You canconnect with me at www.TNRDHomeLoans.com. Our general topic isTHE FALL 2020 REAL ESTATEMARKET-HOW TO PREPARE & HOW TO PROFIT. Subscribeto get Real Estate Mortgage Shoppe podcasts with show notes atwww.TNRDHomeLoans.com Call us whilewe’re live today October 3^rd,2020 at (901) 535-9732.

Whatcan you do to take advantage of this 2020 Fall real estate market? Tom King, our appraisal expert will describe the major factorsdriving homebuyers and home sellers. I will share some top tips forgetting the strongest prequalification letter and the mostcomfortable mortgage terms. We are opening our phone lines to ourreal estate realtors and lenders to offer THEIR top tips fromexperience working with buyers and sellers.

Back in theco-host chair we have Tom King, our expert real estate appraisalexpert. Tom, you have been appraising homes in the Mid-South forover 40 years. You do appraisals for mortgage companies, relocationcompanies, family estate sales, divorce situations, cash home buyersand more. Tom, thinking back over your 4 decades of appraising,what differentiates our 2020 real estate market to fall seasonmarkets in years past? (Tom, describes thefactors in our Fall 2020 market that are different from yearspast)—Shortage of inventory like wehave never seen Even less homes on the market than last year. Demand is high and the supply of homes low –driving up home prices)

• Shortage of inventory causing competition with multiple home purchase offers being made on the same house within a few hours of the home being listed.
• Buyers are motivated to buy homes because of the record low fixed rate mortgage rates that buyers can lock in and enjoy for up to 30 years
• Examples of what you see actively taking place to illustrate these trends
• Advice to sellers on getting the highest price when they sell

(Jo) Whenyou look out the window of your home and you see the weatherchanging, most of us will check our phone or television for a weatherreport. We want to know what to wear and how long it will take us toget where we want to go.

Asa mortgage loan officer, I am seeing some really clever clients andhow they are getting ahead and getting wealthier during this 2020real estate market situation because they take the time to check outthe market conditions.

Luis and Lydia Lopez(avatar picture)

Here are somewinners: First time homebuyers like Luis and Lydia Lopez. They hadworked hard for several years trying to save the money needed to buya house in the school district where they wanted their 5-year old tostart school next year.

Every time theywould get some money put back, some emergency would happen that sunktheir savings and the rent kept going up each year. Lydia admittedshe was the biggest problem, since she had sometimes made quickdecisions to spend money on things she really thought their familyneeded, only to find out she should not have spent the money.

The Lopez’spent four months looking for houses, making offers only to getturned down over and over again. They needed a low mortgage paymentand needed the least down payment at closing. Due to their lowercredit scores, they needed a loan program lenient on credit thatwould still allow them a very low mortgage rate to keep theirpayments down.

Here was thesolution for Mr. and Ms. Lopez:

After theirdaughter was tucked in one night, Mr. and Ms Lopez spent an eveningafter their daughter went to bed to look at bank statements andcredit card statements from the last several months. They determinedthe maximum house payment that they could comfortably afford. Theyset a line in the sand on the max dollars they would pay down.

They got metheir supporting paystubs, bank statements and asked us to reviewthem. We did and I sent her an email about how good her documentswere looking. They did not have a house to sell first and werewilling to work with the seller on a possession date. They wereprequalified for a government FHA loan with 3.5% down payment. Wealso had them prequalified on a conventional 3% down paymentprogram—just in case the seller was concerned about the stricterappraisal inspection requirements.

Their realtorpresented their letters with the home purchase offer. Hard work andperseverance paid off. The Lopez’ got some assistance with themove-in costs and, because of the low mortgage interest rates, theirhouse payment was much lower than the going rent in the sameneighborhood. We celebrated together at the real estate closingtable.

Other verysmart mortgage clients of mine have taken advantage of the record lowinterest rates to sell their home at a much higher price than theypaid for it, take the profits and invest in a larger house in a moreupscale neighborhood so they could care for an aging parent in theirhome. Even though, the house they purchased had gone up in value too,the ultra low interest rate still made the upscale move moreaffordable.

Homeowners canrefinance right now: A. to lower their rate AND payment.

B. They canlower their rate AND shorten the term on their mortgage

C. They canrefinance and roll into their mortgage other higher interest ratedebt, so that all of the debt can be paid at a lower overall interestrate. With the higher cash flow this creates each month, themortgage client has the ability to pay off these mortgage early too.

