Wednesday, October 28, 2009

"Day in the Life" of a Destin Short Sale Agent


Just one of my normal days selling real estate and short sales in Destin, Florida...

Buyer agent emails me to say buyer is walking if no response from Niceville short sale lender this week.

Another buyer agent calls me to say buyer is walking by October 31 if no approval given on Destin short sale condo.

Another buyer agent calls and emails me three times asking when the approved Bank of America Santa Rosa Beach short sale can close.

Another buyer agent calls to ask if my seller will put $7000 in escrow for "as is" short sale for roof repair, HUH?

Bank of America emails me asking for all new financials and a revised settlement statement within two days, or they will close the file on a Sandestin short sale.

Two days before closing on Destin short sale condo, I am trying to obtain junior lien approval letter from Suntrust Bank. They have been promising the letter for a month.

Seller emails me that an agent left the door unlocked after showing his property. Seller is upset.

Buyer agent for Fort Walton Beach short sale calls to ask for status on approval.
On hold 40 minutes with PHH for Niceville Florida short sale. I ask for supervisor of supervisor, as this short sale has been in process seven months. I finally have to hang up after hold music gives me a headache.

Checking on another Suntrust approval, I am told no BPO or appraisal has been ordered after 60 days. I ask "When" is it going to be ordered. The rep tells me she would be a "rich woman" if she could answer that question every time it is asked.

Checking on Aurora Loan Services short sale. They say they have moved back all approval estimates by another 30 days.

I let Navarre short sale seller know we cannot sell her property if we cannot show it. Tenant-occupied and every showing is denied.

My computer starts typing on its own, repeating the same character ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, for ten minutes. This is the third time in two weeks. I am shut down! I replace the mouse and it starts working again.

I create a ten-point counter-offer addendum for Destin short sale seller to respond to an offer.

Another buyer agent emails me buyer is walking if my Santa Rosa Beach short sale seller won't agree to his bank's demands for deficiency balance to be paid.

Good email- Boeing relocation for Destin buyer (wow, non-short sale work)

Get pre-approval letter for buyer for Fort Walton Beach commercial property. Letter is dated 1999. My seller is concerned.

At the end of the day, I tell my husband I am exhausted, as it was a bit stressful. He says, "You wouldn’t have it any other way."

He is right.


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

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Tuesday, October 27, 2009

Do You Deliver "Knock Your Socks Off Service"?





You walk into a place of business. The receptionist does not look up. She is on the phone. No matter what you do, you get no eye contact. You stomp around and she finally hangs up. No smile. "How can I help you?", she spurts out. You tell her you are there for an appointment. "Just a minute", she instructs you. After ten minutes, you are ushered in.
Has that ever happened to you? Or worse? How often do you check the "courtesy" systems for your own business? Here is a refresher:

1. Answer the phone after two to three rings. Anything more, and they might wonder if you are still in business.
2. When taking a transferred call, don't make the party repeat everything they already said to the first person!
3. Ask, "May I place you on hold for a moment?"
4. When you telephone someone, don't just start into your conversation. Ask if they have time to take your call.
5. When emailing, repeat the subject line in the content of your email. Many people gloss over the subject line, and they might not realize what you are talking about.!
6. Are you on time? If you are going to be late, do you call, even it is only five minutes?
7. Do you make eye contact when they enter your office or during a conversation?
8. Do you address people by name, but not so much that it sounds contrived?
9. Do you thank people for their time, even a bank negotiator?
10. Gentlemen, do you open the door for your female customer?
11. When dealing with an angry client, after assisting, do you ask "Is there anything else I may help you with?"
12. If you cannot give someone your full attention on the phone, do you ask if you can call them back so you can?
13. If you cannot help someone, do you refer them to someone who can?
14. Do you tell the truth? For example, it may be more than a minute wait!
15. Do you respect others?
16. When you make a mistake, do you confess, apologize and say you will correct the problem and do better?
17. Finally, do you treat everyone, not just your buyers and sellers, but vendors, agents, repair persons, employees, short sale negotiators, salespeople, etc., like your best customer?

