cdpe designation: Are you on your local media’s radar screen?
- 10/13/11 05:20 AM
September 12th, 2011 in CDPE by Alex Charfen Last week, I was contacted by CNBC and asked to comment on a segment concerning the Federal Housing Finance Agency’s reported plan to sue major banks on behalf of Fannie Mae and Freddie Mac, claiming that banks had misrepresented the quality of the bad mortgages it had purchased. t’s a complicated topic and the debate is going to continue, but I was thrilled to add my input to this important issue. About once a week, in fact, I’m contacted by a representative from a national news organization and invited to participate in … (0 comments)
cdpe designation: Looking to Get Short Sale Leads Directly from Lenders?
- 10/13/11 05:14 AM
September 1st, 2011 in CDPE by Alex Charfen Not a day goes by that we don’t hear from a CDPE member, surprised and delighted by the fact that a short sale listing has seemingly fallen into their lap. Every time this happens, I’m reminded of the old adage: “Luck is what happens when preparation meets opportunity.” As many of you know, major mortgage lenders in this country, including Chase, CitiMortgage and EMC, have recently sharpened their focus on foreclosure avoidance. As a part of that initiative, they are proactively putting mortgage holders who are delinquent on their payments in touch … (1 comments)
cdpe designation: CDPE Agents: Does your market know what you have to offer?
- 10/13/11 04:57 AM
August 17th, 2011 in CDPE by Alex Charfen Those of us who are immersed in the big picture of helping homeowners to avoid foreclosure are perplexed, to say the least, by the fact that in the majority of foreclosures, a short sale is not attempted and a real estate agent is never even contacted. Is this due to a lack of awareness of options? Misinformation? Denial? Distrust? For you, as a CDPE agent who has earned the most important designation in the history of real estate, it’s never been more important to make sure your market knows who you are, … (0 comments)
cdpe designation: Charfen's Blog: CDPE National Member Survey Results
- 06/17/09 07:04 AM
The Distressed Property Institute conducted its National CDPE Member Survey for the second quarter of 2009, compiling some staggering results. See how CDPEs nationwide are better prepared to help distressed homeowners avoid foreclosure by keeping their homes or, when this is not possible, by successfully executing a short sale. SEE FULL SURVEY RESULTS In today's market, it's important to remain educated on issues affecting homeowners and the solutions you can provide, including short sales and foreclosure prevention. … (9 comments)
cdpe designation: Anonymous Testimonials - Don't Use Them - Real People's Names WORK!
- 06/14/09 05:51 AM
When I am deciding to buy a product that has a considerable expense to me (other in the cost of the product or the time I will invest) I read testimonials. I will usually even call the individuals who have given testimonials and ask them questions, get their reactions and see how they feel about the product they purchased. I did this recently for both the security system in my office and for the video broadcast solution we will be using at the Distressed Property Institute to communicate with agents. This process was invaluable and in one case we adjusted our … (40 comments)
cdpe designation: The Distressed Property Institute Responds to National Delinquency Survey
- 06/14/09 12:02 AM
The Distressed Property Institute Responds to National Delinquency Survey Strong reaction needed as foreclosures and mortgage loan delinquencies grow in the first-quarter of 2009 Austin, Tex. – June 9, 2009 – With the Mortgage Bankers Association’s (MBA) recent release of its National Delinquency Survey, the Distressed Property Institute sees continued difficulty for the residential real estate market. “Despite the best efforts of bank and government initiatives, the reality is that an increasing number of homeowners are going into foreclosure,” said Alex Charfen, co-founder and CEO of the Distressed Property Institute, a premier real estate education organization training real estate professionals how … (0 comments)
cdpe designation: Active Short Sales and REOs - used as comparables on an appraisal! Are we the only ones?
- 03/22/08 06:10 AM
Remember the days when an appraiser would actually leave distressed sales out of an appraisal to give you the highest value possible. Now the absolute opposite is happening. Appraisers in our area are using Active Short Sale and REO listings to knock down the value of a retail listing. Are we the only ones who are seeing this? Let us know! Like we keep saying, you are either in or you are out and today in order to be involved in the market you have to understand distressed properties. Alex Charfenwww.1cdpe.comwww.CharfenTeam.com … (10 comments)
cdpe designation: The new market dynamic, are you IN or OUT?
