Can I Put That Destin Condo on Layaway?

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.

That House Is STILL For Sale?

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.

St. Martin Beachwalk Villas #221, Destin Florida Condo for Sale

This Destin condo in St. Martin Beachwalk Villas is centrally located on the beach side of highway 98, you can walk to Big Kahuna's Water Park, Mellow Mushroom Pizza, the grocery or convenience store if needed. A short board walk takes you to Sugar Sand Beaches and Emerald Waters of the Gulf of Mexico. This Destin condo will make a great vacation rental or a place to call home with 3 bedrooms, 2 baths and a split floor plan. The living area and master bedroom open to the balcony overlooking the community pool and a peek of Gulf Views from the Balcony and south windows of the unit. St Martin Beachwalk is a quaint Beach Community for a vacation or your home. It is also located 10 minutes from Destin Commons, Henderson Beach, and golf galore!
Offered at $199,900.

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

Rulnick Realty - Welcome the Holidays- Pot Luck Lunch- Open House

Welcome the Holidays!

Join us at Rulnick Realty Destin Florida

Wednesday, November 11, 12:00 noon

Open House, Pot-Luck Luncheon!

So far on the menu, we have ham, turkey, rolls, wine, beer, soda, turnips, carrots, broccoli casserole, bread pudding, green bean casserole, sweets, pie, pasta salad, sweet potatoes and more...

To our buyers, sellers, Emerald Coast Realtor friends, Facebook friends, vendors, business neighbors at Miramar Plaza and ALL OUR FRIENDS!

Bring a dish and join us for some merriment!

Address: 12889 Emerald Coast Pkwy. Ste 107-A, Destin, Florida 32550
We are 2.5 miles east of Destin Commons and the Mid-Bay Bridge, on the south side of Highway 98 in the Miramar Plaza.

Telephone 850-650-7883

We look forward to seeing you!

Wendy Rulnick, "It's Wendy!", Broker, Rulnick Realty, Inc.

Rulnick Realty Welcomes New Team Members to Destin Real Estate Office

Clark Turnipseed, a licensed Realtor, provides a unique perspective for buyers, having years of experience as a Mortgage Broker Associate. Once he finds his buyers the right property he knows how to structure an offer that best fits their financial goals.
Clark was educated as a civil engineer but is a people person by experience. His personal motto is "When people work together they can move mountains!" With over 20 years in management and sales, he understands what it means to provide service, attention to detail and follow up. He can assist with helping buyers find their dream home, condo or investment opportunity all along the Emerald Coast.

Brittany McCormick serves as Office Manager of Rulnick Realty. Brittany is originally from Tennessee and has an extensive real estate administration background. She ensures the smooth operation of the office and provides great customer service to our buyers and sellers. When not at work, Brittany enjoys spending time with her family on the beaches of the Emerald Coast and reading great books. Her slogan is "Knowledge is power".

Rulnick Realty helps buyers and sellers of Destin real estate and all surrounding towns, including Sandestin, Santa Rosa Beach, Niceville, Fort Walton Beach, Navarre, Crestview and vicinity. Located in the Miramar Plaza in Destin on Highway 98, the office is central to the Emerald Coast of Florida and Walton, Okaloosa and Santa Rosa County.Call Rulnick Realty at 850-650-7883 or toll free 1-877-487-9639.

Wendy Rulnick, Broker, invites you to email itswendy@rulnickrealty.com or call if you are interested in joining a team of top real estate professionals.

Another Destin Short Sale Approved- Laurel Grove

This beautiful Destin home was just approved for a short sale. It is in the Laurel Grove subdvision in Sandestin Florida.

Lienholder: Wells Fargo

Mortgage Balance: $560,000

Sale Price: $399,000

Approval Time: 90 Days

If you need to sell your home as a short sale in Destin or Sandestin, Florida, it is best to contact an experienced short sale agent.

It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.
Destin FL Real Estate
Destin adn Sandestin 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 real estate agent, to list and sell your home or condo 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. 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. She has been featured in Kiplinger Personal Finance Magazine and Florida Realtor Magazine.

Rulnick Realty Welcomes New Destin Real Estate Agent

Rulnick Realty is pleased to welcome its newest team member! Pittman R. Watson, a licensed Florida Realtor, moved to the Emerald Coast in 2004 from Mississippi. Pittman will be helping buyers and sellers along the Emerald Coast in Destin, Santa Rosa Beach, Niceville, Navarre, Fort Walton Beach, Crestview and vicinity.

Pittman is a hard working "people person" that never meets a stranger. He is an active church member of St. Andrews Episcopal where he teaches Sunday School and serves on several committees. "He has helped people find the right meal, the right art work and the right frame. Now he is helping people find the right property."

Office: 850-650-7883 X 203 Cell phone: 850-687-0330

Rulnick Realty is located at 12889 Emerald Coast Parkway, Suite 107-A, Destin Florida, just 2.5 miles east of Destin Commons on Highway 98.

15 Minutes With A New Real Estate Agent

My first talk with a new agent covers basic tenets of sales...

1. You don't "sell" people. You help them see what they want. The best definition of salesmanship I ever learned was from the original trainer, Tom Hopkins. He said "Salesmanship is crystallizing someone's thinking." You help them buy what THEY want.

2. "You talk to men differently than you talk to women, right?" WRONG. Each person is an individual. He or she may be analytical, emotional, social, etc. Relate to people in a way that is important to them. You're not going to talk about R-values and 2x4's if they care about pool parties.

Don't just show a woman where the laundry room is. I had a salesman do that to me, and I decided right then I wasn't buying.

3. When showing homes, don't talk the whole time. In fact, don't talk much. I remember the first time I was shown properties by two different agents. One talked the entire time, extolling the virtues of the home. I could not even think to know if I liked the property. The other agent was quiet and watchful. What a difference.

4. With a couple, pay attention to both partners. The one with the least words may have the most power.

5. Don't tell buyers or sellers what to do or pay. They decide what to do. You can show them facts and give them your "opinion", but that's all.

6. Qualify what you say. You don't have to know everything, either, that's ok.

7. Not every objection must be answered. Small objections are good buying signs, and they might be legitimate. "Yes, the door is in an awkward place."

8. Don't give legal advice. You are not a lawyer.

9. Document everything. Save your emails and notes. Relay and obtain important information in writing.

10. Listen. Learn.


It's Wendy!

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

Destin FL Real Estate

36 Calypso Cay, Destiny By The Sea, Destin Florida

The home, the setting, the location. This home at 36 Calypso Cay is the epitomy of "Destin Florida". This inviting Destiny By The Sea villa is designed for entertaining. Huge open kitchen with breakfast bar big enough for Thanksgiving gatherings. Wonderful space for dining, lounging and relaxing in the great room with fireplace. Wrap around porch offers excellent views of pool space with opulent greenery. Master suite is on its own floor with private balcony. First floor has a family room with wetbar which is used as fourth bedroom. Spanish lace walls, bull-nose corners, high ceilings, transom and bow windows.

