The Rulnick Report

244 Magnolia St., Grayton Beach Florida - Home for Sale

2010-03-09T16:58:00.003-06:00

This festive Grayton Beach Florida home is the perfect retreat in the real beach town, Old Grayton in the Seagrove Beach area. Fun and eclectic, it is a happy home. Wood floors, open floor plan and interesting room layout make it a great place to live full time, hang out on vacation, use as a second home or a rental investment. Enjoy breezy beach and dune views from master deck. Walk down the street to the Gulf of Mexico (One of the neighborhood attributes is no major road to cross to get to the gulf) Partake in the Grayton Beach lifestyle, including the famous Red Bar and more. Seaside and Watercolor are a bike ride away for shopping, dining, concerts and cosmopolitan lifestyle. For rental considerations, this Grayton Beach home sleeps 12 and grosses about $30,000 per year. Watch the video.Offered at $850,000.
It's Wendy
Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.
Seagrove Beach FL Real Estate
Read Wendy's Seagrove Beach Real Estate Blog
Email Wendy: itswendy@rulnickrealty.com
Wendy is a short sale and pre-foreclosure specialist and has been featured in "Kiplinger Personal Finance Magazine" and "Florida Realtor Magazine". Call Wendy Rulnick, Broker/Owner,to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County- Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field.

How Will a VA Compromise Sale Affect My Credit?

2010-03-09T16:33:00.005-06:00

If you are a service member or Veteran near Hurlburt Field or Eglin Air Force Base, you may be considering a VA Compromise sale if you have a VA loan. A compromise sale (or offer in compromise) is when the Veterans Administration approves the sale of your home when your mortgage payoff is greater than the sale price, and there is not enough to pay back your VA entitlement. You must have a hardship and need to sell.
Two questions always come up when I help with VA Compromise Sales:
1. How will a VA Compromise Sale affect my credit?
To get a direct answer, I called the Veterans Affairs Regional Office in St. Petersburg (telephone 1-888-611-5916), which covers the state of Florida. They told me VA Compromise sale is reflected as settled for less on credit reports. Settled for less is a common reporting for short sales, as well. The exact number of points that your credit will be affected depends on your complete credit picture. Remember, if you missed payments, that will also show up on your credit report.
2. Will I be able to get a VA loan again if I do a Compromise Sale?
Yes, if you pay back the entitlement that was not paid back to the VA at the sale. Specifically, the Veterans Administration says: Should VA agree to pay the difference between the sales proceeds and the total debt to complete the compromise sale process, the portion of the homeowners entitlement used to guaranty this loan will remain tied up until VA is reimbursed in full.
In fact, I am working with a Veteran now who re-paid his entitlement after a compromise sale, in order to get a VA loan again, because the rate and terms were more favorable. But remember, there are other types of mortgages that will be available to you, if you are unable to seek another VA loan.
If you are a service member or Veteran near Eglin AFB, Hurlburt Field, Duke Field or Whiting Field, and think you might need to do a VA Compromise Sale, short sale or use the HAP program, call me at 850-650-7883. I can help.

Its Wendy
Wendy Rulnick, Broker Rulnick Realty, Inc.
Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
itswendy@rulnickrealty.com
Read Wendy's Real Estate Blog

Call Wendy Rulnick, Broker, to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County- Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field. Wendy is a short sale and pre-foreclosure specialist and has been featured in Kiplinger Personal Finance Magazine and Florida Realtor Magazine.

HAP PCS Eglin AFB and Hurlburt Field 6 Things You Need To Know

2010-03-09T16:24:00.003-06:00

By now most Eglin Air Force Base and Hurlburt Field airmen are aware of the Homeowner Assistance Program (HAP). HAP has been expanded to help service members pay off much of their mortgage loss when PCSing to a new base and the value of their property has dropped below its mortgage balance. By using HAP the service member may avoid a short sale. There are many rumors floating around about HAP. I had the good fortune of speaking at length to the regional representative who covers the U.S. Army Corps of Engineers Savannah District. Savannah District services the military in the Eastern United States and Europe. Hopefully, the following Q and A I gleaned from our conversation will help you better understand your HAP PCS options:
1. How long will it take to get HAP benefits? Four to six months from time of application. Why so long? HAP is currently understaffed. There are over 4200 applicants in the Savannah District, around 6400 nationally. Savannah District has 55 employees, separated into 5 teams, each lead by a Realty Specialist. They are processing 80-100 applications per person. Three to four people are manning the toll-free lines. Most of the applications are missing data, so about 30 reps are assigned to asking applicants to complete all the needed information.
2. How can I get the quickest approval from HAP? The Savannah regional representative made it very clear Do your part-- send in as complete a package as possible. The Savannah District processes PCS applications in order of completeness! Remember, you dont need your orders to apply. Eligibility for HAP is determined a few weeks after application. (Of course, priorities are always Wounded Warriors, Surviving Spouses) Apply as soon as you know you will be getting orders.
3. Should I be concerned about the minimum marketing time on the HAP website of 120 days? If your home sells sooner than 120 days, HAP will still consider the offer if it is close to fair market value. It is important for you to get your real estate agent to do a market analysis supporting the contract price to provide to HAP. HAP wants agent assistance. If not, they use what is called an Automated Valuation Model (AVM) that is provided by a company called Core Logic. These valuations may not be as accurate as what your agent provides, and HAP is aware of that.
4. What else should I know about the calculations to determine my HAP benefit? The HAP website leaves out some very important information about the amount of your benefit. It is based not only your original purchase price, but on capital improvements you have done with receipts to show proof. For example, if you put on a new roof, installed a water heater, built a retaining wall, etc, those are considered capital improvements. What is not a capital improvement would be fixing a broken air conditioner, etc. Reference the IRS Selling Your Home publication for a guide on what a valid improvement is, HAP uses the same.
5. Will HAP pay more than the 90% reimbursement stated on their website? In reality, HAP will consider reimbursing up to 95%, per the regional rep I spoke with.
6. Will HAP pay more than 7% of the contract price towards closing costs, including your real estate agent commission? In reality, HAP will reimburse 10% towards closing costs. As the HAP regional rep stated, they want service members to be competitive in the market place, so if it helps to pay a bit toward buyer’s costs, they will do so. Currently under review is a national policy on exactly what costs HAP will cover. For example, they will not pay a buyer’s homeowner insurance, but might consider paying points.
This is a recap of just part of my discussion with the HAP regional rep. If you are a service member at Eglin AFB, Hurlburt Field, Whiting Field or Duke Field, and are considering HAP or a short sale for your next PCS move, give me a call or email me at itswendy@rulnickrealty.com. I will be happy to fill you in on the rest of the scoop.
It's Wendy
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.
Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
Search All Eglin AFB area Real Estate
Eglin AFB and Hurlburt Field Short Sales and Pre Foreclosure Help.
Read Eglin AFB Short Sale and Real Estate Blog
Email Wendy to sell your home or buy a home: itswendy@rulnickrealty.com
Call Wendy Rulnick, Broker, to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County- Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field. Wendy is a short sale and pre-foreclosure specialist and has been featured in Kiplinger Personal Finance Magazine and Florida Realtor Magazine.

