Elva Branson-Lee, CDPE

Real Estate Agent turned 'Change Agent' - Pt. 3

Because I'm a Change Agent, and not just a real estate agent anymore, and because the health of my business is so closely tied to the health of my community, I can't afford NOT to give away what I know.

Especially when I'm looking for people to help.

That's why I've drawn from my past work with pre-foreclosure clients, as well as the combined experiences and knowledge of my team of real estate experts, and put together an informative e-book to share with my Georgia neighbors everything that I have learned as a REALTOR about how a person can avoid foreclosure in Georgia. It's short and easy to read and understand.

It's also available FREE for the asking at http://AvoidGeorgiaForeclosure.com, and is intended for people in distressed situations, and for the neighbors, friends and family of such home owners. It seems almost everybody knows somebody who is going through it in the current economy. The e-book offers proven strategies for anyone facing a possible bank foreclosure on their real property due to relocation or hardship. I hope it will instruct Georgians on their options, and that they will identify specific information and tactics contained in the book which they can immediately put into action to avoid bank foreclosure.

Because I am a stakeholder in the community both as a resident and as a REALTOR, I want to spread the word quickly and without price constraint. It's too important to hold back.

And hopefully some of them will call on me so I can answer any remaining questions. Then maybe I'll have the opportunity to review their situation and help them identify an appropriate non-foreclosure course of action based on their particular circumstances and needs. And maybe some of them will find their very best option is to list with me for a short sale.

I'm interested to know, what other agents are doing in their markets to address the growing problems of economic hardship and negative equity homesellers?

Any agent can list a short sale.

But it is estimated by the industry analysts whose blogs and podcasts I subscribe to that only 3% of all Realtors know how to successfully close one.

Those of us who can appear to be awfully busy in my market, because according to Atlanta area housing industry reports, nearly 40% of all recent real estate sales have been Short Sales and REOs. A glance at the current listings of homes available for sale on the Georgia MLS corroborates that at least that number of the listings fall into these categories. And for the most part, the homes that do not, are overpriced for the market.

I expect more of the same in the coming year. Until the inventory of homes falls to more normal levels, analysts say, the housing slump is likely to persist. But currently, inventories are being driven higher by the massive wave of mortgage foreclosures and pre-foreclosure listings.

These "distressed" sales now are driving our local market and have driven down prices across the board. And I don't think we've seen the bottom yet. Some experts predict that prices won't bottom until they've reached the level of 2003-2004 prices. I'm no analyst, but it would not surprise me if even that is a conservative estimate based on the economic turbulence the country is experiencing now.

The sheer number of homeowners with negative equity in their homes..the ‘Underwater Homeowners' is staggering. Its predicted that by this time next year half of all real estate transactions will be either foreclosures or short sales.

Metro Atlanta sellers will continue to be challenged in 2009 as the inflated pricing of years past adjusts to levels that buyers can once again afford. With banks and builders continuing to slash prices in order to sell a backlog of foreclosures and new homes, individual sellers will have to price their homes competitively. The catch is that most sellers will likely find themselves upside-down in their mortgages, owing more than the property is currently worth on the market.

In 2009, it will be imperative that Atlanta sellers in this position realize their position and hire an agent who is extensively trained and experienced in getting their short sales closed. An agent who has the CDPE designation will fit this bill.

For more information for distressed sellers in Atlanta, go to http://AvoidGeorgiaForeclosure.com

In my last post, I introduced myself as a Change Agent, a pre-foreclosure specialist on a mission to save as many Georgians from foreclosure as I can, and a partner with our president-elect in effecting positive change in America's economy.

So how am I personally and positively affecting the economic recovery?

Well, I figure the economy won't recover before the real estate market corrects. And every time I help a seller sell before the bank takes their house, I'm helping that correction happen instead of allowing another foreclosed property to drag on the market. Foreclosures hurt the whole community and economy. Boarded up homes become a blight on the neighborhood, driving prices down, reducing the tax base and inviting crime.

To that end I've prepared myself with Alex and Cadey Charfen's systems and information, and I've postioned myself for 2009 as an agent who specializes in foreclosure prevention and short sales. Tne Certified Distressed Property Expert (CDPE) designation has equipped me for increased success with short sales. To date, there are only three agents in the state of Georgia to have earned the CDPE designation, which requires a significant investment of time and money and in-depth foreclosure prevention training.

In a short sale, the lender agrees to accept less than the entire amount due on a seller's mortgage as "payment as agreed." The lender becomes the de facto seller in the transaction, and the defaulting borrower gets to avoid the stain of foreclosure. Short sales are are a far better option for most home owners than foreclosure - repercussions are substantially less and of lesser duration. While a person with a short sale may qualify for a new FHA loan in as little as two years, a foreclosure could follow a borrower forever, particularly when applying for another mortgage.

When I'm successful in helping a homeowner avoid foreclosure with a short sale or loan modification, everybody wins. The homeowner is spared the emotional and economic trauma that comes with foreclosure and eviction. Also, it saves the lender the legal fees, processing fees and marketing costs to foreclose on a home and put it back on the market, which can amount to many thousands of dollars. And a new buyer gets a home at an affordable price and becomes part of the local property tax base.