Your new Destin home is just two minutes to the water. This gated subdivision has no main roads to cross to enjoy the beach and the boardwalk. Destiny By The Sea has three heated pools, two hot tubs, tennis courts, fitness center, children's playground and a private beach on the Gulf of Mexico. As a rental this home can accomodate 12-17 guests. Move to Destin Florida to the place you've always dreamed of.
Offered at $977,000.

Suntrust Approves Destin Short Sale in Ariel Dunes

This Ariel Dunes condo, in Destin Florida, has been approved for a short sale.

Lender: Suntrust

Mortgage Balance: appr $380,000

Contract Price: appr $225,000

Terms: Fannie Mae asked seller for promissory note for $8000 to pay past due HOA fees for $100 month for 80 months. Seller instead offered $6000 cash contribution. Fannie Mae agreed.

To avoid foreclosure and sell your Ariel Dunes or any Destin condo as a short sale, contact an experienced real estate agent who specializes in short sales.

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 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 Niceville real estate: itswendy@rulnickrealty.com

221 Kono Way, Villages of Crystal Beach, Destin Florida - Short Sale

Lovely four bedroom. three bath short sale home in the Villages of Crystal Beach. Located in Destin Florida, this is a 3 minute walk to the beach at the Gulf of Mexico. Also, three minutes to Destin Commons, Rave Cinema! Villages of Crystal Beach has a pool and spa, waterfalls and fanciful landscaping. Sold luxuriously furnished and rental ready! The short sale lender says approval will be within days, not months, pre-approved seller.
Offered at $417,900

217 Kono Way, Villages of Crystal Beach, Destin FL - Short Sale

Come see this elegant short sale home in the Villages of Crystal Beach. Located in Destin, Florida, this new community has luxurious pool, grounds, landscaping. Just a few minute walk to Destin beaches, Destin Commons, Rave Cinema. Four bedrooms, three full baths and fully furnished. Short sale subject to seller's mortgage holder's approval. Offered at $419,700.

209 Bent Arrow Dr., Indian Oaks - Destin Florida Short Sale

This central Destin home in the Indian Oaks subdivision is a show-off! Bright, clean and surprisingly spacious! Living room with fireplace and cathedral ceiling. White kitchen with tile floors and pass-through. Oversized master bedroom. Fenced back yard with patio. Bent Arrow and Indian Oaks are three minutes from Destin Harbor, Harborwalk Village, the luckiest fishing in the world, the Gulf of Mexico and Crab Island. What more could you want? Short sale subject to seller's mortgage holder's approval. Offered at $127,900.

Westwinds- Sandestin Short Sale Approved

This 9th floor unit in the gulf-front Westwinds condo in gated Sandestin was just approved for short sale. Soothing jewel-like colors. Granite breakfast bar, inlaid tile backsplash, recessed lighting. Plush furnishings. Tile flooring. Gorgeous sights of beach, grounds, pool. Westwinds is on the south side of Hwy 98, with gulf-front amenities, restaurants, work-out facilities and shopping.

Sandestin in well-know for its Gulf of Mexico and Choctawhatchee Bay setting, Village of Baytowne Wharf and extravagant landscaping. Just five minutes away are more Destin Florida attractions- Grande Boulevard, Destin Commons and of course, Gulf of Mexico Beaches.Listed at $589,000, Bank of America has accepted over $300,000 loss. The short sale approval took 90 days.

It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.

Destin FL 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
Wendy Rulnick is Broker/Owner of Rulnick Realty in Destin, FL. Wendy is a short sale specialist, and has been featured in Kiplinger Personal Finance Magazine and Florida Realtor Magazine.

Proposed Changes to Florida Real Estate Contract: How Will It Affect Buyers and Sellers?

The Florida Association of Realtors uses two different versions of the purchase and sale agreement. One is called " FAR (Florida Association of Realtors)" the other "FAR BAR" (Florida Bar Association). In different parts of the state, real estate agent communities have their own customs as to which version they use. In my Destin FL area, for example, the FAR contract is more common. But a few towns over, in Pensacola, the FAR BAR is prevalent. Now the Florida Association of Realtors is proposing to combine both contracts and make further changes. The decision whether to proceed with the new contract will be made on August 23, during the FAR Annual Convention & Trade Expo. I have reviewed the 21 proposed changes and sent my comments in to my board at the Emerald Coast Association of Realtors. You should do the same, as your input is requested. Here are my thoughts:

· Paragraph 1. d. I find it odd that check boxes include "shed" unusual to remove that anyway), but don't include "Window Coverings". If the contract is taking the stance on questioning items that typically stay, like a shed, it should do the same with window coverings for the sake of consistency

· 125% escrow for repairs not completed – implies that buyer MUST close if repairs are not done by seller. As a buyer, I would be leery to close – what if the air conditioner did not work? Close anyway? Wait six months for the seller to repair? It might never be repaired, as the money sits in escrow. Forcing a buyer to accept that term is far too much micro-management of a contract between buyer and seller. I would line it out if I were representing a buyer. This should be removed from the contract. Ditto to RISK of LOSS paragraph

· If seller has a title policy, he shall provide a copy to buyer and closing agent within 5 days. Most sellers have one, but can they find it? Most cannot find all their paperwork, so the seller would be in default of the contract if he couldn’t find it. It would be "nice" if they provided it, but to stipulate it in the contract is excessive and not realistic. Remove this requirement.

· If seller has a survey, to provide to title agent within 5 days. I suppose that could cause issues if a seller has one, but cannot find it. VERY typical… Thus buyer could claim seller is in default… if they don’t comply. This should be removed.

· Define "financial failure" of lender… New proposal states buyer can cancel contract if he cannot close to due financial failure of his lender. I can see a situation where funds didn’t make it to closing on time, so hypothetically, the lender failed financially. This needs to be more clear. Lender "out-of-business" or something more specific should be used here. Another example, a bank was taken over or merged. That might also fit the definition of "financial failure"- but in essence, the closing could still be funded. That might be used as an excuse for a buyer not to close.

· Closing to occur on or BEFORE closing date as mutually agreed. This comes up again and again.

· Remove same county closing restriction. We often have closings one county away. It should state, "unless otherwise agreed between buyer and seller."

5 Steps to Get Your Short Sale Buyer to "Walk"

Today I was talking with a title agent in my Destin Florida market who handles short sale negotiations for agents. He lamented that he had two contracts recently fall apart, with buyers walking.
"Why?" I asked.
"Well, the agents don’t have the seller sign the contract, so it is just an offer. There is nothing to hold them."
"Stop doing that!" I told him, "I would never send an offer in to a short sale lender."
Which brings me to my point-- "How can you increase the chances of your buyer 'walking' from a short sale?" Just follow these tips:

1. Don’t have the seller sign the contract. Then it is not a contract, just an offer, and the buyer can bail without repercussion.

2. Never ask for an earnest money deposit. Why ask the buyer to put anything on the line to show his investment in the contract? Then he can walk free, usually, with nothing to "lose".

3. Use a 60 day closing and 30 day short sale approval time line. Sure, that will be enough time to get a typical short sale approved- Not! Oh well, if the time frame passes after hours and days of work invested, and the buyer doesn’t "stay", you can always start all over on a new transaction.

