Thursday, July 25, 2013

Rocky Bayou Pool Home Under Contract in 5 Days! Niceville Florida

Rocky Bayou Pool Home
Delightful home for sale in Rocky Bayou Estates, Niceville Florida and SOLD in 5 days! 101 Teresa Court, Niceville Florida has a lovely yard with in-ground pool, huge patio with pergola, big pool house that can be used as apartment, teen quarter, workshop or man-cave. Pool house has window air conditioning and bathroom with shower. This is a spacious home with two living areas, one could be an office. Kitchen is bright, plenty of cabinets, Jenn-Aire cooktop and breakfast area. Living room has beautiful brick fireplace. The formal dining room has an archway open to the office/second living area. Master bedroom accesses the beautiful outdoors. Oversized garage plus storage building. Rocky Bayou Estates has easy access to Destin or Eglin Air Force Base or Duke Field.
DSCN1909 DSCN1917 DSCN1930 DSCN1968 Rocky Bayou pool home

                                                                   
                      
Rulnick Realty



Wendy Rulnick is the marketing choice for sellers on the Emerald Coast who want to list and get their homes and condos sold in Destin, Sandestin, Bluewater Bay, Santa Rosa Beach, 30-A, Watercolor, Seaside, Rosemary Beach, Seacrest Beach, Kelly Plantation, Regatta Bay, Destiny and more.
Co-Founder www.ShortSaleSuperstars.com  national network
call Wendy 1-850-650-7883

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Wednesday, July 24, 2013

Majestic Sun Condo Miramar Beach FL - Wells Fargo Short Sale


Majestic Sun Short sale
This Miramar Beach Florida Majestic Sun short sale condo unit A609 was just listed and placed under contract in one week!  It’s in the premier part of the building for great beach views from the sixth floor. All tiled, updated kitchen, new flat screen t.v.s and fully furnished. Right across the street find the beach and neighborhood restaurants, like the Whale's Tail.  Nearby is shopping in Destin Commons, Baytowne Wharf, Grand Boulevard and Silver Sands outlets.  There are two large movie theaters, upscale grocers and more.
In terms of the short sale, there are two mortgage on this Majestic Sun condo, both Wells Fargo, which processes its short sales in Equator, with some exceptions such as the HAFA program.
1160 Scenic Gulf Drive, Majestic Sun condo unit 609A, was offered at $257,900.  It is currently being processed for short sale approval, and should close within 60 days.
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                                                                  Rulnick Realty 
                      

Wendy Rulnick is the marketing choice for sellers on the Emerald Coast who want to list and get their homes and condos sold in Destin, Sandestin, Bluewater Bay, Santa Rosa Beach, 30-A, Watercolor, Seaside, Rosemary Beach, Seacrest Beach, Kelly Plantation, Regatta Bay, Destiny and more.



Co-Founder www.ShortSaleSuperstars.com  national network

call Wendy 1-850-650-7883

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Tuesday, July 9, 2013

NEW FLORIDA FORECLOSURE CHANGES – DOES IT AFFECT BROKER ADVICE?

