Former Vice-President of Interactive Business Television Network (IRTV): Writer & Producer for Muzak’s Business Satellite Television 1995
- Staff Writer for RealtyTimes, Broker Agent News, FrogPond Publishing, Memphis Woman’s Magazine and Mortgage Originator Magazine, Mortgage Planner Magazine
- Hosts a Weekly Internet Radio Program: www.WomensWisdomNetwork Success Radio
- Former host of Weekly Radio Program – “Murphy on Real Estate” for WKRS/Chicago
- Staff contributor to www.RealBlogging.com
- Author of “Terri Murphy’s Listing & Selling Secrets” published by Dearborn Publishing in l995
- Author of “Terri Murphy’s E-Listing & E-Selling Secrets: for the Technologically Clueless” – published November 2000
- Author: Taking Charge, Lessons in Leadership, published by Insight Publishers – September 2003
- Contributing Author: Real Estate Confronts the Future – published by Thompson Southwestern – Real Sure – 2005
- Contributing Author – Donald Trump: “The Best Real Estate Advice I Ever Received – Rutledge Press – 2006
- Founder of the Illinois Lake County Chapter of Women’s Council of REALTORS® 1989
- Served as President of Illinois State Chapter of Women’s Council of REALTORS®
- NAR Executive Committee 1998
- Conducts continuing education and distance learning seminars – Program Information Available
Industry Consultant to: (abbreviated list)
National Association of Realtors
KODAK
ACUMA (American Credit Union Mortgage Association)
Mortgage Professional Training Network
Great Harvest Franchises
YRC World Wide
FedEX Institute of Technology
Harris Bank of Chicago
Countrywide Funding
RE/MAX International
MUZAK
First American Title Company
Entreport, Inc.
I-Succeed.com
Ben Franklin Savings Banks
First Midwest Banks
American Back Centers for Chiropractic Medicine
Intelitouch
Steelcase-MBI
New York Times
WREG-TV
MGIC
Mortgage Originator Magazine
Realty U
Dearborn Financial Publishing Company
Media:
ABC Sunday Morning News
NBC Sunday Morning News
CNBC – Expert Segment
Twin Cities LIVE
Focus On Lake County
Live@9 – Memphis
MPTN-Mortgage Professional Training Network
CBS-WREGTV–Live@9 Regular Guest
Staff Writer/Articles Featured in:
PC World Magazine
Frog Pond Publishing
Computer Age Magazine
Real Estate Professional Online Magazine
Broker Agent News (Staff Writer)
Mortgage Originator Magazine (Staff Writer)
National Association of Mortgage Bankers
Women’s Council of Realtors® Magazine
Executive Relocation Magazine
Copley News
Real Estate Executive Magazine
Memphis Woman’s Magazine
MCAR Magazine
Certifications:
- Licensed Real Estate Agent 1978
- Licensed Real Estate Broker 1979
- Graduate: Real Estate Institute (GRI)
- Certified Residential Specialist (CRS)
- Leadership Training Graduate (LTG)(PMN)
- Certified Counselor of Real Estate (CREC) 2001
- Illinois CRS of the Year 1993
- Licensed Continuing Education Instructor (Programs approved in 26 States – 2000-2007)
- 50 Women Who Make A Difference –Memphis, TN. 2008
- ReMax Hall of Fame 1994
- Coldwell Banker Intl. Elite Presidents Club 1997
- Alma S. Thorsen Award – 1987
- 50 Women Who Make A Difference – Memphis, 2008
- 50 Top Real Estate Women – Memphis, 2010
Websites:
TerriMurphy.com
MoreUnited.com (Mortgage Originators/Real Estate United.com)
MurphyOnRealEstate.com
CertifiedMilitaryResidentialSpecialist.com
USLearning.com
For more information: Visit http://www.TerriMurphy.com www.MurphyOnRealEstate.com or call 847-970-2717
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 20 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 was also the editor of Power Shoppe, a free weekly ezine designed for real estate professionals and others indirectly connected to the real estate industry 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.