Saturday, November 29, 2008

Market Street Inn, Sandestin FL Condo - Short Sale



This Sandestin FL condo is located in the Market Street Inn within Baytowne Wharf this is a lockout unit. Kitchen has granite countertops, tile floors and a stainless steel sink. The large master bath has double vanity sinks, separate shower and tub. Lockout unit has two beds, tub/shower combo, microwave and small refrigerator. Balcony directly overlooks the pool and well kept landscaping. Enjoy the numerous shops, restaurants and entertainment Baytowne Wharf and the area has to offer. Fees are Sandestin Owners Association $350 quarterly; Baytowne Wharf Fees $423 quarterly; Gateway condo fees $586.02 monthly. Buyer to verify all dimensions of this Sandestin FL property. Short sale subject to seller's mortgage holder's approval.
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 almost 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 dients' advantage. She is supported by a team of top buyer specialists. She lists and sells homes, condos and townhomes.

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Thursday, November 27, 2008

Beachside II, Sandestin Condo For Sale


1141 Sq Ft
2 Bedrooms 2 Baths
$575,000
This unit is located on the 9th floor of Beachside II at Sandestin Beach and Golf Club directly on the Gulf of Mexico. The kitchen has granite countertops, stainless steel sink and recessed lighting. The master bedroom provides an exquisite view overlooking the gulf. The master bath has a garden tub and a walkin closet. The convenience of the stacked washer and dryer gives you more time to enjoy the beach or relax on the balcony. Fees are Sandestin Owners Association $350 quarterly and Gateway condo fees $508.36 monthly.Short sale subject to seller's mortgage holders' approval.
It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.

Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
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 almost 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 dients' advantage. She is supported by a team of top buyer specialists. She lists and sells homes, condos and townhomes.

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"Sly" Short Sale Buyer - A Cautionary Tale

My story takes place in Destin, Florida. I have modified parts ever so slightly to protect identities, but I write this as a cautionary tale for short sale listing agents and short sale sellers.

I received an offer on one of my Destin FL short sale listings. It was a well-done contract with a fair price- $270,000- just slightly low, but in the realm of "workable" for acceptance by the short sale lender, Chase. The selling agent said the buyer was a single school teacher, and he provided a pre-approval letter with the offer. My seller was excited and signed the purchase agreement right away.

The next day, while finalizing my short sale package, the seller called my office with potentially disturbing news. He said his neighbor mentioned to him at the mailbox, that she received an offer on her own identical floorplan short sale home- from the same agent on the very same day, from the same buyer, the "school teacher". The neighbor happened to be a real estate agent.

Concerned, I immediately called the buyer's agent. "Is this the same buyer? Does he really intend to buy two homes? Or is he playing games with my seller's time and my time, waiting to see which offer was accepted and a better deal from the respective short sale lenders? Would he use the ‘as is with right to inspect' clause as an out on buying the house he didn't want? Does he understand both of these properties had to go into ‘pending' status with our Board of Realtors?"
Very dismayed, I got uneasy answers from the buyer's agent. He said with a chuckle "Yes, he would buy both homes if both were accepted. (On a teacher's salary?) Oh, and don't you know, Wendy, that this is what you should do anyway, this will help you out to see what the bank will take. This is how short sales are done", he instructed me. I explained to him that both houses had to go under deposit per our board rules, and if the buyer was really playing games, there would be serious consequences for one of the sellers. I hung up the phone and called the neighbor, the real estate agent. She told me her suspicions were the same as mine, that the buyer was basically using each seller, and that she had unfortunately signed her offer, too. She was going to speak with her attorney. I called my seller, and he said he did not want to proceed with the contract unless the buyer decided "which home" he wanted, and to tell the agent to tear up the other contract, or he might have an ethics violation.

