Tuesday, April 16, 2013

Get Ready to Buy Your Destin Home

Decide what you can afford. Generally, you can afford a Destin Florida home equal in value to between two and three times your gross income.

Develop your home wish list. Then, prioritize the features on your list. For example, two car garage, age of home, subdivision in Destin, such as Kelly Plantation, Regatta Bay, Crystal Beach, waterfront or not, etc.

Start saving. Do you have enough money saved to qualify for a mortgage and cover your down payment? Ideally, you should have 20 percent of the purchase price saved as a down payment. There are many programs that will require less down, such as VA. Watch out getting a VA mortgage loan in Destin. Much of the area is in a COBRA zone which means you cannot get federal flood insurance. VA home loans require flood insurance. If you have to get private flood insurance for a COBRA zone area, it could cost several thousand dollars a year. There are a few areas of Destin that are not in a COBRA zone. I can check the area you want and let you know.

Get your credit in order. Get your credit report free online (available to you once a year). Check it over, correct any errors and work on improving it if necessary.

Determine your mortgage qualifications. Are you paying cash or getting a mortgage for you new Destin property? How large of mortgage do you qualify for? Also, explore different loan options — such as 30-year or 15-year fixed mortgages or ARMs — and decide what’s best for you. I can refer you to different mortgage brokers who can help you. Get preapproved. Organize all the documentation a lender will need to preapprove you for a loan. You might need W-2 forms, copies of at least one pay stub, account numbers, and copies of two to four months of bank or credit union statements, last year or two tax returns, and more!

Weigh other sources of help with a down payment. Do you qualify for any special mortgage or down payment assistance programs? Check with your state and local government on down payment assistance programs for first-time buyers. Or, if you have an IRA account, you can use the money you’ve saved to buy your fist home without paying a penalty for early withdrawal.

Calculate the costs of Destin homeownership. This should include property taxes, insurance, maintenance and utilities, and association fees, if applicable.

Contact Wendy Rulnick, Broker, Rulnick Realty, Inc.
featured in “Kiplinger” and “Florida Realtor” magazines
850-650-7883 ext 204 office
1-877-ITS-WNDY (487-9639) toll free
1-866-888-7792 fax

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Tuesday, April 9, 2013

Does Moving Up to Destin or 30-A Make Sense?

These questions will help you decide whether you’re ready for a home that’s larger or in a more desirable location, such as near the beach of South Walton, Destin, Sandestin, Rosemary Beach Florida. If you answer yes to most of the questions, it’s a sign that you may be ready to move.

1. Have you built substantial equity in your current home? Look at your annual mortgage statement or call your lender to find out. Usually, you don’t build up much equity in the first few years of your mortgage, as monthly payments are mostly interest, but if you’ve owned your home for five or more years, you may have significant, unrealized gains.

2. Has your income or financial situation improved? If you’re making more money, you may be able to afford higher mortgage payments and cover the costs of moving.

3. Have you outgrown your neighborhood? The neighborhood you pick for your first home might not be the same neighborhood you want to settle down in for good. For example, you may have realized that you’d like to be closer to your job or live in a better school district.

4. Are there reasons why you can’t remodel or add on? Sometimes you can create a bigger home by adding a new room or building up. But if your property isn’t large enough, your municipality doesn’t allow it, or you’re simply not interested in remodeling, then moving to a bigger home may be your best option. If you need a builder to help you with a remodeling project anywhere from Fort Walton Beach to Niceville, to Destin or South Walton, we have one for you.

5. Are you comfortable moving in the current housing market? If your market is hot, and we are getting HOT, your home may sell quickly and for top dollar, but the home you buy also will be more expensive. If your market is slow, finding a buyer may take longer, but you’ll have more selection and better pricing as you seek your new home. There are many micro-markets in the Emerald Coast market. Ask me about yours.

6. Are interest rates attractive? They are LOW! A low rate not only helps you buy a larger home, but also makes it easier to find a buyer.

When you are ready for a market analysis, advice on home improvements, call me. If it’s time for you to sell, call me today.

Wendy Rulnick, at 850-650-7883 ext 204.

[email protected]


Tuesday, April 2, 2013

Two Fort Walton Beach Waterfront Condos- Okaloosa Island and the Sound

This Sailwatch Landing Unit B501, 187 Brooks Street, is the front building, right on the water, in this Fort Walton Beach Florida condo complex. It's not a cookie-cutter condo. It would make a great full time residence. There is a community pool and dock, plus private garage.

See Sailwatch Landing B501 for more photos and description.

This Waterscape condo B304 on Okaloosa Island, 1110 Santa Rosa Boulevard, Fort Walton Beach, Florida, has one of the best views in the complex.

See Waterscape B304 for more photos and description.

Want more? Search all Fort Walton Beach Florida homes for sale.

Need to sell your Fort Walton Beach condo?

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: [email protected]

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