Thursday, February 26, 2009

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


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

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

Dear Mr. Chairman,

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

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

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

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

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

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

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

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

Respectfully,
Jason M. Trew

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

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




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Wednesday, February 25, 2009

Agent Recommends Destin Real Estate Blog

Hi Wendy.

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

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

Ronda Densford, REALTOR®Magnolia Properties

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

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

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

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Tuesday, February 24, 2009

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


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

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

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

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

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

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

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

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

Wendy Rulnick specializes in short sales and Destin real estate and vicinity on the Emerald Coast of Florida. All Rights Reserved. *Homeowner Affordability and Stability Plan - How Will It Affect Short Sales?* Contact Wendy Rulnick regarding Destin Florida real estate and vicinity. Copyright © 2009 by Wendy Rulnick.
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Saturday, February 21, 2009

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.

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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.



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.

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Wednesday, February 18, 2009

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.

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Saturday, February 14, 2009

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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Friday, February 13, 2009

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

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Thursday, February 12, 2009

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.

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.

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Tuesday, February 10, 2009

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



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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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Sunday, February 8, 2009

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

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Friday, February 6, 2009

Bulletin: Good news for the Emerald Coast of Florida. The Air Force has just announced the F-35 Joint Strike Fighter program will be brought to Eglin Air Force Base. Eglin AFB is the largest contributor to the economy in Northwest Florida, and the biggest military institution in the Department of Defense. The decision to bring in 59 new aircraft by 2015 will add 10,000 military members and families will be a boost to the community. The surrounding towns impacted by this new growth include Fort Walton Beach, Niceville, Crestview, Navarre, Destin, Santa Rosa Beach and vicinity.

Here is the release from Major Generald David Eisdaune:

From: Eidsaune, David W MajGen USAF AAC AAC/CC
Sent: Friday, February 06, 2009 2:03 PM

I am proud to announce that the Air Force has signed the Initial Record of Decision (ROD) to bring the F-35 Joint Strike Fighter (JSF) to Eglin AFB. The announcement allows the delivery of 59 aircraft between March 2010 and 2015. This decision allows for construction of facilities for the JSF Initial Joint Training Site, which includes instructor pilots, operations and maintenance support personnel and provides an initial capability for one squadron each of F-35s for the Air Force, Navy and Marine Corps. A future Supplemental Environmental Impact Statement (SEIS) will study more fully developed noise mitigation options and study operational alternatives to determine the potential beddown for an additional 48 F-35 aircraft at Eglin. The community will still see an increase of approximately 10,000 military and dependent personnel with the 7th Special Forces Group and the F-35 Training Center. Military construction is expected to bring $700 million to the local area. A copy of the ROD is available on the Eglin web site: http://www.eglin.af.mil/
"Gen E"

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 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.

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Wednesday, February 4, 2009

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.



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.

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Monday, February 2, 2009

Crestview Florida Short Sale - 610 Adams Drive


610 Adams Drive, Crestview FL
Brick home in Crestview Florida on superb lot in peaceful setting. Generous floor plan with huge living room! Neat layout highlighted by hardwood floors (one room not completed). Built-in shelving, brick wood-burning fireplace, laundry room with basin. Very usable basement accessed through garage. Oversized rear deck. Side-entry garage. Oven/range not fully functional per seller disclosure. Short sale subject to seller's mortgage holder's approval. Offered at $187,900.



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


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


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


Wendy Rulnick specializes in 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.

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