You’reon Real Estate Mortgage Shoppe. I’m your host, McKenzie Mortgage RD Loans, MortgageLoan Officer. What do YOU want to accomplish with your mortgage?Make your plan. Let’s work your plan if the deal works for youtoday, let’s do it today. When we come back we will be playingthe Look Back Memphis Trivia Contest. Tom King will be sharing moreof his insights about our home values. We are hoping some of our realestate will be calling in too . See you back in just a moment.

THELOOK BACK MEMPHIS TRIVIA CONTEST

^2ndsegment after 9:15 break:OurLook Back Memphis Trivia Contest is brought to you by notableMemphis historian, Jimmy Ogle.Twelve of his Memphis History lectures entitled MakingMemphis – Storytelling by Jimmy Oglemay be viewed by Googling “JIMMY OGLE PINK PALACE”. View atJimmyOgle.com.. The Look BackMemphis Trivia Contest is sponsored by John and Jennifer Lawhon ofLawhon Landscape (901) 754-7474 the Lawhon’s can help you plan yourlandscaping if you have a BIG, BIG project or a smaller project oryou can do the big project in phases . The Lawhons are giving away a$25 gift card to the first person with the correct trivia answer. Ifyou know the answer to our trivia question, call us at 901 535 WREC901 535-9732.

Garner# 187 * 09/26/20

Libertyland

Question: My roots in the Midtown area go back to 1923, and I provided “funfor all” for more than 80 years. Who am I?

Hint:I provided Summer employment for hundreds of Memphis youth each year.

Hint:My design, theme and name changed to a very topical name in 1976.

Hint:Sadly, I closed in 2005 and most of my belongings were auctioned off.

LastHint: Oneof my rides was the favorite of Elvis Presley. Who am I?

Answer:Libertylandopened as an amusement park on the old Fairgrounds Amusement Parksite on July 4, 1976. Before then, the fair had operated on the land,including the Coaster Pippin renamed ZippinPippin with the opening of Libertyland and theGrand Carousel.The city of Memphis decided it was time for a theme park for thecity. It opened in 1976 with several rides, including thepre-existing rides that had operated in that place before. The ZippinPippin was widely popular as it was ElvisPresley‘s favorite wooden roller coaster. In fact, on August 8,1977, Elvis rented Libertyland as a gift for his daughter, LisaMarie Presley. From 1 am until dawn, Elvis, Lisa Marie, Elvis’then-fiance GingerAlden and about a dozen friends rode the park’s thenfourteen rides. The Grand Carousel was also a classic and was widelyappreciated. The park gradually drew in decent crowds over the years,but never made a great profit. It continued to add attractions, suchas a steel coaster called the Revolution, and others.

Thepark operated its last day for a corporate day on October 29, 2005.In early November, a meeting was called before the Mid-South Fairboard of committee to close it. The vote was passed and theannouncement was made public. Their reasonings included lack ofprofit, a steady decline of attendance, and they wanted to extend themidway for the annual Mid-SouthFair which operates adjacent to the park’s site for 10 daysin October. The Zippin Pippin is now in a happy home at Bay BeachAmusement Park in Green Bay, Wisconsin, and the restored GrandCarousel is housed at the Children’s Museum of Memphis.

AnImages of Modern America book entitled Libertylandwaspublished by John Stevenson in 2017, and John maintains theweb siterememberlibertyland.com,andcan be reached atfacebook.com/rememberlibertyland.

Jimmy Ogle hasretired fromwalking tours in Memphis. Twelve of his Memphis History lecturesfrom the Pink Palace entitled MakingMemphis – Storytelling by Jimmy Ogle,andnow more than ten hours Downtown Walking Tours are FREE on theinternet at . . . YouTube Jimmy Ogle.

View JimmyOgle.comfor more info!

