Prudential Sun pros tabbed as distressed home specialists
A half-dozen agents at Prudential Carolina Sun Real Estate have earned the sought-after Certified Distressed Property Expert designation.
The professionals are Sean Leighton, Ken Skidmore, Justin Lawson, Patrick Mahaney, Courtney Delfino and Mark Schwarb.
They completed extensive training in foreclosure avoidance, with a particular emphasis on short sales, according to Prudential Carolina Sun, based in Mount Pleasant.
Many homeowners nationwide are struggling with the possibility of foreclosure. The agents have amassed the skills and education to help Charleston-area residents and communities, the brokerage notes.
Short sales allow the distressed homeowner to repay the mortgage at the price that the home sells for, even if it is lower than what is owed on the property. According to Prudential Carolina Sun, the technique can save people from foreclosure and even bankruptcy, and more lenders are willing to consider short sales because they are less costly than foreclosures.
Today, more than 13 percent of homeowners are behind on their mortgage or in the foreclosure process.
?The CDPE designation has been invaluable as we work with homeowners and lenders on complicated short sales,? Leighton says. ?It is so rewarding to be able to help families save their homes from foreclosure.?
For more information about short sales and foreclosure prevention, visit www.prusun.com.
Schwarb, among others, has earned designations in addition to the distressed property certification. He is also a Loss Mitigation Specialist. He can be reached via email at Mark@charlestonfinehomes.com.
Carolina One closes FrontDoor deal
One of Charleston?s leading new-home partners has agreed to assist Georgia-based FrontDoor Communities with sales at a local neighborhood.
Provided
Carolina One New Homes will represent the Atlanta builder in its Tributary at Rivertowne new-home development in Mount Pleasant.
Located off S.C. Highway 41, the village will feature 62 single-family homes, with prices starting in the $300,000s, according to Carolina One New Homes.
?FrontDoor Communities builds homes that focus on the way people want to live today,? says Will Jenkinson, Carolina One New Homes? broker-in-charge.
?Emphasis is placed on thoughtful design and energy efficiency,? he says.
This is the fourth disclosed project by FrontDoor Communities in the Charleston area. The company is involved with home building efforts at Patriots Point and the Cottages at Charleston Harbor, both in Mount Pleasant. Also, the builder says it plans to develop 45 acres along the Cooper River in Mount Pleasant to be called Bridgeside. The multipurpose property will feature office space, hotels and residences.
According to Carolina One?s new homes group, FrontDoor is a semi-custom regional homebuilding company with a team of veteran professionals that all told have built more than 25,000 homes.
FrontDoor homes are built to the National Association of Homebuilders National Green Building Standards. They are sustainable as well as livable, the sales and marketing partner says.
Carolina One New Homes represents nearly 40 new-homes communities in metro Charleston.
For more information contact Jenkinson at 843-202-2023 or wjenkinson@carolinaone.com.
Group's pres-elect from Charleston gives home inspection tips
With wet weather looming, the opportune period for a home look-see is about three weeks or so from now.
That?s according to the American Society of Home Inspectors. April is National Home Inspection Month, and homeowners are encouraged to identify potential troubles now before they become major repairs.
?April is the perfect time for a spring maintenance inspection,? says Bill Jacques, president?elect of the American Society of Home Inspectors and president of Charleston-based American Inspection Service Inc.
?When it comes to water intrusion, it?s not often a matter of ?if? but ?when? moisture will take its toll,? he says. Moisture intrusion is a leading cause of home maintenance issues and repairs, says the society, which goes by the acronym ASHI.
Jacques recommends a spring maintenance checklist, which includes:
? Examining the roof to identify curling, shrinking or broken or missing shingles that may lead to costly leaks.
? Looking over the perimeter of the home for signs of settling and for voids that will allow rain to enter through the home?s foundation.
? Inspecting the air condition units thoroughly.
?While we don?t recommend that homeowners conduct inspections themselves due to safety precautions, there are several areas of the home that homeowners should pay close attention to,? he says.
Jacques encourages homeowners to visually inspect hose bibs (the threaded end of the outside water tap or faucet where a hose can be attached) for signs of frost damage; pipes for separated joints or splits; window and door screens for tears and holes; gutters for broken or loose pieces; and surfaces for cracking or peeling paint and caulking.
The president-elect also offered a list of seven questions that homeowners should ask before selecting an inspector. They include:
Are you a member of the American Society of Home Inspectors? According to ASHI, working with a certified inspector ?is a homebuyer?s best assurance of an inspector?s qualifications and professionalism.?
What does the inspection cover? Make sure it meets the customer?s needs and complies with the ASHI Standards of Practice.
How long have you been a home inspector and how many inspections have you completed? ASHI Certified Inspectors are required to have completed at least 250 paid professional home inspections and pass two written exams that test their knowledge.
Are you specifically experienced in residential inspection? Related experience is helpful but is no substitute for training and expertise in home inspection.
Do you encourage your clients to attend inspections? This is a valuable educational opportunity; Buying a home is probably the most expensive purchase people will make.
How long will the inspection take? The average for a single inspector is two to three hours for a typical house; anything less may not be enough time to do a thorough inspection.
Will you prepare a written report? Asking to see sample report forms ensures the customer will be comfortable with the finished report.
For more information, including a copy of the ASHI Standards of Practice, visit www.ASHI.org or call 800-743-2744.
Refinance program aimed at helping distressed borrowers
More than a few homeowners are up to date on their mortgage payments but their house value is less than what they owe.
That can result in a predicament. They typically aren?t allowed to refinance their loan to a lower interest rate and may wind up facing financial troubles in the future.
Now relief may be on the way thanks to a tweaked federal program, says Michelle Whitbeck in her Lowcountry Real Estate update.
On March 17, the government is releasing a revised Home Affordable Refinance Program, otherwise known as HARP 2.0, she says.
To be eligible, homeowners must be current on their mortgage and able to afford the new payments at the lower interest rate. Government-endorsed entities Fannie Mae or Freddie Mac must own the mortgages.
For people whose loans aren?t held by Freddie Mac or Fannie Mae, there?s not a lot of options, she admits. But she offers a couple.
?Talk to your bank about a loan modification; however, these are difficult to obtain. You can also speak with an experienced Realtor about selling your house as a short sale,? says Whitbeck, who notes that she is experienced at such sales where the bank agrees to accept less than all the money it?s owed.
The one thing to avoid is having your house taken over by the lender. ?Foreclosure,? she says, ?is the last option anyone should ever consider.?
Local new-home lender joins Shelter Mortgage?s builder unit
A Maryland native with more than a decade?s background in generating home loans has signed on with a Midwestern-based lender.
Provided
Shelter Mortgage LLC has named Tricia McCarthy senior loan officer. She works out of the mortgage company?s Carolina Builder Division. Shelter Mortgage, which has an office at 1321 Ashley River Road, is a subsidiary of Guaranty Bank, Federal Savings Bank of Milwaukee, Wis.
The division offers a complete line of mortgage products, including purchase mortgages, refinancing options, S.C. State Housing loans and U.S. Department of Agriculture loans. It specializes in new construction and builder deals.
McCarthy has 13 years? experience in finance and mortgage lending. She is knowledgeable about underwriting guidelines and knows how to structure a transaction so it makes the most sense for the borrower, according to Shelter.
While born in Maryland, she calls Charleston home. For further information, contact McCarthy at 843-297-7455 or tricia.mccarthy@gbmail.com.
Source: http://www.postandcourier.com/news/2012/mar/10/realnews/
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