How do you know when the time is right to make a big change, a big decision? Realtor expert, Pat Goldstein with Jo Garner, mortgage expert share examples of how to SEE the signposts and examples of customers have had great timing on their purchases. Good tips from Lawren Bogard of Shelby Gardens Memory Care too.
Host: #JoGarner #MortgageExpert #LoanOfficer 901 482-0354
Co-Host: #PatGoldstein #MidSouthRealtor 901 606-2000
Special Guest: #LawrenBogard #midsouthmemorycare 901 713-1681
Subscribe for weekly Real Estate Mortgage Shoppe podcasts with show notes www.JoGarner.com
#homebuyer #firsttimehomebuyer #movingupbuyer #realestateinvestor #memphismemorycare #memphisrealestate #memphismortgage
LET’S GET STARTED…(Jo) (Good morning, Memphis! Welcome to our internet listeners and podcast listeners across the 50 states! . You’re on Real Estate Mortgage Shoppe. I’m your host, Jo Garner, Mortgage Loan Originator. You can connect with me at www.JoGarner.com. Our topic: WHEN IS THE BEST TIME TO BUY OR SELL A HOME? HERE ARE THE SIGNPOSTS TO GUIDE YOU. Thank you to real estate attorneys, Rob Draughon and Shelley Rothman of Griffin, Clift, Everton and Maschmeyer for sponsoring the episode. Today is May 17th, 2025. Call in to the live show at 901 535-9732
Introducing Pat Goldstein, Realtor with Crye-Leike Realtors
(Jo) Pat Goldstein, realtor with Crye-Leike Realtors is back in the studio. Pat Goldstein, you are known as the Gold Standard in real estate. With 40 years in the business, you have a pretty good idea how to read the signs when it is time to buy or sell a home. Somebody said today, you have earned so many awards and educational certifications, you could not remember them all. Take a moment and introduce yourself to our listeners and tell us some of the services you offer your real estate clients. (Pat has about a minute and a half to introduce herself and talk about the services she offers)
(Jo) How do you know when the time is right to make a big change, a big decision? Some people will not make a move until the situation gets so miserable they jump into the change for relief. Some of my mortgage clients enjoy stepping out of the ordinary routine. Others are afraid of making a mistake.
Do you know what you want your life to look like, feel like? Where do you want to live? What kind of home will allow you to live the way you want? Maybe it is a step-by-step process. Once you know the type life you are seeking, it is easier to recognize the SIGNPOST that will lead you closer to your destination.
Should we buy a home or rent? Brent and Bella Beaumont’s story-MULTIPLE EXIT STRATEGIES
Brent and Bella had been renting an apartment in an neighborhood that seemed to be attracting more crime. When they first got married and moved into the apartment the rent was less than $900/month but now it was over $1,000 per month. When Brent and Bella got the news they were going to have their first baby, the apartment, they realized was too small for their growing family. The payment was too large.
How were they going to find a bigger home with a smaller payment? The other challenge was they had very little in savings to put down on a house.
The decision to rent vs buy? Brent and Bella didn’t think they had a choice, but they didn’t want to feel stuck.
The realtor showed Brent and Bella several homes and they finally got their offer accepted from a seller who agreed to pay most of their closing costs . Their realtor pointed out two advantages of buying the home they were purchasing. As their loan officer, I pointed out two more advantages that would give the Beaumont’s, not one, but multiple exit strategies so they would never have to feel stuck.
The first advantage, the realtor pointed out, was that in the neighborhood where Brent and Bella had decided to buy, home values had traditionally increased in value over time. That meant that 3 to 5 years down the road, they could probably sell the home and buy another home if the need arose to move.
The second advantage, the realtor pointed out was that the property the Beaumont’s were purchasing was located in a strong rising rental market. If the trend of rising rent rates remained steady, the Beaumont’s would also have a choice of buying a new home later on and using this property for income-producing rental income -just in case the home selling market was tougher a few years down the road when and if the Beaumont’s decided to move to a different home.
The third advantage, as their mortgage officer I got to point out to them, was that the mortgage program they were using was a government FHA assumable loan. That meant, if the Beaumonts could not sell their home outright in a future market and they did not want to use the property as an income-producing rental, they could allow someone to qualify with their mortgage company to take over payments or assume their mortgage instead of the future buyers having to get a new loan
The Beaumont’s had three possible positive exit strategies on buying their first home. They could enjoy that peaceful feeling of being free and not stuck. They got some down payment assistance from the city of Memphis and some gift money from parents too and bought their home with about $500 down. They moved into a much larger home than the former cramped apartment with a fixed interest rate payment a couple of hundred dollars less per month than what they had been paying rent. A very SWEET deal for the Beaumont’s and their sweet little one on the way.