Some of these ideas I've learned over the years. Some I've found in my favorite customer service book, “Delivering Knock Your Socks Off Service" by Kristin Anderson and Ron Zemke. I highly recommend you read it and perhaps you might elevate your business.
Thank you for your time.


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

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Friday, October 23, 2009

Will Destin Short Sale Lender "Pay" For The Privilege and Make Zero Dollars on Short Sale


This is a first for me. As a short sale listing agent in Destin Florida, I have a parcel of land for sale in a ritzy golf course community. It is in a newer gated neighborhood where building lots used to fetch over $200,000. When I took the short sale listing at $90,000, it seemed realistic. But the lot market near Destin has steadily declined, fluctuating between a 3 and 15 year inventory in the past two years. That means it would take at least three years to sell out all the lots for sale at the current rate of sales. A normal market is six to seven months inventory.

After a year and a continued down market, we eventually lowered the price to $23,000. When I got a contract this week the offer was for $19,000. The most recent comparable sale, a foreclosure, had commanded a whopping $18,000. So the offer was fair.

The problem came after I ordered the HUD settlement statement to provide the short sale lender, Federal Trust Bank. Of course, I had done preliminary title work a year ago, but things had changed, including the price by 75%. Not only were there past due taxes of $12,000, there were thousands of dollars in unpaid homeowner association fees. In fact, the closing costs on the HUD would pay zero to the short sale lender, and would require cash to close of several thousand dollars! You see the closing costs were well over the sale price!

The seller has no money to bring to closing and is in unfortunate circumstances. The buyer will not. The short sale lender probably will not pay for the privilege of allowing the short sale to get not a single dollar.


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

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Tuesday, October 20, 2009

Do You Tell The Short Sale Lender "Buyer Walked"?


Karla Leahy started an interesting discussion on http://www.shortsalesuperstars.com/. She asked "Do you inform the short sale lender when you no longer have an offer?"

From what I've seen the thought process behind not divulging the buyer walked is:

1. The lender will complete an appraisal or BPO that will speed up the next approval
2. The seller's pre-qualification may be completed and ready for the next attempt
3. With some lenders, you can sneak in a substitute buyer

Bottom line, it "saves time" for the next buyer, the one you hope closes.
BUT-- IS IT RIGHT TO NOT DISCLOSE THE BUYER WALKED? Why should the short sale system be clogged because you are trying to speed up your next offer? Is it right to allow the lender to continue to work on an approval when there is no longer a contract? Sometimes there is another twist on trying to speed up an approval. "Fake" or "starter" offers are sent in to the lenders to get an appraisal ordered, when the "buyer" has no intention of closing. The "buyer" might even be the real estate agent.

Some of the lenders have a few hundred thousand offers in process. HOW MANY ARE LEGITIMATE OFFERS? The "real" buyers (and the sellers) suffer through longer wait times because others have tried to game the system, "dead" deals are being processed or offers with no hope for approval have been submitted. If lenders were only processing contracts that could actually close, all short sales would be speeded up, right?

So, I ask "Would YOU call the short sale lender and tell them to stop working on the sale if your buyer walked?"


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

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Fairways at Seascape, 9F, Destin Florida Short Sale


This roomy three-bedroom villa at Fairways at Seascape in Destin Florida feels like a "home". Great views of golf course, rolling grounds, little lake in the fields. Floorplan takes advantage of the outdoors with two sets of sliders to covered patio and your old-fashioned swing. Mirrored dining adds to expansiveness. Private bedrooms. Quiet. This unit is a minute to tennis, pool, hot tub. Walk across Scenic 98 to Gulf of Mexico beach, Whale's Tail restaurant! Internet included as part of association fee. This Seascape unit is a Destin short sale.Offered at $229,900



