Tuesday, March 27, 2012

Open Letter to Bank of America - New Authorization Form Impractical

As a small brokerage, I have significant concerns about new Bank of America Third Party Authorization Form. My concerns about the new authorization are from a practical standpoint.  Specifically, only authorizing a licensed real estate agent (or attorney) on a file is a logistical challenge.  Here are my concerns from a practical standpoint:
1. As the only authorized agent, if only I can speak to or email Bank of America on my seller’s behalf, I have to be “available” and dedicated to phone or email without interruption by other business tasks or personal matters. If I were unavailable for any period of time, I might miss an instruction from Bank of America or fail to respond in a timely manner, since my paid employee who is my short sale administrator would be unableto respond in my absence
2.  My employee who acts as short sale assistant will not be able to handle routine housekeeping or administrative matters via telephone (or email) with Bank of America.  Examples: Equator reason for rejection: other,   Question over specific paperwork to upload, problem with appraiser access, fax issues, negotiator calling and cannot leave a message if I am not physically available, etc.
3.  Should I be the only party authorized to do any type of communication on my seller’s behalf, I would have to change my business practices: I could never be out sick, I could not go on vacation, I could not be on other appointments that take me away from a telephone or email for a day,      I would have to become an administrator, which is less productive activity, than my skill set as manager
If I were unavailable, and my employee could not handle a routine matter, the borrower’s file will not be processed in a timely manner, in fact, the borrower’s file could be closed, and potentially, foreclosed on.  As a small brokerage, with paid employees on staff, I cannot bring yet another party into my team, for example, asking another licensed real estate agent to “cover” for me to handle routine items or should I become ill or on vacation. Specializing in short sales requires a very tight budget and sometimes results in a negative business profit margin (e.g. they take two to three times longer than a traditional sale, and entail five times the administrative, phone, email, and fax effort).  My concerns, and more, are being shared in forums throughout the country.  In the past, I have been a big supporter of Bank of America, as you can see from a recent blog post, Bank of America of America Setting the Industry Standard.
This strict authorization, with no concern for practical matters, will be a severe impediment to the ability to be a successful small business owner and to aid to those facing foreclosure.
There are other concerns about the new third party authorization that I am not addressing here, regarding the authorized party having knowledge of what Bank of America or the investor "might" have decided had "other", unnamed information been known.  I'll leave that for another post.
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, March 26, 2012

Destin Commercial Office for Sale - Miramar Plaza 32550

Miramar Plaza 
Beautiful two story Destin Florida office for sale in Miramar Plaza, architect-designed. Located on Hwy 98 near between Destin Commons and Sandestin, in Miramar Beach.  Commerical unit includes six generous offices that can accommodate two or more each, large conference room, kitchen, copier area and lobby. Each office has window to hall for a spacious feel. Lobby has sky-high ceiling for a dramatic effect and granite reception counter, travertine floors. Bonus - huge storage room. Unit was built out in 2006. Fantastic location with strong association, a few blocks from the beach. Association dues include water. Unit size approximately 2100 square feet.
Miramar Plaza is a strip mall with a mix of retail, office and restaurants.
12889 Emerald Coast Pkwy Ste 107-A, Miramar Plaza, Destin Florida for sale - $319,900
Miramar Beach officeMiramar Beach office spaceDestin office for saleDestin medical officeDestin office for saleMiramar Beach officeMiramar Beach office Miramar Beach office
iIt's Wendy!
Wendy Rulnick, Rulnick Realty, Inc.  Broker/Owner
Call toll-free 1-877-487-9639 or local 850-650-7883 ext 204
Email Wendy: itswendy@rulnickrealty.com

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4517 Olde Plantation Pl, Kelly Plantation, Destin Florida - Short Sale

