Call one of our amazing Certified Distressed Property Experts (CDPE) today to learn more!
Colorado Springs Real Estate
What is a CDPE?
A Certified Distressed Property Expert® is a real estate professional with specific understanding of the complex issues confronting the real estate industry, and the foreclosure avoidance options available to homeowners. Through comprehensive training and experience, CDPEs are able to provide solutions for homeowners facing hardships in today's market, specifically short sales.
The prospect of foreclosure can be financially and emotionally devastating, and often homeowners proceed without guidance of any kind. The developers of the CDPE Designation believe that the best course of action for a homeowner in distress is to speak with a well-informed, licensed real estate professional. They have the tools needed to help homeowners find the best solution for their situation. Often, when other options have been exhausted, CDPEs can help homeowners avoid foreclosure through the efficient execution of a short sale.
While enduring financial difficulties is challenging for any family, the process of finding a qualified real estate professional should not be. Selecting an agent with the CDPE Designation ensures you are dealing with a professional trained to address your specific needs. For more information, contact a RE/MAX Properties, Inc. CDPE Certified Agent.
CDPEs don't merely assist in selling properties, they serve and help save their clients in need.
The following list includes all Associates at RE/MAX Properties, Inc. who are CDPE Certified. To learn more about these CDPE professionals or to conact them, please click on the name to be directed to the Associates personal website or their email address to contact them directly.
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December 22, 2011 12:40:40
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Colorado Springs Short Sales, The Impact of Short Sales on Your Home and Our Colorado Springs CommunityLeave a Comment >
September 12, 2010 04:58:36
Colorado Springs Short Sales: The Impact of Short Sales on Your Home and Our Colorado Springs CommunityCOLORADO SPRINGS, CO, Sep 10, 2010 - No matter where your financial status falls in today's wide economic spectrum, an understanding of Colorado Springsreal estate short sales and how they affect the value of all homes within our community is becoming more and more important. "Hardly a day goes by without at least one person asking me about the implications of short sales-either in terms of how it affects them as a home seller, or what it means to them as a buyer looking for a great opportunity," says Joe Clement, Broker/Owner of RE/MAX Properties, Inc.. "That's why our company and our sales associates believe it's critical to proactively communicate accurate information about Colorado Springs short sales." Accounts of distressed, or so called "under water" properties, seem to be a daily occurrence. According to Clement, the term "under water" was coined to describe the condition of the outstanding balance of a mortgage exceeding the market value of the home. If a property is under water but the homeowner is current with their mortgage, the situation is of less consequence. If a homeowner stops paying their mortgage, however, lenders have little option but to act. This can result in the forced sale of the property. When a mortgage lender enables the sale of a property for an amount less than the mortgage balance, this is a "short sale." "The problem is, the lower prices that short sales generally command on the market can negatively affect the value of other properties in the Colorado Springs community ... including yours and mine," explains Clement. Homeowners facing financial challenges need to have a better understanding of their many, and in some cases better, alternatives, adds Clement, including loan modification, deed-in-lieu, and foreclosure. "Understanding short sales is particularly important for today's home buyers," explains Clement, "so that they fully understand both the opportunity and the financial return that a short sale-related property purchase can represent ... as well as the pitfalls." Consulting one of the 130 RE/MAX Propreties, Inc. Associates who have specialize training through the Certified Distressed Property Expert (CDPE) certification, could make a world of difference to a seller facing a short sale or foreclosure situation. Our CDPE certified associates have attended extensive specialized training making them valuable resources and assests to their clients who are in a distressed property situation. For detailed information about short sales, please contact one of our more than 130 Broker Associates who are Certified Distressed Property Experts (CDPE) at info@WeSellMore.net, or RE/MAX Properties, Inc.. |
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March 11, 2010 15:40:23
