Short Sale Volume Up 126 Percent, Agents Answering the Call
September 25th, 2010 in CDPE by cdpe
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(CDPE Designation stands for "Certified Distressed Property Expert".)
We’ve seen tremendous short sale success over the past year, as indicated by the Second Quarter Mortgage Metrics Report released by US Treasury. Short sale volume for all mortgages (including both GSE and non-GSE loans) increased 42 percent over the first quarter, and an incredible 126 percent from a year ago.
This great news is attributable to the hard work and perseverance of real estate professionals across the country, especially CDPE-designated agents. More than 96,000 homeowners in the first half of this year were saved from the negative impact of foreclosure—whether you’ve helped just one family or 100, you should be incredibly proud of your part in this accomplishment!
But this work is far from over. Short sales only represent 26 percent of overall distressed property activity. This means that 74 percent of distressed properties are still going to foreclosure.
While there has been tremendous progress, unemployment and mortgage delinquencies remain at or near record levels and many more homeowners nationwide need your assistance.
Keep up your good work … it’s clearly making a difference!
Eugene Mills, CENTURY 21 Pinnacle. Eugene.Mills@CENTURY21.com
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