The analysis of this situation is indeed disturbing. The buyer has every right to make an offer on as many properties as he wishes to purchase. He also has a built-in "out" with the inspection clause, and can easily trump up an acceptable defect to nullify any contract. But, is his intent legal, if he cannot perform on all his contracts? This story has yet to be completed. When I left my last message with the selling agent, his voicemail said, "Thank you for calling Josh, your ‘honest' Realtor in Northwest Florida. God bless. "

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 almost 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 dients' advantage. She is supported by a team of top buyer specialists. She lists and sells homes, condos and townhomes.

All Rights Reserved. *Sly Short Sale Buyer - A Cautionary Tale* Contact Wendy Rulnick regarding Destin Florida real estate and vicinity. Copyright © 2008 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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Saturday, November 22, 2008

"She No Longer Works Here, May We Help You?"



I work in a small-town environment, on the Emerald Coast of Florida. Everyone knows everyone. Especially the real estate agents. I've been practicing here for about 14 years. I take out numerous top-of-mind awareness ads. My slogans are "It's Wendy... It's Sold!" and "Everyone Knows... It's Wendy!" Believe me, the other real estate agents know who I am.
About two years ago I opened my own real estate company, Rulnick Realty, in Destin Florida. I left a national franchise where I was associated for 12 years. Today I heard from one of my clients, who is not internet savvy and thought I was still at the other company. She called there looking for me. They told her "She doesn't work here." She asked, "Do you know where she is now?" They said, "No, but can we help you?"

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

Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
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 almost 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 dients' advantage. She is supported by a team of top buyer specialists. She lists and sells homes, condos and townhomes.

All Rights Reserved. "She No Longer Works Here, May We Help You?" Contact Wendy Rulnick regarding Destin Florida real estate and vicinity. Copyright © 2008 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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1058 Farmer St., 4.77 Acre Commercial Lot, Crestview FL 32536



1058 Farmer St., 4.77 Acre Commercial Lot, Crestview FL 32536


Wooded lot - almost 5 acres. Located between a day care and concrete company- this lot may have commercial, light industrial and/or multi-family development potential. Okaloosa County GIS website lists RGD with future land use MU (mixed use). There is an old house on the property not being sold as a livable residence, nor for any value. Buyer to do own feasibility study for desired use.

Dimensions Approx 330 x 628 List Price: $195,000

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



Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
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 almost 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 dients' advantage. She is supported by a team of top buyer specialists. She lists and sells homes, condos, lots and townhomes.

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Friday, November 21, 2008

Indian Lake Unit 351, Destin FL Condo



Indian Lake Unit 351, Destin FL Condo
1 BR 1BT 920SF Built 2004 $98,900

Delightfully decorated unit. Wonderful ground floor access with two outside entrances, one from patio and one from large covered exterior hallway. Very open floorplan lives "big". Owner has upgraded with grand farmer sink, top of the line LG washer and dryer with 7 year warranty, added shelving. Electric bills as low as 36-80 per month! Cable t.v. included with two HBO channels! Extra storage closet off patio. Access to pool, fitness room, bbq. Fabulous location for shopping, beach. Short sale subject to seller's mortgage holder's approval. (Note: seller has curtained off some moving boxes to left of living room, covering second doorway). Investors note: Seller willing to rent back for one year.

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 almost 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 dients' advantage. She is supported by a team of top buyer specialists. She lists and sells homes, condos and townhomes.

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Tuesday, November 18, 2008

Destin Real Estate Broker Interviewed By Kiplinger Magazine

Wendy Rulnick has been interviewed by Kiplinger Personal Finance Magazine for an upcoming issue. The article will discuss "avoiding foreclosure" specifically with reference to short sales. Wendy Rulnick, a Destin Florida real estate broker, discussed short sales in depth, including hardships, investment property short sales, second lien holders, effects on military members, challenges in short sale approvals and more. Additionally, two of Rulnick's clients were interviewed by the magazine. The article will appear in the February 2009 issue.