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TOPICSCOVERED BY TOM KING, BILL KING APPRAISAL COMPANY

(901)487-6989

Tom givesour listeners a description of what is different in our fall 2020market

• Shortage of inventory like we have never seen Even less homes on the market than last year. Demand is high and the supply of homes low –driving up home prices
• Shortage of inventory causing competition with multiple home purchase offers being made on the same house within a few hours of the home being listed.
• Buyers are motivated to buy homes because of the record low fixed rate mortgage rates that buyers can lock in and enjoy for up to 30 years
• Examples of what you see actively taking place to illustrate these trends
• Advice to sellers on getting the highest price when they sell

___________________________________________________________

TOPICSCOVERED BY JO GARNER, MORTGAGE LOAN OFFICER

1. What makes the Fall 2020 Real Estate Market different than other markets we have experienced?

1. We are experiencing a buyers’ market AND a seller’s market all at the same time.

Themain driver for buyers is the record low mortgage rates. Savvybuyers know that, if they can win at getting their offer accepted topurchase a home, they can lock in a record low interest rate thatwill give them a low mortgage payment for as long as they have themortgage up to 30 years.

1. While rents are going up every year all around these buyers, they can enjoy a fixed principal and interest payment, freeing up more and more cash as incomes go up but the principal and interest payment on the mortgage stays the same.

1. The main profit for the seller is really clear. Home values are still moving up. Realtor.com reported that nationally year-over-year we are seeing listing prices for homes moving up about 10%—a really HOT MARKET. National Association of Realtors reported that the increase in existing home sales from July to August 2020 had increased more than we have ever seen since back in 2006. Home sellers know they can sell their house in record time for record prices.

Thedifference in this hot market and the one we saw right before thereal estate collapse in 2008 is:

#1The mortgages secured on these homes are more sound and borrowerscapacity to pay is much greater.

#2 The shortage of homes and the emerging households ready to breakinto homeownership, makes the forecast look much better than back in’08 and ’09.

1. More preparation to profit this fall 2020? Be prepared. Be preapproved.

1. For homebuyers it is important that you already know your comfort level on a monthly mortgage payment amount and the amount of money you can put down to buy the home you want. Stay within that shelter zone.
2. For the most effective strategy was we see it from the mortgage desk, buyers who are prepared with a strong preapproval letter win the competitive bidding game many times—even if they did not make the highest offer price, can be the winner over other would-be buyers. It might just be that the seller is not looking for the highest offer, but the surest offer
3. Pull a free consumer credit report and review your credit score, your credit payment history and the percentage of the credit limit you owe on credit cards.

Thelaw allows you to pull your credit from the three major bureaus oncea year free of charge. The official site to do this iswww.annualcreditreport.com

Makesure there is no negative erroneous credit on your report. If thereis, you have a chance to get with the creditor and get it corrected.

Over30% of your credit score as of right now is determined on whatpercentage of your revolving credit you are using. For example, ifyou had a credit card with a $1,000 credit limit and you owed over$500, then you would owe over 50% of the credit limit. .

Fornow, you are being penalized with a lower credit score because youare using 50% or more of your credit limit. You actually add somepoints to your score by only using less than 30% of your creditlimit. On a $1,000 credit limit you can put some points on the creditscore by owing less than $300 on that card. You get even more pointsif you own less than 10% of the credit limit. But paying the cardcompletely off may not be good since the credit card company mightnot report at all.

Don’topen any new credit accounts or add balances owed to existingaccounts until after closing.

1. Let’s talk about putting together a winning strategy for you or someone you know.

Whatdo YOU want to accomplish with YOUR mortgage?

1. Put some reputable, experienced real estate professionals on your team.

Buying a house is one of thelargest investments you will ever make and you don’t want to makethe most expensive mistakes you have ever made. A good realtor,mortgage loan officer, title company, appraiser, home inspector andinsurance agent can keep you working smart and saving you fromdisaster. I would love to sign up for the job as your mortgageofficer. But you have to contact me personally so I can work withyou personally. MAKE YOUR PLAN. LET’S WORK YOUR PLAN. IF THE DEALWORKS FOR YOU TODAY, DO IT TODAY. Connect with me atwww.TNRDHomeLoans.com or call me at(615) 924-6215 (615) 924-6215.

CALLER: PATGOLDSTEIN, Crye-Leike Realtors in West TN and West Mississippi

“The GoldStandard in Real Estate” (901) 606-2000 Pat has multiplespecialized designations and is a member of Crye-Leike’sMulti-Million Dollar Club.

Homebuyers need a solid and strong preapproval letter before looking athomes to buy

Beprepared to make your highest and best offer the first time, sinceyou may be competing with multiple other offers from others on thesame home.

