Make Amends with Your Friends - Before It's Too Late

This week I lost a dear friend to cancer. I had known her for many years, but for two of those years we did not speak. Why not? For a silly reason and a silly misunderstanding. We reconnected when I found myself seated in a restaurant booth next to her and her family. She did not see me, but I recognized her voice immediately. I felt joy in my heart when I heard her. I called over the waiter and asked him to send a bottle of wine to her table. When she got it, she exclaimed “Who sent this?”. I turned around and greeted her. I could see my overture was welcome and she and I planned an evening alone. When we got together we talked about what happened and why we did not speak for two years. It was simply a misunderstanding. It never should have occurred. Thank goodness we reconnected, as we always should have been friends. In the last few years I did not see her much, but she and I had a good connection inside of us.
If there is someone in your life who used to touch your heart, don’t wait. Don’t feud. People come from different places and have different experiences and outlooks. The problem may have nothing to do with you. Forgive them and reconnect, before it is too late.
Wendy Rulnick

Short Sale Bank Negotiator Interview Coming Up

Saturday August 29th.... Bryant Tutas and Wendy Rulnick will be interviewing a Short Sale Negotiator from one of the major lenders. He's been doing this for 18 years and is a wealth of information. He has agreed to spend 90 minutes answering our questions.
Bryant and I have been negotiating with him for a couple of weeks now and have finally came to terms on his fee and the terms for the interview. He has to remain anonymous as it could jeopardize his job if they knew he was giving this interview.It's feels kind of like "The Insider"!
We can assure you that the Interview is going to be awesome. Wendy and I spoke with him for about an hour recently and were blown away at the stuff we learned in such a short period of time.This knowledge WILL make you money!
The time is Saturday August 29 at 11:00am Eastern (10:00 Central). The place is your computer as the interview is being done as a Webinar. The cost is.......
$27
The Interview is being recorded and will be available on MP3 just in case you can't make it "live". Folks...... this may be the best $27 you have spent in a long time. If you want to join us, check www.ShortSaleSuperstars.com

Bank of America Approval - Version 2 - What Deficiency?

Alas! There is more than one version of the Bank of America approval letter. One without the dreaded "deficiency" reference. Mind you, not stating they reserve the right to pursue a deficiency may not mean Bank of America has given up that right, but it does cause less trepidation.

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

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

36 21st Street, Santa Rosa Beach FL Home For Sale

This Santa Rosa Beach FL home has a peaceful setting with brick walkways, wrought iron rails and an enormous deck to enjoy the outdoors. Wide-open home with wood laminate floors, electric fireplace, cathedral ceilings. Huge kitchen with many cabinets and much counter space. Office in front of home for private study. Inside laundry room. Home loan is assumable from Vanderbilt Mortgage ($467/mo) for a $500 assumption fee. If the buyer assumes the loan the seller will finance the balance, less closing fees. This Santa Rosa Beach FL home is about ten minutes to the beaches of the Gulf of Mexico, shopping at Silver Sands, Baytowne Wharf, Sandestin and Grand Boulevard. Offered at $99,900.

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."

Short Sales - Practical Training for Agents

Wendy Rulnick and Bryant Tutas recently taught real estate agents from around the country-- practical advice for success with short sales. It benefits the consumer, buyers, sellers and the entire economy if agents learn the most effective way to do short sales. Session One of the Short Sale Basics webinar discussed seller choices when faced with foreclosure, and the ramifications of different alternatives. Some of the topics covered were FICO scores, affects of deed-in-lieu of foreclosure, federal programs for homeowners in trouble. The next session, July 11, at 10:00 a.m. Central, will discuss qualifying the seller for a short sale.