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 almost 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 dients' advantage. She is supported by a team of top buyer specialists. She lists and sells homes, condos and townhomes.

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Sunday, November 16, 2008

Short Sale Seller: "I Just Want OUT!"

I recently listed a Short Sale condo for sale in Destin Florida. The property had been converted from apartments a few years ago. It is a one bedroom, 920 square foot ground floor unit. There are 32 units for sale in the complex. The condo fees are a whopping $225 per month. The last and only recent sale was for $115,000 back in June. My seller, whom I'll call "Ms. Samuel", paid about $170,000 for the property in December 2005. We put it on the market for $98,900. You can see the challenges in selling it.

Anyway, while I was at the seller's home taking photos, we chatted about her financial circumstance. Her lender is Countrywide. She said when she bought the unit, she was making $13,000 per year in income. How is that possible? How can anyone making $13,000 qualify for a purchase of a $170,000 unit, even with a substantial downpayment? Ms. Samuel told me she never got a truth-in-lending statement until the closing, and did not even know how much money she would need to bring until she was at the closing table. This Destin seller also said her mortgage broker never explained what type of loan she was getting. She didn't care about that anymore. She just wants out. She lost one of the two jobs she had, and her current position, in the resort rental industry, has cut her hours by 25%. She hasn't made a mortgage payment in three months.

As I always recommend to my sellers, I asked Ms. Samuel if she tried speaking with Countrywide to find a solution to her high mortgage payment. "Yes," she said, "I track everything. I've called them 17 times. 17 times! I could not get anywhere. I even tried calling Bank of America, since they purchased Countrywide. I am done with it!" She said she knew her options were short sale, deed-in-lieu of foreclosure or foreclosure. I told her that a short sale would be better on her credit in terms of repurchasing another home more quickly than the other options. Ms. Samuel said, "CREDIT? I don't care about my credit. I'm not buying anything again anytime soon. I just want OUT."

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 almost 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 dients' advantage. She is supported by a team of top buyer specialists. She lists and sells homes, condos and townhomes.

All Rights Reserved. *Short Sale Seller: "I Just Want OUT!*" Contact Wendy Rulnick regarding Destin Florida real estate and vicinity. Copyright © 2008 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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Wednesday, November 12, 2008

Conversation with a Citi Negotiator

I've written a few blog posts about Citi short sales in the past. One, Citi Rep Says Market Didn't Cause Price Decline and another Is Citi Mortgage Getting Nice? Well, I've just had a situation regarding a Santa Rosa Beach FL short sale that I must relay.

First Mortgage: Everhome

Second Mortgage: Citi Mortgage

First Offer: Buyer walked after three months

Second Offer: Buyer gets relocated to another state last week!

Status: Citi had approved the second offer to close within 30 days and Everhome issued approval DAY OF buyer's withdrawal

Update: Wendy gets replacement contract from new buyer, exact terms, within 3 days

Everhome: Delighted! Seeking investor approval for new buyer

Citi: New Rep, "Sassia", was assigned to replace previous negotiator

Wendy: Leaves upbeat message on Sassia's voicemail: "Hello, this is Wendy Rulnick, authorized on account 7878722, borrower- Smith. Buyer had out-of-state job offer last week, withdrew. I have an identical substitute offer, no changes in terms, ready to close within 30 days. I'll fax you the replacement contract and HUD."

Sassia: Calls and leaves a message on Wendy's voicemail: "Please call me reference borrower Smith."

Wendy: Calls Sassia back. Gets voicemail. Leaves identical detailed message regarding substitute offer. Finally Sassia calls back and gets Wendy live.

Sassia: "What is going on with Smith?"

Wendy: Relays exact detailed message that was left twice on her voicemail.

Sassia: "This has been going on a long time, since July. Two buyers have walked. Why?"

Wendy: Repeats exact information about job relocation of buyer.