4. Write in the contract that the buyer can "Withdraw at any time". That should simplify things.

5. Finally, let the contract be submitted to the lender with others, just like an auction , because the short sale lender will abide by contract provisions and honor the "primary" offer first, right? That tactic will make your buyer stick like glue.

Follow these tips, and you'll be sure to decrease your chances of closing on a short sale. Or, get a buyer with realistic expectations, a good deposit, one strong offer, and an "executed" contract, and be on your way to a successful short sale closing.

It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.

Why Short Sale Lenders Want Promissory Notes

Why would a short sale lender ask for a promissory note or cash contribution from the seller? The emails below, from Bank of America negotiators, will show you exactly why:

EXAMPLE 1: Santa Rosa Beach Florida Short Sale
"Please be advised, that before we discuss the closing costs you have to talk to the sellers regarding contribution to mitigate the loss.
The reasons:
* FICO in the high 700, never late on any account, continue to make payments on all credit cards
* good deposits
* good income on tax returns
Requested contribution: Promissory note of 12,000, payable in 8 years, 125 per month, 0 interest."

EXAMPLE 2: Destin Florida Short Sale
"Seller is currently paying off a car at 453.00 per month and several credit cards paid on time, Seller is getting deposits of 3000 and 2500 every other weeks on her bank accounts. I'm sure she can afford 333.33 per month.
The note is 0% interest for 5 years at 333.33 per month. There is no way we are releasing the liens debts over 684K without the seller contribution."

Both of these examples show how financial information is scrutinized by the short sale lender. Apparently, good credit, few delinquencies and regular income make the seller a candidate for contributing to the shortfall. In other cases, the lender, servicer, or mortgage insurance company may request a contribution due to its loss amount or policy. It is best to prepare your seller in advance.

It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.
Search Destin 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 real estate agent, to list and sell your home or condo or on the Emerald Coast of Florida: 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

Welcome Debbie Gremillion!

We are excited to introduce our newest Rulnick Realty team member



Debbie Gremillion, Realtor®

Debbie is a Florida Licensed Sales Associate since 2005 and has worked with residential properties from Pensacola to Destin, serving all of Escambia, Santa Rosa, Okaloosa and Walton Counties.
Prior to that Debbie worked as a Title Agent (Real Estate Closer) for over 12 yrs throughout the state of Florida, as well as 15 years in Banking experience.
She comes to us with great knowledge of military family transfers, as a spouse of retired military. Stop in to say "Hello, Debbie!"

Office: 850-650-7883 ext. 205
Cell: 850-292-6657
E-mail: debbie.gremillion@rulnickrealty.com

2431 Bungalo Lane, Sandestin FL - Short Sale

Adorable Bungalo home in gated Sandestin, tile floors, upgrades, porch. Close to amenity-filled Baytowne Wharf shopping, dining. Fish, pools, tennis, play, job, lifestyle. This home is 1596 square feet, built in 2005. It has three bedrooms and three and a half baths. Destin Florida location has some of the best beaches in the world! This is a pre-Foreclosure Short Sale subject to seller's mortgage holders' approval. Offered at $317,900.

It's Wendy!

67 Tranquility Lane, Destin FL - Destiny East - Short Sale

Reminiscent of an Italian Villa, this luxurious Destin Florida home has expansive porches on three levels, high ceilings and travertine tile. Exterior find ivy-draped walls and pavered drive that greet with a refined air. Private yard with gas grill, outdoor shower, detached two car garage set to rear. Interior is opulent, with columns, fireplace, enormous kitchen, first floor office/den. Each level has its own sitting room and porches. Rinnai hot water heater, central vacuum system. Great views of the lake, walk across the street directly to the Gulf of Mexico. Destiny East has two tennis courts, work-out facilities, pool, playground and IMAX theater! Great location near Destin Commons, Fresh Market, shopping, restaurants! Short Sale. Offered at $599,000.

Contact Wendy Rulnick, Broker

850-650-7883 ext 204

itswendy@rulnickrealty.com

371 Maravilla Drive, Destin FL

371 Maravilla Dr., Destin Florida - Walk to Beach

Elegant appeal makes this beach home, called "Banana Wind" stand out! Convenient to pool, tennis and a short stroll to Gulf of Mexico waters. This Destin home has a very open floorplan, kitchen opens to living room, tile floors, high ceilings. Fun beach house decor. Second floor has generous front porch. Huge master with private balcony, two closets. Third bedroom with whirlpool bath, separate shower and huge walk-in closet. Additional bedroom on third floor, great hang-out room, two private balconies! Maravilla has a private, deeded beach, offers clubhouse, weight room, and hot tub. Short Sale.
Offered at $549,000

New Spirit of Cooperation Among Agents - But Will It Last?

Remember the "old" days of selling real estate? When competitors didn't talk? When agents put themselves on pedestals? When they bragged about listings and sales? Or thought they had a "niche" no one could touch? Those days are over. The market has changed. Many real estate agents have been knocked down a peg or two, or left the business. In the "old" days, some agents wouldn't deign to show listings under certain price ranges, like under $300,000 or $200,000. Or they just limited themselves to certain towns- they wouldn't drive 25 minutes to show "regular" properties.

Now, no one is "too good". Everyone in this new economy has been affected by the down real estate market, job losses, home devaluations. And, I must say, they are a lot nicer for it. There is a new camaraderie, a humbling. In my last year of selling real estate on the Emerald Coast of Florida, I have made many new friends. We talk, share and discuss the market. We help get each other's listings sold. I don't mean from my office at Rulnick Realty, I mean from other COMPANIES in Destin and throughout the Panhandle. I regularly have conversations with other brokers about short sales, our multiple listing system, market statistics and ethics. I field phone calls from agents with questions about their own short sales- ones I have nothing to do with. In fact, many agents have referred short sale listings to me, or even their own properties for sale.

Yesterday, I closed on a listing referral I received from Mark A. DeSalvo of Newman-Dailey Resort Properties in Destin FL. He emailed me: "Great job! And you got the full asking price. You are the best." Mark's office is one street over from mine, and he sent a short sale listing to me.

Just this week, I sent a referral to Jimmie Greer, of Destin Beach Realty, for someone who was looking for a resort rental in Destin. I also received an email from an agent at Re/Max Paradise Properties in Destin asking for advice on her short sale. I listed a referral from Marno Wilson of JW Watts Properties for a Fort Walton Beach condo. I contacted Jayme Nabors, a commercial broker with NBI Properties, to send him a Niceville Florida business listing referral of one of my own sellers (no fee asked). That was just this week. This story has been repeated dozens of times in the past year.

There really is enough business to go around, as I wrote in How I Helped My Competition - On Purpose. On the Emerald Coast alone, there are over 13,000 listings for sale. I just hope this attitude of kindness and sharing can continue after the market normalizes.

Although we are competitors, as Mark DeSalvo said to me:
"All us agents should be working toward the same goal of making the customer happy. It's a fun business when we have co-operation. It's what makes the world go around."

It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.

Destin Condos - Sales Report

Is there a trend starting for the Destin Florida condo market?

