HIGHLIGHTS FROM TODAY’S PODCAST:
1ST SEGMENT- MARKET NEWS
2ND SEGMENT- LOOK BACK MEMPHIS TRIVIA CONTEST
QUESTIONS ANSWERED BY MARLENE FOSTER:
- Give us some suggestions how homeowners and businesses can protect themselves and their premises?
- How do signs and stickers promote safety?
- Explain how wireless security systems have become so popular.
QUESTIONS ANSWERED BY BRANDON:
- Why should someone choose ADT?
- What if a person does not have a home phone?
- How quick is the time from agreeing on a package to the actual installation date?
What are some of ADT’s guarantees?
MORE QUESTIONS ANSWERED BY MARLENE AND BRANDON:
- Do you have a system to detect carbon monoxide in a home?
QUESTIONS ANSWERED BY JO GARNER:
- How do you know when it’s safe to buy your first home?
- Are adjustable mortgage rates safe today?
4TH SEGMENT: REAL ESTATE TIP OF THE WEEK
ANNOUNCEMENTS
________________________________________________________________________
Good morning Memphis! Good morning across the country on IHEART radio. You’re on the Real Estate Mortgage Shoppe program. I’m your host, Jo Garner, Mortgage Professional with Evolve Bank and Trust. I you have a real estate related short story to tell, if you have a real estate related question, or a real estate related conundrum—call us on the air at 901 535-WREC. We want to hear from you. The number to call is (901) 535 WREC. That number again is 901 535 9732.
Our general topic today is “Tips To Keep Your Family Safe At Home & At Work.” Our co-hosts are Marlene Foster and Brandon Cary of ADT Home Security Systems. Brandon, how long have you been in the security business?
Marlene Foster is a well-connected, well-liked sales representative and has gained the respect of associates in networking groups like Business Networking International and Talk Shoppe. Marlene, tell us a little about yourself and what you do for your clients?
- (Jo) Last week we talked about this week being a “high risk” week for mortgage rates because of two earth shaking events happening over the last few days—the big US Jobs Situation Report that came out yesterday morning showing a lower job creation rate and the European Central Bank announcement on how they will implement their version of Quantitative Easing to boost their economy. As it turns out, mortgage rates made their adjustments before Memorial Day in anticipation for what would happen this past week. So we escaped this week with minimal damage to rates and next week looks to be pretty quiet. Yesterday rates ended 30YR FIXED – 4.125%-4.25%
- FHA/VA – 3.75%
- 15 YEAR FIXED – 3.375%
- 5 YEAR ARMS – 3.0-3.50% depending on the lender
Winners this week were borrowers who have never had the opportunity to refinance and now because the value is up on their homes, or their income has increased or their credit has gotten better, they were able to get locked in on a mortgage rate to reduce the amount of interest they were paying on their mortgage. If you have not refinanced your real estate property yet, give me a call at (901) 482 0354. We have a few products that do not even require an appraisal value. My assistant, Susan Belew and I are great at finding income in the back pages of the tax returns for those self employed people with good credit but not a lot of Adjusted Gross Income. If the income is there, we can find it. Give me a call off the air at 901 482 0354. Or call us on the air at 901 535 WREC.
Other winners in the real estate market place today are people who are BUYING a home before the values and prices go up or people who have been renting and now are buying a bigger house with more amenities with a lower payment than they were paying in rent. Don’t miss the opportunity to build some wealth for yourself. Susan Belew and I would like VERY much to help you get some bragging rights on your mortgage financing whether you are buying a home or refinancing one. We love working in the Mid-South but we help our clients with financing on properties all over the country too. If The Deal Works For You Today—Do It Today. You can contact Susan and I right now on the air at 901 535-WREC or 901 535-9732 or call us directly at 901 482 0354. Or catch us on our blog www.MortgageLoansBlog.com
(Jo) If you have a primary residence, a 2nd home or investment here in the Memphis area or anywhere in the country , Susan and I even have some loan products that do not require an appraisal value for refinances. Over the last couple of weeks a number of clients have talked about how they tried to refinance unsuccessfully last year or in years past due to their home value being too low or for other reasons. These same clients were pleasantly shocked to discover how much values in their neighborhood have improved to the point of now being able to refinance to a historically low mortgage rate with a lower payment. Let’s look at YOUR financing scenario.
If you’re buying a home, here’s a tip to the wise, go ahead and send me a copy of your latest paystub, your last year’s tax return and last 2 years W2s and your latest bank statement. With these income and asset documents, I can make your preapproval stronger which may help you win a bid for the house you want over other competing offers. Call me directly at 901 482 0354 or call us on the air at 901 535-WREC.