(Jo) Pat Goldstein of Crye-Leike Realtors, you have helped so many homebuyers and home seller s over the last 40 years, you definitely know how to read the signposts to know when is the right time. (Pat shares her wisdom until the 9:15Aam break. She can continue when we come back from break)
OUTRO: You’re on Real Estate Mortgage Shoppe. I’m your host, Jo Garner, Mortgage Loan Originator. What do YOU want to accomplish with YOUR mortgage? I can make the mortgage process EASY for you with the right mortgage. Connect with me at JoGarner.com When we come back, we will be hearing more from Pat Goldstein, Realtor with Crye-Leike Realtors. We will also be hearing from Lawren Bogard of Shelby Gardens Memory Care. We will see you back in just a moment.
2nd segment 9:18 am – 9:30 am
2nd segment is after 9:15 break from about 9:18Am to 9:30 AM break
It’s time to talk shop with Talk Shoppe’s Business Tip For Real Estate Professionals. Talk Shoppe is a marketing company offering free education and networking to anyone interested in real estate or in business or health and wellness. Talk Shoppe is made possible by the financial support of its sponsors. For more about Talk Shoppe, go to www.TalkShoppe.com (shoppe) For our Talk Shoppe Business Tip today we have Lawren Bogard of Shelby Gardens Memory Care. Shelby Gardens Memory Care is known for your flexibility in pricing for your residents and providing highly trained care givers for them too. Talk Shoppe sponsor Lawren Bogard of Shelby Gardens Memory Care. Lawren, what is our Talk Shoppe tip today?
Lawren Bogard gives his 1-min or so tip:
901 713 1681
LAWREN BOGARD, SHELBY GARDENS MEMORY CLARE
Signposts that your aging family members may need help. When they have communicated in one way or another, that they are not in a position to care for a big house or a big lawn. They many also be exhibiting signs that they would be less stressed living where they can get assistance where they need it.
Many family members live out of state and have demanding jobs. Shelby Gardens Memory Care has trained consultants that can help you know your options and help you feel good about the decisions you are making for and with your loved ones.
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TOPICS COVERED BY PAT GOLDSTEIN, REALTOR WITH CRYE-LEIKE REALTORS
(901) 606-2000
SIGNPOST : First-Time Homebuyer- Rent keeps moving up
Rent vs Buy Example: The couple who had been renting for years, putting up with steady increases in their rent. But, the year the landlord informed them their rent would be going up a whopping $300/month, they decided it was worth it to get out of their routine and buy a home of their own.
The happy part of this story was that they purchased a home that was larger than their living space in the apartment with an extra bathroom—and their mortgage payment was less than what they would have been paying in rent for the smaller place .
SIGNPOST Discussion between children and their mother about time to simplify
Transition to a simpler life: After making some wonderful holiday memories with the family, the adult children and their parents had an honest discussion about the needs to downsize to a simpler life.
The aging parents had put a lot of work in the family home, but they could no longer keep up with the repairs and had admitted to their children, that they did not feel safe driving anymore due to the symptoms from medication.
The children lived away and had their own homes, so they all decided together it was better to sell the family home to someone who could enjoy it like they did.
The search was on to find the best place that would bring happiness and good care to their parents. The next move would be to an assisted living facility that provided recreation and social events and good care.
SIGNPOST : Move Up Buyers to be closer to family who need them
It is easy to just stay in the same house enjoying a low 3.5% mortgage rate. You can say no to a lot of opportunities to move and enrich your life living somewhere else. Sometimes the signposts are frequent and very compelling.
When you need to move closer to family to support them or have better support.
Even though mortgage rates are higher than the rate you got a few years ago, you may be surprised how low your next mortgage payment can be if you sell your home and use the profit to make a large down payment
SIGNPOST: Time to sell the old home to buy a new one that fits new lifestyle
During the pandemic years when businesses required their employees to work from home, the trend stuck . A couple who did not have any room to work from home and were both trying to work their separate jobs from the same kitchen table, the signpost was clear that it was time to move.
By selling their home and paying down a large down payment, the new mortgage payment wasn’t huge. The new home had spaces in the home that allowed two work-from-home office areas.