Get an informative free e-Book on How to Avoid Foreclosure in Georgia at http://AvoidGeorgiaForeclosure.com

As always, I welcome comments, tips and suggestions from other pre-foreclosure professionals. The more information we can get into the hands of stressed homeowners, the more foreclosures we can prevent.

That's right, I'm changing my professional I.D. I'm not just a real estate agent anymore. I am a Change Agent now. I'm going to personally help our president-elect effect change for our nation by helping troubled homeowners avoid foreclosure.

You see, my love of houses is not the only thing that drew me to this profession. I got into real estate when I saw the 'bust' coming, because I knew there would be a lot of people needing a very specific kind of help. I set out from the beginning to learn how to give that help.

To that end I've become a Certified Distressed Property Expert, and not a moment too soon. Nowhere is the default and foreclosure process faster or more brutal than in the state where I practice: Georgia. As a REALTOR working in the south metro Atlanta, Georgia area, I hear many heartbreaking questions from troubled homeowners:

"My interest rate is about to adjust up, but my income hasn't kept pace with inflation. What do I do now?"

"My employer has already cut back our work week and now they've announced layoffs are likely. What if I can no longer pay my mortgage? What can I do?"

"I've got to relocate, but my house isn't worth what I owe on it. I can't pay rent there and a mortgage here. What happens when I miss my mortgage payments?"

"What if I can't keep my home?"

"What should I do? What should I not do?"

My neighbors, my community and my country are in distress due, in part, to the state of real estate. That's why I'm writing this blog series for distressed Georgia homeowners, to share with them everything I've learned about avoiding foreclosure in Georgia. Because it's time. In fact it's already too late for some of my Georgia neighbors, but I hope it will be right on time for my readers.

When people are facing the threat of foreclosure, they are embarrassed, depressed and stressed. They need someone who can help them out of a traumatizing situation. My CDPE expertise allows me to step in and handle the sale, help them compile the necessary paperwork, and work with the bank on their behalf. That aids the economic recovery in a small but very significant way.

Over the next few weeks I hope to answer many readers' foreclosure prevention questions in these blog entries. I've also put together a free e-book on the subject, which is available from a new website, http://AvoidGeorgiaForeclosure.com. I invite other Gerogia real estate, banking and law professionals to add their input and comments here. Our neighbors need all the prevention help they can get.

Here's another good reason to consider Ellenwood, Georgia real estate: Sugar Creek, a place where families can play together.

Golf and tennis enthusiasts who buy homes in Ellenwood, GA may choose from several conveniently located clubs and courses when it's time to get their game on. This weekend, my huband Vince and I visited the Sugar Creek Golf and Tennis Center in Dekalb county for a little R&R. We arrived in the early evening as the late summer day was just cooling down a bit, and were greeted by the jazzy musical strains of a local quartet who were laying down smooth sound on the clubhouse veranda. As we approached, the tennis courts were all occupied and the happy laughter of people having fun filled the air.

Now, I've never been good with a tennis racket, but I do have clubs and will travel. The 18-hole facility at Sugar Creek has been a favorite of South East Atlanta and Ellenwood residents since it was built in 1977. Tucked away on several wooded acres off Bouldercrest Road slightly south of I-285 Exit 51, the par 71 champion course features 6,200 yards of manicured greens with a course rating of 72 and a slope rating of 127. What a great way to walk off a few calories and breathe in a lot of fresh, country air.

The Staff at Sugar Creek Golf Course will assist you with tee times, reservations, planning and hosting private and corporate outings, junior golf camps, individual and group golf lessons. Among the reasons why Sugar Creek enjoys such continued popularity for those in and around Ellenwood are its many amenities, including:

• Full service practice facility including a large lighted driving range, putting green, practice bunker and grass tees.
• Full service clubhouse including: pro shop, snack bar, lockers showers, club repair, and advance tee times.
• Dynamic women's and men's golf associations.
• Annual Passes, Junior and Senior Rates
• Excellent Junior Golf Programs
• Partnerships with DeKalb County Schools, Churches and YMCA'

We won't talk about my golf score. I play for fun. My favorite game is "best ball." Suffice it to say that all levels of play are welcome at Sugar Creek. So on the way out, I picked up a brochure and invitation to join the women's golf association, where I can learn to better my game plus benefit from the clinics, discounts on range fees, apparel, individual golf lessons and various outings. They offer a men's golf association, a church league, a Junior Golf program and a Seniors Play Day. We were pleased to see several groups of young players practicing on the driving range and putting green. Now we'll have to bring our own grandsons out to hit a few balls after school. If you'd like to check out Sugar Creek Golf and Tennis Center, here's some information to help you get started:

Location: 2706 Bouldercrest Rd SE
Atlanta, GA 30316-4812

Phone: (404) 241-7671
http://www.sugarcreekgolf.net