The proper designation is CDPE...And no, it's not an incurable disease and it's not some weird workout program....it is the Certified Distressed Property Expert designation, and you not only want it, you NEED it - whether you know it or not.
This designation is a MUST HAVE and the course is a MUST TAKE! I can't say it any simpler.
One of the greatest tragedies in America today is the fact that there are so many bank-owned properties on the market that could have been successfully divested as short sales. The damage a foreclosure does to a homeowner is life-long, as opposed to the temporary setback of a short sale. And that's not even mentioning the damage a foreclosure does to the neighborhood property values, or the period of time it sits vacant with a dead lawn and weird signs in the windows...
Did you know:
- 2.75% of all mortgages are in foreclosure, but 6.41% are in default?
- 9.61% are distressed?
In this course, I learned that a homeowner in distress doesn't necessarily mean they are a foreclosure or a short sale...A family in distress may still be making their payments - for the time being...but it is only a matter of time before the situation becomes uncontrollable.
This course teaches you to not address the property, but the people. These people need help. And who better to help them - and control the values in your area. If you let a property go to foreclosure in your farm, that sets a new price floor for the market. If you can avoid that, you can help maintain values in your area and be the neighborhood champion.
Did I mention the portfolio of forms and short sale package process they have is incredibly thorough and well organized? CDPE agents close 8 out of every 10 short sales they attempt. Wouldn't you love to have that success rate? I know I would.
Did you realize by representing sellers in a short sale situation you could be opening yourself up to serious legal exposure? Do you currently complete a hold harmless agreement when you list a short sale? I wasn't before, but I understand now the importance of completing one...and that is just ONE form in the set.
Did you know that those sellers who have careers in the military, TSA, law enforcement, or any other sensitive position that uses a security clearance could lose their job if they are foreclosed upon? Again, I didn't either. And I had forgotten that when these people go to buy a home 10 years from now, they will dread completing Form 1003, the mortgage application, when it comes to the last question that asks: Have you ever been a party to a foreclosure? Those foreclosures may leave a credit report, but they will never leave the public record, and they will haunt their victims for decades to come.
The National Association of Realtors has projected that 4.9 million homes will sell in 2009. And the Mortgage Banker's Association has stated that 7.9 million homeowners will receive Default Notices, and have foreclosure proceedings started against them.
We are REALTORS - We should be doing everything we can to prevent foreclosures. I did subscribe to many of the myths that were clearly debunked in this class. And if we are armed with the knowledge to effectively complete short sales, we can stop the bleeding - one agent at a time in one neighborhood at a time - and collectively as a group, change the direction of the real estate market in our nation.
I want to be part of the solution. Do you? If you do, get educated. Get your CDPE designation. Go to http://www.cdpenow.com to find a course near you.
I am proud to say that I completed my designation, passed my test, and am officially a Certified Distressed Property Expert. I am ready to go to work for Northern Nevada families in distress. I am happy to take on referrals from other agents, mortgage brokers and lenders, and any other professionals that don't want to do all the hard work required to help someone facing a short sale. If you know someone who needs help, please ask them to call me. You can reach me anytime at (775) 881-8223.
Posted By: Christianne Gordon - Northern Nevada Real Estate Agent - Realtor
with RE/MAX Realty Affiliates, specializing in Carson Valley Real Estate and Northern Nevada Real Estate.
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Christianne Gordon, REALTOR®, CDPE, SFR, , PSC, e-PRO
Certified Distressed Property Expert - Short Sales & Foreclosure Resource - Pre-Foreclosure Certified
RE/MAX Realty Affiliates - Great Nevada Homes, Inc.
Direct: (775) 881-8223
Visit us online at GreatNevadaHomes.com or CarsonValleyShortsales.com
The information in Christianne Gordon's blog is deemed accurate but not guaranteed. Any individual considering a short sale should also seek independent tax and legal advice to get specific information as it relates to their personal situation. Christianne Gordon is a licensed real estate agent with RE/MAX Realty Affiliates serving the entire Northern Nevada region including Reno, Sparks, Carson City, Washoe Valley, North Valleys, Fernley, Dayton, Stagecoach, Minden, Genoa, Gardnerville, Smith Valley and Yerington.
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