The Patton Property Group's Video eNewsletter Sign Up

Get FREE Bi-Weekly Video Email Real Estate Market Updates

Enter Your Email Address to Get Instant Updates...No Spam. Ever.

Friday, December 19, 2014

Understanding Income To Debt Ratio For Asheville NC Mortgage Pre-approvals

Personal finances play a large role in mortgage approvals. All finance companies examine your assets, income, credit and debts. These affect whether you can obtain a loan and for how much. The following is information that will help you understand the income to debt ratio for Asheville NC mortgage pre-approvals.

Evaluating Income

Lenders will look at your gross monthly earnings. This includes recurring items that can be confirmed. Earnings from work are the most common type of income. Mortgage companies will require paperwork (such as tax returns) for the previous 2 years, giving them a picture of your financial stability. They may request explanations for any unusual items, such as changes in wages or inconsistent figures. Additional types of income can include alimony, real estate investments, and stocks.

Anything that you would like counted must have valid documentation. A history of earnings and expectation of future income can be very helpful. The documentation requested may vary among companies and some exceptions may also apply. It is important to tell your lender about all possible income sources to know what does or does not qualify.

What Counts as Debt

Debt includes all current financial obligations such as charge cards and installment loans. The specific monthly payments on loans and other installment debt are used. For revolving items like credit cards, minimum monthly payments are considered in the calculations. These amounts are normally listed in your credit report. Some companies may agree to exclude debts with under a year remaining in payments or ones that you can verify another individual is responsible for. Total minimum payments are combined to figure out specific monthly debt.

Understanding Income To Debt Ratio For Asheville NC Mortgage Pre-approvals

Lenders compare the total income to debt to come up with the income to debt ratio, which must stay within a certain percentage range. Additionally, mortgage payments plus your monthly debt must also remain within a specific percentage for loan approval. The exact percentage will vary from one company to another and based on the program as well.

For instance, a lender may allow 28 percent of your income to be used for mortgage payments and 40 percent for total debt. Based on these figures, a borrower making 60,000 per year (5,000 monthly) may be allowed up to a 1,400 per month mortgage payment and 2,000 per month in total debt.

Keep in mind that this is strictly an example and considers only the income versus debt part of the financial analysis. There are additional factors such as credit history and program-specific requirements. It is important to consult with a local loan consultant for further assistance with understanding income to debt ratio for Asheville NC mortgage pre-approvals.

Thursday, July 31, 2014

The Preserve at Little Pine

The Preserve at Little Pine, near Marshall, Weaverville, Asheville NC

The Preserve at Little Pine is close to many surrounding small towns of Asheville NC, Hot Springs, Weaverville, and Marshall.
Just minutes from The Preserve at Little Pine you'll discover Hot Springs, which was named for the natural mineral springs flowing underground. Set aside an afternoon for a relaxing dip in the healing waters, then spend the evening visiting the shops and restaurants downtown. You might even strike up a conversation with an adventurer hiking the Appalachian Trail, the famous Maine-to-Georgia path that runs through town.

Head just down the road to explore Weaverville and Marshall. Both of these towns possess a small-town charm of a by-gone era, with shopping and fine dining.

All around you'll find thousands of acres of national forest, so prepare yourself for some of the best whitewater rafting, hiking, skiing and mountain biking in the South. Or plan a Sunday drive along the Blue Ridge Parkway, with stops at Mount Mitchell (the highest point east of the Mississippi), Cherokee Indian Reservation and the Folk Art Center of the Southern Highland Craft Guild.