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

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Thursday, October 15, 2009

Rulnick Realty Welcomes New Team Members to Destin Real Estate Office


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

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

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

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


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

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Tuesday, October 13, 2009

Is Your Data Safe? How I Almost Lost My Entire Database



This Monday morning started out well. I was sorting through emails and structuring my week. One of my assistant's was working on improving our short sale system and was going to add a field to our ACT database. ACT is excellent contact managment software, where one can completely customize all fields, keep detailed notes, and manage thousands of entries. ACT can be networked with multiple users accessing the information from different computers. In my custom set-up, I have fields such as short sale "approval deadline", "loan numbers", "negotiator name", "payoff" and dozens of critical fields. I have hundreds of notes on phone calls and actions from time of short sale submission through approval. I also have records of every buyer and seller I've ever worked with since I got the system. There are almost 3000 records in my database.
This morning I asked my assistant to add a field referencing title work completion for each short sale. We do this as a matter of course when getting a new short sale listing, but I wanted a more organized location to check it off. She needed authority as "administrator" to modify the layout so I changed her authority level. Well, something went seriously wrong.
My assistant buzzed me and said she could not change the records and ACT closed down. I tried to log in and the software crashed. We tried from different computers, same result. I shut down and restarted twice. Same result. We could not get into the database. Basically, without ACT we are out of business. No records, no telephone numbers, no contacts, no history and no information. All was lost. This was not a good Monday morning.
Thankfully, I had backed up the ACT database on Friday. I use an external hard drive and Acronis True Image software for disaster recovery. I restored the database with Friday's data and I am back in business. If you are not backing up your data you are making a serious mistake. Acronis can also back up exact disk images should your computer or data be destroyed. Backing up to an external hard drive makes sense if you are in an area with hurricane evacuations or otherwise need to physically remove the information from your office.I used to back up when I remembered to do it.
Now I have a new ACT reminder that pops up. You know what is says? "Back up data daily!".


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

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Sunday, October 11, 2009

D.R. Horton New Construction Home Sold - Rolling Ridge, Crestview Florida


605 Rowan Circle, Rolling Ridge, Crestview Florida

Wendy Rulnick just sold this gorgeous new home in the D.R. Horton subdvision, Rolling Ridge in Crestview, Florida. The floor plan is wide open with a huge kitchen with columns facing the living room. There is formal dining room with wood floors. The master bedroom is oversized and luxurious. With this D.R. Horton home plan in Crestview, you can pick your finishes, including counter top, flooring, cabinets and more. Rolling Ridge is about 5 minutes south of I-10 and an quick commute to Eglin Air Force Base. Fast routes to Destin shopping and beaches, too.


This new Crestview home sold for $212,900 with builder incentives and much closing costs paid. VA financing is available for low or potentially no-cost closing to move in!


When buying new construction or any home in Crestview Florida, consider hiring your own experienced real estate agent.


Review my guide to buying new construction and call Wendy Rulnick at 850-259-0422 for representation.



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

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110 Cabana Trail, Santa Rosa Beach FL - Short Sale in Lakeside at Blue Mountain Beach


This refined Santa Rosa Beach Florida short sale home, adjacent to Redfish Village in the Lakeside at Blue Mountain Beach, is a wonderful design by a renowned architect. The first floor living area has warm wood flooring and old-fashioned built-ins. The breakfast bar is a mile-long custom slab of black granite with furniture spindle supports. Kitchen cooking beckons the gourmand in you with Jennaire stove and rows of bead-board cabinets, many open to display your wares. There is a built-in wine cuvee ready for your cabernets.

