Destin Florida Short Sales & Real Estate

This beautiful home on Shire Lane in Silver Oaks, Crestview Florida just sold.  The home had impeccable upkeep. It was 2751 square feet, four bedrooms, two full baths and two car garage. The landscaping was outstanding. The sale price was $218,000.

This home sold as an Eglin Air Force Base HAP Private Sale.  HAP (Homeowners Assistance Program) is a program which assists U.S. military service members relocating to new bases, called PCS (permanent change of station).  In these cases, the service member's mortgage exceeds the market value due to home values declining.  Under certain circumstances, HAP will cover the mortgage loss.  With a HAP Private Sale, the government reimburses the military service member after closing for the loss, including closing costs up to 3% for conventional loans.  The service member would bring funds to closing to cover the deficit between the contract net and the mortgage balance.  HAP would reimburse based on 90% of the original sale price plus improvements. 

With a HAP Augmented Sale (also called Government Aquisition), HAP will cover the loss at closing not to exceed the mortgage payoff.  You can see that the HAP Private Sale will help the service member recoup more of their losses.  HAP Private Sale is not an option for all service members, since the mortgage deficiency may be significant, and they would have to initially cover the loss with their own funds, while waiting for reimbursement.

For help with your Eglin Air Force Base or Hurlburt Field HAP sale, contact an experienced real estate agent specializing in HAP, VA compromise sales and short sales.

 It's Wendy!

Wendy Rulnick, Broker, Rulnick Realty, Inc.

Call toll-free 1-877-487-9639 or local 850-650-7883 ext 204

Email Wendy: itswendy@rulnickrealty.com

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

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"Did you get the contract signed by your seller?”  The offer expired yesterday!

"Why won’t your buyer sign the document?”  We need it now for short sale approval!

"Your seller did not sign the earnest money release!”  We’ll go to court.

Guess what?  You cannot make your buyer or seller DO anything.  You can relay a message.  You can make a suggestion. You can advise they speak to an attorney.  But you cannot MAKE them do anything.  

This week I had two unfortunate calls from other brokers.  One stated his buyer would go to court and it would be "ugly” if my seller does not sign a release of contract.  The other broker called one of my agents and threatened that if our buyer didn’t sign a document, he would be in violation of the contract.

Well, you know what? That is not my decision nor your decision to make.  That’s the buyer’s or seller’s decision.  They can choose not to sign, they can choose not to respond by deadlines and they can choose to take no action.  All you can do is tell them what the deadlines are (that they should be able to read on their own) or relay a request.  Sure, you can relay a threat, too. 

All too often I see agents act like attorneys.  I see them get emotional and insert themselves into contracts.  They are treading on dangerous territory.  The Realtor Code of Ethics states we cannot practice law. 

Article 13

Realtors^® shall not engage in activities that constitute the unauthorized practice of law and shall recommend that legal counsel be obtained when the interest of any party to the transaction requires it.

So, skip the strong arms tactics. We all wish our sellers and buyers would comply with contracts and deadlines.  Sometimes they don’t.  Leave the deciding to the client.

It's Wendy!

Wendy Rulnick, Broker, Rulnick Realty, Inc.

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

Email Wendy: itswendy@rulnickrealty.com

Destin FL Real Estate

Destin Short Sales & Pre Foreclosure Help.

Read Wendy's Destin Real Estate Blog

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. 

 

The other day I had a seller refuse to contribute to the loss on her short sale.  Her home was $100,000 upside down, and she had been trying to short sale for two years.  She told me she absolutely did not want a foreclosure on her record. 

During negotiations with Bank of America, the mortgage insurance (MI) company requested the seller pay $3000 to offset some of the $100,000 loss.  When they pulled the seller's credit report, they saw she had taken out another loan after she initially defaulted on her mortgage.  This is what triggered the request for cash contribution .  This is not an uncommon request.

At first, the seller agreed to pay the $3000 to get her short sale approved.  All was well.

Or so I thought.  A day later, she changed her mind. You see, she had read up on the internet and knew better - she would not pay a dime and they should cover the whole loss.

I told her the short sale would be denied if she did not contribute the $3000.  This was about the third round of negotiations.  The investor and MI company had done their analysis, and without the contribution, they would simply foreclose.  This was not a bluff.

The choice was clear. Invest $3000 for a short sale or invest nothing and get a foreclosure.