Lot 10A Grey Heron Dr., Sea Pines Lot, Milton Florida 32570

2010-03-09T16:12:00.001-06:00

Very nice building lot at the entrance to Sea Pines on Garcon Point, Milton Florida. Public boat launch and boardwalk area located at the end of Grey Heron Dr. Sewer is availble. Homeowners' amenities include beach and pavilion and gazebo. Great for commutes to Hurlburt Field. Short drive to the Gulf of Mexico Beaches, access to Pensacola Airport. Lot dimensions approximately 108 x 200.Offered at $39,900

It's Wendy
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.
Navarre FL Real Estate
Navarre Short Sales and Pre Foreclosure Help.
Read Wendy's Navarre Real Estate Blog
Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
Email Wendy: itswendy@rulnickrealty.com
Wendy is a short sale and pre-foreclosure specialist and has been featured in "Kiplinger Personal Finance Magazine" and "Florida Realtor Magazine". Call Wendy Rulnick, Broker/Owner,to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County- Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field.

642 Sailboat Dr., Niceville Florida - Lancaster Estates - Deep Waterfront Home

2010-03-08T16:42:00.005-06:00

DO YOU HAVE A WISH LIST? Look no further, 642 Sailboat Drive is a beautiful deep waterfront home on Rocky Bayou, in Niceville Florida in Lancaster Estates. if you wish for a boat dock and slip with a lift in deep water, great outdoor spaces with a screened pool and patio area for entertaining, this is the one. Walk through an Etched Glass double door entry to a large foyer overlooking the sunken living room with detail from top to bottom. The double treyed ceiling with crown molding and soft lights to start then a remote controlled gas burning fireplace is surrounded by wall to wall windows overlooking the pool and bayou.

This Niceville waterfront home has a gourmet kitchen with top of the line commercial appliances, DCS 8 section vent hood, 6 burner stove top with a grill, sub zero refrigerator-freezer, double ovens, warmer drawer, wine cooler, double dishwasher, trash compactor, did I mention the island, custom cabinets and granite countertops?

Need a gym? The Master has its very own exercise room and sound bearer walls between the Master and Living areas. The Master bath also has vaulted ceilings, a sunken jetted tub, a separate shower, back to back vanities and a dressing table, you will be pleasantly surprised by the size of his and hers closets.

Outdoors you will find a 4 burner grill and fish cooker and plenty of protected entertaining space with the screened patio, gunite pool and hot tub area. The property has a privacy fence on each side with lush landscaping, take a stroll down the stairs constructed of brick and concrete to the boat dock with lift for approximately a 10,000 pound boat. This Niceville home is on deep water and and in the safe harbor area of Rocky Bayou.

This 5699 (appr) square foot home is offered for sale at $1,500,000.00

Contact Rulnick Realty for more information.
Local 850-650-7883
Toll Free 1-877-487-9639

Rulnick Realty serves the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County- Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field.
email itswendy@rulnickrealty.com

Can I Put That Destin Condo on Layaway?

2010-03-03T11:03:00.006-06:00

I have been negotiating a short sale offer for a Destin Florida condo for about a week. Today I received the following email from the buyer's agent: "Here is my buyer's final offer for the condo. "

Purchase Price - $150,000

$50,000 at closing, $50,000 in 12 months and the other $50,000 in 24 months.

Seller to pay all closing costs

Seller to pay 6 months of condo dues

He would like an answer by 2pm on Monday."Enough said.

It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.
Destin FL Real Estate
Destin Short Sales & Pre Foreclosure Help.
Read Wendy's Destin Real Estate Blog
Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
Email Wendy: itswendy@rulnickrealty.com
Wendy is a short sale and pre-foreclosure specialist and has been featured in "Kiplinger Personal Finance Magazine" and "Florida Realtor Magazine". Call Wendy Rulnick, Broker/Owner,to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County- Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field.

