Short Sale Sellers – May I Help You?

Do you think short sales are over on the Emerald Coast of Florida? They are not. In 2017, I’ve helped sellers from Sandestin, Destin, Miramar Beach, Florida to Navarre, Niceville, Crestview and more short sale their homes or investment properties, with prices ranging from $100,000 to almost $1,000,000!  The market has recovered, but not completely. Many homeowners are still experiencing mortgage rate re-sets where their  mortgage payments increase, relocation for employment, business failure, military PCS from Eglin AFB or Hurlburt Field, loss of rental income, divorce, job loss, etc. These hardships make paying their mortgages difficult or impossible, and their home’s value has not increased sufficiently to cover their first or second mortgage balances should they pursue a traditional sale. In these cases, short sale is still an option. Lenders are somewhat easier to work with than in years past, but not always. It depends on your particular situation.

Don’t stick your head in the sand if you’ve been receiving calls and notices from your mortgage lender because you are behind on your payments.  You may be able to recover, save your credit and avoid foreclosure through short sale. I recently helped a couple who had about a $100,000 in credit card debt that they had built up to pay a mortgage they could no longer afford.  They hired an attorney to help them with their debt consolidation and he suggested they also short sale their house. They were surprised and delighted that I got their house sold quickly and their Nationstar – Mr. Cooper short sale approved in 14 days!  If you have missed mortgage payments already, be wary of parties who contact you with “built-in” investors to buy your home after discovering Lis Pendens notices in public records. Always check with a legal professional before proceeding, as some of these are scams.

Here is a “Thank you” I recently received from one of my Niceville Florida short sale sellers:

“Wendy, I want to say how thankful I am for how hard you fought for me. You’re AMAZING and I’m so grateful for you.”

To discuss your particular situation to see if short sale or VA Compromise Sale could help you, give me a call or send me an email, and consult with your attorney. I’ll be happy to give you my honest opinion.

It’s Wendy… It’s Sold!

Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call 850-650-7883 ext 204
Email Wendy: itswendy@rulnickrealty.com

www.shortsales-emeraldcoast.com

www.rulnickrealty.com

Wendy Rulnick, Broker, sells real estate in Destin, Santa Rosa Beach, 30A, Miramar Beach, Seagrove Beach, Watercolor, Sandestin, Seaside, Rosemary Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Florida.

So You Found a “For Sale By Owner” and You Want an Agent to Write Your Offer?

 I’ve recently been asked to write an offer for a buyer purchasing a For Sale by Owner property. The buyer found the property and wonders why a fee for such a service shouldn’t be rock bottom.  If you think just writing an offer for someone is easy, take a look at the following list of required items involved in this task by the real estate agent:

  1. Verify ownership of the property
  2. Verify legal description and parcel id.
  3. Make introduction to seller
  4. Obtain property disclosure, survey, lead addenda, etc. from seller and present to buyer, answering or researching buyer questions
  5. Ensure buyer’s desired offer terms are specified, such as offer price, earnest money, personal property included in purchase,  choice of title agent, closing cost assignment (who pays for what), closing date, inspection dates, etc.
  6. Ensure appropriate addenda are included, such as condo rider, insurance cost limits, VA addendum, FHA addendum, etc.
  7. Explain offer process and forms required to buyer, as well as timeline, financing options, municipal contacts etc.
  8. Put buyer in touch with lenders
  9. Send offer to seller
  10. Describe offer to seller
  11. Discuss offer with seller
  12. Construct seller counter-offer and provide to buyer, explaining all to buyer
  13. Negotiate offer presenting terms from buyer to seller and seller to buyer, finding solutions to come to meeting of the minds
  14. Spend hours on telephone, email and text answering questions from both buyer and seller
  15. Providing recommendations to both buyer and seller regarding inspectors, repair people
  16. Ensure finalized contract is sent to title agent
  17. Follow up on inspections for both seller and buyer, such as home inspection, termite/wood destroying infestation inspection, feasibility study, septic inspection, survey, appraisal for lender, provision for condo document review, coastal construction zone line disclosure, buyer pre-closing walk-through, etc.
  18. Ensure repairs are made if required as specified in contract and re-inspections take place if necessary, arranging and explaining all to buyer and seller
  19. Negotiate issues such as changed seller move-out date, buyer appraisal low, etc. explaining all via phone, email or text
  20. Ensure title agent arranges closing and accommodate both buyer and seller
  21. Assume liability for errors in contract for both buyer and seller
  22. Assume liability in transaction follow up for both buyer and seller
  23. Assumar liability for whatever else can go wrong (for both buyer and seller)