Kelly Plantation short sales
Elegant Kelly Plantation short sale home in Destin Florida with three car garage, tile roof and privacy, overlooking nature preserve. Stunning finishes like 12' ceilings, travertine tile, crown moulding, upscale fixtures. The kitchen is a fantasy with black granite counters, walls of cabinets, custom wine nooks, uplighting, travertine backsplash, tube light, and fun pendants. Guest quarters with private bath and bedroom adjoin the family room. The master bedroom is fabulous with multiple transom windows, and door to screened porch. The spectacular master bath has solid cherry cabinets, travertine walk-in shower and whirlpool tub.  The office has custom travertine floors, built-in executive desk and cabinets, and hidden cords. Kelly Plantation is located near Destin Commons, Fresh Market, health club, and five minutes to the beach. On-site amenities are Fred Couple's 18 hole golf course, Owners Club with pool, five lighted tennis courts, playgrounds work-out center, lake, stables, walking trails and more.
4517 Olde Plantation Pl, Kelly Plantation, Destin Florida - offered for $547,700
Kelly Plantation short sale agentKelly Plantation agentKelly Plantation short salesKelly Plantation agentsKelly Plantation homesKelly Plantation short sale agentKelly PlantationKelly PlantationKelly Plantation
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, March 20, 2012

The Oaks, Niceville Florida - Short Sale Approved by Wells Fargo

The Oaks Niceville short sales
Wells Fargo just approved this short sale at The Oaks condo complex in Niceville Florida.  The approval time was less than 60 days, despite Wells Fargo's taxing use of the Equator short sale processing system.  Here are the details:
Mortgage Holder: Wells Fargo
Balance: appr $190,000
Sales price: appr $82,000
Waiver of Deficiency: yes
Seller contribution: yes
This Oaks condo in Niceville was an investment property. Often, a short sale seller will be asked to "contribute" to participate in the loss when that is the case.  The seller agreed to contribute about $1200, which was negotiated down from Wells Fargo's initial request.  The seller received a full waiver of deficiency, meaning, Wells Fargo and the investor on the loan would cancel the rest of the debt, and not seek to collect the balance.
If you need to short sale to avoid foreclosure, contact an experienced Niceville 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, March 14, 2012

709 Denise Dr., Crestview FL - VA Compromise Sale

Antioch Estates
Dramatic touches make this Antioch Estates VA Compromise short sale home in Crestview Florida elegant. Inside columns, interesting windows, corner angle fireplace in the living room, wood laminate floors are some of the features. The kitchen has tiled backsplash and look crisp with white counters and opens to a bright breakfast nook. There is a formal dining with chair-rail and decorative recessed shelf and stately windows. The master bathroom has a peaked glass-block window over the tub. Outside, overlook the terraced lot from the screened porch and onto nature! Antioch Estates is in the south part of Florida, or "South of I-10", which is ideal for commuting to Eglin Air Force Base, or going down to the beach in Destin.
709 Denise Dr., Crestview Florida, Antioch Estates - offered for $159,900
Antioch EstatesAntioch EstatesAntioch EstatesCrestview VA Compromise
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, March 12, 2012

229 Moriarty St., Fort Walton Beach Florida - HAP Home for Sale

Eglin HAP PCS
How about a big yard in the heart of Fort Walton Beach Florida? This Vesta Heights HAP home has distinctive feautures, like decorative archways and hall entries. There are lovely wood laminate floors in living room and hallway. The kitchen is tile, tile, tile, with tile counters, backsplash and floor! The dining room floor has an elegant design. Passthrough to living room, breakfast bar and stainless appliances. The master bedroom has large walk-in closet, attached master bathroom with double vanity sinks and tiled tub/shower combination. This sale is contingent on HAP approval.
If you are buying a HAP home in the Eglin Air Force Base area, expect to wait 60-90 days for approval of your contract.
229 Moriarty St., Fort Walton Beach FL - HAP home offered for sale for $122,900
Eglin HAPEglin HAP HomesFort Walton Beach HAP