916 Don Bishop Rd., Santa Rosa Beach Florida - Home for Sale

2010-02-19T16:54:00.002-06:00

You've found your playground in paradise in Santa Rosa Beach Florida at this great property at 916 Don Bishop Road!
Contemporary, unique home on one acre lot! Your eyes will light up when you see the setting- on a lovely lake. Splash around in your inground pool. Sit out on cool nights in the huge screened porch or the finished Florida room. The private guest house with its own screened porch and bathroom is a fun retreat for family or teens or you! The owner, a builder, has done wonderful remodeling.
This Santa Rosa Beach home is set behind a black wrought-iron fence away from the road. The kitchen has granite counters. The living room is cathedralled with a wall of windows. Exterior vinyl recently painted. The roof is only two years old with 30-year dimensional shingles. The central air conditioning is new.
There is a shop/shed to left for tools, garden equipment or hobby shop.The public beach is about ten minutes away, and shopping abounds at the Village of Baytowne Wharf, Grand Boulevard, Seaside or Destin Commons. The only thing missing is you!
Offered at $239,900.
It's Wendy!Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.Search All Destin Florida Real Estate Destin Short Sales & Pre Foreclosure Help.Read Destin Real Estate BlogCall toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204Email Wendy to sell your home or buy a home: itswendy@rulnickrealty.comCall Wendy Rulnick, Destin short sale agent, to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County- Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field. Wendy is a short sale and pre-foreclosure specialist and has been featured in Kiplinger Personal Finance Magazine and Florida Realtor Magazine

That House Is STILL For Sale?

2010-02-15T11:37:00.002-06:00

Yesterday I went for my morning walk, on a route not travelled for two years in my neighborhood of Crystal Beach in Destin Florida. As I approached the end of a side street, low and behold- that HOUSE was still for sale!! No way! I did a double take, saw there was yet another real estate sign in the yard. What was this- the fourth Realtor? When I went home, out of curiosity, I checked the listing history of the house. It has been for sale since 2005. That's right- over four years.

What is going on here? Why hasn't this house sold?
Here is a list of possible reasons:
1. The street is busy- it is overpriced for the location.
2. The home is jammed on a little lot- it is overpriced for the lot size.
3. The home is overbuilt for the neighborhood- it is overpriced compared to the others.
4. The price was reduced too slowly- behind the rest of the market. Hmmm… still overpriced.
5. The sellers and all 4 agents think it is worth too much- it is overpriced.
6. No one is buying- yes they are, but they are buying at the right price!The bottom line is always the price. You can hire the most brilliant real estate agent in the world, you can have the best-kept home in the neighborhood, you can have the most sought after location in town, you can have more advertising than every other home for sale. But no matter what you do for marketing, no matter what agent you hire, no matter what you think your home is worth- it is not going to sell if it's not priced right.
It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.
Search All Destin Florida Real Estate
Destin Short Sales & Pre Foreclosure Help.
Read Destin Real Estate Blog
Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
Email Wendy to sell your home or buy a home: itswendy@rulnickrealty.com
Call Wendy Rulnick, Destin short sale agent, to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County- Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field. Wendy is a short sale and pre-foreclosure specialist and has been featured in Kiplinger Personal Finance Magazine and Florida Realtor Magazine.

Lot 5 Capri Cove, Bluewater Bay Short Sale, Niceville, Florida

2010-02-12T16:23:00.001-06:00

Have you always wanted to live in Bluewater Bay, Niceville, Florida? Imagine your new home on this wooded half-acre lot on cul-de-sac. The Bluewater Bay short sale lot is within walking distance to Bay, marina, tennis and pool! Golf available, too! Niceville is only a ten minute drive across the Mid-Bay Bridge directly to Destin Beaches, Destin Commons and more. Buy this beautiful Lido Village lot now for your future Bluewater Bay home, or we can have a new home built for you!
Offered at $104,900.
It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.
Niceville FL Real Estate
Niceville Short Sales & Pre Foreclosure Help.
Read Wendy's Real Estate Blog
Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
Email Wendy: itswendy@rulnickrealty.com
Wendy is a short sale and pre-foreclosure specialist and has been featured in "Kiplinger Personal Finance Magazine" and "Florida Realtor Magazine". Call Wendy Rulnick, Broker/Owner,to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County- Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field.
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Lot 17, Wren Way, Magnolia Forest, Niceville Florida - Bluewater Bay Short Sale

2010-02-12T15:39:00.001-06:00

Beautiful homesite in Bluewater Bay's Magnolia Forest subdivision, Niceville, Florida. Bluewater Bay has a fantastic tennis center with twelve clay courts, and a professional stadium court. If you are a boater, sail or power, Bluewater Bay Marina is right down the street, on the shore of Choctawhatchee Bay. Live here and open yourself up to the world of golf, tennis, swimming, nature and more. Niceville is only a ten minute drive across the Mid-Bay Bridge directly to Destin Beaches, Destin Commons and more. Buy this beautiful lot now for your future Bluewater Bay home, or we can have a new home built for you!
Offered at $99,800.
It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.
Niceville Real Estate
Niceville Short Sales & Pre Foreclosure Help.
Read Wendy's Real Estate Blog
Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
Email Wendy: itswendy@rulnickrealty.com
Wendy is a short sale and pre-foreclosure specialist and has been featured in "Kiplinger Personal Finance Magazine" and "Florida Realtor Magazine". Call Wendy Rulnick, Broker/Owner,to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County- Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field.
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Luau Condo #6108, Sandestin Florida - Short Sale

2010-02-12T12:21:00.003-06:00

Owning this stylish Luau condo will open you to the world of Sandestin! This Sandestin short sale condo is an efficiency unit. Just drop your keys and go out and play! Amenitis include a great pool, covered parking. Nearby shopping at the Village of Baytowne Wharf. Enjoy beach, bay. Join tennis, beach club, golf, marina, gym! This Luau short sale condo is located on the south side of Sandestin Resort.
Offered at $119,000.
It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.
Destin FL Real Estate
Destin Short Sales & Pre Foreclosure Help.
Read Wendy's Destin Real Estate Blog
Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
Email Wendy: itswendy@rulnickrealty.com
Wendy is a short sale and pre-foreclosure specialist and has been featured in "Kiplinger Personal Finance Magazine" and "Florida Realtor Magazine". Call Wendy Rulnick, Broker/Owner,to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County- Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field.
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Are Short Sale Lenders More Lenient the Second Time Around?