Listen up! If you are facing foreclosure in Destin, Niceville, Fort Walton Beach, Crestview, Santa Rosa Beach, Navarre or anywhere in Florida - there is a new Florida Foreclosure Law.  Attorney Richard Zaretsky breaks it down here. Eventually, you may have less time to sell your property as a short sale. Don't stick your head in the sand and call me at the last minute, before it's too late. Thank you, Richard, for the great article!
If you have a client that has a just filed or soon to be filed residential foreclosure action in Florida, what new timelines can you expect under the new Florida Foreclosure Law?  Effective with all NEW lawsuits filed on or after July 1, 2013 the new streamlined foreclosure procedures law will govern how fast the lawsuit will proceed – or at least that is the theory behind the new law.  Reality can be quite something else.
Under the law as it existed before June 7, 2013 (the date Governor Scott signed the legislation) an uncontested or minimally contested foreclosure action could take about 110 days from start to finish PROVIDED the lender’s attorney did all the things the lender’s attorney could do under Florida’s Rules of Civil Procedure when they could be done.  For example, a foreclosure action usually results in the Lender counsel waiting for the time after service of process of the lawsuit on the defendants and then filing a Motion for Summary Judgment of Foreclosure.  The reality is that most lender counsel don’t jump on getting the Motion for Summary Judgment filed and the Motion then set for a Hearing date until days or weeks after the soonest date one can be requested.  The procedural rules provide that the lender attorney cannot set the Motion for Summary Judgment for hearing sooner than 20 days from the date of the filing of the Motion for Summary Judgment.  Many courts today are have busy schedules, so it may take 30 days to get a hearing, thus creating a 10 day delay. 
Under the law (click here for a copy of the bill) as it will be beginning June 8, 2013, these timelines are supposed to have been changed.  …………
One part of the legislation actually asks the Florida Supreme Court to create an expedited timeline for foreclosures in the Florida Rules of Civil Procedure.  These Rules are created not by the legislature, but by the Florida Supreme Court.  Almost all of the 110 days that I mentioned above are from time requirements set forth in the current Florida Rules of Civil Procedure.  Since the legislature cannot change those timelines, it has asked the Florida Supreme Court to do so.  So the changes in the entire procedure in Florida are not over yet and there is actually no real “EXPEDITED” in the new law – at least not for now!
Some changes that will affect borrowers:
Deficiencies
The existing deficiency law allows a lender to pursue a deficiency as late as anytime before 5 years after the foreclosure sale date.  The revision now states that any deficiency judgment must be sought within one year from the foreclosure sale.  Further, in the case of owner-occupied residential property, the amount of the deficiency may not exceed the difference between the judgment and the FMV as of the date of the sale. There is also a rebuttal presumption that a residential property for which there is a homestead exemption is an owner-occupied property.
Finality of Mortgage Foreclosure Judgment
Presently, if a mortgage foreclosure judgment and sale is set aside, the title reverts to the borrower.  Under new Fla. Stat. 702.036 any action to set aside, invalidate, or challenge the validity of a final judgment of foreclosure or to re-establish a lien or encumbrance is relegated only to monetary damages if certain conditions are met: 1) proper service, 2) final judgment was to the property, 3) appeals periods have run, and 4) a non-affiliated third-party bidder purchased the property. The statute then goes on to address the rights of the true owner/holder when that final judgment is received via a lost note affidavit.
Lost Note Affidavits
Fla. Stat. 702.015 is created to address a lost note affidavit for residential loans by requiring threshold requirements in the initial pleadings.  The complaint must contain affirmative allegations as to it holding/owning the note and its entitlement to enforce them. Further, in the alternative, the complaint must contain allegations as to how the right to sue was delegated to the plaintiff if it is now the owner/holder. Lastly, contemporaneously with the complaint, a plaintiff must file a certification regarding the original note. In addition, when the complaint is filed a plaintiff must file its lost note affidavit.
Lost Note Indemnification
A big deal is the new indemnification requirement.  This is important because the prior law did not have any baseline standard for the lender guarantying to the borrower it would AND COULD defend any claims that someone else held the promissory note.  Fla. Stat. 702.11 is created to state lost note indemnification means 1) a written indemnification agreement, 2) a surety bond, 3) a letter of credit, 4) deposit or cash collateral,  or 5) other security the court deems appropriate.
Timelines
The new timeline for an expeditiously lender attorney handled residential foreclosure I think will remain the same – for now!  Until the Florida Supreme Court creates new “expedited” rules of procedure, I do not see the timeline changing under the new law.  I will stick to my 110 day start to finish timeline that I proposed years ago – that can still work today.  See FORECLOSURE PROCESS FINISHED IN 100 DAYS?  BUT - now you say that most realtors say that foreclosures take years, not weeks.  Although it is true that there are foreclosures that have taken since 2008 to get resolved in 2013, that was the result of situations and forces that no one could have predicted (and no one did predict that log jam scenario, further aggravated by a moratorium on filing foreclosures, another delay no one predicted).  Timelines are based on technicalities but they are subject to the vagaries of human conduct, mostly caused by distraction and personal priorities.  Lately we hear of foreclosures taking 5 months in Florida.  That's 150 days and close to the technical line of 110 days, so reality and possibility are becoming aligned.   My experience is getting away from the major population centers creates a courtroom atmosphere were there are far fewer pending cases and thus fewer delays both from excess work vs. available time, to simply the number of pending cases.  Whatever the reason, now more than ever your clients need to understand the race of the FORECLOSURE EXPRESS VS. LITTLE ENGINE THAT COULD .

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© 2013 Richard P Zaretsky, Esq.

Be sure to contact your own attorney for your state laws, and always consult your own attorney on any legal decision you need to make.  This article is for information purposes and is not specific advice to any one reader.