Here are comments from students taking the webinar:

"I've completed lots of training but feel yours was most valuable in your method of approach and delivery. The dialogue made it feel like I was in an actual brick and mortar classroom with real live scenario." Wendy Weber, Realtor, Scottsdale, AZ

"Your webinar was very impressive and informative. I feel that it didn't come across as a lecture, but good and clear conversation. The short sale is a very complex process, but you have made it much clearer and there was a lot of useful information." Richard Barton Real Estate Investor

"I am really glad you guys are doing this, I was looking for a class taught by practicing real estate brokers." Jana Hristova

"I enjoyed the SS session 1 yesterday and look forward to the next 4. After Wendy's comment about the lame duck DOD HAP program yesterday I decided to blast my Congressman and 2 Senators an email blasting DODs inaction as a Citizen, Veteran and Realtor serving military clients." Don Duft, REALTOR

"I just wanted to thank you again and let you know that you and Wendy did a fabulous job! I'm really looking forward to the next one." Debe Maxwell, Realtor/Broker

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

Fort Walton Beach Short Sale Appoved in 2 Days!

This week I had my all-time record fastest short sale approval. It took two days.

Here is what happened:

Property: Investment condo - Fort Walton Beach FL
Seller Hardship: Loss of Income
Lender: BB&T
Original Purchase Price: $640,000
Mortgage Balance: $550,000
Contract Price: $380,000
Submitted: 6/22
Approved: 6/24
Conditions: $30,000 promissory note negotiated directly between seller and BB&T

The key to this quick approval was both the lender and the package. Unlike many other lenders, BB&T will start a dialogue directly with the homeowner prior to the short sale listing. They assign a negotiator in advance. They do not suggest a list price. BB&T did not order an appraisal, either, so they must rely on internal valuation models. The package I sent had no missing items, and the buyer, price and terms were strong. After I received the approval, I called the buyer’s agent, a wonderful lady with whom I have worked before. She could not believe it, since we allowed over 90 days for lender approval in the contract. She was stunned. She said:

"Wendy…. Wendy…. Wendy… Oh my!... I don’t usually drink, but I think I’ll have a Margarita".

I told her "Have two!"

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

Sign up for "SHORT SALE BASICS FOR REALTORS" Webinar - Four Sessions Left, all available on MP3

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.

"All Things Are Difficult Before They Are Easy"

A few weeks ago my life started to change. I was asked to step outside my boundaries and outside of my comfort zone. What happened? I “met” Bryant Tutas- otherwise known as "Broker Bryant" . You may have heard of him- he’s one of the best-known real estate bloggers around. His writing is insightful, direct, witty and often very funny. He’s got quite a following.

Anyway, in the past several months I started to notice Broker Bryant’s comments on my blog posts and others. I noticed we were “simpatico”, of like-mind, on many topics, notably short sales. We exchanged a few emails, and a couple of months ago, Bryant asked me if I was interested in doing a joint venture. Among other things, he wanted to know if I would do a live webinar with him about short sales.

Well, ignorant me, I did not even know what a webinar was! I had to look it up. If you don’t know– a webinar is an “online live educational presentation”. Bryant and I would teach real estate agents about short sales. That idea scared the heck out of me, but how could I say “no”? I love short sales! I love discussing them, analyzing them, doing them and answering questions about them. I welcome calls from agents in my area or around the country looking for information or direction on short sales. I love helping the consumer with short sales. And that is what I do all day. So does Bryant.

But what would we have to offer that would be different? There are a lot of “classes” about short sales. The difference here is that we are both practicing real estate agents who spend 90% of our time listing and selling short sales. And we do them from beginning to end. Bryant and I do all our own negotiating, we don’t refer out to a law firm, title agency, assistant or loss mitigation company. (Not that there is anything wrong with that). We are the ones on the telephone on hold with the negotiators- every day, getting sales closed. We think that our practical experience with the day-to-day workings of short sales can benefit others. We want to share what we've learned in a forum to provide concrete knowledge.

Enough about that. I am still nervous. We’ve never done this before- although Bryant has appeared on other webinars. So forgive us in advance if we goof up a little, or pause or stutter (especially me). What you will get, I promise, if you sign up for our webinar- is practical, usable, comprehensive information on short sales.

The first session of our five-part series is Saturday, June 27 at 11:00 a.m. Eastern. Join us.

Sign up for "SHORT SALE BASICS FOR REALTORS" Webinar

Short Sale Basics - Let The Class Begin!