2010-02-12T11:35:00.003-06:00

It was almost a year ago that Bank of America approved a short sale on one of my Destin Florida condo listings. The sale price at the time was $260,000. The sellers owed $410,000 on the unit. Bank of America approved the short sale requiring the sellers do a cash contribution of $16,000 towards the loss at closing. Why? Because the sellers were paying two other mortgages on time and they had jobs and regular income.

Unfortunately, the property did not close. The buyer defaulted after approval because he wanted to buy another condo.
Six months later I found a new buyer. The Destin condo market had declined further, so the sale price was much lower. Five months later still, I got the short sale approved by Bank of America. Although little has changed with the seller's circumstances, the investors on this loan were much more lenient the second time around.
Property: Destin Florida condo
Ownership type: Investment
Sale Price: $211,000 (one year ago- approved price was $260,000)
Mortgage Balance: $410,000
Cash from seller: -0- (one year ago- $16,000 cash contribution was required)
Promissory note from seller: -0-
Needless to say, the sellers are delighted. The question remains, though, why were the investors more lenient with short sale approval terms the second time around? Not only did they accept $50,000 less – they required no cash contribution from the seller. This may mean investors are loosening up their approval guidelines in general, cutting their losses and moving forward. It may be good news for homeowners in trouble who are considering a short sale.
It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.
Destin FL Real Estate
Destin Short Sales & Pre Foreclosure Help.
Read Wendy's Destin Real Estate Blog
Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
Email Wendy: itswendy@rulnickrealty.com
Wendy is a short sale and pre-foreclosure specialist and has been featured in "Kiplinger Personal Finance Magazine" and "Florida Realtor Magazine". Call Wendy Rulnick, Broker/Owner,to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County- Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field.
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Report: Short Sales and Your Credit Score

2010-01-29T13:44:00.004-06:00

Curious what will happen to your credit score after a short sale?
The answer is... it depends. How many mortgage payments did you miss? How much debt do you have? What is your outstanding balance to available credit ratio? What is your overall payment history? Your "point" impact will be calculated by FICO based on these and several other criteria. Here is an actual example of how a short sale affected my Destin short sale seller's credit score.
Property: Destin short sale condo - investment property (not owner occupied)
Lender: Aurora Loan Services
Number of Missed Mortgage Payments: 23
Short Sale Reporting: "Settled for Less Than Full Amount"
Previous Credit Score: 745
"During Short Sale" Credit Score: 646
Credit Score 30 Days After Short Sale: 732 687 and 679 (from the three credit bureaus, Equifax, Transunion and Experian)
My Destin short sale seller was amazed that his credit score seemed to shoot right up after his short sale was complete. This is not always the case. The bottom line is - you won't know how your score will change until you complete your short sale. But don't be dismayed, you CAN start to rebuild your credit immediately. And don't be suprised if your financial future is brighter than you think.
It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.
Destin FL Real Estate
Destin Short Sales & Pre Foreclosure Help.
http://www.shortsalesuperstars.com/ for agents
Read Wendy's Destin Real Estate Blog
Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
Email Wendy: itswendy@rulnickrealty.com
Wendy is a short sale and pre-foreclosure specialist and has been featured in "Kiplinger Personal Finance Magazine" and "Florida Realtor Magazine". Call Wendy Rulnick, Broker/Owner,to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County- Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field.
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If you and your short sale sellers are having problems with Bank of America and Equator (formerly Reotrans), you are not alone. My team and I have be

2010-01-29T13:36:00.002-06:00

If you and your short sale sellers are having problems with Bank of America and Equator (formerly Reotrans), you are not alone. My team and I have been "experimenting" with the new short sale upload system since we've been forced to start using it two weeks ago. Not only does the short sale agent have to use Equator, so does the short sale seller. The idiosyncrasies of the software can be intimidating-- even to a savvy internet user.
Passwords don't work, information is wiped out, and files are rejected for reason code: OTHER.
Today a Destin short sale seller came into my office for help entering his financial information. We had already uploaded his last two years tax returns, last two months bank statements and last two paystubs by separate pdf. After entering his information and filling out thirty plus data fields, his information was WIPED out three times by Equator. WHY? He hit the back-button! But did we give up? No way! After a while, through trial and error, we found some tips to help you along your Bank of America-Equator journey.
Remember to have your seller log onto bankofamerica.com/shortsale (no www). He should already have his password, after registering at 1-866-677-2516 and having one emailed to him.
There are NO DETAILED INSTRUCTIONS, but these hints will help you to success:
The system does not accept commas in all numeric fields. It will kick out entries with commas in the lower section of the seller financial fields, those underneath the income section. (Some may find it difficult, for example, typing 100000.00 and keeping track of the correct number, but that is what it wants.)
The seller can only "Save for Later" if they fill out a complete section on the screen, from the BLUE to BLUE (HELP to HELP) area of the form. Otherwise, the info will be WIPED OUT!
When totalling numeric fields (like expenses, for example), click OUTSIDE the data entry field to the right of the "total" at the bottom of the column. Don't try to add up the fields. This will add them up for you. ( I know it makes no sense).
Finally, if you want CHAT HELP, there is no button. or link on the screen.. I knew there was a CHAT, so I called the Equator Tech Line 310-469-9167. (Expect to be on hold for thirty minutes to three hours). After finally getting through, and being put on hold for twenty minutes, they came up with this to find CHAT:
Click on the HELP button at the top of the screen. In the "Search" field, type in the word "CHAT", then an icon will appear. I am sure you would have figured that out on your own, right?
That's all for today. For more Equator hints, check back here and on the Short Sale Superstars Equator group. Until then, happy typing!
It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.
Destin FL Real Estate
Destin Short Sales & Pre Foreclosure Help.
Read Wendy's Destin Real Estate Blog
For Agents: http://www.shortsalesuperstars.com/
Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
Email Wendy: itswendy@rulnickrealty.com
Wendy is a short sale and pre-foreclosure specialist and has been featured in "Kiplinger Personal Finance Magazine" and "Florida Realtor Magazine". Call Wendy Rulnick, Broker/Owner,to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County- Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field.
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Eglin AFB and Hurlburt Field PCS - HAP Helps You Avoid Foreclosure