Tip ToSellers-Make your home look its best before listing it for sale

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CALLER: FRANCES ANDERSON, Crye-Leike Realtors (recipient of many awards andcertifications including being Lifetime Member of the Multi-MillionDollar Club and Realtor of the Year) (901) 857-2276

Tip tobuyer: avoid contingencies on your home purchase offer. For example,if you make a contingency on the sale of your current home, youroffer might gets passed over in favor of someone that is notrequiring conditions on closing.

Increasethe amount of earnest money you pay when you make your offer. Itshows the seller you are very interested in buying their home. Also,earnest money is credited back to the buyer at closing

Trustyour realtor who is representing you. Trust your lender

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CALLER:Stephanie Koshak, Crye-Leike Realtors (recipient of many awards andcertifications including being a member of the Crye-Leike MillionDollar Club. Stephanie is a certified Real Estate RelocationSpecialist) (760) 445-3234

Tip tobuyer : Do your research. If you know some neighborhoods where youmight like to live, drive around and evaluate the traffic flow, thequality of your commute to work, schools, zoning etc

Tip tosellers: Improve your curb appeal. Clean and declutter the insideof your home.

Make alist of repairs on the house that you have completed with details. This reinforces to the buyer that you have taken care of the home.

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CALLER:DONNA SKAARER, KAIZEN REALTY in Germantown, TN Donna is recipient ofawards and designations including a specialty in new homeconstruction. (901) 489-4182

Tip toBuyer- Communicate with your realtor and your lender. Make a listof what you want and need to give to your realtor. If you decide toexpand your geographical search area or change your location andproperty requirement, let your realtor know as soon as possible sothat she can expand her search for homes for you also

REALESTATE TIP OF THE WEEK McKenzie Mortgage RD Loans shares tip for homeowners taking advantage of refinancingto lower mortgage rate, shorten term, or freeing up cash per month

ANNOUNCEMENTS:

Talk Shoppe offers freenetworking & education to anyone interested in real estate or inbusiness. Talk Shoppe meets every Wednesday 9A-10A CT virtually. Youcan go to www.TalkShoppe.com(Shoppe) Click on the Upcoming Events tab. The website for TalkShoppe’s virtual meeting room will appear. Just click and join us.This Wednesday 9A October 7^th, 2020 Talk Shoppe presents : “October7th Resources and Help From the Pros When You Are Dealing WithDivorce. (Andrew Hartsfield, attorney at law/ Mark Ruleman, RulemanAsset Management & Planning/ Mark Loden, MKL Budgeting Service/Pat Goldstein, Realtor Crye-Leike Realtors/ Lynn McDonald of ErinMcDonald Insurance Agency/ Lloyd Caldemeyer of US HealthAdvisors/Tammy Zurak of Z-Photag Studio/ McKenzie Mortgage RD Loans, Mortgage LoanOfficer NMLS#757308 )

Talk Shoppe events are freethanks sponsors like Leah Anne Morse of All Things New. Leah Annehas a great reputation helping people and families organize to downsize, up size or make lateral moves. Leah Anne can help you with anestate sale too. (901) 488-9733

Thank you to Talk Shoppesponsor Mark Loden, owner of MKL Personal Monthly Budgeting Service.Mark helping his clients use his special system that make budgetingeasy in effectively taking back control of your money and reducingdebt much quicker. Contact Mark Loden at (901) 493-2069

2. (Tom announces) TheTigers are playing this weekend. GO TIGERS!!!

4. Subscribe atwww.TNRDHomeLoans.com and you canget our weekly blog posts with podcasts conveniently in your inbox.

5. Real Estate Mortgage Shoppe reminds you to MAKE YOUR PLAN. LET’SWORK YOUR PLAN. IF THE DEAL WORKS FOR YOU TODAY, DO IT TODAY.

SPECIAL NOTE: REALESTATE MORTGAGE SHOPPE RECOMMENDS THAT YOU CONSULT WITH A FINANCIAL,LEGAL OR OTHER CERTIFIED, LICENSED PROFESSIONAL BEFORE ACTING ORINVESTING ON ANYTHING YOU HEAR OR SEE FROM THE CONTENT ON THIS SHOWOR BLOG POSTS. THE INFORMATION WE SHARE ON REAL ESTATE MORTGAGESHOPPE IS GENERAL IN NATURE MEANT FOR GENERAL EDUCATIONAL PURPOSESONLY. ALL EXAMPLES GIVEN FOR ILLUSTRATION PURPOSES ON REAL ESTATEMORTGAGE SHOPPE AND ARE BASED ON TRUE STORIES BUT CHANGE NAMES ANDCERTAIN DETAILS THAT DO NOT AFFECT THE INTEGRITY OF POINTS WE AREMAKING IN THE EXAMPLES.