You can either cozy up to the fireplace in the living room or share your home with a grand party in the totally open living space. This home features two master suites, one upstairs and one down, both with exquisite bathrooms with upgraded fixtures and separate tubs. Upstairs also features a private sitting room with wetbar and refrigerator. Great location in Santa Rosa Beach-- a few steps to the new upscale Redfish Village with direct walkover access. Two air conditioning systems and a Rinnai hot water heater.This special Santa Rosa Beach short sale is close to Gulf of Mexico beaches, great shopping in Seaside, Watercolor, Rosemary Beach and Destin!
Offered at $549,900


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

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Another Destin Short Sale Approved- Laurel Grove

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

Lienholder: Wells Fargo

Mortgage Balance: $560,000

Sale Price: $399,000

Approval Time: 90 Days

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


It's Wendy!
Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call toll-free 1-877-487-9639 or local 850-650-7883 ext 204
Email Wendy: itswendy@rulnickrealty.com

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Wednesday, October 7, 2009

Best Destin Short Sale - And It Never Happened




The Destin Florida couple called me after they had run out of options. The wife’s income had been cut in half, and the husband had been laid off from two different jobs in the past year. They had three children-- and their dream home. The house was custom built, and they had put a lot of thought into the details. The husband showed off his hand-hewn railings, the Palladian windows, the unique floorplan. The wife was proud of how spotless it was, despite the three teenagers and dog. It was breaking their hearts to come to this.
They were three months behind on their mortgage. No job in site. They had spotless credit. This was the point of giving in. Their bank would make no arrangements to help them out. They had no choice. The only option they found was to do a short sale. The couple could no longer stay in their beautiful home, and were going to move out of state to seek work. Florida has one of the highest unemployment rates in the country, at almost 11%.
I listed their Destin home as a short sale. Immediately the calls came from agents with buyers eager to see this stunning property. For two months, we marketed it and entertained showings. Each time the couple was eager for feedback. "How can we make it nicer?" they always asked.
Finally, the news came. I had to take the home off the market. Forget about the short sale! The husband got a job! It paid more than his previous job! They would be able to catch up on their payments and keep their house. I was excited for them and happily withdrew the home for sale.
Sadly, this is the first such story I have had since the Destin short sale market began. Most of my sellers have had to move out of state looking for work. Perhaps, though, this is the start of a new trend, and more homeowners will be able to find jobs and keep their property. I will be at their service either way.


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

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Magnolia Bay #8594, Sandestin Florida Short Sale


Serene, sedate and luxurious... This Magnolia Bay townhome is a Sandestin short sale. It feels like a private residence. Note the limestone floors, mahogany entry door, high ceilings and walls of windows. Overlooking a small lake and the Baytowne golf course, this unit is the perfect hideaway as a second home or a great rental. Granite double-width breakfast bar in the kitchen, tile backsplash, recessed lighting. The rear covered porch feels tranquil and cool. Master bath has a deep soaking tub and gorgeously tiled oversized shower. This Sandestin short sale home is simple and stylish. Easy walk to neighborhood pool, Village of Baytowne Wharf. Sandestin has beach access. Join tennis, beach club, golf, marina, gym!

Offered at $479,900


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

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14 Choctawhatchee Dr., Fort Walton Beach Short Sale


Quirky Fun! This eclectic Fort Walton Beach short sale, in Elliotts Point at 14 Choctawhatchee Dr. is whimsically decorated and offers nooks to explore, flowing spaces, skylights, wood floors and more. Kitchen remodeled. Angled on a corner lot, your home has an apartment or mother-in-law suite to the right. Huge rear covered porch. Garage was converted for workshop, you could reconvert back. Needs attention to yard, but graced by mature trees. Close to public boat ramp and Choctawhatchee Bay! Short drive to Eglin AFB, Hurlburt Field and the Gulf of Mexico. This is a special Fort Walton Beach Florida short sale home, make it yours.
Offered at $119,900.