Sometimes, the above tasks may be brief or easy, but often they are lengthy and can be complex.  Because a real estate agent has not found the property, driven the buyer around nor actually listed the home for sale, it does not mean that the tasks involved in just “writing” an offer can be diminished in their importance nor regarded as insignificant.

It’s Wendy… It’s Sold!

Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call 850-650-7883 ext 204
Email Wendy: itswendy@rulnickrealty.com

Wendy Rulnick, Broker, sells real estate in Destin, Santa Rosa Beach, 30A, Miramar Beach, Seagrove Beach, Watercolor, Sandestin, Seaside, Rosemary Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Florida.

Emerald Coast Water Damage Prevention Checklist – Courtesy Niceville Insurance Agency

I recently sold a fixer-upper house on 30A in South Walton, Santa Rosa Beach, Florida, in the Beach Highland subdivision. One of the reasons it needed work was due to water damage from a washing machine hose break.  The sellers of this 30A vacation home had turned the water on prior to their visit by calling South Walton Utilities two days before their arrival. When they got into Santa Rosa Beach, they found their 30A home flooded on much of the first floor because the washing machine hose had broken.  The floor was permanently warped, and they were horrified! Well, just recently, my favorite local Emerald Coast of Florida homeowners insurance agent, Travis Wieland of Niceville Insurance Agency, mailed me a fabulous informational pamphlet on Water Damage Prevention.  He said I could share it with my readers. Maybe this will help you in the future!

  1. Roof Leaks – Have a professional inspection annually. Request a detailed inspection report that includes the condition of the flashing, roof covering, parapets and drainage system. Ensure downspouts are free of debris.
  2. Washing Machines – Turn supply valves off when not in use, when leaving for extended periods of time (This is a great idea!!). Only operate washing machine while someone is home. Inspect water supply line hoses once a year for cracks, kinks or blisters. Consider replacing standard hoses with reinforced braided stainless steel ones.
  3. Plumbing Supply & Drains – Pay attention to your water bill. A significant increase could indicate a leak. Disconnect garden hoses when freeze warnings are issued and turn off outside faucets (freezes don’t happen often on the Emerald Coast, but it did snow here a few years ago!) Visually inspect plumbing pipes (drain and supply lines) annually, look for condensation around the pipes or an obvious leak and corrosion.
  4. Toilets– After flushing until the fill valve has finished refilling the bowl.  Inspect the flushing mechanism inside the toilet every six months. Replace the flapper or fill valve assembly if you notice intermittent or constant tank refilling when the toilet is not in use (it sounds like a ghost – who hasn’t heard that?) Operate the valve to make sure the water supply will shut off. Replace supply lines with reinforced braided stainless steel hoses.
  5. Water Heaters – Have professional plumbing inspection at least once every two years, and annually once the warranty has expired. The rod will eventually corrode and leave the tank vulnerable to damage.
  6. Sinks – Inspect plumbing beneath sinks every six months. Locate the water shut-off valve. Inspect the valve every six months to make sure water supply will still shut off. Have valve replaced if needed.