This community offers 1+ acre Homesites and amenities including a Mountain Lodge Clubhouse, Astronomy Center, a general store, and most unusually an equestrian center with an inside riding ring and 16 horse stalls.
Featured Homesite

  • 1.64Acreage
  • ERSListingType
  • NoneAdditional Status
  • 13Lot Number
-Spectacular long-range mountain views to the south, east and west. Special find building lot located in exclusive gated community of the Preserve at Little Pine, comprised of 2500 acres, 90% is a conservation preserve. Amenities including stocked trout ponds, canoeing streams, equestrian center, hiking/riding trails & more. Located in the wonderful mountain town of Marshall, only 30 minutes to Asheville. Seller is motivated, bring all offers.
"Seller Says" Coming Soon

Thursday, April 10, 2014

Keller Williams Coaching and Training: One Day Courses

Keller Williams Coaching and Training: One Day Courses: Book classes here 1. One day class:  MegaListing Success  For agents who want more listings DISC - are listings your thing? Listing...

Tuesday, March 26, 2013

Patton Property Group Presents Hiring Opportunities with Tyler Elstrom a...

Sunday, March 3, 2013

Check out the power of utilizing video for selling your home, and the power of a listing storyboard that brings your home to life!

Rowena Patton interviewed by John Pohly, February 2013.
Listing storyboard at MegaTech Listing Storyboard featured on Spotlight Carolina

Sunday, January 27, 2013

Latest Housing and market Figures for Asheville NC real estate

SEE the charts here
See the latest Asheville NC and mountain market figures at
In 2012, Buncombe County accounted for as much in sales dollar volume as the 19 other counties in the Western North Carolina MLS combined...
True or false: Buncombe County also accounted for as many units—homes sold—as all other counties in the MLS.
Answer: False—with its average residential home (SFR, TH, Con) of $247, 063, which is significantly above almost all other counties in the MLS, fewer units needed to be sold to dominate 50% of the regions dollar volume. Still, Buncombe accounted for 45% of the units sold in the MLS.
Pics too small to see data? 
SEE the charts here
See the latest Asheville NC and mountain market figures at


Friday, September 14, 2012

Marketing Examples from Patton Property Group

Type: Blog. Sellers love the opportunity to post "seller says" 

This is a blog site where we post what we call our "listing story boards" - this consists of a walking-tour video, a 'realtor' description of the home, and most importantly, what the "seller says" about the home, their neighborhood, where they eat, shop, etc. The "interview" with the seller is usually done online, with this kind of form

The link to each listing story board is shared with the seller, and the seller is asked to send it out to their entire email list, asking their friends and family to comment on why they love the area. The link can also be posted using Twitter, Facebook, Pinterest etc. 

Once the sellers have joined the effort, we reach out to the restaurants, and other venues that the seller has mentioned, and we tell them that "Sarah" has given a shout out to their restaurant, and if they wouldn't mind, it would be great if they could return the favor and post on her blog. We send the link so that they can do that. A personal visit is more powerful - imagine what the restaurant thinks now.....

If you like the way these blogs are put together, and feel the need for some help with educational blogs, check out this link for a demo with getvyral

Questions? Post them at the end of this blog.

Type: Blog. Makes for more interesting email drips and a useful library for team
 This is our educational blog. Postings include market updates, radio show podcasts, topical information. If you need some help in producing a video blog, and topics that go alongside the video, check out getvyral

Main website blog
Type: Blog 
All types of topics go on here, including re-worded postings from the other blog sites

TV: WLOS ABC News 13

Great branding, also useful for drip emails, social media marketing, and a great library for the team
Example of spot
Type: Website

Many 'quick search' or what we call 'easy buttons' and includes video on home page. Thousands of topic pages built over the last 5 years. 

Type: Social Media
Ro uses a personal page,
as well as a business page

Patton Property Group @ KW also has 30 or more 'niche' pages so that we can post specific types of homes, as well as adding advertising to a specific audience.

Questions? Post them at the end of this blog.

Type: Social Media
This is our repository for videos, before we embed them in something else. Every video starts here, and every video is then embedded somewhere else. For example, see client testimonials on website or blogs

Type:Social Media
Tweeting on videos, topics etc

Radio Show
Weekly show on a talk radio station that discusses today's topics in real estate. We have a 'posse' of our 'outside' real estate team, including a builder, loan officer, inspector, appraiser, all of whom add their unique perspective on the topic. Example podcast - we leverage the simple sound podcast to a video with text - creating a landing page. 