- 03/21/08 10:14 PM
It is time for all of us to face the fact that Foreclosures and Distressed Properties are now a part of everyone's business not just those who have chosen to specialize in them. To see just how massive this market is see my blog on the current size of the distressed market. It has the potential to be 80% of this year's business. The reality is that unless you are in one of very few market that have not been affected by the economic downturn and sup-prime mortgage crisis (like Greenville , SC) you are now part of the distressed … (13 comments)
cdpe designation: If you don’t understand short sales – DON'T LIST THEM!
- 03/19/08 03:41 AM
You may have seen a MLS listing like this: Pre-foreclosure! Motivated seller! Short Sale! All offers considered! Great deal! Subject to bank approval. Then after some quick research you see that the property has been listed for 3 months and is $20K over market value. Or you may have found the perfect house for you buyer, the property is a short sale and you call the listing agent to verify the seller has a legitimate hardship and they ask you "What do you mean by hardship?" The reality is that short sales have caught many agents completely off guard. In some areas 30 … (4 comments)
cdpe designation: Forebearance Plans - what are they and what is 'The Catch' protect yourself and your Home
- 03/17/08 10:12 PM
Unfortunately, the vast majority of homeowners we meet with today are in some kind of financial distress. Many times the only way out for these clients is to sell their property however for some there are ways that they can actually stay in their homes even if they are currently behind on payments and may already be in the foreclosure process. I believe it is important for homeowners to understand that up to the day before bank sale the lender that is foreclosing on them can stop the process for any reason. One of the ways a homeowner can stop this … (2 comments)
cdpe designation: Accept, Learn, Adjust and Close.... What one Agent is doing to address this market.
- 03/17/08 04:56 AM
I want to share with all of you an email I received from a recent CDPE Graduate: Some agents have been asking me about CDPE classes for short sale I attended few months ago. Just to tell you about my experience....I have attended few short sale seminars and classes before going to Alex's CDPE training; I can tell you this in not one more training in short sale, this is THE BEST training I have taken which give us the opportunity to understand how to list the properties in the MLS, when and how much to lower the price, how to submit a complete package to the … (0 comments)
cdpe designation: Short Sales - Should I hire a negotiations company or mediator?
- 03/16/08 10:22 PM
I want to keep this entry simple to make an important point. Agents constantly ask me: "Should I hire a short sales negotiations comapny or mediator that will either take a portion of my commission, add their fees to the HUD or 'charge the lender for their services'. (I take issues with any of these payment methods) My answer is usually pretty simple: "No, I don't believe you should. You would not hire an outside service to negotiate terms and conditions on a non-shorts sale contract. The reality is that short sales are not going anywhere, in some areas this type of deal can account for more than 50% … (31 comments)
cdpe designation: Investor Short Sale, beware of the Double Close
- 03/15/08 10:25 PM
As an author and speaker I am privileged to have high level contacts within some of the most influential organizations in real estate. Recently I had an enlightening conversation with the general counsel for one of the largest title insurance companies in the market and of course we discussed short sales and short sale closings in detail. One of the items that came up is investor purchased short sales and double closes. For those of you unfamiliar with a double close the concept works in this fashion. I contract to purchase a seller's property for a discounted value because I know I … (20 comments)
cdpe designation: Short Sales (with full comissions) are being approved!
- 03/14/08 11:25 PM
Are you one of those agents who has decided you are not going to participate in short sales? Here is what you are missing... Inman News reports that in some areas as many as 50% of all closings are from either short sales, auctions, or REOs. For you, the agent, the easiest way to get back into this HALF of the market is to work with clients that are in danger of losing their homes. You can try to participate in auctions or qualify to handle REOs but the path of least resistance for you is Distressed Properties. This week alone, Cadey (my … (15 comments)
cdpe designation: Distressed Homeowner Success..... Without a Closing
- 02/25/08 03:38 AM
What, how can you possibly have a successful transaction as a Real Estate Agents without a closing? How can this be - aren't our entire lives set up around monthly closings, GCI, and units sold? Successful Non-Closing Given what is going on in today's market, agents need to be familiar with the non-sale options available to homeowners. This means that sometimes you will be in a meeting with someone and you may not actually make a sale but you will save the day for a homeowner in crisis. In our seminars and in my wife Cadey's business we have one commandment … (2 comments)
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