1. There were 34 condo sales in Destin for April 2009. This figure is down from March, but there is no definite trend. Monthly sales volume decreaseed, as well.
2. The average Destin condo list price is $420,397. This is down from $711,000 one year ago!
3. The average Destin condo sold price was $375,739. This is down from $639,000 one year ago! But the sale price is up from January and February, and less the the March average.
4. The price per square foot is down to $260, down from $346 one year ago.
5. The median sold price for Destin condos is $297,500, the same as March.
6. The percent sold to list price is about 89%, fairly stable over the past year.
7. There are 1977 condos for sale in Destin, a slighty lower inventory level than one year ago, but not showing a strong downward trend.
8. There is a 58-month inventory of condos for sale. That means, it would take almost five years to sell all the condos on the market at the current rate of sales. A "normal" market is 6-7 months inventory.

The bottom line is that no clear trend is emerging in the Destin Florida condo market. If you analyze the chart, some of the indicators have bounced around during the last few months. One of the major problems affecting Destin condos is the severe Fannie Mae guidelines for Florida. Condos with delinquency rates for homeowner assocation dues over 15% will be denied funding. Condos cannot have daily check-ins, so called "condotels". All projects must be approved by Fannie Mae, which can delay sales a month or more. Buyers must have 20-25% down. And on and on. The guidelines are shrinking the pool of buyers, and will no doubt have a continued negative affect on sales and prices, outside the normal market decline we have been experiencing.

Fore more information, email me at itswendy@rulnickrealty.com

It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.
Destin FL Real Estate

Destin FL Home Needs Work

"Unique - Like YOU"

This multi-level home in Destin Florida has numerous possibilities for living!
Striking main living area with cathedral ceiing and dramatic windows. Very contemporary. Tile and laminate floors. Lower level bedroom with extra loft room above. Another lower level with family room or private bedroom with fireplace. Fenced back yard with large deck. New roof 2005. HVAC replaced 4 years ago. Propane generator. Two fireplaces! Needs attention to cosmetics, carpet and paint and priced accordingly, but "imagine"!
Great location in Destin Florida near the harbor for fishing, dining and boating!
2588 Square Feet
Offered at $184,900

Paradise Retreat Short Sale Approved

Compared to my last 5 month drama with Aurora Loan Services, this was a dream Short Sale approval!

Subject: 2047 SF Home in Paradise Retreat, Destin Florida

Mortgage: Aurora Loan Services - $400,000

Fair Market Value: $217,000

Amount Forgiven: $183,000

Timeline: 26 Days from Fax to Approval

Key to Success: Strong contract, reasonable closing costs, committed buyers, complete and thorough package

It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.

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Destin and Fort Walton Beach Short Sales & Pre Foreclosure Help.

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1369 Ravens Run, Sandestin FL Short Sale

Impressive Sandestin Florida home in Laurel Grove on the third green of the Raven golf course. Astounding ceiling heights, natural light from thoughtful and numerous windows to lend air of relaxation and enjoyment! Beautiful beadboard cabinets, black granite counters, stainless appliances. The first floor is a tremendous open space for dining, living, cooking and entertaining. Two bedrooms have separate outside doors for inviting walks and private comings and goings of guests. Second floor "master bedroom" may be used as executive home office. This Sandestin neighborhood has its own pool and clubhouse. Sandestin Florida homes are adjacent to top end shopping and beach of the Gulf of Mexico in Destin Florida.
This Sandestin short sale is offered at $399,900.

416 Spanish Moss Trail, Destin Florida - Home for Sale

Ready to jump in? This Destin Florida home has an in-ground pool! Big corner lot with lots of native trees and plants for privacy. Home has recently been painted inside. Changeable floor plan. Extra room can be office or formal living room or dining room. Split Master Bedroom has private door to pool area. Roof new 2006. Great central Destin location. 5 minutes to Destin beaches, harbor, shopping galore! Offered at $269,900

Sundestin Condo- Destin Florida - Beachfront Home

Destin Florida - time to own a Sundestin Condo! Seventh floor with awesome beach views. Direct waterfront unit! Newly decorated, new flooing, light maple cabinets with newer appliances, vanities, hardware, light fixtures, furniture, paint andmore! Rated "Gold" on the rental program. New furniture in master bedroom and new flat screen t.v. Sundestin is a great vacation resort and offer two pools, one indoor and heated, game room, gift shop, exercise room, game room, exercise room. and convention facilities. This is one of the best rental buildings in Destin Florida. Owner of this Sundestin condo will be minutes from exciting shopping at Destin Commons, Baytowne Wharf, Destin Harbor and more. Offered at $240,000.

Call our Team at Rulnick Realty for all your Destin real estate needs!

Destin Short Sale Approved - Ariel Dunes Condo

The Ariel Dunes condo project in Destin Florida has 112 units for sale. The complex is right across from Gulf of Mexico beaches and has amenities like pools, tennis and golf. Only four units have sold in the past six months. The latest was a short sale, which was approved in 90 days. Summary:

Property: Ariel Dunes gulf view condo, 732 square feet
Hardship: Medical
Lender: Suntrust
Original Purchase Date: July 2006
Original Purchase Price: $284,000
Current Sale Price: $180,000 (fair market value)
Debt Forgiven: Over $50,000

This Suntrust Destin short sale was processed by a company called Loan Care, who handle some of Suntrust's overflow in loss mitigation. The appraisal came back at $190,000 but Suntrust and its investors accepted the $180,000 offer in light of the Destin condo market, with its six year inventory. Suntrust paid a full commission of 6%. Their negotiators were professional, personable and responsive.

If you need to sell your Destin real estate as a "short sale", consult a professional real estate agent who is skilled and experienced.

It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.
Search All Destin FL 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 real estate agent, to list and sell your home or condo or help you buy a home or rental property 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 can help you sell or buy a short sale property in and around Destin Florida and the Emerald Coast.
All Rights Reserved. *Destin Short Sale Approved - Ariel Dunes Condo* Contact Wendy Rulnick regarding Destin Florida real estate and vicinity. Copyright © 2009 by Wendy Rulnick.

Destin Florida Real Estate Market Report

In the Destin Florida real estate market, there are 3105 properties for sale-- 935 single family homes, 1869 condos, 206 townhomes and 401 lots. For purposes of this report, the Destin and Sandestin markets have been combined. Sandestin is in the Miramar Beach Florida postal area of Destin, in Walton County. The Destin market sub-area is in Okaloosa County, Florida.

The average list price for Destin real estate is $373,685, a drop from $556,136 one year ago.

The average sale price for Destin properties is $327,609, down from an average sale price of $502,099 one year ago.

The median sale price for Destin real estate is $267,000, down from $344,000 one year ago.
Note the "median" statistic may be more indicative of market trend than "average", because "median" indicates that one-half of the sales were higher and one-half were lower. An "average" may be skewed higher due to some more expensive home sales that affected the resulting figure.

The report indicates 222 days average market time for Destin houses, condos and townhomes. This figure is low, and does not reflect all listing periods of a single property. It only tracks the last listing period of the sold home. If a property were listed multiple times and failed to sell during those times, that is not reflected in the figure. Many Destin homes were listed more than once until they finally sold, or "re-listed" by the same real estate agent.

