CDPE Designation Shows Verifiable Solutions for Homeowners in Jeopardy Stephenson & Albers Real Estate Team of RE/MAX Results
Jeff Stephenson & Steve Albers are both Certified Distressed Property Experts. They have a professional negotiating team on staff to ensure a seamless system, while expediting bank approvals. Furthermore they will have available to you, at no charge, a credit restoration program.
7 out of 10 homeowners in foreclosure proceed without the assistance or advice of qualified real estate professionals. If you or someone you know is among millions of people affected by the prospect of foreclosure, understand that you have options. Be sure to call the Stephenson & Albers Team to find the best option for your specific situation.
Born and raised in the Twin Cities, Steve and Jeff know this market well. Their expertise along with their many industry contacts helps to ensure your home buying and selling experience is smooth and fiscally disciplined. Their team offers over 50 years of real estate experience. Call them today.
Jeff Stephenson, CDPE© Steve M. Albers, CDPE©
(612) 578-8820 (763) 229-9067
Our Q3-2009 Update to "Foreclosures and Short Sales in the Twin Cities Housing Market" has just been released. Here's a few highlights: The inventory of available foreclosures is shrinking very quickly, while short sale inventory is not. Lender-owned foreclosure inventory available for sale in the Twin Cities is down 60 percent from last year, falling from an estimated 4,886 at the end of last September to 1,960 this September. Short sales are a different story—basically holding steady over the last 12 months. 
The simple reason for this growing chasm is that foreclosures are selling roughly three times as frequently as short sales. Many consumers have reported considerable delays and uncertainties associated with making an offer on a short sale home. These complications are likely the main cause of the relatively quiet sales activity. With heavy demand and dwindling inventories, there is only 1.5 months of lender-owned foreclosure supply remaining. Conversely, there is currently 13.9 months of short sale inventory available. A balanced market between buyers and sellers should have 5 or 6 months of supply. Blend of information and member services provide marked improvements in short sale transactions.
Certified Distressed Property Experts (CDPEs) have reported a 49 percent decrease in the average time to complete a short sale after achieving the CDPE Designation, according to a new survey from the Distressed Property Institute. Before becoming a CDPE, the average time for these agents to close a short sale was 53.01 days, compared to 27.26 days after becoming a CDPE.
“No other real estate designation in the country can claim these results,” said Alex Charfen, co-founder and CEO of the Institute. “CDPEs are making a clear and definable difference in the real estate market by assisting distressed homeowners to stay in their homes or, when this is not possible, by helping them sell through a short sale.”
A short sale occurs when the lender accepts the selling price of the home, even if that is less than the mortgage balance. Recently announced program extensions of the government’s Making Home Affordable Program have supported short sales as an option to be considered for distressed homeowners.
“Long timeframes and the lack of success in closing deals are the top complaints among all parties involved in short sales,” Charfen said. “We’ve now shown that our systems and processes for real estate agents are proven to close these transactions more rapidly and help solve this issue.”
“This shortened timeframe will increase the amount of properties that sell, therefore decreasing the amount of homes being lost to foreclosure,” Charfen continued.
The survey also found that CDPEs have been able to keep distressed homeowners in their homes more than twice as often as lose a property to foreclosure. Among respondents, the average number of clients they had helped to keep their homes was 1.84, as opposed to 0.82 being lost to foreclosure.
“In these instances, there is no promise of income to the agent,” Charfen said. “This statistic shows how CDPEs are living the message of putting homeowners first, and creating success while doing it.”
Other key survey findings among CDPE-designated agents include:
40 percent of their active listings are distressed properties.
Distressed properties comprised 41 percent of their sell-side transactions completed over the past 12 months. When looking at 2009, this percentage increases to 46 percent.
For their buyer-side transactions over the past 12 months, 42 percent were distressed properties. In 2009, this percentage jumps to 56 percent.
Over time, as part of the CDPE membership organization, CDPEs have continued success closing short sales. Agents who have been CDPEs for 11 or more months have closed an average of 10.72 short sale transactions.
“As banks and the Obama administration continue their efforts to solve the foreclosure crisis in America, CDPEs are on the ground, working with these new plans and regulations, striving to make a real difference to distressed homeowners nationwide,” Charfen said.
About the CDPE Designation
The CDPE Designation provides real estate industry professionals with detailed information on how to engage with and assist homeowners in distress. With more than 7,500 professionals trained across the United States, the CDPE is one of the fastest growing designations in real estate industry history. The CDPE designation has been endorsed by RE/MAX International and other major U.S. brokerages and industry icons, including: Dave Liniger, chairman and co-founder of RE/MAX; Howard Brinton, founder of STAR POWER® Systems; Bob Corcoran, founder of Corcoran Coaching and Consulting; Brian Buffini, founder of Buffini and Company; and David Knox, founder of Knox Productions.
About the Distressed Property Institute, LLC
The Distressed Property Institute trains real estate professionals to engage with and assist homeowners facing hardships. The Institute has developed a curriculum to provide the tools and knowledge to handle distressed properties, including short sales, deeds-in-lieu, mortgage modifications, forbearance, refinances, reinstatements and, if that fails, how to help homeowners through the foreclosure process.
TESTIMONIALS FROM INDUSTRY EXPERTS
Dave Liniger
Chairman and Founder RE/MAX International
“The CDPE Designation is the most effective educational solution we have seen to address this market. We feel so strongly about the message that the top RE/MAX management team has earned the CDPE.” Brian Buffini
Chairman and Founder Buffini and Company “… CDPE is the only short sale training program that I recommend.” Dave Jenks
Chief Visionary Officer Free Enterprise Warriors “The CDPE, in structure, content and effectiveness, rivals any course on the market today. It is a must for every real estate professional.” Howard J. Brinton
Founder Star Power Systems “At a time when consumers are fearful of losing their homes, the Realtors® who can provide concrete solutions for the distressed homeowner will not only be establishing a client for life, they’ll be personally aiding our nation to solve the current housing crisis. The CDPE Designation is a body of knowledge that aids its members in doing both.” David Knox
Founder David Knox Productions, Inc. “Many home sellers today are faced with two painful choices, selling their home at a reduced price or facing foreclosure. The CDPE gives Realtors® the tools and skills necessary to help homeowners avoid the worst option: foreclosure.” Bob Corcoran
Founder Corcoran Coaching and Consulting “[Alex] offers a strong product and an education platform for real estate agents looking to broaden their business. The material is top-shelf and will definitely launch you to the head of the class in handling this area of real estate.” |