QUOTE CORNER:

QUOTE CORNER: from Maxine cartoon “Ialways start running in the fall—not all of me –just my nose”

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REJOINDERS:

1. Pat Goldstein, Realtor with Crye-Leike Realtors in West TN and North Mississippi (901) 606-2000 “The Gold Standard in Real Estate”
2. Real Estate Attorneys Rob Draughon and Shelly Rothman of Griffin Clift Everton and Maschmeyer (901) 752-1133
3. Earl Leake, Leake Insurance Agency, Memphis and the Mid-South. Contact Earl for your commercial insurance to keep you and YOUR business safe. (901) 737-9352

Transitional Music: “Wake Me Up When September Ends” by GreenDay; “California Dreaming” by Mamas and Papas; “Turn, Turn,Turn” by the Byrds; “Memphis” by Johnny Rivers for the LookBack Memphis Trivia Contest

ABOUT TOM KING, REAL ESTATE APPRAISER WITH BILL KING APPRAISAL COMPANY

(901) 487-6989

Tomis a well- respected and sought after appraiser in Memphis,Tennessee. He is a second generation appraiser with 40years of experience. He has been elected to the Memphis AreaAssociation of Realtors Board of Directors three times.

Tomis acertified residential appraiser in Tennessee. He have appraisedover 20,000 homes in his career. A graduate from the Universityof Tennessee with a degree in real estate, Tom is also a CertifiedRelocation Professional (CRP). Tom also has vast experience indealing appraising real estate for pre-listing sales, cash buyers,divorce settlements, estate settlements.(901) 487-6989

ABOUTJO GARNER-MORTGAGE LOAN OFFICER:

WHAT DO YOUWANT TO ACCOMPLISH WITH YOUR MORTGAGE?

www.TNRDHomeLoans.com (901) 482 0354 This email address is being protected from spambots. You need JavaScript enabled to view it. twitter @jogarner NMLS# 757308 (currently working with SierraPacific Mortgage, Inc)

“WhateverYOUR personal priorities are, my job is to help you get the mortgageterms that will give you bragging rights when you talk about it andhelp you score on hitting your goals .”

Asa mortgage loan officer, my job is to help you get to the benefitsyou want from your financing terms. What is most important to you? Ican help you find the financing terms that will help you get to whatyou want. What is your comfort level on a house payment? How muchare you comfortable paying down,? What type of financing do you needto get the house you want to buy or refinance?

Differentclients have different priorities in life—some are buying theirfirst home with very little down payment funds. Some are recoveringfrom medical challenges, divorces or preparing to send children tocollege and some are embarking on a long term goal of buyingproperties to build rental income.”

TNRDHomeLoans is a mortgage officer with extensive knowledge in tailoringmortgages to her customers who are refinancing or purchasing homesall over the country. She offers conventional, FHA, VA or other loanprograms for refinancing and purchases.

Jocan help you look at rent vs buy, when it makes sense to refinance,how to get the best deal on your home purchase financing.

TNRDHomeLoans has been in the real estate/financing business for over 25years. She got her start in Portland, Maine where she firstbegan her real estate career. She received her real estate educationfrom the University of Southern Maine and was personallymentored in San Diego, California by Robert G. Allen, author ofNothing Down,Creating Wealthand The Challenge.

Onmoving back to West Tennessee in 1987, she went into business buyingand selling discounted owner-financed notes secured on real estate. In 1990 Jo went to work for a residential mortgage company and hasbeen a mortgage loan officer for over 25 years. Her goal is tooffer excellent, affordable service to her customers, tailoring theloan programs to the specific needs of her clients.

In addition to her work in the mortgagefield, McKenzie Mortgage RD Loans is the primary sponsor and founderof Talk Shoppe in Memphis. www.TalkShoppe.com McKenzie Mortgage RD Loans also host the radio show Real Estate Mortgage Shoppeairing on News Radio AM 600 WREC and iHeart Radio with podcasts andshow notes published on www.TNRDHomeLoans.com