The "Months Inventory" figure for Destin Florida real estate is 45 months, or almost four years. Months inventory indicates how many months it would take to sell all the improved properties in the Destin real estate market at the current rate of sales. Normal markets inventories are usually six to seven months.

The inventory of Destin homes for sale is 3105, down from a year ago at 3474.

Destin Florida has 476 short sales and foreclosures for sale, or 15% of the all properties for sale.
For additional information, contact:

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

Search All Destin Real Estate
Destin and Fort Walton Beach 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 Destin Florida home or buy a home on the Emerald Coast: itswendy@rulnickrealty.com

Call Wendy Rulnick, Destin real estate agent, to list and sell your home or condo or help you buy a home or vacation property 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 can help you sell or buy a short sale property in and around Destin Florida and the Emerald Coast.Subscribe in a reader

Destin Real Estate Buyer Defaults Buying Short Sale Condo

Why do many Destin Florida real estate buyers "walk" in the middle of a short sale? As a buyer's agent you've worked hard. You've called and emailed your buyers for months, maybe longer. You've shown them dozens of properties, perhaps even written an offer or two that didn't work out. Finally, they get a contract accepted on a short sale. After two months of waiting, they "walk"-- prior to the lender approval timeframes allowed in the contract. They DEFAULT on their contract-- without penalty. Not only have you lost a sale, the buyers have tied up the sellers, the listing agent, the buyer's agent and the lender. By tying up the lender, they clogged the short sale system for other buyers - who are willing to wait for the home they want.

I am prompted to write, because I just received a cancellation demand from a buyer for a waterfront condo in Destin Florida. The buyer's agent emailed me the request for the $3000 deposit to be returned to the buyer. The contract had allowed 30 more days for bank approval, in this case Countrywide. Through frequent communication, the buyer's agent knew written approval was imminent. When I asked why her buyer was trying to cancel, the agent said, "He is tired of waiting and doesn't trust the short sale process." I told the agent that the short sale approval had just been delivered to my email. and we actually had another 30 days to obtain approval per the contract. I told her he would probably "own the gulf-front condo within two to three weeks". She said "he did not care, he had changed his mind, and it didn't matter if the seller or I thought he was ‘loony' or a ‘nut'". And... he still wants his deposit back.
In this case, adequate dates were built into the contract. There was a $3000 deposit and the buyer had already completed his home inspection. But he simply "defaulted". He accepts no contractual obligation because of his default- he feels he is entitled to his full deposit back. The buyers stance will not change even after wasting everyone's time, and putting the sellers on the edge of foreclosure by tying up their condo.

What is the seller's recourse? In Florida, title agents often hold earnest monies. They can only release the deposit when both buyer and seller agree. In this Destin Florida case, the buyer is requesting the release of escrow funds, but the seller will never agree. Thus, the money could forever be tied up without further proceedings. It is unfortunate that many buyers can "walk" without fear of recourse, as most Florida short sale sellers have no means to pursue them.

It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.

Search Destin Real Estate
Short Sale Pre Foreclosure Help.
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Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
Email itswendy@rulnickrealty.com

Destin Real Estate - Help For Short Sales from New Homeowner Plan

The Treasury Department has just announced the incentives for lenders to accept short sales. Here is the excerpt from the updated Making Home Affordable plan that may help Destin real estate sales and Emerald Coast property owners that are in foreclosure:

Limiting the Impact of Foreclosure When Modification Doesn't Work:
Servicers will receive incentives to take alternatives to foreclosures, like short sales or taking of deeds in lieu of foreclosure. For those borrowers unable to maintain homeownership, even under the affordable terms offered, the plan will provide incentives to encourage families and servicers to avoid the costly foreclosure process and minimize the damage that foreclosure imposes on financial institutions, borrowers and communities alike. Servicers will be eligible for a payment of $500 and can make reimbursable payments up to $1000 to extinguish other liens, and borrowers are eligible for a payment of $1500 in relocation expenses in order to effectuate short sales and deeds-in-lieu of foreclosure. Such methods reduce vacancy, neighborhood decline, and overall costs for financial institutions, borrowers, and affected communities alike.

Summary and Analysis:
1. The plan may aid in disposing junior liens by a $1000 reimbursement to first mortgage holders. This may make it easier to sell Destin area short sale properties with more than one mortgage. There should be a dollar amount that is set to pay second mortage, such as $3000, with adjusted criteria for seller's financial situation. If a seller meets certain criteria, they might pay a promissory note or do a cash contribution. This would help stem rejections by junior lienholders asking for outrageous amounts to release their liens.

2. It adds a very minimal incentive of $500 to offset some of the lenders expenses for approving a short sale. Add up the 150,000 short sales currently in process at Countrywide, though, that would total $75,000,000. Not bad.

3. The borrower will receive a $1500 in relocation expenses. $1500 is an overpayment in my estimation and/or unnecessary. Many Destin short sale sellers are already out of their properties, and relocated for new employment purposes. Or the Destin properties might be investment properties. In addition, short sale sellers usually have six months to two years "notice" they are moving, and have been "saving" by not making mortgage payments for that time period. The money could be used instead as a "bonus" for short sale lender approval in a timely manner, such as 30 days. Or added to pay the second. Or paid to the Realtor. (Fannie Mae just changed guidelines to allow real estate agents to receive their pre-negotiated commission of 6% or less, instead of cutting it, which is long overdue).

The short sale process is lengthy, and depresses prices beyond the normal economic cycle. Recognizing and correcting deficiencies in the process will help stabilize the Destin real estate market.

It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.

Search All Destin Property & Emerald Coast 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 to list and sell your home or condo or help you buy a home or rental property 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 can help you sell or buy a short sale property in and around Destin Florida.
All Rights Reserved. *Destin Real Estate - Help For Short Sales from New Homeowner Plan* Contact Wendy Rulnick regarding Destin Florida real estate and vicinity. Copyright © 2009 by Wendy Rulnick.
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Holiday Isle Short Sale, Destin Florida Property for Sale

149 Durango Road, Holdiay Isle, Destin Florida
Imagine - sitting on your huge deck, watching the large boats go by on the canal to Destin Harbor. Then getting in your own boat, since it's deep water, and cruising around the corner to A.J.'s restaurant for a sunset drink. Or, perhaps cruise out to the Gulf of Mexico and catch your dinner! Grouper or red snapper, perhaps? Your new Destin property has two enormous outside decks, one upper and one lower. This is great for flowing parties. The waterfront home has three bedrooms and three full baths, and an interesting loft for extra space. This Destin townhome has no association fees like a condo! Living on Holiday Isle puts you in the middle of "real" Destin - the fishing fleets, the boardwalk, restaurants and beach life! Short sale with only one mortgage holder for speedier approval time! Some work is needed, so take advantage of the price at $324,900.

It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.