2010-01-29T12:34:00.003-06:00

Are you an Eglin AFB or Hurlburt Field airman PCSing soon? If you own a home, have to sell, and owe more than your property is worth, there may be help available so you can avoid a foreclosure or even a short sale. The U.S. military Homeowner Assistance Program (HAP) may help you by covering most of the loss to your mortgage holder.
These are the basic qualifications for HAP:
1. You must be PCSing more than 50 miles2. You purchased your home or entered into a contract to buy it before July 1, 20063. It was your primary residence (not a rental)4. Your orders were between February 1, 2006 and September 30, 2012.5. Your home must have declined at least 10% in value. (That should not be in problem in the Eglin AFB and Hurlburt Field market). HAP may cover 90% of your loss from your original purchase price, with you bringing the difference to closing when you sell your homel If you apply for HAP and are moving from Eglin AFB, Hurlburt Field, Duke Field or Whiting Field, here is part of an email you may receive from the HAP Savannah District:
" We cannot estimate or pay benefits until you have provided all requested information, are determined eligible, and have sold your home or have it under contract. You are encouraged to send in the information we request since we cannot determine your eligibility without it.The government acquisition option for... applicants involves the government purchasing your home and selling it immediately to your buyer in a subsequent transaction. This option is for those who cannot afford to close without it. You are advised to make every effort to sell your property at the highest reasonable price under current real estate market conditions.
Please note we will require a fully signed HUD-1 Settlement Statement from when you bought your home. Please send this document for inclusion in your file.If you listed major improvements in your application, you must provide receipts for these items if you would like them to be considered. Current guidance is that the Prior Fair Market Value is the purchase price, but it is anticipated that there may be an adjustment for improvements in the final guidance. Improvements and receipts must be in accordance with the guidelines established in IRS publications 552 & 527 (http://www.irs.gov/)."
The great news about this HAP guideline, is that your monetary assistance may be based on your cost plus improvements, not just your initial purchase price. This means, HAP may cover more of the loss to your mortgage holders - so YOU will have to bring less funds to closing to cover the difference.
If you plan on selling your home for a PCS from Eglin or Hurlburt in Navarre, Destin, Fort Walton Beach, Niceville, Crestview or Mary Esther, Florida, contact a real estate agent who specializes in the HAP program. Don't let your home go to foreclosure!
It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.
Eglin AFB and Hurlburt Field Real Estate
Short Sales & Pre Foreclosure Help.
Read Wendy's Emerald Coast Real Estate Blog
Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
Email Wendy: itswendy@rulnickrealty.com
Wendy is a short sale and pre-foreclosure specialist and has been featured in "Kiplinger Personal Finance Magazine" and "Florida Realtor Magazine". Call Wendy Rulnick, Broker/Owner,to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County- Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field.
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How To Improve Your Credit Score After Short Sale or Foreclosure

2010-01-26T13:02:00.001-06:00

Are you one of the many Americans recently affected by financial woes? Have you missed payments, racked up your charge card, gone through a short sale, foreclosure or bankruptcy? As a result, your credit score has probably dropped, maybe substantially. If so, there is a great resource that may help you rebuild your credit.
MyFico.Com is a website recommended by my favorite financial guru, Suze Orman. MyFico will allow you to monitor your score and will send you email alerts whenever your score might be affected, for example:
1. You increase your balance on your charge cards (higher overall debt)
2. You apply for a car loan or other installment debt (credit inquiries)
3. You get the car loan (higher debt)
4. You pay late
5. Your credit card company lowers your limit (balance to available credit ratio)
By monitoring your score, you will be more conscious of how you can improve it. You can even set a target score – to alert you when you reach your goal. For example, if your score is 650 and your goal is 700- you will get an alert when you reach it! The other great thing MyFico does is offer a simulator to see how your score will change if you take specific action, like pay $10,000 down on your overall credit, or pay on time for five months.
What can you do to improve your score? Pay down credit cards, pay your bills on time and don't take on new installment debt. The more consistent you are with taking those actions, the quicker your score will improve. MyFico offers a 30 day free trial. If you sign up, the fee is $9.95 a month or $99.95 per year.
To get an annual free credit report, also consider the official Federal Trade Commission site http://www.annualcreditreport.com/. You can get a report once a year from the three credit reporting bureaus, Experian, Equifax and Transunion.
Watch your score and be aware of your spending. Your credit will improve... maybe sooner than you think!
It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.
Search All Destin Florida Real Estate
Destin Short Sales & Pre Foreclosure Help.
Read Destin Real Estate Blog
http://www.shortsalesuperstars.com/ for real estate agents
Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
Email Wendy to sell your home or buy a home: itswendy@rulnickrealty.com
Call Wendy Rulnick, Destin short sale agent, to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County- Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field. Wendy is a short sale and pre-foreclosure specialist and has been featured in Kiplinger Personal Finance Magazine and Florida Realtor Magazine.
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310 Evergreen, Hurlburt Field, Mary Esther FL- Short Sale