Sassia: "Don't bother faxing me anything! I don't know what the previous negotiator did, I do things differently. I will need approval in writing from the first within 48 hours or I will CLOSE THE FILE."

Wendy: "I am sure the first is imminently getting a replacement approval. It might take a few more days."

Sassia: "I will give you until Friday. I have too many files on my desk. If I don't have the approval by then, you will have to start the process all over. Good-bye."

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 almost 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 dients' advantage. She is supported by a team of top buyer specialists. She lists and sells homes, condos and townhomes.

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Tuesday, November 11, 2008

Sundestin Condo Unit 706, Destin FL Condo For Sale


Sundestin Condo for Sale Unit 706
Property Address:1040 Hwy 98 E, #706Destin, FL 32541

Beds: 1
Baths: 1.5
Sqft: 719
Year Built: 1984

$299,900
It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.

Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
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 almost 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 dients' advantage. She is supported by a team of top buyer specialists. She lists and sells homes, condos and townhomes.

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Saturday, November 8, 2008

1113 Rhonda Dr., Niceville FL - Bring Paint!



Roll up your sleeves! Needs carpet, paint inside and out, trim work, possible wood rot fix and attention to yard. Spacious layout includes family room plus living room. Workshop or office to rear of garage. Plenty of storage, under stairs and with closets. Oversized kitchen with cathedralled dining area. Interesting roof lines, angles. Short Sale subject to seller's mortgage holder's approval.
Built 1989 2203 SF 4Br 2.5 BT
$199,900
It's Wendy!
Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.

Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
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 almost 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 dients' advantage. She is supported by a team of top buyer specialists. She lists and sells homes, condos and townhomes.

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Friday, November 7, 2008

Why I Negotiate My Own Short Sales

In the last couple of days I've been approached by two Destin FL sellers who wish to do Short Sales. After explaining the Short Sale process, I explained what items I would need. When I got to "financial worksheet" etc. I was stopped in my tracks. These sellers told me that their attorney said not to turn over any information, that he would be handling the short sale negotiations. I immediately told the sellers that I will only take the listing if I handle the entire transaction including bank negotiations. Why?

To take on a listing in this market, and any market, involves taking a risk. That is, a substantial business investment covering the cost "doing" business, which includes time, advertising, payroll, insurance, licensing, internet, phone, rent, etc. etc.. In a normal market, the calculated risk of the business investment is that the listing will most likely sell, and the burden of expenses will reimbursed, plus some business profit. With a Short Sale, the risk is much higher. Why? The Short Sale lender may not approve the sale. And the time investment to reap a return may be five times longer than a normal sale, reducing any profit if the sale is approved. To lessen the key business risk of an unapproved Short Sale-- both for me and my seller, I must control the Short Sale from start to finish. Why? Because I can:

Assemble excellent lender packages personally reviewed by me
Directly and immediately respond to negotiators' calls and emails
Immediately provide well-written market narratives and critical analyses proving price
Ensure that appraisers and bank BPO agents understand the subject property's challenges
Immediately provide additional documentation required by the lender
Keep the parties well-informed and in the deal
Document all tasks in detail for transaction-saving reference
Provide creative solutions to negotiators' demands such as promissory notes and cash contributions
Use twenty years of negotiations skills to ensure success


Can a third party do all this? Perhaps. But I know I can. If I pass along the critical Short Sale negotiation stage to a third party, my company's business success is entrusted to others, as is my seller's chance of approval.

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 almost 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 dients' advantage. She is supported by a team of top buyer specialists. She lists and sells homes, condos and townhomes.

All Rights Reserved. *Why I Negotiate My Own Short Sales* Contact Wendy Rulnick regarding Destin Florida real estate and vicinity. Copyright © 2008 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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Subscribe to It's Wendy's Blog by Email

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Thursday, November 6, 2008

250 Limestone Cir, Crestview FL Property For Sale


Nice, neat, newer! Open floorplan, crisp condition. Wonderful breakfast bar, cathedral ceiling. Maple cabinets, large pantry. Master features garden tub, separate shower. Large walk-in closet, too! Short sale. $174,900

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, Freeport, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field. Wendy Rulnick, Broker and Realtor, has been selling real estate for almost 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 dients’ advantage. She is supported by a team of top buyer specialists. She lists and sells homes, condos and townhomes.

