Alexi T. Mavrellis Earns Prestigous Designation To Help Homeowners In Danger of Foreclosure
July 2nd, 2009 categories: Real Estate News, Short Sales
At Guardian Realty & Investment Group, LLC we deal with many homeowners who are in financial duress and many times they are facing foreclosure. With the drastic drop in property values in the Phoenix area, many times a short sale is the best solution since we can not sell the home for what the homeowners owes on that property. The short sale is usually a better alternative than foreclosure for the homeowner. Click here for more information on short sales.
As the Designated Broker for Guardian Realty & Investment Group, LLC, I am very pleased to announce that Alexi T. Mavrellis, a Realtor our brokerage, has earned the prestigous 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.
“This CDPE designation has been invaluable as I work with sellers and lenders on complicated short sales,” says Mavrellis. “It is so rewarding to be able to help sellers save their homes from foreclosure.”
Alex Charfen, founder of the Distressed Property Institute in Boca Roton, Florida said that Realtors such as Alexi with the CDPE designation have valuable training in short sales that can offer the homeowner Read the rest of this entry »
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Why We Must Continue To Present Short Sales To the Banks
August 22nd, 2008 categories: Short Sales
As a real estate broker I have been representing sellers on short sales for a year now. The experience I have gained during this year has been unmeasurable. It has been very satisfying to prevent a foreclosure for a seller and it has also been frustrating when the bank just won’t approve a quality offer. Through this experience I have put together a team that makes me feel very confident about continuing to work with sellers on short sales as I feel it is very important for real estate market recovery in the Phoenix Metro area.
One reason I feel like they are important to get approved is that our inventory levels are never going to drop if we keep “recycling” listings. Here is an example of what I am talking about. Many sellers who need to sell start by listing their home at an unreasonable price that will cover their mortgages, real estate commissions and title fees. Once it becomes obvious that the home will not sell at that price, it becomes a short sale listing. If the seller receives an offer, then it can continue on the market for 3 months while the bank reviews. If the bank does not approve the offer or if the buyer walks, then the property goes to auction where it most likely will not be bid on as the opening bid is to high. Approximately 14-30 days later, this property is re-listed AGAIN as a bank owned property (REO). From this example, you can see that one listing can be on the market multiple times over the course of a year! This is causing our real estate inventory to be skewed in my opinion. Read the rest of this entry »
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I Am Facing Foreclosure – Should I Bother With Trying To Do A Short Sale?
June 25th, 2008 categories: Short Sales
Given the market conditions in the Phoenix Metro area, buyers, sellers and real estate agents are beginning to develop some opinions about short sales. There is also many buyers, seller and agents who are misinformed and are spreading facts that are simply untrue. As a seller, it is hard to separate fact from fiction.
One of the most common untruths I hear is that a short sale will only drop a credit score 100-150 points while a foreclosure will drop a credit score 200-250 points. The fact is that there is no grading scale for anything in a FICO score. Read the rest of this entry »
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Is A Short Sale A Good Buyer Opportunity?
May 17th, 2008 categories: Featured Properties, Short Sales
The topic of foreclosures and short sales in a hot one in Phoenix and around the country. The short definition of a short sale is when a seller owes more on their mortgage than what their property is worth.
If that seller must sell, then offers can be presented to the lender than owns the mortgage to see if the lender will accept less than what is owed to satisfy the mortgage.
Unfortunately most lenders will not even look at a short sale (short pay) offer unless the seller is in default of their mortgage. Sellers are faced with either getting a short sale approved or going to foreclosure. Do these situations present good buyer opportunities? The answer is yes, but it takes patience. Read the rest of this entry »
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