Archive for January, 2010
January 7th, 2010 categories: San Diego Real Estate
San Diego Real Estate – CDPE Designation Awarded to William Johnson
Earlier this week I completed my live course here in San Diego achieving the new designation of CDPE through the Alex Charfin’s Distressed Property Institute.
Back in the nineties I did a few short sales listings when they were first accepted as means of avoiding foreclosure. Most of the work then was done with the homeowner and the homeowner worked with the loss mitigation department and if there was a hardship many of these homeowners ended up avoiding foreclosure. The consequences at that time for the homeowner were very different.
The short sale process today with the number of distressed homeowners is much more complex and time consuming than it was back then. I recalled being called to take the listing and actually did much less then that I would have to do today in the same situation. The process is more time consuming today having a lot to do with the sheer number of homeowners in distress overwhelming the lenders loss mitigation departments that must make the decision.
Over the past couple years having seeing the real estate business change right before my eyes, I still resisted marketing to the needs of the distressed homeowners thinking I might escape the need to do short sales in my real estate business. Sadly, the distressed homeowners are representing a larger share of the current inventory and in the next few years more and more homeowners are expected to be in this situation. Equity listings are in short supply in my market but the need to help distressed property owners try and prevent foreclosures is on the rise. The need for selling short to help homeoners prevent foreclosure is expected to greatly increase over the next few years.
Knowing something about short sales is simply not enough in this climate. It is necessary to take the course study that teaches the process and provides all the supplemental forms needed for the lender and the transaction. There is also the need to learn specific counseling of the consumer needing to prevent the eminent foreclosure. There is extensive knowledge required and especially in learning and being familiar with the governemnt programs that are currently available or soon will be. While this training helps some mitigate foreclosure, sadly it doesn’t work for everyone. But for each homeowner we help to prevent foreclosure, they become one less statistic and can better get on with the rest of their lives.
The course material and instructor were nothing sort of awesome and I would highly recommend this course presented by the Distressed Property Institute. Short Sales are a lot more work and considerably more time is needed to get the transaction to a successful closing. As real state professionals we must be committed to helping consumers avoid foreclosure even while also knowing that we can’t save them all but we can and do make a difference.
If you are Buying, Selling or Relocating to San Diego and need help from a professional REALTOR®, give me a call or visit my San Diego Real Estate website and sign up for Listing alerts for your favorite San Diego Home and Condominium Property Searches.
I specialize in Single Family Homes and Condominiums throughout the coast and inland areas of San Diego. Some of those communities are La Jolla, University Town Center, Bay Park, Mission Valley, Pacific Beach, Scripts Ranch, Poway, Carmel Mountain Ranch, Rancho Bernardo, Rancho
Penasquitos,Carmel Valley and Solona Beach. If I didn’t mention a city or community that you are interested in, just let me know and i will find you an expert for that community as well.
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