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Obdulia Chavez, Ron Hollenbeck, Vickie Mounce, Marie Noble, Robert Sheedy & Cal Speer all of RE/MAX First Advantage in Kennewick, Washington have become the first Tri-City’s REALTORS to earn the prestigious Certified Distressed Property Expert (CDPE) designation, having completed extensive training in foreclosure avoidance and short sales. This is an invaluable expertise to offer at a time when the nation is suffering with increased numbers of “distressed”
Short sales allow the cash-strapped seller to repay the mortgage at the price that the home sells for, even though it is lower than what is owed on the property. With plummeting property values in many parts of the nation, 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.
In the Washington State for the month of May, more than 3,800 home foreclosures were filed bringing the year-to-date total filings to 17,644. It is happening in all price ranges. Local experts say that even high-priced homes are not immune. Although, the Tri-Cities, Washington has enjoyed a much healthier real estate market than most of the nation there are still homeowners facing foreclosure or who are upside down in their mortgage.
“This CDPE designation has been invaluable as our specially trained agents work with sellers and lenders on complicated short sales,” said RE/MAX First Advantage Managing Broker, Nate Biehl. “It is so rewarding to be able to help sellers save their homes from foreclosure.”
Alex Charfen, founder of the Distressed Property Institute in Boca Raton, Fla., said that Realtors® such as these six RE/MAX agents with the CDPE designation have valuable training in short sales that can offer the homeowner much better alternatives to foreclosure, which virtually destroys the homeowner’s credit rating. These experts also may better understand market conditions and can help sellers through the emotional experience, he said.
The Distressed Property Institute opened in January 2008 and provides training on-site and online. The CDPE is the premier designation for Realtors helping homeowners in distress and handling short sales.
“Our goal is to educate as many people as possible so we can help as many homeowners as possible,” Charfen said.
For more information about CDPE designation or to find a certified distressed Realtor in your area, please call 1-800-482-0335.