Search All Destin Property & Emerald Coast 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 to list and sell your home or condo or help you buy a home or rental property 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 can help you sell or buy a short sale property in and around Destin Florida.
All Rights Reserved. *149 Durango Rd., Destin Florida 32541 - Short Sale on Destin Harbor* Contact Wendy Rulnick regarding Destin Florida real estate and vicinity. Copyright © 2009 by Wendy Rulnick.
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Cabana Club, Destin Beachfront Condo- Approved Short Sale

Cabana Club #202, Destin Florida Waterfront Condo
PRE-APPROVED SHORT SALE PRICE $260,000

PRE-APPROVED SHORT SALE! Fun Destin condo with great gulf views, right on the water! Generous balcony to enjoy ocean breezes. 4 story complex is located in heart of Crystal Beach in Destin Florida. Location is right near Destin Commons, excellent shopping, golf courses, Sandestin, Baytowne Wharf, Grand Boulevard. Great jogs down Scenic 98 past Destiny, near Henderson Beach. Excellent walk-to restaurants- Camille's and also the new Beachwalk Cafe at the Henderson Inn. Also walk to Barnes and Noble, Starbucks Coffee, Best Buy, more! Walk right downstairs into the white sands of the Gulf of Mexico! Unit generates $30,000 year in vacation rental income as a bonus!

It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.
Search Destin Real Estate
Short Sale 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 itswendy@rulnickrealty.com

Wendy Rulnick specializes in Destin real estate and condos and the entire Emerald Coast of Florida. Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Dune Allen, Blue Mountain Beach, Crestview, Freeport, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field.

Eglin AFB Airmen Need Immediate Correction to American Recovery and Reinvestment Act

I am privileged to represent Major Jason M. Trew, a pilot with the United States Air Force, as a real estate client. Major Trew is stationed at Eglin Air Force Base. I have Major Trew's home listed for sale in Freeport Florida, because he is being required to relocate by the Air Force to a new base. Like many others in the military, his property value has declined to an amount lower than his mortgage balance. Major Trew is not a property flipper nor a speculator. He earnestly relocated to the Emerald Coast of Florida for the military, as directed by the United States government, and invested in a home for his family in March 2007. I am printing his letter to Congress, with his permission, of grave concern regarding the new American Recovery and Reinvestment Act of 2009, and its affect on our military by establishing an arbitrary cut-off date for aid to military members who purchased homes with values now below mortgage balances:

The Honorable Dave Obey
Chairman, Committee on Appropriations
Room H-218, The Capitol
Washington, D.C. 20515

Dear Mr. Chairman,

Section 1001 of the ‘‘American Recovery and Reinvestment Act of 2009'' includes a provision extending temporary homeowner assistance for members of the armed forces permanently reassigned during this mortgage crisis. However, I strongly disagree with the stipulation that the property must have been purchased before July 1, 2006.

When the Military Officers Association of America asked the Appropriations Committee staff for the rationale for that cutoff date, the committee indicated the sense that the home market decline was underway at that point, and the intent was to protect people who purchased homes before they had any warning to expect a decline.

Contrary to this assumption, the fact that home prices had decreased was an incentive to purchase a home. In fact, the National Association of Realtors launched a $40 million campaign in fall 2006 to encourage home purchases. Within the Florida real estate market, a survey released just after the July 1, 2006 cutoff date found that:

-Only 16% of homeowners listed a "fear of a price bubble"
-Only 5% said they were concerned about falling home values overall
-58% were optimistic that home values in their own community would continue to increase

In January 2007, a Florida Association of Realtors (FAR) report that indicated "the market correction has plateaued and the local real estate industry is likely on the rebound." That same month, the FAR president stated that, "now is the time to take advantage of homeownership opportunities."

After reading articles like these, we purchased a home in March 2007 because we assessed that the market's decline was near the end and we did not expect a further decrease. Obviously, we purchased at a bad time in the real estate market, just as those who purchased before July 1, 2006.

Starting last summer, we attempted to sell our home for a loss that we could personally absorb. In seven months, no one inquired about the house and a recent comparative market analysis estimated the value at $70,000 less than our mortgage balance and $120,000 less than the appraised value at the time of purchase. We are now pursuing a short sale and deed-in-lieu-of-foreclosure. Either option will significantly impact our credit for many years.
As an active duty member of the U.S. Armed Forces, the current wording of the ARRA provides us no relief as we prepare to move to our new assignment. Many other military families are in the same situation.

The 1 July 2006 date was a faulty decision that sacrificed effectiveness for the sake of simplicity and I request that you to introduce legislation that corrects this costly mistake.

Respectfully,
Jason M. Trew

4 Attachments:
1. New York Times article, "Realtors Say the Stars Are Aligned for Housing" (6 November 2006)
2. Orlando Sentinel article, "Poll: Homeowners fear storms, not lower values" (8 July 2006)
3. Bradenton Herald article, "Realtors predicting home sale uptick" (26 January 2007)
4. PR Newswire article, "Florida's Existing Housing Market: Median Price Up, Sales Down in 2006" (25 January 2007)

cc:
Senator Bill Nelson (D- FL)
Senator Mel Martinez (R- FL)
Representative Jeff Miller (R - 01)
__________________________________________________________________________________________________
Contact Wendy Rulnick, Broker
Destin Florida real estate and the Emerald Coast
Rulnick Realty, Inc.
itswendy@rulnickrealty.com
877-487-9639
850-650-7883

Agent Recommends Destin Real Estate Blog

Hi Wendy.

I wanted to say a great big "THANK YOU" for your amazing Destin real estate blogs about this crazy short sale market we've got on our hands!! I feel your pain way over here on the East Coast of Florida! I am involved with 6 short sales at the moment and sometimes I think I'm all alone in this mess. Your blogs are always SO insightful and ALWAYS full of useful information. I wish every single agent in Florida would subscribe to your blog. It is so educational and full of practical information I can share with my clients AND fellow agents. I appreciate the time and energy you put into every post. You seem to have a knack for posting information that is "needed" at that moment! I have used your information many times when trying to explain the in's and out's of a short sale. I've even told a few uninformed agents to "go read your post!!" Your "myth-busters" blog about short sales was amazing. So many "rumors" and made up rules are floating around, it's nice to know that someone actually knows what they're talking about! Your experience shows with every post. You can honestly say, "been there--done that" about almost any glitch that we run across with short sales.

Thanks again for an amazing Destin short sale blog. Please keep posting!! I look forward to every new email.

Ronda Densford, REALTOR®Magnolia Properties

It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.
Search Destin Florida real estate
Short Sale Pre Foreclosure Help.

Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
Email itswendy@rulnickrealty.com

Wendy Rulnick specializes in real estate sales, short sales, traditional sales on Emerald Coast of Florida: Destin Florida real estate, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Dune Allen, Blue Mountain Beach, Crestview, Freeport, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field. Wendy Rulnick, Broker and Realtor, has been selling real estate for 20 years. She has won numerous awards, including the coveted ADDY for advertising design. An expert marketer of real estate listings, she negotiates successfully to her clients' advantage. She is supported by a team of top buyer specialists. She lists and sells homes, condos and townhomes in and around Destin Florida. Wendy is in the top ½ percent resale agents on the Emerald Coast, and was featured in Kiplinger Personal Finance Magazine as a short sale specialist.

Homeowner Stability Plan Affects Destin Real Estate and the Emerald Coast of Florida

Most of us have read the Treasury Department's new Homeowner Affordability and Stability Plan .