To keep your home protected from water damage, follow this advice. I’ve heard stories from others returning home from vacations to find floors and walls damaged from leaks! For your local homeowner insurance needs on the Emerald Coast of Florida, I always recommend Travis Wieland of Niceville Insurance at 850-729-2131 or email travis@niafl.net!

It’s Wendy… It’s Sold!

Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call 850-650-7883 ext 204
Email Wendy: itswendy@rulnickrealty.com

Wendy Rulnick, Broker, sells real estate in Destin, Santa Rosa Beach, 30A, Miramar Beach, Seagrove Beach, Watercolor, Sandestin, Seaside, Rosemary Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Florida.

Another Florida Title Insurance Story – Why You Should Get It

I recently sold a piece of property in the Point Washington, Florida area.  The buyer was paying cash and was concerned that there was a clear title, which is the legal right to ownership. When you purchase a property for “cash”, you don’t have to get title insurance in Florida.  This smart buyer, however, did want to insure his property.  He had attempted to purchase a different parcel of land and through a title search by a professional title company, found there was mortgage that encumbered the property which was unknown to the owner, with no quick resolution to allow him to complete his purchase. For this second attempt at buying a different property, we didn’t think there could possibly be another title problem, but having gone through it once, he was worried. Guess what? There was another title issue found, nine to be precise, with the second property. It was discovered that the property’s deed had the wrong legal description, an error of a now-defunct title company, indicating property boundaries overlapping other properties, some of which were encumbered by mortgages, thus involving the interest of not only other owners, but of their lenders. Thankfully, the seller of the subject property had title insurance, so she filed a claim to have the issues rectified at no charge. To clear these title issues on her own could have cost many thousand dollars and taken hours of research. Since she had a title policy, she was protected and able to finally sell her land.

The bottom line – get title insurance when you buy a property for cash in Florida. It’s worth it.

It’s Wendy… It’s Sold!

Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call 850-650-7883 ext 204
Email Wendy: itswendy@rulnickrealty.com

Wendy Rulnick, Broker, sells real estate in Destin, Santa Rosa Beach, 30A, Miramar Beach, Seagrove Beach, Watercolor, Sandestin, Seaside, Rosemary Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Florida.

You Just Bought a House – Change the Locks

I recently sold a house in Destin Florida. The buyer’s agent asked repeatedly for the seller to turn over all the keys – they only had a couple of them. Where were the rest? Who knows? They had two teenage sons and there was an ex-spouse. Perhaps they had extra keys. Maybe a neighbor, or two, had a key to the house. Perchance, the pet sitter had a key.  When the seller bought the house, he may not have received all the keys from the previous owner. What does this mean? Stop worrying about all the keys. As a matter of course, when you buy a new house, condo, townhouse or commercial property, change the locks, yes, even for a brand new house! There is such a thing as a master key that builders use. What does it cost to re-key a house? Not much. I just called A to Z Lock and Safe, who cover the Emerald Coast of Florida. Their service call charges are between $50-$75, it’s $12.50 per lock change and keys are $2.25 each. So, you could change locks on your new property easily for under $150.00!

Why risk it?

It’s Wendy… It’s Sold!

Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call 850-650-7883 ext 204
Email Wendy: itswendy@rulnickrealty.com

Wendy Rulnick, Broker, sells real estate in Destin, Santa Rosa Beach, 30A, Miramar Beach, Seagrove Beach, Watercolor, Sandestin, Seaside, Rosemary Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Florida.

Walton County Florida Single Family Home Market – Santa Rosa Beach, 30A, Miramar Beach FL

Everything you want to know about the Walton County, Florida single family housing market is here, up through August 2017. Walton County includes Santa Rosa Beach, 30A, Rosemary Beach, Miramar Beach, Freeport, etc. Notice that in the past year, the number of sales has gone up almost 9% over the previous year.  The average sale price is up a tremendous 32.5%, median sale price is up 4.5%! Active inventory is down over the past year by 4% and months supply is 6.4 months, almost one month faster than the previous year. What does this mean in general for single family home owners in Santa Rosa Beach, 30A, Freeport, Miramar Beach and vicinity, in Walton County, Florida? It’s a seller’s market!