"I have to do a better job getting the word out," Charfen said, referring to a recent Cromford Report showing that roughly 80 percent of homeowners nearing a foreclosure do not have their home on the market. Charfen co-founded the Distressed Property Institute in January 2007 after more than a decade as a real estate agent helping distressed homeowners find solutions to their difficult situations. The organization trains realtors on distressed property sales and offers a Certified Distressed Property Expert designation to licensed agents who complete a training course. The training walks agents through every step of the process, including all the documents banks need. These highly-skilled broker associates then help distressed homeowners work with lenders to approve a sale for a price less than the amount of their existing loan - known as "short sales." Avoiding foreclosures not only helps the homeowner's credit rating, Charfen said, it also helps protect area home values. Today, more than 14,000 agents in the United States have the CDPE Designation. :::::::::::::::::::::::::::::::::::::::::::::: Myth 1: You must be behind on your mortgage to qualify for a short sale. Lenders look for three things: a "verifiable hardship," such as a job loss, pay cut, job transfer, divorce or serious illness; a monthly cash-flow short-fall or pending shortfall and insolvency; or lack of liquid assets that would allow you to pay down your mortgage. Charfen said distressed homeowners often wait too long, and should consult with a qualified agent before burning through savings or trying such desperate measures as using a credit card to cover mortgage payments. Myth 2: Short sales rarely get approved. Charfen has an 85 percent success rate for closing short sales. However, they still take patience, requiring anywhere from 30 to 120 days for lender approval. Myth 3: Banks would rather foreclose than approve a short sale. Charfen said banks typically lose 35 percent more on a foreclosure than a short sale. They also avoid the hassle and liability of vacant properties if they can approve a sale before foreclosure. Myth 4: There's no time to negotiate a short sale. It's always worth a try. In one instance, a broker associate learned on a Friday that an elderly couple's home would be foreclosed on the following Monday. With minutes to spare, she worked with the lender to postpone the foreclosure (the case is still pending). Myth 5: It's fine to make simultaneous offers on short-sale properties. While it may be legal, Charfen bristles at buyers making offers on short sales that are not sincere. Multiple offers clog the system and could force sellers who think they have a solid offer into foreclosure when the offer is rescinded. Myth 6: A short sale is a fire sale. Not just any offer will do. Home sellers may counter; their agents can only bring reasonable offers to the bank, which typically means a little less than market value. Myth 7: Anyone can help navigate a short sale. Charfen suggests home-owners find a broker associate with special training in handling distressed properties. Myth 8: A short sale is not worth the effort. For buyers, short sale properties are often in better shape than foreclosures and are priced to sell quickly. For sellers, there is no lasting stigma for completing a short sale. Myth 9: Short sales are as financially damaging as foreclosures. Unlike foreclosures, short sales are not reported on a person's credit history and don't present problems with employment or security clearances. Home-owners who undergo a foreclosure are ineligible for a Fannie Mae-backed mortgage for five years, while a home-owner who closes a short sale is eligible for a Fannie Mae-backed mortgage after only two years. Myth 10: Short sale negotiations are adversarial. Charfen still hears from buyers' agents who loathe short sales. He once felt the same way. "I'd been told by some you have to be heavy-handed; it's adversarial," he said. "I can't stand high-blood-pressure conversations. I've never been able to do that." Charfen said successful short sales are more a matter of communication and organization - having all the paperwork in order and knowing exactly who needs what when in order to help banks approve a sale. 1 Short Sale Truth: It can be a hassle, but it beats a foreclosure! :::::::::::::::: By Joe Clement, Broker Owner RE/MAX Properties, Inc. Colorado Springs, CO Joe Clement is the Broker Owner
of RE/MAX Properties, Inc. with four offices in Colorado Springs and over 125
Broker Associates with the specialized designation of Certified Distressed
Property Expert. |
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February 23, 2010 15:28:54
In the video above David Knox teams up with Re/Max Properties Inc. in Colorado Springs, Colorado to give some insight into the situation of a financially distressed property. Financially distressed properties, or short sales occur when the mortgage exceeds the value and the owner is behind on the payments. RE/MAX Properties Inc. and their Certified Distressed Property Experts (CDPE) have the tools to assist and provide more favorable options to home owners who find themselves in this situation. Please click the video above for more information on Short Sales and financially distressed properties in Colorado Springs |