After reading the plan, with details to be unveiled on March 4, I want to know- "How will the plan affect Short Sales? " Most of the plan is focused on aiding homeowners whose primary residence is at risk of foreclosure. Not everyone will be helped by this plan. Some of those who won't may include homeowners with loans not guaranteed by Fannie Mae or Freddie Mac. Many have lost jobs or have lost so much income they would not qualify. Other owners may have rental properties that cannot be sustained. In my area on the Emerald Coast of Florida, military families from Eglin Air Force Base or Hurlburt Field are required to relocate to change bases. These airmen often keep their past residence as a rental property. Now they are losing tenants. Why? Many unsold homes go on the rental market. Thus rental rates have declined significantly due to the oversupply of these properties. They can no longer cover their mortgage payments. There are also investors who were not "flippers". They might have saved their whole lives to buy a condo in Destin, to find that the resort-rental market has declined by 35%. There is no aid to them in the plan. Many areas in Florida and other parts of the country have economies that depend on tourism and the resort industry. Those who will not be assisted by the plan will have to resort to their best alternative, a short sale, or worse, foreclosure.

The Treasury Department states the Homeowner Affordability and Stability Plan will be effective because it will, among other things, limit "the Impact of Foreclosure When Modification Doesn't Work: Lenders will receive incentives to take alternatives to foreclosures, like short sales or taking of deeds in lieu of foreclosure. "

In my opinion, to receive incentives to approve short sale, banks must be required to:

1.Shorten approval time frames to 30 days
2.Require second mortgage holders to accept a set amount, such as $3000, to release their lien
3.Consider incentives for approving investment properties that meet certain criteria, as mentioned above
4.NOT report a "charge off" or "settled for less" to credit reporting bureaus

Further, I believe all who have had short sales should have credit reports revamped to remove the negative impact of the event. If they don't, perhaps only 10% of borrowers might qualify for a loan at the best rates! If the government is "intervening" at all, then do it right. Thus far, the banks have done little to reduce the backlog of short sales and free up credit. If they are just given an "incentive" without definitive guidelines, then we might expect to see more of the same.

It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.

Search Destin Florida real estate
Short Sale Pre Foreclosure Help.
Destin Real Estate Blog

Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
Email itswendy@rulnickrealty.com

Wendy Rulnick specializes in short sales and Destin real estate and vicinity on the Emerald Coast of Florida. All Rights Reserved. *Homeowner Affordability and Stability Plan - How Will It Affect Short Sales?* Contact Wendy Rulnick regarding Destin Florida real estate and vicinity. Copyright © 2009 by Wendy Rulnick.
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Wendy Rulnick Recommended by Short Sale Lender

Today, after getting approval on a short sale home in Destin Florida, I received a letter from the negotiator at Everhome Mortgage:

EverHome Mortgage Company
Loss Mitigation Department

Dear Wendy,

Talk about a pleasure to work with! You are the consummate professional. Your honor and integrity are unquestionable. You have the patience to persevere even in the face of adversity and difficult circumstances. Your compassion for the people you serve is a model for humanity especially in this current economic environment. You recognize what it means to be a beacon of light for many who are in dark places.
Thank you for your insatiable appetite for good will and for the effort you put forth in every situation to try to make it better. It's easy to see why you are the top short sale specialist in Northwest Florida. Keep up the good work! May every blessing you give out be returned to you in great abundance!

Sincerely,
Beverly, Default Loan Workout Specialist

It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.

Search Destin FL real estate
Short Sale 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 itswendy@rulnickrealty.com

Wendy Rulnick specializes in real estate sales, short sales, traditional sales on Emerald Coast of Florida: Destin Florida real estate, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Dune Allen, Blue Mountain Beach, Freeport, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field. She is ranked in the top ½ percent of all Realtors on the Emerald Coast of Florida for resale listings sold and was featured in Kiplinger Personal Finance Magazine as a short sale specialist.

Destin Home Approved for Short Sale

This Destin Florida home was mortgaged for $415,000. It has an in-ground pool, two-car garage and 1400 square feet. In today's market it is worth $205,000. The short sale was just approved by Everhome Mortgage in 50 days. The negotiator was cooperative, and available by both phone and email. The short sale involved two mortgages, the second was Citi, who is to receive $3000 at the closing. The sellers have been saved from foreclosure and might be able to purchase another home in as little as two years.

When selling a short sale, it is best to use an experienced agent.
It's Wendy!

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

Search Destin real estate
Short Sale Pre Foreclosure Help.
Destin Real Estate Blog

Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
Email itswendy@rulnickrealty.com

Wendy Rulnick sells real estate on the Emerald Coast of Florida, and is a short sale specialist. She sells Destin, Santa Rosa Beach, South Walton, Seagrove Beach, Rosemary Beach, Niceville, Fort Walton Beach, Crestview, Navarre, Mary Esther, Bluewater Bay and vicinity.
This site, Wendy Rulnick or Rulnick Realty, Inc. is not providing legal or tax advice. The information provided is for educational and informational purposes only. It is recommended that sellers considering a short sale should consult an independent legal and tax advisor for more information.

Destin Short Sales: Banks Changing Locks Hurt Sellers

Since I wrote my last blog post about BANKS CHANGING LOCKS on short sales I have had three more cases of lock changes. Today it was on an $850,000 home in a secure gated near Detsin, FL. In fact, just yesterday we received an offer on the property. The home is currently on a rental program and is regularly and well-maintained. We found out about the lock change when the seller's rental company went to change the air conditioner filters today. There was a note on the door warning that the property had been secured, and NOT to enter. The deadbolt was changed. This time the bank was Countrywide who did the dirty work. Their "property preservation" company would have had to climb over a locked gate to get into the subdivision! My sign was RIGHT THERE! These cowboys didn't bother to call. Nor did they happen to notice the pool fountain was running and the house looked immaculate. They just CHANGED THE LOCKS.
The number to call they left on the door is just Countrywide's customer service. The non-communicative representative had me on hold for 20 minutes, then told me to call another number. THAT number was just a recording! This has got to STOP! How are we going to help the banks by doing THEIR jobs, selling these properties pre-foreclosure, if they put up road blocks? How many hours do my staff and I have to spend tracking down keys, replacing signs and driving to properties we cannot get in? Not only does it waste our time and money, it COSTS THE BANKS MONEY by paying the property preservation companies for work they SHOULD NOT BE DOING!
Last week I called ASC four days in a row asking for keys to the new lock they changed by GOING PAST MY SIGN! The house, in Navarre Florida, was maintained, power on, lawn mowed. ASC's property preservation department never called me back. SO my seller changed the locks back himself so we can SELL HIS HOUSE.
THANK YOU BANKS!

It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.