Richard Zaretsky, Esq., RICHARD P. ZARETSKY P.A. ATTORNEYS AT LAW, 1655 PALM BEACH LAKES BLVD, SUITE 900, WEST PALM BEACH, FLORIDA 33401, PHONE 561 689 6660  RPZ99@Florida-Counsel.com - FLORIDA BAR BOARD CERTIFIED IN REAL ESTATE LAW - We assist Brokers and Sellers with Short Sales and Modifications and Consult with Brokers and Sellers Nationwide!  Shortsales@Florida-Counsel.com  New Website www.Florida-Counsel.com

See our easy to find articles at




                                                                  Rulnick Realty 
                      
Wendy Rulnick is the marketing choice for sellers on the Emerald Coast who want to list and get their homes and condos sold in Destin, Sandestin, Bluewater Bay, Santa Rosa Beach, 30-A, Watercolor, Seaside, Rosemary Beach, Seacrest Beach, Kelly Plantation, Regatta Bay, Destiny and more.
Co-Founder www.ShortSaleSuperstars.com  national network
call Wendy 1-850-650-7883
- See more at: http://activerain.com/blogsview/3768360/new-florida-foreclosure-changes-does-it-affect-broker-advice-#sthash.lpQyKKc3.dpuf

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Friday, July 5, 2013

Destin Florida Commercial Office for Sale Hwy 98 - Miramar Beach

Miramar Beach Florida office for sale
Emerald Coast Parkway, Miramar Beach, Destin Florida  office for sale. Near Sandestin Florida, this beautiful architect-designed two story unit has six large offices, three upstairs and three downstairs, that can accommodate two or more employees each. Perfect set up for medical group or professional space. There is a conference room, kitchen, copier room, elegant lobby and huge cooled storage room of 460 SF (not included in square footage of 2200 fully finished space). Each office has window to hall for a spacious feel. Lobby has sky-high ceiling for dramatic effect and granite reception counter. Travertine floors in lobby, kitchen, bath and mail room. Security system. Front windows tinted for energy efficiency, with custom blinds. Two air conditioning units. Fantastic location with strong association, a few blocks from the beach, includes retail, restaurants and offices, such as Tuesday Morning, Boca Boutique, Ava's Attic, Dynasty restaurant, Thai Elephant, and more.

Located at 12889 Emerald Coast Pkwy Unit 107A in Miramar Plaza, Miramar Beach Florida 32550

List price $319,900
Destin office for saleDestin office for saleDestin office for sale

Contact Wendy Rulnick/Broker/Owner

                                                                  Rulnick Realty 
                      

Wendy Rulnick is the marketing choice for sellers on the Emerald Coast who want to list and get their homes and condos sold in Destin, Sandestin, Bluewater Bay, Santa Rosa Beach, 30-A, Watercolor, Seaside, Rosemary Beach, Seacrest Beach, Kelly Plantation, Regatta Bay, Destiny and more.

Co-Founder www.ShortSaleSuperstars.com  national network


call Wendy 1-850-650-7883

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Wednesday, July 3, 2013

1306 Limestone Creek Cv. Swift Creek, Niceville FL - Under Contract

Swift Creek Short Sale
This gorgeous Swift Creek short sale home is now under contract after just 23 days!

This Bank of America short sale home at 1306 Limestone Creek Cove, Niceville Florida, was a great price for the  Swift Creek neighborhood.  It was listed at $358,900 per the HAFA program, which is a special short sale option with suggested guidelines from the U.S. Treasury. 

Are you eligible for the HAFA short sale program

You might be eligible for HAFA if your lender participates in the Home Affordable Modification Program (HAMP), and your mortgage is not underwritten by Fannie Mae or Freddie Mac or the Veteran's Administration.HAMP offers you the opportunity for assistance by lowering your payments or delaying payments to keep you in your home. You must meet the HAMP requirements as follows, to be part of HAFA, whether or not you choose a modification. These qualifications are:
1) You have missed payments or are about to default
2) You got your primary mortgage before Jan. 1, 2009 
3) You are a natural person  (not a corporation, partnership, LLC etc)

4) Your mortgage is for a one- to four- unit residential property.

5) Your property has not been condemned.

6) Your current unpaid principal balance is less than or equal to

$729,750 for a one-unit property

$934,200 for a two-unit property

$1,129,250 for a three-unit property 

 $1,403,400 for a four-unit property

7) You must not have been convicted within the last 10 years of felony larceny, theft, fraud or forgery, money laundering or tax evasion, in connection with a mortgage or real estate transaction.

Not all lenders participate in the HAFA program. Fortunately, Bank of America does, which contributed to the speedy sale of this Swift Creek, Niceville Florida home.

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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