I am excited to announce that Broker Bryant , Bryant Tutas of Tutas Towne Realty, and I will be launching a Short Sale Webinar starting June 27 - for all to learn and grow.... Broker Bryant has been sharing his thought-provoking and information-packed blog for years, and he never fails to delight his many followers. We are teaming up on this project to educate YOU and share our knowledge. Take it away, Bryant!

Via Bryant Tutas-Tutas Towne Realty, Inc:

Hi folks. Did you know I have been giving away free information on Active Rain for three years? Just about everything I know about Real Estate I have shared and have never asked for anything in return. Today, is going to be different.Starting Saturday June 27th at 11:00 am Wendy Rulnick and I, Broker Bryant, will be launching “Short Sale Basics”. This will be a 5 part, very comprehensive, course on Short Sales.If you are not familiar with Wendy check out her blog here. Wendy is the Broker/owner of Rulnick Realty in Destin Florida and…..

“Wendy Rulnick, is a Florida Realtor and Broker, and has been selling real estate for 20 years. She has won numerous awards, including the coveted ADDY for advertising design. Wendy was featured in Kiplinger Personal Finance Magazine as a short sale specialist.”

Wendy and I will be your instructors. Our goal is to help as many REALTORS® as we can become better at handling Short Sales. By empowering you we can do our small part to help Mr and Mrs Homeowner get through these difficult times. Together we CAN make a difference. Short Sale Basics is being presented as a Webinar. Each class will be 60-90 minutes long. As students you will be able to call in by phone or listen in on the Internet. We will take questions in advance of each class and will try to answer as many as we can during the session.These sessions are NOT for trying to sell you a product. Instead these are training classes. If you attend all 5 classes you will have the knowledge and confidence needed to succeed at Short Sales. You will be in a position to help folks and make a good income while doing so. We want you to succeed and we'll be there to help you in any way we can.Wendy and I will both be available during and after the course to answer any questions you may have as you start working with Short Sales. Here’s the class schedule and curriculum:

June 27th Session 1: Short Sale Basics
What is a Short sale
How does it affect the Seller
Why would the Lender consider a Short Sale
What role does the REALTOR® play

July 11th Session 2: Taking the Listing
How to qualify the Seller
Questions to ask
Documents needed
Disclosures and addenda to the listing contract

July 18th Session 3: Placing the property on the market
Proper pricing
Price reduction strategy
Marketing
Seller disclosures

July 25th Session 4: Selling the property
Qualifying the Buyer
Negotiating the contract
Knowing what the lender will accept
Time frames

August 1st Session 5: Presenting the Short Sale to the Lender
Preparing the package
Making your case
Follow up
Negotiating the payoff

Folks as you can see we have a lot of information to cover. There will be course materials sent to you in advance of each session.OK since I already mentioned this is not free…you’re probably wondering how much it is? The cost is $27 per session or you can purchase the series for $97. All sessions will be recorded and given to you as a MP3 file so you can go back and listen at your leisure. AND....you will get a membership for our Short Sale Networking site. The course is guaranteed. If for any reason you feel you didn’t get your money's worth just let us know and we will give you a full refund. All we ask is that you are honest with us and yourself. Let us know where we let you down so we can improve.

Wendy and I are just like you, we both work Real Estate full time. We both handle our own Short Sales from beginning to end. Wendy has tons of experience and is a wealth of information. My job will be to get this information from her and present it to you in a no nonsense style so we can all learn together.Short Sales are going to be around for years to come. If you are not interested in listing them that’s OK. You may still be selling some on the Buyer side. This course will give you the knowledge needed to assist your Buyer in choosing the right property. Knowledge is power. I can already see I’m going to need to write a few more posts about this.

This one is waaaay too long.So.....are you ready?

All you have to do to register is send us an email at shortsalebasics@gmail.com Let us know what sessions you want to attend. We’ll then send you the instructions on how to pay and where to “go” for the class. We have room for 250 people. Who wants to be first?

Copyright © 2009 http://www.brokerbryant.com/ All Rights Reserved

Wendy Rulnick in Florida Realtor Magazine

The June 2009 issue of Florida Realtor Magazine references Wendy Rulnick, Destin FL Broker/Realtor of Rulnick Realty. Rulnick's article "22 Questions to Ask the Short Sale Lender" is called "impressive" and will help "ensure your transaction goes smoothly".