Search Destin FL real estate
Short Sale Pre Foreclosure Help.
Read My Destin Real Estate Blog

Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
Email itswendy@rulnickrealty.com

Wendy Rulnick specializes in real estate sales, short sales, traditional sales on Emerald Coast of Florida: Destin Florida real estate, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Dune Allen, Blue Mountain Beach, Freeport, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field. Wendy Rulnick, Broker and Realtor, has been selling real estate for 20 years. She has won numerous awards, including the coveted ADDY for advertising design. Wendy lists and sells homes, condos and townhomes in Destin FL and the surrounding areas. She is ranked in the top ½ percent of all Realtors on the Emerald Coast of Florida for resale listings sold and was featured in Kiplinger Personal Finance Magazine as a short sale specialist.
All Rights Reserved. *Destin Short Sales: Banks Changing Locks Hurt Sellers* Contact Wendy Rulnick regarding Destin Florida real estate and vicinity. Copyright © 2009 by Wendy Rulnick.
This site, Wendy Rulnick or Rulnick Realty, Inc. is not providing legal or tax advice. The information provided is for educational and informational purposes only. It is recommended that sellers considering a short sale should consult an independent legal and tax advisor for more information.
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Letter to Florida Senator Martinez: Destin Short Sales and the Bailouts

Mel Martinez
United States Senator, Florida

Dear Senator Martinez,

I am a real estate broker in Destin Florida. I primarily represent sellers who are in the process of short sales. As you know, a significant amount of our population has lost jobs and income, and those homeowners are unable to keep up with their mortgage payments or keep their properties. Their best solution is to sell their property as a short sale. Unfortunately, the sellers' lenders processing these requests take three to six months and sometimes longer. During that time, buyers lose interest or must go on to buy other properties. These long delays are contributing to declines in market value over and above the economic cycle we are in. My suggestion is to REQUIRE those banks getting bailout funds, and all of them, to staff up their short sale departments, so that this inventory can be reduced and home purchase time can be normalized to a standard 30 day period. By speeding up short sale approvals to normal time frames, there will be one less contributing factor to price declines. Further, speeding up short sales will reduce the amount of foreclosures in our market. Foreclosed properties cause surrounding market declines. In many cases, these short sale lenders reject offers or lose buyers, end up foreclosing, and sell the properties for even LESS than they would have received in a short sale. If the banks are being granted funds from the citizens, then they have to STOP causing further losses and START helping the taxpayers and property owners. I would be happy to speak with you in more detail, as every day I get calls from homeowners trying to do the right thing, who are prevented from doing so by the very banks we are giving funds to.

Wendy Rulnick

Broker, Rulnick Realty, Inc.
Destin FL 32541

itswendy@rulnickrealty.com

850-650-7883 ext 204

Emerald Coast Short Sale Sellers: If You Want Me to Help "YOU" - You've Got to Help "Me"

Are you enlisting me to help you sell your Short Sale? I know you've been through a tough time of late. I understand, and empathize. I want to help you out of your situation with an upside-down mortgage, a need to sell your property, and a way to avoid foreclosure. I will go "all out" to help you. I will implement a 60-point checklist. I will organize your documents. I will call your lenders. I will get you a written offer for your property, and prepare a package for approval that will be hard to deny. During that time I will have made an average of 68 phone calls, sent dozens of emails, faxed a hundred pieces of paper and expended weeks of man-hours on your behalf. I will do my part-- and if you are denied-- it won't be because of me. But guess what? YOU have to help. I cannot do it alone. So, before signing on the dotted line and hiring me to help you with your Short Sale, I need a commitment. YOU, the Short Sale seller, promise and commit to the following:

You will return your listing paperwork to me within 3 business days. That includes property disclosure, mold disclosure, condo disclosure, homeowners association or any other applicable disclosures. I cannot represent your real estate properly without the same.

You will return your Short Sale documents to me within 3 business days. This means your hardship letter, last two years tax returns, financial worksheet, letters of authorization, paystubs and bank statements as I require. If you don't disclose your financial information, you are NOT going to get approved. If I don't have authorization to speak with your lender, I won't be able to help you.

You will keep your house presentable to show. Please move your truck for your photograph and close the garage door. Please vacuum the dog hair. Please pick up the clothes and dishes.

You will provide a key for access to your house. I will install a lockbox. I cannot sell your home by "appointment" only.

You will not rent the property for one-year term, with no early termination. I cannot get an investor to buy your property in this market with a one-year lease.

You will disclose any liens on your property. You will not "forget" there is a second mortgage. Or an IRS tax lien. If you do, you are wasting your time, my time, your lenders's time, the buyer's time and the buyer's agent's time.

You will inform me of any paperwork you receive from your lender, especially a Motion for Summary Judgment. I need to know how long we have to sell the property, or I cannot do my job.

You will not remove appliances. You will not strip the oven, dishwasher, microwave and garage door opener. This will lower your market value in such a way that your lender's appraisal will not adequately reflect the damage, and your Short Sale may not be approved.

You will consult an attorney and/or accountant. When I tell you that you need to consult a lawyer or tax specialist, you will not speculate. When I tell you I am a licensed real estate agent and you have addressed an area outside my expertise, I mean it.

You will not "change your mind" in the middle of your short sale, or you will be prepared to pay a cancellation fee. Changing your mind includes doing a deed-in-lieu of foreclosure, trying to modify your loan or filing bankruptcy. If you do, you cannot expect my forthright efforts will have been for free.

You will not "change your mind" after you have signed a contract. In doing so, not only will you incur a cancellation fee, you may be sued by the buyer for performance, damages and maybe more. Consult with your attorney on that one.

You will respond to my emails and phone calls. Please don't hide from me. I cannot move forward when you are missing, in denial or don't know what you need to do.

You will take the Short Sale process seriously. When your lender, through me, asks for documentation, they mean it, too. They won't forget. If you don't provide the required documentation, they will deny your Short Sale and your file will be closed.

In summary, if you want to hire me to help you- I will perform. If you want to succeed, you must perform.

It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.

Search Destin Florida real estate
Short Sale Pre Foreclosure Help.
Read my Destin ReaL Estate Blog.

Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
Email itswendy@rulnickrealty.com

Wendy Rulnick specializes in real estate sales, short sales, traditional sales on Emerald Coast of Florida: Destin Florida real estate, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Dune Allen, Blue Mountain Beach, Crestview, Freeport, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field. Wendy is in the top ½ percent resale agents on the Emerald Coast, and was featured in Kiplinger Personal Finance Magazine as a short sale specialist.
All Rights Reserved. *Emerald Coast Short Sale Sellers: If You Want Me to Help "YOU" - You've Got to Help "Me" Contact Wendy Rulnick regarding Destin Florida real estate and vicinity. Copyright © 2009 by Wendy Rulnick.
This site, Wendy Rulnick or Rulnick Realty, Inc. is not providing legal or tax advice. The information provided is for educational and informational purposes only. It is recommended that sellers considering a short sale should consult an independent legal and tax advisor for more information.

Destin Florida Short Sale - Paradise Retreat

366 Sandy Cay Dr., Destin FL 32550

This Destin Florida home is all brick. Located in Paradise Retreat with an open floor plan and cathedral ceilings. The dining and living area has upper shelving and the interior walls were recently painted. The kitchen is centrally located and provides a breakfast bar. The master bedroom provides a large walkin closet. The home backs up to a common area providing privacy. As owner of this wonderful Destin home, you'll enjoy deeded beach access tp the Gulf of Mexico! Buyer to verify all data. Short sale subject to seller's mortgage holders' approval. This Destin Florida property is offered for $219,900.

Wendy Rulnick, Rulnick Realty
850-650-7883