JJ Johnston of RE/MAX Northwest in Kirkland has earned the prestigious Certified Distressed Property Expert (CDPE) designation, having completed extensive training in foreclosure avoidance and short sales. This is invaluable expertise to offer at a time when the area is ravaged by “distressed” homes in the foreclosure process.
Short sales allow the cash-strapped seller to repay the mortgage at the price the home sells for, even though it is lower than what is owed on the property. With plummeting property values, 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.
Johnston, who works on the Eastside areas of Kirkland, Bellevue, Issaquah and Redmond stated nationally an average of 1 in every 417 homes got a foreclosure-related notice in November according to RealtyTrac Inc.
“This CDPE designation has been invaluable as I work with sellers and lenders on complicated short sales,” said Johnston. “It is so rewarding to be able to help sellers save their homes from foreclosure.” Johnston has also earned his SFR (Short Sale & Foreclosure Resource) and CSSN (Certified Short Sale Negotiator) designations and hopes to become a valuable resource and assist those facing a distressed real estate situation.
Alex Charfen, founder of the Distressed Property Institute in Boca Raton, Fla., said that Realtors® such as JJ with the CDPE designation have valuable training in short sales that can offer the homeowner much better alternatives to foreclosure, which virtually destroys the 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.