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, March 9, 2012

Indian Lake #355, Destin Florida Short Sale Condo

Indian Lake condos
Second floor Indian Lake short sale condo in the heart of Destin Florida. This tiled unit has a spacious floor plan, with kitchen open to the living, and light decor. Condo complex amenities include a community pool, picnic areas, exercise room, community room and on-site leasing office.  Indian Lake is a good choice for an investor or owner-occupant. Gulf of Mexico beaches and parks are five minutes away. Destin Commons is close, too, along with upscale shopping and dining options. This one bedroom unit has over 900 square feet. There is one mortgage with Bank of America.
Indian Lake #355 offered for $64,900
Indian Lake condosIndian Lake condosIndian Lake condosIndian Lake condos
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, March 7, 2012

Bay Harbour Lot 73, Freeport Florida – Short Sale Building Lot

Bay Harbour Freeport
Huge lot in premier subdivision of Bay Harbour in Freeport Florida. Stunning views of the Choctawhatchee Bay. This lot is over .8 acres. Hook your line and catch some fish off the community dock. Grab your racket and play tennis on the Bay Harbour court, next to your lot, or play hoops on the basketball court. This beautiful Freeport Florida neighborhood has lakes, nature trails and a boardwalk across the marsh. Just look at the pictures! There is a large outdoor storage area for owners, street lights and underground utilities. We can also recommend an excellent Freeport Florida new home builder to design and build your new house.

Bay Harbout Lot 73, Freeport Florida offered for $69,900
Bay Harbour FreeportBay Harbour FreeportBay Harbour FreeportBay Harbour Freeport

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, March 5, 2012

6433 Starfish Cove, Lighthouse Pointe, Gulf Breeze FL Short Sale

Lighthouse Pointe short sales 
Lovingly decorated home in Lighthouse Pointe, Navarre Florida, with Santa Rosa Sound access. Beautiful creamy colors and upscale features. Kitchen is bright with breakfast bar, and partially open to the living with with trey ceiling. Long lazy porch overlooks back yard with storage shed. Baths have updated fixtures. Neighborhood has playground, beach, too! Easy drive to Hurlburt Field or even Pensacola.  This is an FHA HUD preforeclosure sale.
6433 Starfish Cove, Navarre Florida – short sale - offered for $83,900
Lighthouse Pointe short salesLighthouse Pointe short salesLighthouse Pointe short sales

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

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Friday, March 2, 2012

Turkey Creek Estates Building Lot, Navarre Florida


Turkey Creek Estates
Beautiful large corner building lot on corner of Lincoln and Concord in Navarre Florida. This would be an excellent location to build your new home, close to Hurlburt Field and a short drive to Santa Rosa Sound for fishing or swimming in the beautiful Gulf of Mexico. The lot dimensions are approximately 100 x 250. Need a builder, too? We can recommend an Emerald Coast builder for your new house in Navarre Florida.
This is not a short sale.
Lot 7, Lincoln Ave., Navarre Florida 32566-  $39,900
Turkey Creek EstatesTurkey Creek EstatesTurkey Creek Estates

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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3021 Yorktown, Willow Bend, Fort Walton Beach FL - Bank of America Short Sale

Willow Bend Fort Walton Beach
Curb appeal with repeated roof peaks makes this Fort Walton Beach short sale home say "Welcome"! Located in the Willow Bendneighborhood, it’s an ideal location for Eglin Air Force Base or Hurlburt Field commutes.  Some key featuers are interesting architectural touches, cathedralled living room with fireplace, display arches. Roomy kitchen with many cabinets. The small lot will require less maintenance, and there is a one car garage.  Willow Bend is a short drive from Santa Rosa Mall, Okaloosa Island and the Gulf of Mexico Beaches.
3021 Yorktown, Fort Walton Beach Florida - offered for $97,500
Willow Bend Fort Walton BeachWillow Bend Fort Walton BeachWillow Bend Fort Walton Beach
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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