If you're curious what a Bank of America denial letter looks like, here you go....

* Situation altered to protect identities.

It's Wendy!

Wendy Rulnick, Broker, Rulnick Realty, Inc.

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

Email Wendy: itswendy@rulnickrealty.com

Destin FL Real Estate

Destin Short Sales & Pre Foreclosure Help.

Read Wendy's Destin Real Estate Blog

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. 

Regions Mortgage speedily approved a Waterscape condo for short sale in Fort Walton Beach, Florida.  This Okaloosa Island condo was decorated with luxury in mind. The kitchen had granite counters, undermount sink, stainless steel appliances.  The bunk room was an added bonus. Waterscape has two pools, two hot tubs, waterfall and impressive work-out center.

This Waterscape unit had a Regions mortgage of about $450,000.  The sale price was about $260,000.

How did Regions approve this short sale in just two weeks?

- Complete package submitted to lender
- Strong fair market value offer

If you are considering selling your Okaloosa Island condo to avoid foreclosure, contact an experienced Fort Walton Beach real estate agent who specializes in short sales.

It's Wendy!

Wendy Rulnick, Broker, Rulnick Realty, Inc.

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

Email Wendy: itswendy@rulnickrealty.com

Fort Walton Beach Florida Real Estate

Okaloosa Island Short Sales & Pre Foreclosure Help.

Read Wendy's Fort Walton Beach Real Estate Blog

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. 

1254 Ego Drive, Crestview Florida just sold as a short sale.  It was a Bank of America VA Compromise Sale.   The Countryview Estates home had serene landscaping with a Japanese maple tree, asian benches, St. Augustine grass and enormous patio. Inside, wide open spaces in the dramatic living room open to dining. Kitchen was bright and big with center isle. The soothing master bedroom was separate from secondary bedrooms. The Countryview Estates home was 1688 square feet.  The sale price was  $132,246.

Bank of America approved this VA Compromise short sale in about four weeks.  How so quickly?  There was an existing VA appraisal.  VA appraisals for compromise sales are good for six months.  I knew the required net and ensured the purchase price, closing costs and terms would be acceptable in advance. And the negotiator said I was good to work with.

It's Wendy!

Wendy Rulnick, Broker, Rulnick Realty, Inc.

If you need to do a short sale, VA Compromise sale or HAP sale, be sure to contacted an experienced Crestview real estate agent.

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

Email Wendy: itswendy@rulnickrealty.com

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

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Fabulous Bluewater Bay Florida short sale home! 933 Ridgewood Way, Niceville, Florida, in the Woodlands has sunken living room with real hardwood floors, vaulted ceiling, wood-burning fireplace and wet bar. French doors in the separate dining room offer an incredible view of the pool and large patio. Eat-in kitchen has solid wood cabinets. Wood floors in dining room, bedroom and hall. New energy efficient doors and windows throughout the house. New AC/Heater. This Woodlands, Bluewater Bay, short sale has a very large, fenced landscaped lot with in-ground pool, new irrigation system, fruit-bearing trees and lots of palm trees. 

As an owner in Bluewater Bay, you are open to the world of golf, swimming, tennis, marina, boating, dining and more.  The Woodlands located five minutes from Destin Florida- and beaches, Destin Commons, movie theaters and fine dining.

933 Ridgewood Drive, Niceville Florida - offered for sale - $223,900

It's Wendy!

Wendy Rulnick, Broker, Rulnick Realty, Inc.

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

Email Wendy: itswendy@rulnickrealty.com

Niceville Florida Real Estate

Bluewater Bay Short Sales & Pre Foreclosure Help.

Read Wendy's Niceville Florida Real Estate Blog

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. 

 

  

The military's Homeowner Assistance Program is getting speedier all the time!  I just had another HAP contract approved, this time for a Crestview Florida home sale in the Redstone subdivision.  The sellers were PCSing from Eglin Air Force Base more than 50 miles away.  They purchased their home prior to July 2006, their property value had declined at least 10% and they met other HAP requirements.  Primarily, they owed more on their mortgage than the property was worth. 

That's where HAP comes in to help our military service members.  HAP will pay the mortgage shortfall at closing to assist the service member relocate to a new base. 

For this Crestview Florida HAP sale, the airman sent in a complete application along with the real estate contract and market analysis which I provided.  HAP approved the sale in about four weeks.