2010-01-26T12:12:00.002-06:00

Calling Hurlburt Field and Eglin AFB! Come home to Mary Esther! This short sale house has been recently painted, with berber carpet, new ceiling fans and tile in kitchen and baths. Darling curb appeal with metal roof (about 4 years old) Central heat and air only about two years old. Bonus room with some heat and cooling not included in square footage- 280 square feet. Roomy fenced yard. This Mary Esther Florida short sale home is a quick commute to either Hurlburt or Eglin. Ten minutes to the beach, Okaloosa Island, Santa Rosa Mall and more.
Offered at $123,000.
It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.
Eglin AFB and Hurlburt Field Real Estate
Emerald Coast Short Sales & Pre Foreclosure Help.
Read Wendy's Short Sale Blog
Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
Email Wendy: itswendy@rulnickrealty.com
Wendy is a short sale and pre-foreclosure specialist and has been featured in "Kiplinger Personal Finance Magazine" and "Florida Realtor Magazine". Call Wendy Rulnick, Broker/Owner,to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County- Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field.
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4495 Ocean View, Crystal Shores, Destin Florida Short Sale

2010-01-19T15:55:00.001-06:00

The "Bimini House" in Crystal Shores, Destin Florida says "Come on in and have some fun!" with its cheerful tangerine exterior and plethora of porches. This Destin short sale home will make you smile at the happy colors and breezy decor. First floor features wood floors, open dining room, high ceilings and fireplace. The kitchen is a country delight with pass-through, eat-in space, transom windows and overlooking the heated pool. Second floor master bedroom is large and luxurious with private wrap balcony and its own fireplace! Third floor has wrap balcony with access from two more bedrooms and peak of gulf view. The carriage house has two bedrooms, kitchen and rec room. The main house is 3331 square feet and the carriage house about 500 square feet, per seller. There are a total of 6 bedrooms and 5.5 bathrooms. Crystal Shores is a two minute walk to the Gulf of Mexio beach and near numerous shops, Destin Commons and more!
Destin short sale offered at $489,000.
It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.
Destin FL Real Estate
Destin Short Sales & Pre Foreclosure Help.
Read Wendy's Destin Real Estate Blog
Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
Email Wendy: itswendy@rulnickrealty.com
Wendy is a short sale and pre-foreclosure specialist and has been featured in "Kiplinger Personal Finance Magazine" and "Florida Realtor Magazine". Call Wendy Rulnick, Broker/Owner,to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County- Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field.
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Bank of America Approves Destin Short Sale: Boldly Ask and You May Receive

2010-01-18T16:36:00.001-06:00

Bank of America Approves Destin Short Sale Condo: Pays Past Dues
Sometimes you get lucky!
Subject Property: Destin short sale condo on the harbor
Short Sale Lender: Bank of America
Mortgage Balance: $1,200,000.00
Sale Price: $490,000.00 appr
Seller Cash Contribution: -0-
Seller Promissory Note: -0-
Past Due Association Fees Paid by Bank of America: $25,235.67

Notes: I wrote a previous post about short sale condos and association dues becoming the “Next Generation of Junior Liens” because so many homeowners cannot afford to pay them. As this down real estate economy progresses, more and more owners will become delinquent on their condo or association dues. The past-due balances will build to incredible amounts, just like the one I have outlined. The short sales submitted for approval will have greatly reduced payoffs to the mortgage holders when adding in the obligation to pay these dues.
In Florida, if the short sale lender does not agree to pay these costs, there is an argument for the condo association to accept less. Florida statutes only require a payment to the condo association of the past six months in arrears if the unit is foreclosed, twelve months if it is a homeowners association. (This is a tip for negotiating Florida short sales.)
In my lucky Destin short sale, we boldly asked for all the past condo dues to be paid- a whopping $25,000! Bank of America did not blink. (Rather, the secondary market investor on the loan did not blink.) Deal approved. Give it a try.
It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.
Destin FL Real Estate
Destin Short Sales & Pre Foreclosure Help.
Read Wendy's Destin Real Estate Blog
http://www.shortsalesuperstars.com/ for agents who want to Learn, Know and Grow.
Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
Email Wendy: itswendy@rulnickrealty.com
Wendy is a short sale and pre-foreclosure specialist and has been featured in "Kiplinger Personal Finance Magazine" and "Florida Realtor Magazine". Call Wendy Rulnick, Broker/Owner,to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County- Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field.

Bank of America & Equator: Are We Guinea Pigs on a Treadmill?

