Archive for CDPE
Where are the Most Short Sales in Denver?
Where are the most short sales in Denver?
According to a recent article in the Business Journal, at the end of the first quarter of this year, there were 2,492 single-family short sales in the Denver real estate market. Which county had the most short sales listed for sale? Arapahoe County had the most listed short sales (624), and was followed by Adams (581), Denver (497), Jefferson (393) and Douglas (387) counties. Adams County saw a 34 percent decrease in the number of short sales, which was the largest drop. Short sales continue to plague Arapahoe County, which had the smallest decrease at 2 percent.
Many Denver real estate experts expect to see more short sales in 2010 than in 2009 as more sellers become aware of the process, and new government guidelines make short sales easier.
If you are a distressed homeowner in the Denver area, please contact Arapahoe-county based TeamCox Realtors at 303-400-6060 for assistance. We are Certified Distressed Property Experts, or CDPEs, trained to help homeowners avoid foreclosure in Denver. There are many options to explore before going through a harrowing foreclosure, including loan modification, Denver short sale, and many more. We are here to help, so please give us a call at the first sign of trouble paying your mortgage.
States to Bail out Troubled Homeowners
Several states, including California, Florida, Michigan, and Arizona, plan to bail out their troubled homeowners, using a total of $1.4 billion that the Obama Administration is allotting them. The money will go to help unemployed and underwater homeowners with their mortgage troubles. The plans vary by state, but have two things in common – paying all of part of troubled homeowners’ mortgages for up to two years, and paying down underwater loan balances. Several other states, including Nevada and North Carolina, are also receiving federal funds, but their plans are unknown at this time.
This new plan is obviously very controversial. Advocates for it say it is best to stall the foreclosure crisis that is dragging down property values across the country. Opponents say that it is enabling people to not pay their mortgages and it is immoral.
No luck right now for distressed homeowners in Denver. If you need help avoiding foreclosure in Denver, please contact Team Cox Realtors at 303-400-6060. As trained CDPEs, or Certified Distressed Property Experts, we specialize in helping homeowners find other options other than foreclosure, including Denver short sales, or loan modifications.
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New Guidelines for Short Sales in Denver
There were some new short sale guidelines implemented last month that are already having a large impact on Denver short sales. While they do not apply to Fannie Mae and Freddie Mac loans, they do apply to any lender participating in the Obama Administration’s Home Affordable Modification Program, including Bank of America and JP Morgan Chase. The new guidelines (implemented at the beginning of April) include:
-Banks must now respond to a short sale offer within 10 days. This is a huge relief to Denver buyers and sellers who have waited up to six months for a response in some cases.
-Denver short sale sellers will now receive a $3,000 relocation allowance. They are also relieved of any responsibility for the remaining debt.
- As of April 5th, lenders now receive $1000 to cover administrative expenses and any second lien holder will also get $1,000.
For information on short sales in Denver, please contact TeamCox Realtors at 303-400-6060. We are trained Certified Distressed Property Experts, or CDPEs,specializing in helping distressed Denver homeowners avoid foreclosure in Denver.
Avoid Foreclosure in Denver
Short Sales in Denver
Short Sale Experts in Denver, Colorado
As one of the first Denver-area real estate agents to obtain the title of Certified Distressed Experts, or CDPE, in 2008, we are often asked about short sales - what is a short sale and how does the process work? A short sale is when a qualified homeowner offers his or her lender, in the form of a bona fide written contract, an amount less than is owed on the liens. There may be two or more liens, sometimes there are IRS liens, or other encumbrances that must also be satisfied.
Short sales are becoming an increasingly common alternative to foreclosures, with the number of short sales tripling to 40,000 during the first six months of 2009,
This type of transaction cannot successfully be handled without the knowledge and experience of a trained and skilled real estate agent, preferably with the gold-standard of education – CDPE.
Seven out of 10 homeowners do not get the help they need, which often leads to a foreclosure. This is a devastating alternative. If you need help, please do not delay in contacting TeamCox Realtors – Denver real estate specialist – at 303-400-6060.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
Denver-Area Foreclosures Decline from Last Year
There is good news for the Denver real estate market this week. According to RealtyTrac Inc., Denver-area foreclosure filings decreased 1.6 percent in the third quarter of last year. There were 9,235 Denver-area properties that were in some stage of the foreclosure process in the third quarter, which equates to one per every 113 households.
While a lower foreclosure rate is great news for the health of the general Denver housing market, one distressed Denver homeowner is too many. If you are a Denver homeowner who is looking to avoid foreclosure in the Denver area, please contact TeamCox Realtors at 303-400-6060. We are a CDPE, or a Certified Distressed Property Expert, trained to help homeowners explore alternatives to foreclosure, including short sales, loan modifications, and much more. We have helped numerous homeowners avoid foreclosure and put them on a path to a brighter future.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
Avoid Foreclosure in Denver
A Trained CDPE Can Help You Avoid Foreclosure in Denver
While certain parts of the economy appear to be on the mend, foreclosures are still a lingering problem, with the national foreclosure rate rising over five percent over the summer.
The picture is a bit rosier in Colorado, although foreclosures are still a huge problem. According to RealtyTrac Inc., Colorado had the ninth-highest foreclosure rate in the nation in September, down from the eighth spot in August. Keep in mind, this is a vast improvement from the top spot that are state held a few years ago. There were 6,212 Colorado properties in foreclosure in September, which was a four percent decrease from August, but a 42 percent increase from September 2008. RealtyTrac’s report revealed that approximately one in every 131 Colorado households was in some stage of a foreclosure.
There are many options to avoid foreclosure, including short sales and loan modifications. TeamCox Realtors – Denver real estate specialist – is a Certified Distressed Property Expert, or CDPE, having undergone extensive training to help homeowners avoid foreclosure in Denver. If you are a homeowner in distress, please contact us at 303-400-6060. We are here to help you avoid foreclosure and lead you to a brighter financial future.
TeamCox Realtors – Treating our clients’ real estate transactions as if they were our own.
