Tag Archives: Foreclosure

Why Realtor Certification Matters: CDPE

I’ve been a Realtor along the GA400 corridor (covering Milton, Alpharetta, Cumming, Johns Creek, Suwanee and Dawsonville) since 2002, and have helped more than 300 families buy or sell a home in the area. My experience and knowledge of this market is extensive. With over 12 years’ experience in the Real Estate Industry, I realize the importance of being able to assist my clients with not only their buying and selling needs, but also to be able to help those in need during difficult financial times avoid foreclosure.

Through years of experience, I have developed what I believe is the most effective short sale listing system available: understanding what works; how banks think; and how to get banks to forgive outstanding debt associated with short sales.

In a previous blog, I explained the importance of having the CLHMS (Certified Luxury Home Marketing Specialist) certification.    This time, I would like to explain the CDPE certification.

CDPEA Certified Distressed Property Expert® (CDPE) has a thorough understanding of complex issues in today’s turbulent real estate industry and knowledge of foreclosure avoidance options available to homeowners. CDPEs can provide solutions, specifically short sales, for homeowners facing market hardships.

Homeowners regularly proceed without guidance of any kind through the often financially and emotionally devastating prospect of foreclosure. Speaking with a well-informed, licensed real estate professional is the best course of action for a homeowner in distress. Through comprehensive training and experience, CDPEs have the tools to help homeowners find the best solutions for their unique situations and to avoid foreclosure through the efficient execution of a short sale.

So what is a short sale?

A short sale can be an excellent solution for homeowners who need to sell, and who owe more on their homes than they are worth. In the past, it was rare for a bank or lender to accept a short sale. Today, however, due to overwhelming market changes, banks and lenders have become much more negotiable when it comes to these transactions. Recent changes in corporate policy and the Obama administration have also improved the chances of getting a short sale approved.

But to be technical, here’s a more official definition:

  • A homeowner is “short” when the amount owed on his/her property is higher than current market value.
  • A short sale occurs when a negotiation is entered into with the homeowner’s mortgage company (or companies) to accept less than the full balance of the loan at closing. A buyer closes on the property, and the property is then ‘sold short’ of the total value of the mortgage.

For homeowners to qualify for a short sale, they must fall into all of the following circumstances:

  • Financial Hardship – There is a situation causing you to have trouble affording your mortgage.
  • Monthly Income Shortfall – A lender will want to see that you cannot afford, or soon will not be able to afford your mortgage.
  • Insolvency – The lender will want to see that you do not have significant liquid assets that would allow you to pay down your mortgage.

This seems simple enough, but it is a complicated process that takes the expertise of an experienced professional. CDPEs don’t merely assist in selling properties, they serve and help save their clients in need.

While the market has shown definite improvement in the North Atlanta area, you or someone you know may still need advice on how best to avoid foreclosure during difficult financial times.   Please contact me if you have any questions regarding the short sale process.

Marie Dinsmore, Certified Luxury Home Marketing Specialist

The Dinsmore Real Estate Team  |  www.dinsmoreteam.com

Marie@DinsmoreTeam.com | 770-712-7789770-712-7789

2014 Housing Market Forecast

Housing UpThere was a great article in the Washington Business Journal on the 2014 Housing Market that I thought I would share, quoting two notable Economists.

According to Lawrence Yun, Chief Economist for the National Association of Realtors, good things will continue to happen in the housing market in 2014.   Due to suppressed activity during the past four years, rising demand, and a steady decline in inventory, Mr. Yun expects home prices to increase in 2014 as well as 2015, nationally.   He predicts that the nation median existing home prices should increase by 6% in 2014.

“Real estate will be a hedge against inflation, with values rising 15 percent cumulatively over the next three years, also meaning there will be fewer upside-down home owners,” Yun said. “Today is a perfect opportunity for moderate-income renters to become successful home owners, but stringent mortgage credit conditions are holding them back.”

Mark Vitner, Managing Director and Senior Economist at Wells Fargo, predicts that distressed homes (short-sales and foreclosures) will still be around, but will be declining.  “Distressed homes right now are like an after-Christmas sale – most of the best stuff has been picked over, but make no mistake they’ll be with us for a while.”

Yun projects the market share of distressed sales will decline from about 25% in 2012 to 8% in 2014.

Marie Dinsmore, Certified Luxury Home Marketing Specialist

The Dinsmore Real Estate Team  |  www.dinsmoreteam.com

Marie@DinsmoreTeam.com | 770-712-7789

Community Resources

WELCOME

2019 Welcome Services

The Dinsmore Team has created this handy guide for both Buyers and Sellers. The guide lists trusted service providers that we use personally and professionally. The providers listed service the Forsyth and North Fulton County areas.

2014 Complete Guide to Moving

This 20-Page Guide will be your comprehensive source for selling your home and planning your move. It includes tips for getting ready to sell, planning your move, packing and transitioning into your new home.

2014 Home Owners Tip Guide

This 20-Page Guide will help you develop an annual maintenance schedule for your home's systems and appliances to help you avoid bigger problems by taking care of them while they are small. It's also a great resource for trouble shooting malfunctions on your own, saving you time and money.


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Marie@DinsmoreTeam.com

770-712-7789