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

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Monday, October 5, 2009

10 Tips for Buying New Construction on the Emerald Coast

Are you considering building a new home in Crestview, Freeport, Navarre, Rosemary Beach, Watercolor or Niceville Florida? Consider these questions in your search for that fantastic home of your dreams.
1. Is the builder licensed? This may seem like a basic assumption, but alway verify his current active license and possible compaints . Go to the Florida Division of Business and Professional Reguation website and you can check. Even if you've had a friend use the contractor, he might not be legitimate. If the builder has already commenced work, go to the online Clerk of Court records in your county to see if permits were pulled in his name. You may research Okaloosa County, Santa Rosa County or Walton County records.
2. Will you be able to see other homes the builder has completed? If your contractor is a custom-home builder, he should be happy to send you to see a past customer's house to view his workmanship. Talk to the customer, too, and find out what his experience was with the builder and during construction. That way, you may have more reasonable expectations about the building process.
3. Will you be able to review the contract before signing? Some national builders will not release their purchase and sale agreement for you to take home to review. They will state it is not their policy. Insist on it, especially if you are not comfortable turning over a deposit and signing under pressure in the on-site salesperson's office.
4. Does your building plan comply with association restrictions or covenants? Do not assume that the builder and your local building inspector will check your covenants for you. The building inspector may only check for compliance with building codes. Don’t risk a lawsuit from the community association because you have installed the wrong roof type, used unapproved materials, built an unacceptable style of home, etc. You could be sued, and it could be costly.
5. Does the builder offer a warranty? The State of Florida does not require the builder to warrant their work for any period of time. Check your state laws. Ask if the builder will provide a policy for defects. An example of a reputable warranty company is Bonded Builders. Coverage will be for up to ten years for major structural items, which is transferable to a new buyer of your home.
6. Who will be your main point of contact during construction? Will it be the salesperson, the construction supervisor or the builder? Find out how communication works with your contractor. If it is a large national company, with many layers of management, be proactive and follow up with any questions, don’t assume your issue will be taken care of. Remember, if the builder has a 100 lot subdivision and dozens of homes under construction, information can get lost that might affect the completion of your house. I know a couple who recently bought a new home from a national builder in Crestview Florida. The home needed a variance because it was built over the setback line. The variance would take 30 days before it was approved. The builder did not notify the buyers until four days before the closing that there would be a delay because of the variance. Why? It seems that no one at the company was responsible for the "overall" construction picture.
7. I don't need a home inspection on a new home, right? Not necessarily. Great builders are not afraid of home inspectors. Home inspectors may be the objective third party who will guide you through to reasonable expectations from the builder.
8. Don't expect the house to be "perfect" at your punch-list walk-through. Homes are built by human hands. Expect dozens of items needing correction, such as paint, scuffs, trim work, landscaping, etc. Your builder should have a system to finish the home to your complete satisfaction, however, in writing.
9. When should I worry? Red flags are when the contractor asks you for more money outside the terms of your contract. Certainly, if it is a "change" during construction, you might have to pay for it at the time depending on your agreement. But if the request is for moneys to "continue" work that is not specified in your contract, seek legal counsel. Also, if the builder stops construction without a reasonable explanation for days or even weeks, you may need an attorney.Bold
10. Should I use my own Realtor? If it is a national builder represented by an on-site salesperson, you should strongly consider bringing in your own Emerald Coast real estate agent. On-site salespeople can be great and knowledgeable, but they represent the builder, and may not bring up any of the items in this list.

Finally, buying and building a new home in Crestview, Freeport, Navarre, Rosemary Beach, Watercolor or Niceville Florida is very exciting. Expectations are high, and emotions follow, because new construction can fulfill your lifetime dreams. Educate yourself, research, and interview your builder. And consider hiring an experienced real estate agent to guide you along the way.


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



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Fort Walton Beach Car Wash for Sale






Looking for a Fort Walton Beach business opportunity? This fully automated car wash, called "Water Waves" is located in a high profile area, just 3 miles west of Hurlburt Field on busy Highway 98. It includes 1 Automatic Bay, 4 Self Serve Bays, 5 Vacuum Stations and Numerous Vending Machines for car cleaning supplies. Truly a turn key opportunity with land, building, equipment and business located on approximately 1/2 acre. According to DOT maps the traffic count is approximately 33,000 per day. This business is in full operation at this time. This is an excellent commercial offering in Fort Walton Beach, Florida, and a great price to get your business venture going.
Offered at $599,000.