2010-01-14T10:58:00.007-06:00

If you haven't heard recently, Bank of America short sales are getting even… well, weirder. Their new plan is to implement an online system where real estate agents and borrowers can upload their own short sale information. It sounds great-- and it would be--if it worked. OK, you might have heard one or two success stories, but I can tell you from practical experience, until this system is refined your Bank of America short sales might take… longer!
The new system is called Equator, formally REOTrans. It is really a jerry-rigged uploading site that is also used for foreclosure (REO) offers to Bank of America. Here is my experience with it so far.
Day 1: I fax in my package to Bank of America for a new Destin short sale
Day 7: I call in to confirm the fax was received, as it takes Bank of America several days to recognize new faxes. No, and they cannot find my loan number. There is no such loan number! Huh? I call my seller. She says the loan number was changed in the past week.
Day 10: After faxing in a new authorization, I call Bank of America (BOFA) back with the new loan number. They said they changed the loan number because this file is going to their new online system, Equator. They instruct me to upload my short sale package online. My seller must also call in to get her own special password to use the system and upload her own financial documents.
Day 11: My seller calls BOFA during the day from work. She is on hold over one hour and transferred twice. During her hold time, she emails me "Still on hold, but they 'look forward to talking' with me soon". After she completes her call she tells me "I cannot believe this is what you deal with all day". She forwards me her password so I may upload all her documents for her. This means, all the tax returns, bank statements, financial worksheet, paystubs, etc. Each document must be scanned into our computer system as a separate file so we can upload them when asked.
Day 12: We try to access Equator with my seller's password. Login fails. No luck.
Day 13: We log in under my agent id. Here we upload our authorization and answer questions about the offer. Non-invasive questions like,"What is the buyer’s birth date? What are the first five digits of the buyer’s social security?"
FINALLY, we get to the offer amount. Let's use $160,000 as an example. OFFER REJECTED -insufficient. HUH? The last sale in this Destin condo complex was $150,000. So, why is our $160,000 offer insufficient? Who can I talk to?The machine? I call Bank of America and they repeat, the system says "insufficient", didn't I get a rejection email? "From generic.negotiator@bankofamerica.com I told them. Well, that is who you should email, I am told by the BOFA rep. "You are kidding, I am to email the "generic" negotiator?" The rep says, "Yes, that email is checked by different negotiators all day". OK, who am I to question the authority of Bank of America? I email generic.negotiator@bankofamerica.com (like an idiot) and of course the email address is invalid.

Day 14: Today. Plan B. I'll let you know how it goes. And I wish you better luck with Equator.

It's Wendy!

Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.

Destin FL Real Estate

Destin Short Sales & Pre Foreclosure Help.

Read Wendy's Destin Real Estate Blog

http://www.shortsalesuperstars.com/ for agents

Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204

Email Wendy: itswendy@rulnickrealty.com

Wendy is a short sale and pre-foreclosure specialist and has been featured in "Kiplinger Personal Finance Magazine" and "Florida Realtor Magazine". Call Wendy Rulnick, Broker/Owner,to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County- Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field.

I Need a Broker Price Opinion- This is a Comparative Market Analysis!

2010-01-13T10:16:00.004-06:00

I recently got a Mary Esther Florida short sale approved by HSBC, who always provide interesting twists to their short sales. Here is the story:
Property: Owner occupied home in Mary Esther Florida

Market Value: $130,000

Senior Lien: Wells Fargo - VA loan - $190,000

Junior Lien: HSBC - $40,000

Getting the VA compromise sale approved by Wells Fargo was the easy part of this short sale. Getting approval from HSBC, the junior lien, was a different story. HSBC had farmed out its collection efforts to a company called Professional Recovery Services. After months of waiting for a response on short sale approval, PRS finally claimed that HSBC would not allow a short sale because the borrower had filed for bankruptcy a few years ago. I was asked to provide documentation that the HSBC lien was not included in the bankruptcy. I did, but PRS said HSBC still refused to look at the short sale, claiming "a bankruptcy is a bankruptcy".
Undeterred, I contacted HSBC directly, emailing several representatives until I was directed to a negotiator in the bankruptcy department. Apparently, I had contacted the right person, as he said he would help with the short sale approval. First, though, he needed me to provide a Broker Price Opinion of the property's value. I used my Multiple Listing Service to do a detailed market analysis and faxed in the form. The HSBC negotiator, although polite enough in scripted English, had a problem with my document.
"This is not a Broker Price Opinion" he said, "It says Comparative Market Analysis".
"It's the same thing. A comparative market analysis is the same thing as a BPO", I told him incredulously, "What do you want me to do, re-label it?"
PAUSE
"It looks like a CMA. I need a Broker Price Opinion done by a Broker” He choked out.
"I am a Broker. Fine, I will re-label the form with 'BPO' and fax it back to you."
"Thank you, it has been my pleasure speaking with you", he read from his script.
I re-entered my data onto another form, labeled it 'Broker Price Opinion',and faxed it back to HSBC. The next day I called in.
"You are approved. It has been my pleasure working with you",

It's Wendy!

Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.

Destin FL Real Estate

Destin Short Sales & Pre Foreclosure Help.

Read Wendy's Destin Real Estate Blog

http://www.shortsalesuperstars.com/ for agents

Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204

Email Wendy: itswendy@rulnickrealty.com

359 Clubhouse Drive, Windswept Estates, Freeport Florida - Short Sale

2010-01-13T10:03:00.002-06:00

Gorgeous Windswept Estates short sale home in Freeport Florida set on golf course. Unique architectural touches, curved designs, archways, dramatic foyer and entrance highlighted with columns. Huge kitchen with extra long counterspace with more cabinets above for plenty of storage, banquet area. Wood laminate floors, high ceilings, corner angled fireplace. Formal dining room with French doors. Spacious screened porch accessible by living room and master bedroom. This golf course home has a great view of the 3rd hole and green. Windswept Dunes golf course is on 700 acres, and is noted as the longest course in the Florida! Windswept amenities include: clubhouse with a pool, tennis courts, volleyball area, and a playground. Added feature: electronic pet fence!