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Wednesday, November 5, 2008

Santa Rosa Beach FL Home For Sale

76 Harborview Dr. E, Santa Rosa Beach FL

Oooohhh Ahhhhh Ooooh! This is a fine Santa Rosa Beach FL home in the Mack Bayou area. Wood floors, 9′ high ceilings on both first and second floor, solid surface counters. Open floorplan, porches add to cottage airs. Impeccably kept and decorated. Fireplace. Wonderful master bedroom with sitting area. Second floor balcony accessed by two bedrooms. This is not a cookie-cutter home, but an elegant residence! More pluses: plentiful under-stair storage, playhouse in fenced yard, security system. Short Sale subject to seller’s mortgage holder’s approval. $199,900


Wendy Rulnick, Broker, CRP, CRS, GRI, ABR Rulnick Realty, Inc.
Search Destin Florida real estate and vicinity.
Short Sale Pre Foreclosure Help.


Wendy Rulnick has been selling real estate for almost 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 agents. Wendy 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 sells houses, condos, townhomes and lots.


Call Wendy Rulnick 850-650-7883 ext 204
email itswendy@rulnickrealty.com

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Tuesday, November 4, 2008

Washington Mutual Won't Waiver

I recently had a Fort Walton Beach FL Short Sale approved by Washington Mutual (WAMU). In this case, WAMU was the junior lien, the first was Citi Mortgage. There was enough from the sale proceeds to satisfy Citi's mortgage balance, so the only approval necessary was from WAMU. As with all Short Sales, we know to provide a preliminary settlement statement (HUD) with the package to the seller's lender. This is a guide upon which the lender bases its approval. As a rule and for the sake being conservative, I instruct the title agent preparing the HUD to overestimate the prorations. Why? In Florida, property taxes are paid one year in arrears, so there is typically a credit from seller to buyer at closing. (In some other states, property taxes are paid in advance.) So in order to prepare for a long-delayed lender approval, I may use a closing date four to five months out. The settlement statement will show the seller crediting a higher amount of taxes to the buyer. That way there won't be a last-minute problem with proceeds to the Short Sale lender being too low to meet the amount on the approval letter. They will usually get more than their stated approval amount using this method. The same technique applies to condo or association fees, or other prorations. If there is a problem meeting the exact approval amount because prorations are off, normally Short Sale lenders understand, and will issue a revised approval letter with adjusted figures. I don't like taking the risk, so I choose to overestimate.

Now, back to Washington Mutual. In the Fort Walton Beach Short Sale, WAMU asked for the payoff amount from Citi (the first) to be used exactly in the preliminary HUD. Unfortunately, the Law Office of David Stern, who was handling the foreclosure on this Citi mortgage, would only provide a payoff for a month. WAMU issued its approval letter about two weeks after receiving the payoff. The buyer took four more weeks to close. The payoff to Citi increased- of course. The HUD was redone prior to closing, showing a now-lesser amount to WAMU. WAMU did not care. They were immovable. They refused to adjust their approval amount even with proof of the new figure required to satisfy the first mortgage. Guess who paid the difference? I lost some respect for WAMU that day.

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

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Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204
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Wendy Rulnick specializes in real estate sales, short sales, traditional sales on Emerald Coast of Florida: Destin 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 almost 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 dients' advantage. She is supported by a team of top buyer specialists. She lists and sells homes, condos and townhomes.

All Rights Reserved. *Washington Mutual Won't Waiver* Contact Wendy Rulnick regarding Destin Florida real estate and vicinity. Copyright © 2008 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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