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3rd SEGMENT 9:35 AM-9:45AM)
TOPICS COVERED BY JO GARNER, LICENSED MORTGAGE OFFICER
Lydia Lovelace’s story—Do You Love where you live and need to make changes but want to stay? Signpost: Easiest way to take care of family
Lydia Lovelace (not her real name) called me with this dilemma-should I stay or should I go? Instead of downsizing after retiring, she invited her daughter and son-in-law to go in together to buy a larger home with a mother-in-law wing and sell Lydia’s home.
The problem was that her daughter’s family really liked the old home place, its land and the pond and woods out back and the layout of the house. Ms. Lovelace had a licensed contractor come out and look at the feasibility and costs of separate living unit to the existing homeplace so that Lydia could have her private space.
The family looked at other homes and got estimates on what it would costs with money down and payments per month on other homes with the right layout and proximity to work and shopping and doctor’s offices. They compared these numbers to what it would costs to remodel and add the extra living space onto Lydia’s existing home. The decision ended up being to make the modifications to the home and for everyone to live in remodeled existing home instead of moving.
They compared doing a cash out refinance on the home to get the funds to remodel or getting an interest-only home equity line of credit to cover the costs of remodeling. Since the daughter’s family and Lydia’s would be taking over the mortgage payments, the decision on how to finance the remodeling of the home would be a group decision.
COMMON SIGNPOSTS GUIDING HOMEOWNERS TO THE LIFE THEY WANT
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First-time homebuyers. For first-time homebuyers who qualify for special financing, you can enjoy a lower-than-market interest rate with a lower payment. You can get some assistance with the down payment too.
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Move-up buyers. These are buyers who want to move up to a bigger house or they want to move closer to the job or to their family . Some of these buyers have put off moving because they have a low rate on their existing mortgage. Some of these homeowners do not want to sell right away. What if I told you, I have a way for you to move to where you really want to live without having to sell your old house right away and STILL get to enjoy a very low payment? Would you be willing to move? Call me and I can show you how .
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Homeowners who need to care for an aging loved one. They are deciding where they need to live or how they can modify their home to accommodate their family that needs care.
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Investors. These are people who want to build income and a larger net worth buying real estate investment homes. The mortgage company where I am affiliated, just brought a lot of these mortgage programs in-house. Pricing is much better this year. Let’s talk about your plans and put together some strategies.
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Some of my clients want to buy a second home in their favorite vacation spot.
Are you trying to decide how to downsize”? MAKE YOUR PLAN. LET’S WORK YOUR PLAN. IF THE DEAL WORKS FOR YOU TODAY, LET’S DO IT TODAY. I can make the mortgage process easy. Connect with me at www.JoGarner.com You can email me at Jo@JoGarner.com or call me at (901) 482-0354
REAL ESTATE TIP OF THE WEEK
Lauren Bogard of Shelby Gardens Memory Care Real Estate Tip of the Week (about 1.5 minutes)
When you are assisting a loved one in downsizing from a 3,000 square foot home to a 1,600 square foot to 800 square foot apartment. Spend extra time helping your loved one consolidate and select the items to take with them when they downsize. These special items will be the ones that anchors your loved ones to the best memories and things that makes a home a home.
Pat Goldstein’s Real Estate Tip (about 1 minute)
Put reputable, experienced realtors on your home buying or selling team. These professionals can help you find the right houses and structure the transaction so that you know you have made the right decision.
Jo Garner’s tip (about 1 minute)
Friends don’t let friends call 1-800 numbers to do their mortgage
Even though there are some great mortgage companies out there, some of my clients that have opted to use an online company, have come back saying they wished they had not fallen for the extra low interest rate lure. A few days before closing the loan gets denied and the company makes a “counter offer” that made the customer wish they had stayed with the local company they were originally working with. If you do plan to use an online company or 1-800 number company, make sure you check their customer reviews. If they have not given other customers the low rate they promised, they probably will not give you the low rate they offered either.