For short sale assistance on the Emerald Coast of Florida, 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 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. She has won the coveted ADDY award for advertising, is a Certified Residential Specialist, Graduate of the Realtor Institute, Accredited Buyer Representative, and Certified Relocation Professional. Wendy has been a Realtor for 20 years. She is Broker/Owner of Rulnick Realty, Inc., centrally located to all the Emerald Coast in Destin Florida.

email itswendy@rulnickrealty.com or call Wendy at 850-650-7883 ext 204

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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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.

Rulnick Realty Grows in Destin Florida

Rulnick Realty announces that Jeff Corl has joined the company. Jeff has been a Realtor® in the Destin Florida area since 2005 and has worked with properties from Navarre to Inlet Beach to North Walton County. Most recently he worked to acquire 160 acres in the North part of Florida's Panhandle for developers to create a Planned Use Development and will work with them to bring the homes and commercial property to market.

Prior to that Jeff was a corporate vice-president for a Fortune 500 telecommunications company. He currently is on the Board of Directors, serving as vice-president, of the Beach House Condominium and the Treasurer of St. Andrew's By-the-Sea Episcopal Church.

Wendy Rulnick, Broker, says "Jeff's thorough analyses of properties and buyer opportunities will bring value to his clients. We are thrilled to have him join our Destin real estate office."
You may reach Jeff Corl at 850-650-7883 or toll free 1-877-487-9639.

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

Riviera Beach - 21417 Palm Ave, Panama City Beach FL - Walk to Gulf Home

Totally renovated Florida home only 4 blocks to the Panama City Beach beach access & Gulf of Mexico.
The entry room (could be den or dining area) has a rustic brick floor & builtin bookshelves. Kitchen has granite countertops, breakfast bar (with palm decorative facial, GE Profile SS gas range (elec oven), Milano Free standing hood, GE Advantium Microwave/Oven, and hickory cabinets.
Porcelain tile flooring throughout the home with tile baseboards. The master bath has double sinks and large new ceramic shower. The kitchen has "dolphin" decorative tin ceiling. Natural gas has been run to the property and services the hot water heater, gas grill, and range.
Grilling out is easy on the side patio which has electric, water, gas. Privacy and chain link fenced rear yard. "Cool Max" type product recently put on roof. Tropical landscaping with 7 palms and majestic oak tree in front.
This is a great neighborhood - Riviera Beach and so close to the beautiful beaches of Panama City Beach Florida. Owner of this home will also enjoy upcoming international airport expansion in Panama City, new shopping and dining nearby. Short sale subject to seller's mortgage holders' approval. Offered at $209,900.

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

Search Destin Florida 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, 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.

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

Top Short Sale Fallacies

There are a lot of rumors, supposed strategies and endless classes teaching "short sales". Here are the top five short sale "tactics" worth debunking:

1. You should put a quick closing on your contract to get a faster approval. False. Many short sale lenders have up to 70,000 files they are processing at any one time, and up to 600 files per negotiator. Threatening that a buyer will "walk" or that you will pull a contract because of a contract closing date will generally have no effect on getting the lender to respond more quickly.

2. You should send in multiple offers to the short sale lender. False. Most large lenders only want one signed contract. Reference Countrywide's short sale package stating: "If there is more than one purchase contract, the seller may only submit ONE offer to Countrywide for review."

3. You can demand the lender not issue a 1099-C on the cancelled debt. False. The lender is required by law to report the forgiven debt on a short sale as income. You may not be liable to pay taxes on this debt, however, if you qualify under the IRS insolvency rule or the Mortgage Forgiveness Debt Relief Act.

4. You can negotiate with the lender to not report the short sale as "settled" to the credit bureaus. False. Again, most large lenders have standard approvals and reporting guidelines they will not vary, even if you hire an attorney. With a short sale, however, you might be able to borrow again in two years, versus four to seven years with a foreclosure or deed-in-lieu of foreclosure.

