| By :
Stephen Daniels
With nearly 1 in 6 homeowners behind on their mortgage payments in the U.S., many real estate agents choose to become certified experts in the area of distressed properties. These are defined as homes that are either in the process of foreclosure or have already been taken back by the lender. Certified Distressed Property Experts (CDPE) can help you explore some of the options that exist if you are facing foreclosure or if you are interested in potentially purchasing a distressed property. Through the Certified Distressed Property Expert training, real estate professionals are taught the fundamentals and paperwork required for short sales. These transactions take place when a lender decides that selling a property for less than is owed will be more cost efficient than proceeding with the foreclosure. Initially, in order to qualify for a short sale, a homeowner must have been able to demonstrate a financial hardship making the short sale necessary. However, since housing values have dropped so much, in order to keep homeowners from potentially just walking away from a home they can afford but choose to not keep, short sales are being approved more frequently for non-hardship cases too. Nevertheless, the short sale process is complicated and difficult. Sellers are well advised to utilize the services of experts to protect themselves and help them navigate this difficult process. Facilitated by the Distressed Properties Institute, CDPE training courses aim not only to facilitate short sales but to help an agent deal with lenders in facilitating the sale of foreclosed properties to potential buyers, whether as a primary residence or an investment property. In resort and high-tourism areas, homes listed in the multi-millions are now being sold at half the price. Southern Florida and its specific regions such as the Treasure Coast is a great example of an area dominated by tourism and very high end and expensive properties. Treasure Coast property valuations have been hard hit, but home sales in the popular South Florida region are on the rise. CDPEs are assisting international investors, local buyers and people looking for a vacation home to find a great property at the perfect price. The certified agents in places like this are able to thrive, and their clients reap the benefits. This stressful time for homeowners can be made easier with Certified Distressed Property Experts who understand the region they serve, the market, and the options available through lenders in your area. Buyers and sellers alike should understand that the CDPE designation is just another feather in the cap of a great local real estate agent. Most successful agents thriving in this difficult economy were helping both buyers and sellers before the economy collapsed, and will still be around after it finally recovers - doing what they do best - assisting people through the complicated process of buying and selling real estate.
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