It's Wendy!
Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call toll-free 1-877-487-9639 or local 850-650-7883 ext 204

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Saturday, October 3, 2009

Rulnick Realty Welcomes New Destin Real Estate Agent



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

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

Office: 850-650-7883 X 203 Cell phone: 850-687-0330
Rulnick Realty is located at 12889 Emerald Coast Parkway, Suite 107-A, Destin Florida, just 2.5 miles east of Destin Commons on Highway 98.


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

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Harbor Front Condo- Destin Short Sale






Want one of the best views on Destin harbor? With a boat slip? This Destin short sale condo is one of the most spectacular settings on the water. Wide open floor plan all about the harbor view. Large kitchen with long breakfast bar, solid surface counters. Spacious master bedroom. Project has pool, work out facility. This Destin short sale condo in Harbor Plantation is located on Highway 98. It is on the first floor unit for easy access set high over the water. Assigned boat slip approximately 13x30, may take a 40' boat. Central Destin location accessible to shopping, the Destin bridge, Crab Island and all the fun restaurants like A.J.'s, the Lucky Snapper, more!

Offered at $417,900.


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

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Thursday, October 1, 2009

HAP is Back! Eglin PCS and Hurlburt Field PCS- New Info!


Are you an airman PCSing from Eglin AFB or Hurlburt Field? Are you upside down in your mortgage and owe more than your current property value? If so, you may know I have been checking the HAP website daily for the last several months. As I have previously reported, the site was taken down at one point, and all information was removed.


Today, the site has changed and information is posted that may be useful to relocating military who might qualify for the government assistance to cover some of the loss.


1. Qualifications include: PCSing more than 50 miles, having purchased your home or entered into a contract to purchase prior to July 1, 2006, you lived there and it was your primary residence, and your orders were between February 1 2006 through September 30, 2012.
2. Your home must have declined at least 10% in value. (That should not be in problem in the Eglin AFB and Hurlburt Field market).
3. Assistance will initially be emphasized to those who received orders through December 2009, with a report date no later than February 28, 2010.
4. HAP benefits are based on the amount you originally purchased the property for (prior fair market value PFMV verified by your settlement statement). The full amount of your negative value will not be reimbursed.
5. The site claims the government will provide benefits within 60 to 90 days of receiving your documents. I would use caution here, as that claim was also made several months ago and no HAP benefits have yet been paid to my knowledge.
6. You may be reimbursed your mortgage interest, tax and insurance premiums you paid from the time the Army Corps of Engineers receives your application.
7. The site states that no specific dollar amounts of loss reimbursement are addressed and HAP advises you to contact your local district CoE office. For Eglin AFB, Hurlburt Field and Duke Field, please contact the Army Corps of Engineers Savannah District. However, elsewhere on its site, HAP mentions that up to 95% of your purchase price minus your sale price plus closing costs may be your benefit.
8. The government claims they will make up "liabilities" to servicemembers from a foreclosure, but not past due payments or junior liens you obtained after buying the property.
9. Some of your closing costs will be paid for, including title services and Realtor fees.
10. The government recommends you use a Realtor to sell your home and states that using a Realtor will may increase your chances of finding a buyer.
11. You are required to market your home for at least 120 days. Your initial list price should be obtained by the Corps of Engineers automated value model for at least 30 days.
12. Your benefits will be taxable as income to you.
13. Caution: Per the Realtor Guide , you or your Realtor must maintain records of price changes, showings, offers, etc to demonstrate that the house was not sold at too low a price. The CoE office will obtain an appraisal to verify the price was within market range. If the sales price is considered too low, no benefits will be paid.
14. There are maximum price range limits for assistance. In Okaloosa, Walton and Santa Rosa counties the purchase price limit for benefits is $417,000.



As soon as you know you have orders from Eglin AFB or Hurlburt Field, apply for assistance immediately.


Analysis and questions to follow. I would like to hear from you, our local servicemembers.
If we can help with your move, call me at 850-650-7883 ext 204



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

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