Walton County Single Family Homes Real Estate Market September 2017 by Wendy Rulnick on Scribd

It’s Wendy… It’s Sold!

Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call 850-650-7883 ext 204
Email Wendy: itswendy@rulnickrealty.com

Wendy Rulnick, Broker, sells real estate in Destin, Santa Rosa Beach, 30A, Miramar Beach, Seagrove Beach, Watercolor, Sandestin, Seaside, Rosemary Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Florida.

Okaloosa County Single Family Home Market – Destin, Fort Walton Beach, Niceville, Crestview Florida

Everything you want to know about the Okaloosa County, Florida single family housing market is here, up through August 2017. Okaloosa County includes Destin, Fort Walton Beach, Niceville, Crestview, Mary Esther, Shalimar, Valparaiso, etc. Notice that in the past year, the number of sales has gone up almost 10% over the previous year.  The average sale price is up about 2%, active inventory is down over the past year by almost 14% and months supply is just 3.4 months, one month faster than the previous year. What does this mean in general for single family home owners in the Destin, Fort Walton Beach, Crestview and Niceville, Florida? It’s a seller’s market!

Okaloosa County Single Family Homes Market September 2017 by Wendy Rulnick on Scribd

Do you have more questions about the Okaloosa County, Florida real estate market?  Give me a call, email or text!

It’s Wendy… It’s Sold!

Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call 850-650-7883 ext 204
Email Wendy: itswendy@rulnickrealty.com

Wendy Rulnick, Broker, sells real estate in Destin, Santa Rosa Beach, 30A, Miramar Beach, Seagrove Beach, Watercolor, Sandestin, Seaside, Rosemary Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Florida.

Okaloosa County Real Estate Market Report Second Quarter 2017

Okaloosa County Single Family Homes 2017-Q2 Local Residential Market Metrics by Wendy Rulnick on Scribd

 

 

It’s Wendy… It’s Sold!

Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call 850-650-7883 ext 204
Email Wendy: itswendy@rulnickrealty.com

Wendy Rulnick, Broker, sells real estate in Destin, Santa Rosa Beach, 30A, Miramar Beach, Seagrove Beach, Watercolor, Sandestin, Seaside, Rosemary Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Florida.

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Welcome Ben Ward to Rulnick Realty

I am pleased to introduce Ben Ward, who has joined my team at Rulnick Realty. Ben has over 25 years real estate sales experience, has managed real estate companies in the Memphis TN area and is now licensed with us as Broker Associate! Welcome, Ben!

Email ben.ward@rulnickrealty.com Cell Phone 901-848-7245

Mortgage Tool Kit if You Want to Buy a Home on the Emerald Coast of Florida

 

Are you thinking about buying a home on the Emerald Coast? Here is the Consumer Financial Protection Bureau Home Loan Toolkit.  This will help you understand the mortgage process, and required documentation from your lender and title company, called the Loan Estimate and Closing Disclosure.

For more information, also check out “Owning a Home: Tools and Resources for homebuyers“.

We can help explain these forms and the process to you. It’s best to get pre-qualified before you start your home search, so you will look at the right properties to meet your budget. The seller will also require you to provide a pre-qualification letter from a lender along with your offer.

Call me for a list of lenders to start shopping a mortgage.  When you are ready to begin your home search on the Emerald Coast, start here.

It’s Wendy… It’s Sold!

Wendy Rulnick, Broker, Rulnick Realty, Inc.
Call 850-650-7883 ext 204
Email Wendy: itswendy@rulnickrealty.com

Wendy Rulnick, Broker, sells real estate in Destin, Santa Rosa Beach, 30A, Miramar Beach, Seagrove Beach, Watercolor, Sandestin, Seaside, Rosemary Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Florida.

Free Instant Home Value