concluded with a consensus that homeowners having difficulty paying their mortgages should contact an educated real estate agent. However, CEO Alex Charfen had to combat another guest's misinformation on short sales and hopelessness about the market to get there. Following is a response from Alex, as well as a recording of the segment on CNBC:
Reflecting on my appearance this morning on CNBC alongside the supposedly informed and aware Howard Glaser, former counselor to HUD Secretary Andrew Cuomo, I believe the debate exposed an unfortunate and ongoing problem of misinformation. Too often we see overreaction by talking heads lacking information about the real estate market, trends, statistics and most importantly, solutions.
There is a prevailing defeatist's view of the market amongst outside pundits. To cite an article in The New York Times as a representation of the entire housing market is, as I mentioned in the interview, anecdotal evidence. The reality is that short sales have increased 1500% in under three years. For Glaser to say that short sales will not be a part of leading our economy out of the housing crisis is to ignore the fact that educated agents are closing short sales regularly.
Short sales are a part of the solution and will continue to be, and dedicated agents who are closing these deals deserve to be commended, not ignored.
If Howard Glaser can't find an agent who can get a short sale closed, perhaps he should simply visit www.cdpe.com.
Alex Charfen, CEO
Distressed Property Institute, LLC
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