Darla Pilant, Real Estate Broker with Exit Real Estate Valley, has earned the 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 Pilant over her eight years as a Realtor will help benefit local homeowners.
In a Spokane short sale transaction, the lien holder accepts the selling price of the home, even if that amount is less than (or “short” of) the borrower’s mortgage balance. This option is less harmful to a homeowner’s credit score, does not challenge employment or security clearance, and allows the seller to be eligible for certain home loans sooner than a foreclosure.
The CDPE designation is the fastest-growing independent designation in real estate industry history. Pilant has been a CDPE since January. “There are more than 40,000 CDPEs nationwide, helping troubled homeowners and helping the housing market as a whole get back on track,” Pilant said. “I invested in this training because I wanted to be a part of the solution and help Spokane homeowners who are in a stressful situation. Successful short sales require a high level of knowledge, patience and cooperation.”
Today, nearly 1 in 5 homeowners nationwide are delinquent on their mortgage or in the foreclosure process. With plummeting property values, short sales 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.
“We are seeing a trend in the Spokane market of fewer foreclosures, and more short sales.” Pilant said. “But there are still many underwater homeowners who don’t know what to do. It’s important for them to know they have options outside of foreclosure and that there are specially trained agents who want to help. There is no charge for this assistance, and if homeowners are approached by agencies that charge a fee to help with a short sale, they should be very skeptical,” she continued.
Alex Charfen, co-founder and CEO of the Distressed Property Institute, said that agents with the CDPE designation have valuable perspective on the market in addition to training in short sales as an alternative to foreclosure.
“Our goal is to help as many homeowners as possible, by educating as many real estate professionals as possible,” Charfen said. “Darla Pilant has demonstrated a commitment to homeowner’s challenges in this market, and will provide much-needed assistance in stabilizing the community.”
Darla and her husband LeRoy work as team at Exit Real Estate in Spokane, WA. They can be reached at 509-270-0782, 509-990-5150 or via their website.