If you like the way the podcast is presented (see link above), you may want to check in to BombBomb, who are the company I recommend for video emails. Shockingly easy to use. Remember to use it for landing pages as well as email.

Our Certified approach brings our sellers more money and a faster sale.  Certified = Appraised - Inspected and offering a home warranty.

At the listing appointment, sellers agree to a SIRP - Strategic Incremental Reduction Plan of anywhere between $100 and $10,000 per week for 20 weeks. This keeps the home on the hot list weekly, as well as keeping it going out to property email drips. They can choose to decline the price drop, however noone ever has. At the lowest point, $2,000 for the 20 week period, most sellers can afford this. A reminder is set up for sellers, and they often call us to ask for a larger price drop.

Questions? Post them at the end of this blog.

Investing in Real Estate on the Plain English Real Estate Show

The Plain English Real Estate posse discuss what they think has led to their success, and we pick up last week's show topic, investing in real estate

Monday, September 3, 2012

Winning Investment Strategies, HOLD authors interviewed by Rowena Patton

Steve Chader and Jimmy McKissack join the Plain English Real Estate Show to share their decades of experience in property investing. Click the video above to listen to the ups - and downs - of their journey.

Saturday, April 14, 2012

Take control and get that home sold

Monday, March 5, 2012

What's My Home Worth In Asheville NC?

828 210 1648
Time to give up on old-fashioned real estate to sell your home.

Thinking of selling your home in the Asheville NC area? Patton Property Group sold 60+ homes last year, and we are at 30 pending or closed homes for January and February in 2012! MAKE YOUR HOME ONE OF THESE IN 2012.

Why not make your property more appealing to a buyer’s appetite by garnishing it with a Certification?

Buyers are continuing to test the market, we want to invite them to come out and play the game with us. In a time when buyers are nervous, because they see the distressed properties out there and are afraid that they may end up in the same situation, we would like to offer properties that will create a sense of security and have built in value. By listing properties with a current appraisal on file we send the message to buyers that we understand the competitive market and we really want to sell these homes. Call me to find out more about why an appraisal supports your sale in the transaction process and why buyer agents are attracted to certified homes and are more likely to show them.

Time to step away from old-fashioned real estate, creativity and innovation will get your home sold.

Talk about built-in value - with limited cash flow available to buyers, and buyers spending most of their savings to afford mortgage down payments and closing costs, there is not always a lot of money left on the table to allow for repairs. Remember, buyers tend to be nervous in this market, and with the change in our contract in 2011 adding the due diligence period, they can “walk” from the contract within that period. Call us at 828 419 9115 for more information. Repairs are always a negotiation issue. You have negotiated on the price of your home, without you or the buyer knowing what repairs are necessary.  The inspection will point out safety issues and recommended repairs. You want to know NOW, so that you can repair the little things and choose what to repair on the larger items or disclose them. Get it honest and open, and you create up-front trust with your buyers. Don’t take the chance that they will walk when under contract, or negotiate hard with you for a repair credit, at a time when you don’t have time to shop around for repairs.

Many buyers ask for a home warranty. If you book it at the beginning of the listing, it is charged at closing, and you get free seller’s coverage throughout the life of the listing. This gives us a “marketing lift” where buyers feel a sense of security as you are offering a warranty. Given that you may be asked for one anyway when the offer comes in, this is a way to make use of it throughout the marketing period.

Call our listing team at 828 210 1648
Patton Property Group @ Keller Williams for more information about our approach. Find out what your home is worth and how we market differently.

Tuesday, October 11, 2011

October 8th 2011 Plain English Real Estate with Rowena Patton

Rowena Patton, Scott Raines and Stefanie Beierschmitt discuss marketing techniques and search techniques for buyers and sellers in Asheville NC. Sean Sullivan calls in from the Parade of Homes to give details about his entry. Sean Sullivan who owns Livingstone Construction is the only Asheville winner of the regional Stars building award - he has received this award 4 times!