Local Associate Broker Designated to Help Homeowners

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Deanna & Jim's GOLD Team

Associate Broker  Designated to Help Homeowners in Danger of Foreclosure

Manassas, VA - January 18, 2010 - Broker Associate Jim Gilbert of RE/MAX Olympic Realty in Manassas has earned the prestigious Certified Distressed Property Expert^® (CDPE) designation, having completed extensive training in foreclosure avoidance, with a particular emphasis on short sales. At a time when millions of homeowners are struggling with the possibility of foreclosure, the skills and education accumulated by Gilbert will help his 3-person team benefit Northern Virginia area residents and communities.

Short sales allow the distressed homeowner to repay the mortgage at the price that the home sells for, even if it is lower than what is owed on the property. With plummeting property values, this can save many people from foreclosure and even bankruptcy. More and more lenders are willing to consider short sales because they are much less costly than foreclosures.

Today, more than 13 percent of homeowners are delinquent on their mortgage or in the foreclosure process. This is occurring across all price ranges, and the fastest-growing category of homes in foreclosure is the luxury home market.

"The CDPE designation has been invaluable as I work with homeowners and lenders on complicated short sales," said Gilbert. "It is so rewarding to be able to help families save their homes from foreclosure."

Dave Liniger, chairman of the board of RE/MAX said that the short sale process has been tedious for all involved, "The vast majority of real estate agents have not been properly trained to understand the actual process; the lenders have been overwhelmed with the sheer volume of the inventory; and the investors have not trusted the process."

Alex Charfen, co-founder and CEO of the Distressed Property Institute in Austin, Texas, said that agents such as Gilbert with the CDPE Designation have valuable perspective on the market, and training in short sales that can offer homeowners real alternatives to foreclosure, which can be devastating to credit ratings.

"These experts better understand market conditions than the average agent, and can help sellers through the complications of foreclosure avoidance," he said. 

The Distressed Property Institute provides live and online courses to train real estate professionals how to help homeowners in distress, with a particular emphasis on handling short sales.

"Our goal is to help as many homeowners as possible, by educating as many real estate professionals as possible," Charfen said. "Jim Gilbert has demonstrated a commitment to the struggling homeowners, and will provide much-needed assistance in stabilizing the community."  Gilbert's 3-person team has closed over 400 sales, including over 140 bank-owned properties in the last 10 years.  The team services the area included in the northern Virginia counties of Prince William, Fairfax, Arlington, Loudoun, Stafford and Faquier.