Today we’re talking about Tips To Keep Your Family Safe At Home & At Work. We have Brandon Cary and Marlene Foster from ADT Security Service around the coffee table with us. Let’s just get right down to it—What are some tips you can share with us to help our families stay safe at home and at work? <
2ND SEGMENT 9:18 AM 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. For information about Jimmy Ogle and his schedule for the historic walking tours, go to jimmyogle.com. 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 # 1706/04/14
Woodruff – Fontaine House
Question:
Hint: I hold a prestigious address on Adams Avenue.
Hint: I was built in 1870 along “Millionaires Row” in Victorian Village.
Hint: I was the home of two of Memphis’ most prominent families.
Last Hint: I was deeded to the City in 1936, & rescued by the Association for the Preservation of Tennessee Antiquities in 1962, and restored to my former glory.
Answer: Woodruff Fontaine House
Back Story: Rising from ancient magnolia trees, the Woodruff-Fontaine House stands as a reminder of an era long gone. The Woodruff-Fontaine mansion is of French Victorian architecture with a Mansard roof. The woodwork is solid cypress, machine carved, and the flooring is mostly cypress original to the house. Embossed design on the hallway ceiling at the top of the third floor stairwell is hand hammered tin in a classical design.
Another fascinating artifact in the mansion is a hidden door which will be opened for your guests to see the many personalized autographs and memories, hand-written by the craftsmen from around the world who built this magnificent mansion. Amos Woodruff was a carriage maker and Noland Fontaine was a prominent cotton factor.
The mansion is always elaborately decorated every holiday, reflecting the holiday as it was during the Victorian era, and the unique gift shop features unusual treasures at very reasonable prices!
Last Week: Riverside Drive. In 1892 Memphis built its first bridge (Frisco) across the Mississippi River for a single railroad line. In 1899, Memphis quadrupled its size by annexing all the way out east to Lick Creek (in today’s Overton Park). In 1904, Memphis had eight automobiles and the speed limit was 8mph. By 1916, a second bridge was built (Harahan) to connect Downtown Memphis to Arkansas, as Memphis now had over 6,000 automobiles. In 1935 Riverside Drive became the main thoroughfare for the connection and a small Astor Park (now Tom Lee Park) was built.
In 1991 Tom Lee was expanded to stabilize Riverside Drive, the river channel and the bluff. Riverside Drive was made level, given four lanes and a nicely landscaped median strip between Beale Street and Georgia Avenue. In 2002 sidewalks were added above the cobblestones on the west side of Riverside Drive between Beale and Jefferson. This Summer, the southbound lanes of Riverside Drive, south of Beale Street, will become dedicated to bicycles and pedestrians for a more sustainable Memphis. The loveliest view in Memphis is the sunset along the Mississippi River on Riverside Drive.
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.
Shelby County Courthouse: Third Thursday each month at 12:00 noon
TUESDAY TOURS: Tuesdays from April 1 to June 10 at 11:45 a.m. for about four blocks from a different
street corner each week
2ND AND 3RD QUARTER:
QUESTIONS ANSWERED BY MARLENE FOSTER:
- Give us some suggestions how homeowners and businesses can protect themselves and their premises?
- How do signs and stickers promote safety?
- Explain how wireless security systems have become so popular.
QUESTIONS ANSWERED BY BRANDON:
- Why should someone choose ADT?
- What if a person does not have a home phone?
- How quick is the time from agreeing on a package to the actual installation date?
What are some of ADT’s guarantees?
MORE QUESTIONS ANSWERED BY MARLENE AND BRANDON:
- Do you have a system to detect carbon monoxide in a home?
QUESTIONS ANSWERED BY JO GARNER:
- How do you know when it’s safe to buy your first home?
- Plan to Stick Around- If you plan to stay in one place for at least 5 to 7 years, it probably makes sense to buy vs. rent. Particularly in today’s market where you can, in many cases like in mid-priced cities, get a house payment less than what you would pay to rent. But you have to also consider the amount of money you put down –between $500 and 5% of the price of the house on government financing. If you are not staying in the house for more than 3 to 5 years, you may not get a chance to get make it worth the down payment you paid in the first place. Exceptions are when you use down payment assistance or a 100% loan like VA or USDA
- Make sure you have a strong preapproval letter from a lender:
It normally takes about 8 to 10 minutes on the phone to do a quick preapproval letter using the automated underwriting software through Fannie Mae or Freddie Mac. To strengthen the preapproval letter considerably, we recommend sending over a copy of your income verification documents, and copies of statements showing your assets. We would have already seen your credit at that point. The appraisal can be a wild card
- Save your money:
Susan and I have a multitude of loan products that can help you get into a home with very little money down. But so many first-time homebuyers don’t think about the costs to move, the costs to buy window treatments or other amenities to make the home more livable. Oh, and don’t forget, when the dishwasher breaks down or the air conditioner goes on the fritz, you need some savings put back to pay for these inconveniences. Having an emergency fund can take the stress out of homeownership. Be diligent to have an account put back like this for a rainy day.