This Windswept estates short sale home is offered at $197,900

It's Wendy!

Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.

Destin FL Real Estate

Destin Short Sales & Pre Foreclosure Help.

Read Wendy's Destin Real Estate Blog

Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204

Email Wendy: itswendy@rulnickrealty.com

Wendy is a short sale and pre-foreclosure specialist and has been featured in "Kiplinger Personal Finance Magazine" and "Florida Realtor Magazine". Call Wendy Rulnick, Broker/Owner,to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County- Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field.

Beachside II 4291, Sandestin Florida - Short Sale Condo

2010-01-13T09:51:00.002-06:00

Beautiful Sandestin short sale condo located on the 9th floor of Beachside II at Sandestin Beach and Golf Club directly on the Gulf of Mexico. The kitchen has granite countertops, recessed lighting and breakfast bar. The master bedroom provides an exquisite view overlooking the gulf. The master bath has a garden tub and a walkin closet. The convenience of the stacked washer and dryer gives you more time to enjoy the beach or relax on the balcony. Sandestin is filled with fun, and you can venture to restaurants, shopping, Baytowne Wharf, Destin Commons and more - all a short distance from this Sandestin short sale condo.

Offered at $529,900

It's Wendy!

Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.

Destin FL Real Estate

Destin Short Sales & Pre Foreclosure Help.

Read Wendy's Destin Real Estate Blog

Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204

Email Wendy: itswendy@rulnickrealty.com
Wendy is a short sale and pre-foreclosure specialist and has been featured in "Kiplinger Personal Finance Magazine" and "Florida Realtor Magazine". Call Wendy Rulnick, Broker/Owner,to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County- Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field.

Santa Rosa Beach Short Sale Approval: Priceless

2010-01-06T14:12:00.001-06:00

This Santa Rosa Beach Florida short sale set the Bank of America record for me. Document after document was requested, faxed and emailed. Phone call after phone call was made. The file was closed and re-opened many times. The buyers threatened to walk time and again. This short sale was on the edge of collapse throughout much of the approval the process, but in the end, success!
First Mortgage: Bank of America, balance $1,300,000
Second Mortgage: Regions, balance $100,000
Sale Price: $850,000 appr
Bank of America Approval Terms: $40,000 promissory note, $30,000 cash contribution
Regions Approval Terms: $15,000 cash contribution
Number of Bank of America negotiators: 5
Number of Regions negotiators: 2
Number of Times Bank of America erroneously closed file: 3
Number of Emails sent: 298
Number of Phone call made: 114
Number of Months for Approval: 8
Seller Relief at Closing: Priceless
It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.
Destin Real Estate
Destin Short Sales & Pre Foreclosure Help.
http://www.shortsalesuperstars.com/ for agents
Read Destin Short Sale Blog
Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
Email Wendy: itswendy@rulnickrealty.com
Wendy is a short sale and pre-foreclosure specialist and can help you sell or buy a short sale property in and around Destin Florida and the Emerald Coast. Wendy has been interviewed by Kiplinger Personal Finance Magazine and Business Week magazine, and has appeared in Florida Realtor Magazine .Call Wendy Rulnick, to list and sell your property on the Emerald Coast of Florida in Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field. *Figures may be modified slightly to protect data confidentiality.

Worst Short Sale Lenders of the Year Awards

2010-01-06T13:18:00.002-06:00

Each year I give out awards for the worst short sale lenders I have dealt with in the last twelve months. Congratulations to our 2009 winners!

1. PHH - Now Waiting 9 Months for Approval and Counting PHH Mortgage has had a VA Compromise Offer since February 2009 for a Niceville Florida short sale. They were so lame as to do a VA appraisal back in July, then let that expire after six months because they were so slow, and had to order a new one. The sale is still is not approved.
2. USAA will Wait for Short Sale Seller to Die to Go After Probate This Niceville short sale story had a happy ending, but not until after USAA commented they would get their money even if they had to wait for the elderly owner to pass away to get the estate.
3. Saxon Mortgage - Reduces Realtor fee if short sale does not close by approval deadline- for whatever reason- by a full percentage.
4. Green Tree Servicing - Current on Your Mortgage? Short Sale Denied! This short sale servicer denied a Fort Walton Beach short sale because he was current with his payments. They said they would take the "hit" if the seller would take the "hit on his credit". The homeowner drained his entire savings to make payments after spouse was in a serious auto collision.
5. Finally, who else but BANK OF AMERICA, would makes the list - four times over!
Bank of America Approves Short Sale, But Won't Finance Approved Amount Here we find a lender who underappraises a Destin short sale condo for the buyer's mortgage, but on the short sale end- refuses to accept its own appraisal and closes the file! Head spinning yet?
Bank of America - Two Strikes and Buyer Walks As aforementioned transaction goes into round two- Bank of America flubs short sale demands by illiterate negotiator, and refuses to correct error. Short sale denied.
Bank of America Now Wants Your Retirement Account Bank of America is ever so bold now, not even your retirement savings is sacred.
Bank of America - Deficiency Threat Sends Shockwaves The now-infamous Bank of America approval letter has probably caused many a frightened homeowner to pass on a short sale.
Now, that was my list of the TOP worst short sale lenders for 2009, who were yours?
It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.

Destin FL Real Estate

Destin Short Sales & Pre Foreclosure Help.

Read Wendy's Destin Real Estate Blog

http://www.shortsalesuperstars.com/ for Realtors- join us!

Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204

Email Wendy: itswendy@rulnickrealty.com