What do YOU want to accomplish with YOUR mortgage? I have the knowledge and experience. Let’s look at traditional mortgage products, alternative mortgage products and even combinations of products. I can help you get you what you need and make the mortgage process EASY. Jo Garner, Mortgage Loan Officer 901 482-0354 www.JoGarner.com
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Subscribe for weekly Real Estate Mortgage Shoppe podcasts with show notes at www.JoGarner.com
SPECIAL NOTE: REAL ESTATE MORTGAGE SHOPPE DOES NOT ENDORSE 100% OF THE CONTENT ON THIS EPISODE. REAL ESTATE MORTGAGE SHOPPE RECOMMENDS THAT YOU CONSULT WITH A FINANCIAL, LEGAL OR OTHER CERTIFIED, LICENSED PROFESSIONAL BEFORE ACTING OR INVESTING ON ANYTHING YOU HEAR OR SEE FROM THE CONTENT ON THIS SHOW OR BLOG POSTS. THE INFORMATION WE SHARE ON REAL ESTATE MORTGAGE SHOPPE IS GENERAL IN NATURE MEANT FOR GENERAL EDUCATIONAL PURPOSES ONLY, AND NOT AN OFFER TO LEND. EXAMPLES GIVEN FOR ILLUSTRATION PURPOSES ON REAL ESTATE MORTGAGE SHOPPE AND MOST ARE BASED ON TRUE STORIES BUT WE USE FICTIONAL CHARACTERS AND DO NOT DIRECTLY REFLECT REAL PEOPLE OR EXACT DETAILS IN ANY OF THE SITUATIONS. JO GARNER IS A LICENSED MORTGAGE LOAN ORIGINATOR. (EQUAL HOUSING OPPORTUNITY)
QUOTE CORNER:
“They always say time changes things, but you actually have to change them yourself.
~ Andy Warhol, The Philosophy of Andy Warhol
REJOINDERS:
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Troy and Lynn McDonald of Erin McDonald Insurance Agency 901 849-7101
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Peggy Lau, Travel Club Rep of Viago (901) 289-0747
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Ed Hill of Masters Roofing 901 273-6594
Transitional Music: “Signs, Signs Everywhere A Sign” by Five Man Electric Band, “Just Gimme Some King of Sign” Brenton Woods; “Where Do We Go?” No Mercy; “Taking Care of Business” Bachman Turner Overdrive for Talk Shoppe Business Tip
PICK UP YOUR COPY OF “CHOOSING THE BEST MORTGAGE-THE QUICKEST WAY TO THE LIFE YOU WANT” by: JO GARNER
An essential guide for real estate professionals and their customers.
On Amazon and Barnes and Noble
ABOUT PAT GOLDSTEIN, REALTOR WITH CRYE-LEIKE
(901) 606-2000
2006 MAAR Realtor Associate of the Year 2005 MAAR Presidential Award Recipient TAR Leadership Graduate Member National Association of Realtors
Life Member of the Multi-Million Dollar Club. Toastmasters Division Governor CBS (Certified Builder Specialist)
CRA (Certified Relocation Associate)
CRS (Certified Residential Specialist)
GREEN (Green Agent)
GRI (Graduate, Realtors Institute)
MMDC (Crye-Leike Multi-Million Dollar Club)
SRES (Seniors Real Estate Specialist)
SRS (Seller Representative Specialist)
Vice-President (Circle of Excellence)
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ABOUT JO GARNER-MORTGAGE LOAN OFFICER:
www.JoGarner.com (901) 482 0354 jo@jogarner.com X @jogarner NMLS# 757308
(currently working with Everitt Financial dba Supreme Lending)
ONLINE LOAN APPLICATION : https://jogarner.supremelendingLO.com
“Whatever YOUR personal priorities are, my job is to help you get the mortgage terms that will give you bragging rights when you talk about it and help you score on hitting your goals .”
As a mortgage loan officer, my job is to help you get to the benefits you want from your financing terms. What is most important to you? I can help you find the financing terms that will help you get to what you want. What is your comfort level on a house payment? How much are you comfortable paying down,? What type of financing do you need to get the house you want to buy or refinance?
Different clients have different priorities in life—some are buying their first home with very little down payment funds. Some are recovering from medical challenges, divorces or preparing to send children to college and some are embarking on a long term goal of buying properties to build rental income.”
Jo Garner is a mortgage officer with extensive knowledge in helping her clients find the right mortgage program and making the refinance or home purchase mortgage process EASY. She offers conventional, FHA, VA or other loan programs for primary residences, second homes and investment properties.
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 30 years. She grew up in West Tennessee and got her start in real estate 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 30 years.
In addition to her work in the mortgage field, Jo Garner is the primary sponsor and founder of Talk Shoppe in Memphis. www.TalkShoppe.com Jo Garner also host the radio show Real Estate Mortgage Shoppe airing on News Radio AM 600 WREC and iHeart Radio with podcasts and show notes published on www.JoGarner.com Pick up Jo Garner’s book on Amazon or Barnes Noble “Choosing the Best Mortgage-The Quickest Way to the Life You Want”