Here are some quick hints for Eglin Air Force Base or Hurlburt Field HAP sellers:

HAP will normally contribute 3% of the purchase price for closing costs on conventional sales.

HAP will pay the Realtor fee.

You must keep your mortgage current, pay any liens, judgments and prorated property taxes.

To speed your approval process, always send in a complete application, and hire an experienced HAP real estate agent.

 

It's Wendy!

Wendy Rulnick, Broker, Rulnick Realty, Inc.

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

Email Wendy: itswendy@rulnickrealty.com

Eglin AFB FL Real Estate

Eglin AFB and Hurlburt Field Short Sales & Pre Foreclosure Help.

Read Wendy's Emerald Coast Real Estate Blog

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

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I got "sold” by a good salesman the other day.  Yep, buying a pair of sneakers.  It was at a fancy outlet mall, and a big national brand.  I tried on the sneaks, and they felt a little uncomfortable.  The salesman, quite personable, said "You’ll get used to them” and that they were the "best sneakers he ever wore”….  He seemed  knowledgeable about shoe construction and foot mechanics.  So, with a little knot of hesitation, I took his word for it and bought the sneakers.

Wrong!  They hurt.  After a few days of attempting to wear them, they would not even fit.  The salesman was just TOO good.  He had "sold” me-- I didn’t buy.  Now I won’t go back to that store again nor ever buy a pair of that brand shoes.

What does this mean to the real estate salesman?  Sometimes you can be TOO GOOD at "selling” – what people don’t want.

Some examples of being "too good” when selling to a buyer?

Convincing them it’s the "house for them”, even though they might barely qualify for the mortgage.

Commenting that "the home just needs a little work” to make it perfect, when they aren’t handy.

Saying they’ll "get used to the commute”, even though they complain about gas prices.

Telling them "It’s a great buy!” despite knowing they don’t love the home.

Now everyone normally has some minor objections when they are making a buying decision.  It’s part of the customer’s "gut check” process and we all do it.  But when you KNOW you are "selling” versus helping them overcome their own objections, you’re headed for disaster.

In the end, what is the outcome?  Deals fall through.  That’s right.  The buyers really didn’t want the home.  They found an out.  It might be the home inspection.  It might be their mortgage qualifications suddenly change.  Or they might walk.  You see, they didn’t choose to make the purchase, the salesperson pushed them.

The same thing can happen with sellers who don’t really want to sell.  They list high.  They don’t cooperate.  They default, too.  The salesman was just too good and "sold” them on listing.

So if you are suave, charming and have a silver tongue, keep it in check.  Listen to the customer.  Don’t sell them what they don’t want. You may make less "sales", but will certainly have more "closings".

It's Wendy!

Wendy Rulnick, Broker, Rulnick Realty, Inc.

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

Email Wendy: itswendy@rulnickrealty.com

Destin FL Real Estate

Destin Short Sales & Pre Foreclosure Help.

Read Wendy's Destin Real Estate Blog

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. 

Magnolia House condominium #408 is at the end of Destin Point on Holiday Isle in Destin Florida, with wonderful views of the Gulf of Mexico, East Pass and the Jetties. Sit on your balcony, relax and watch boats come into and go out of Destin Harbor. This condo has been redone with an elegant touch. There are granite countertops in the bath and kitchen, undermount sinks, stainless steel and black appliances, angled ceramic tile in the hall, bath and kitchen and like new carpet in the bedroom and living room/dining area. Magnolia House condos are located in the Destin Pointe community, with 24 hour security, covered parking, tennis, a Gulf front pool, shuffleboard and two freshwater lakes - Lake Christina and Lake Caroline.  This is Holiday Isle living in Destin Florida as you can see in the virtual tour!

Magnolia House condo #408 offered for sale for $250,000

Contact:  Rulnick Realty, Inc.  850-650-7883

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This is a great corner lot on Melvin Street for building your new home in Destin Florida. Located close to Destin Harbor, restaurants, shopping and the beach.   It is about 100 x 64, in Azalea Gardens on the corner of Melvin and Azalea.  "Tap fee is paid", which means you save money when hooking up to public water and sewer!  Call Destin Florida home with this affordable lot in an established neighborhood.

238 Melvin Street, Destin Florida lot for sale - $57,000

Contact Rulnick Realty, Inc. for more information.

www.RulnickRealty.com telephone 850-650-7883

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