Pat Owens's (paowens) Blog

THE PERFECT STORM   With interest rates at an all time historic low, why haven't  buyers pounced on the best buys of the century?   In general, the national news has broadcast how horrible the real estate market still is, but what they haven't disclosed is the number of gorgeous homes on the mark...

In my neverending education on Short Sale transactions, I have learned that if there is an IRS lien on a property that is pending as a Short Sale, not only must the seller jump through hoops for the lender(s), but IRS demands an obstacle course to be run. I currently have a short sale transaction...

I am currently working with a couple who is selling their home as a short sale and there is a sizable IRS lien on the property. We have approval on the deal and have about 30 days to get it closed, subject to the IRS lien accepting about 10% of what is owed.  The homeowner is frustrated because a...

I was talking to my daughter who lives in a neighboring city yesterday and she and her husband have outgrown their first home and after adding three children and one rather large dog, it's time to upgrade.  They have done a bit of painting and reflooring since moving in, but let's face it, it is ...

FORECLOSURES-FHA OFFERS A GREAT OPPORTUNITY FOR REAL ESTATE BUYERS  It had been a while since I had really been to an FHA (Federal Housing Administration oversees the housing program for the HUD-Department of Housing and Urban Development) training session and since we all need to revisit areas o...

NEW GOVERNMENT INCENTIVES FOR SHORT SALES  Recently, I heard of this program for the government to pay incentives to the seller and the servicing agent of the loan upon the closing and funding of a short sale.  A short sale is when a property is sold to an arms-length third party and the investor...

Insulation in the attic-appears a cheap alternative to many new "green" innovations.  Good old simple insulation in the attic really works!  Two years ago, we purchased a 10 year old home built by a tract builder.  We bought the home because it appeared it was move in ready, and was everything th...