5. If your lender knows you are trying to do a short sale, they will stop the foreclosure process. False. Lenders cannot rely on a successful short sale transaction or even on a property receiving an offer. Stopping their collection and foreclosure efforts would weaken their position and potentially cause further financial loss. You may, however, be able to postpone a foreclosure sale date if you submit a reasonable short sale offer for consideration.

If you steer away from razzle-dazzle and tricky tactics, and rely on common sense, you will find your short sales a success.

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

Search Destin Florida real estate
Destin 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 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.

Fort Walton Beach Homeowners: Help To Save Home and Credit"

The best part of my day trumped any real estate sale I could ever make. I was chatting a friend, whom I'll call Jessica, in Fort Walton Beach Florida, when her cell phone rang. Jessica is a small business owner on the Emerald Coast, and I have bought her products for many years. Whenever I see her we talk about our lives and our businesses - one entrepreneur to another. Anyway, her phone rang and she looked at it, checking the caller id. "I am not answering that! It's a bill collector", she told me. Jessica proceeded to describe how her company's profits had dwindled in the past year, so that now her income was reduced to one-third of what it was. "People put off buying my product, they want until they absolutely have to or just stop altogether," she said. Jessica told me she had been getting behind in her credit card bills, and her mother had to pay her last three months mortgage payments. When creditors called, she would start into her sad story, "I am a single mother" and hope for any reprieve. She did not know how she was going to be able to make it. "I don't want to lose my house!" she admitted.
I advised Jessica to take immediate action and first call her mortgage lenders. They might be able to help with one of the following steps:
Modifying the mortgage terms for lower payments by extending the length of the loan
Reducing the mortgage interest rate
Temporarily suspending mortgage payments (forbearance)
Allowing missed payments to be paid back over time
Decreasing the total mortgage amount
Next, I told her to go online to Consumer Credit Counseling Service or the National Foundation for Credit Counseling. Groups like CCCS help people with debt management. They may be able to arrange a plan with creditors to lower monthly payments and save a dire financial spiral. Organizations that work with consumers to manage debt usually charge a small monthly fee, but only if there is capacity to pay. Suze Orman, the well-known financial guru, endorses such programs for those in need. The Consumer Credit Counseling Service of West Florida can be reached directly at (850) 314-9888 and is located at 913 N. Beal Pkwy, Ste H, Fort Walton Beach, FL 32547.
"Don't delay!" I told Jessica, "Take action right away. If you take these steps now, you may be able to save your home and your credit." She thanked me profusely, and said she had not known there was help available, and she would immediately call her lenders and the consumer credit counselors. If you are in a similar situation, don't deny it or wait to take action. If you wait, it might be too late to save your home, your credit and your well-being.

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

Search Fort Walton Beach 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. 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.

Rights Reserved. *Fort Walton Beach Homeowners: Help To Save Home and Credit"* Contact Wendy Rulnick regarding Fort Walton Beach 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.

Kiplinger Magazine: Wendy Rulnick Helps Destin "Short Sale" Sellers'

Wendy Rulnick, Destin Florida real estate broker, was recently interviewed by Kiplinger Personal Finance magazine. In the February 2009 edition, Kiplinger describes foreclosure avoidance and short sales. Some of Rulnick's Destin real estate clients, who recently participated in a short sale, had their story told. The homeowners plight unfolded from buying at the top of the Emerald Coast real estate market to their mortgage interest rate hike and personal job loss. Rulnick helped the sellers complete a short sale on their home, which cancelled about $100,000 in mortgage debt.

The Kiplinger article stresses "Short sales are best conducted by an experienced real estate agent who can negotiate the obstacles imposed by lenders or investors." Rulnick provided much of the information regarding the short sale process to the reporter. The story is "Fighting a Foreclosure".

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

Search Destin FL 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, 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 in 2008 for resale listings sold and was interviewed in Kiplinger Personal Finance Magazine as a short sale expert.

Copyright © 2009 by Wendy Rulnick. All Rights Reserved. 'Kiplinger Magazine: Wendy Rulnick Helps Destin "Short Sale" Sellers' Contact Wendy Rulnick regarding Destin Florida real estate 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.

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