- Prepare for the real world:
The world is different today than 5 or 6 years ago when getting a mortgage loan sometimes did not even require you to prove your income or where you got your money. Today, after the housing crisis, government guidelines have reigned down on the mortgage industry. When you’re going through the loan process, prepare for bumps in the road. A good loan officer will help walk you around the pitfalls. You ARE going to be required to prove your income and source of your assets. You ARE going to have to sign a bunch of papers even BEFORE closing. Be prepared for the unexpected. A good loan officer and realtor will help you face any challenges. My very capable assistant, Susan Belew, would like very much to help you on your journey to homeownership. Call us directly at 901 482-0354 or catch us on our blog www.MortgageLoansBlog.com
- Are adjustable mortgage rates safe today?
You have advantages and disadvantages to adjustable mortgage rates just like with fixed rate mortgages. Here are your advantages for using an adjustable rate:
- Advantages: Help borrowers save and invest more money when the initial rate is lower than the fixed rate.
- Offers a lower house payment for someone who doesn’t plan to live in the house for very long because some adjustable rates are fixed for the first 3 to 5 years before they start adjusting.
- Sometimes the house payment is over $100 per month lower on an adjustable rate as opposed to a fixed rate and this could allow a home buyer to afford a bigger house than he normally would be qualified for on a higher fixed rate.
- DISADVANTAGES: Rates and payments can rise significantly over the life of the loan. A 3.25 percent ARM can end up at 9.25 percent in just a few years if rates rise sharply.
- The first adjustment, especially of the rate has been fixed for the last 5 years, can be a Big leap upward because some safety caps on the first adjustment allow for a big change in the first time adjustment. Most programs have safer annual caps on the rate to protect the borrower from as much interest rate risk as possible .
4TH SEGMENT: REAL ESTATE TIP OF THE WEEK: (Marlene and Brandon shared a suggestion to inform your insurance company when you get the ADT security system installed because many insurance companies offer 10% to 20% discounts on home insurance premiums when you have a working security system)
Jo’s announcements:
- Talk Shoppe offers free education and networking to anyone interested in real estate or in business. This Wednesday June 11, 2014 9A-10A at the YMCA Corporate office 6373 Quail Hollow Rd 2nd floor Memphis, TN 38119 Event Planner and Home and Officer Organizer, Sally Baker of The Source Unlimited will be sharing “How Organizing Your World Can Change Your Life!” . For more information about Talk Shoppe, go to www.TalkShoppe.BIZ
- Talk Shoppe thanks the YMCA of Memphis for providing a place to hold the free business events for the community. The YMCA has opened registration for the YMCA Corporate Games, giving businesses a chance to PLAY LIKE A KID AGAIN …and….get some great publicity while having fun. If you would like for your business or employer to participate, contact the Y at www.ycorporategames.org or call Shauna Bateman at 901 766-7677 x 116
- Next Saturday June 7th, 2014 on the Real Estate Mortgage Shoppe, Tom King, certified Shelby County Real Estate Property Tax Appeal Expert will be sharing how easy it is to appeal your real estate taxes. Better call Tom before June 30th though. Contact Tom today at (901) 487-6989 or go to his website www.golowertax.com Catch today’s podcast and our other podcasts from the Real Estate Mortgage Shoppe at www.MortgageLoansBlog.com
Transition Music: “Safe And Sound” by Capital Cities; “Beat It” by Michael Jackson; “Safety Dance” by Men Without Hats Trivia Contest music “Memphis” by Johnny Rivers
Marlene Foster of ADT Security Services—the number one security system. Give Marlene a call at 901 232-6277. Marlene has 15 years in the financial industry and recently begin serving her clients in the home and office security industry. Marlenefoster@adt.com
Brandon Cary of ADT Security Services-the number one security system. Contact Brandon at bcary@adt.com Brandon has 20 years experience in the customer service business and has been working in the home and office security business.
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.