Troy Fowler

DATE: 03/15/2010 For more information, please contact: Troy Fowler (305) 754-2888

troy@Auction-Generation.com

TROY FOWLER EARNS PRESTIGIOUS DESIGNATION TO HELP HOMEOWNERS IN DANGER OF FORECLOSURE

Troy Fowler of Auction Generation 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 that 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.

In the Miami area, many thousands of homes are in danger of foreclosing and new cases are being filed daily.. It is happening in all price ranges. Local experts say that even high-priced homes are not immune.

"This CDPE designation has been invaluable as I work with sellers and lenders on complicated short sales," said Troy Fowler. "In my opinion, it is the most the most effective method to avoid a complicated foreclosure that can have much more serious consequences."

Alex Charfen, founder of the Distressed Property Institute in Boca Raton, Fla., said that Realtors® such as Troy Fowler 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.

Approximately half of South Florida homes that sold in December did so at a loss for the seller. Statewide, close to half of all homes also sold at a loss in December.

It is becoming much more evident just how much home values have fallen in South Florida since the peak of the market. With more than 500,000 Florida homes receiving some form of foreclosure notice last year, it should come as no surprise that prices are continuing to tilt downward.

To put these numbers in perspective, nationally 28% of homes sold at a loss in the month of December. Florida's rate was nearly double that figure. It is a tough time for sellers that need to sell.

There are mixed views as to whether we have bottomed out or if more declines will be seen in the months ahead.

As a seller, you may qualify to sell your property as a short sale. It is not for everyone, but if you are in financial difficulty and your expenses exceed your income, a short sale may be an excellent alternative to walking away from your property and letting it foreclose. Short sales can be tedious, but they are becoming easier to work through.

It may very well be well worth the time and effort now to look at the short sale option while you have time to sell than wait until the lender is in the midst of foreclosing. Even if you are in the foreclosure proceed, many lenders will hold off on a foreclosure if they know you are actively working to short sale your property.

As a Short Sale Specialist who is CDPE certified (less than 25000 realtors nationwide) to handle short sales, we can assist you in all aspects of the sale of your home(at no cost to you) as a short sale allowing you to eliminate many of the negative consequences of a foreclosure.

As foreclosures begin to rise in the luxury home market, an increasing percentage of these properties are being sold at auction.

In 2009, close to 19000 homes with values exceeding $ 1 million were in some stage of foreclosure. This represents a 160% increase from 2008.

At the same time, prices of homes in the luxury market on average have decreased approximately 25%. Values of luxury properties have taken even larger hits in specific areas of the country such as California, Florida, Nevada, Arizona and Michigan.

Many homeowners who are not candidates for short sales and want to avoid foreclosure are turning to qualified auction companies to assist in obtaining the highest value quickly as opposed to waiting months or years to sell through the traditional listing method.

Most homeowners who are on the market in this economy because they need to sell. If you are attempting to sell your property, regardless of value and are not a short sale candidate, you may want to consider the auction method.

Seeking options for dealing with the nations increasing foreclosures, industry executives are looking at alternatives that before would have never been considered.

Citigroup, for example, is now allowing delinquent borrowers who do not qualify or refuse for existing programs to remain in their homes for up to 6 months without demanding payments, before returning the keys, if they maintain the property and leave the premises in good condition.

Fannie Mae and Freddie Mac have developed programs allowing former homeowners to become renters after a foreclosure.

The Treasury Department has also jumped in offering lenders $1000.00 in exchange for allowing borrowers to sell their homes in a short sale.

Of course, all of these actions are not purely offered as a means to help the otherwise ailing homeowner.

These institutions and agencies fully understand the drastic implications if all of theses homes were to flood the market in a short period of time and the consequences it could have on the health of our economy. That being said, thankfully measures are being taken to slow the bleeding of a sick real estate economy and help it to begin the process of returning to a more balanced and viable industry for homeowners and investors alike.

It was just reported that the number of homes in the US now facing foreclosure jumped 15% in one year and that another wave of debt ridden homeowners could be adding to those numbers in the months ahead.

In 2009, approximately 2.8 million households were threatened with foreclosure. This year that number is already expected to rise up to 3.5 million according to RealtyTrac, a leading real estate services firm. Slowing the foreclosure rate is a key step in the recovery of the real estate market.

Many foreclosures can be avoided if homeowners take proactive steps to work with qualified Short Sale Specialists. As a Certified Distress Property Expert (CDPE), we work with homeowners who are facing serious challenges in maintaining payments and staying in there homes.

To learn more about Short Sales and how you may qualify to sell your home using the Short Sale method, please call me @ 305-754-2888.

Thank you!