Your Misty Cove short sale condo in Miramar Beach Florida is just a few blocks from the Gulf of Mexico and the public beach access at Pompano Joe’s. Enjoy the balcony off the master bedroom and the screened in porch off of the living room looking out into the courtyard and pool. It is about 1250 square feet with two bedrooms and two full baths.
 
Make an immediate offer!  This Destin condo in Misty Cove is about to go to foreclosure!

Misty Cove Unit 103 – offered for $123,700

It’s Wendy!

Wendy Rulnick, Broker, Rulnick Realty, Inc.

Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204

Email Wendy: itswendy@rulnickrealty.com

Miramar Beach FL Real Estate

Miramar Beach Short Sales & Pre Foreclosure Help.

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The post 103 Misty Cove, Destin Short Sale Condo, Miramar Beach Florida first appeared on Rulnick Realty.

Crystal Village Unit 4B offered at $139,900

It’s Wendy!

Wendy Rulnick, Broker, Rulnick Realty, Inc.

Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204

Email Wendy: itswendy@rulnickrealty.com

Miramar Beach Florida Real Estate

Destin Short Sales & Pre Foreclosure Help.

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The post Crystal Village 4B, Miramar Beach Florida – Short Sale Condo first appeared on Rulnick Realty.

This Quail Run townhome is pre foreclosure short sale, located in the heart of Destin, Florida. This two story home has a spacious bedroom and full bath on the first floor. The open floor plan and tall ceilings in the living area makes this 3 bedroom unit live big! The kitchen includes a breakfast bar and a back door that makes it handy for outdoor grilling. Two more bedrooms are located upstairs and this is an end unit with a 1 car garage.  The short sale home has access to the community, pool, too! Quail Run is convenient to shopping, restaurants, the Destin Florida beach.

1014 Airport Rd., #166, Quail Run – Destin Florida short sale:  $105,000

Call toll-free 1-877-487-9639 or local 850-650-7883 ext 204

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The post 1014 Airport Rd., #166, Quail Run – Destin Florida Short Sale first appeared on Rulnick Realty.

Sterling Shores is an exciting condominium complex across from the Gulf of Mexico.  This Destin short sale condo is smartly decorated, with breezy balcony to watch the ocean blue and the 4,300 square foot lagoon pool.  Complex offers 4300 square foot lagoon pool, workout room, clubhouse, seasonal snackbar, movie theater, wireless internet. Walk to beach across the street, and restaurants next door on “Restaurant Road”,  Gratzi’s, Back Porch, Ruth’s Chris Steakhouse and more! 

This Destin short sale is offered at $239,900.

It’s Wendy!

Wendy Rulnick, Broker, CRP, CRS, GRI, ABR     Rulnick Realty, Inc.

Destin FL Real Estate

Destin Short Sales & Pre Foreclosure Help.

Read Wendy’s Sandestin Real Estate Blog

Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204

Email Wendy: itswendy@rulnickrealty.com

Call Wendy Rulnick, Broker/Owner, to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County-  Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field.   Wendy is a short sale and pre-foreclosure specialist and has been featured in “Kiplinger Personal Finance Magazine” and “Florida Realtor Magazine”.  She and co-founder Bryant Tutas have developed short sale agent training.

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The post Sterling Shores Condo, Destin Florida Short Sale first appeared on Rulnick Realty.

This Ariel Dunes condo, in Destin Florida, has been approved for a short sale.

Lender:  Suntrust

Mortgage Balance:  appr $380,000

Contract Price:  appr $225,000

Terms:  Fannie Mae asked seller for promissory note for $8000 to pay past due HOA fees for $100 month for 80 months.  Seller instead offered $6000 cash contribution.  Fannie Mae agreed.

To avoid foreclosure and sell your Ariel Dunes or any Destin condo as a short sale, contact an experienced real estate agent who specializes in short sales.

 It’s Wendy!

Wendy Rulnick, Broker, CRP, CRS, GRI, ABR     Rulnick Realty, Inc.

Destin FL Real Estate

Destin Short Sales & Pre Foreclosure Help.

Read Wendy’s Real Estate Blog

Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204

Email Wendy to sell your Niceville real estate: itswendy@rulnickrealty.com

Call Wendy Rulnick, Broker/Owner, to list and sell your home or condo on the Emerald Coast of Florida in Walton, Okaloosa and Santa Rosa County-  Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Eglin AFB, Hurlburt Field.   Wendy is a short sale and pre-foreclosure specialist and has been featured in “Kiplinger Personal Finance Magazine” and “Florida Realtor Magazine”.  She and co-founder Bryant Tutas have developed short sale agent training.

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The post Suntrust Approves Ariel Dunes Condo for Short Sale in Destin Florida first appeared on Rulnick Realty.

Brainstorming solutions is one of my favorite parts of negotiations.  Here is what I found:

Florida Statutes, Section 718.116  states:

The liability of a first mortgagee or its successor or assignees who acquire title to a unit by foreclosure or by deed in lieu of foreclosure for the unpaid assessments that became due prior to the mortgagee’s acquisition of title is limited to the lesser of:

1.  The unit’s unpaid common expenses and regular periodic assessments which accrued or came due during the 6 months immediately preceding the acquisition of title and for which payment in full has not been received by the association; or

2.   One percent of the original mortgage debt. The provisions of this paragraph apply only if the first mortgagee joined the association as a defendant in the foreclosure action. Joinder of the association is not required if, on the date the complaint is filed, the association was dissolved or did not maintain an office or agent for service of process at a location which was known to or reasonably discoverable by the mortgagee.

 In my case, there are about two years past due in condo fees.  I have asked the association to agree to a compromise to accomodate the short sale.  Basically, if the condo goes to foreclosure, they will only be paid 6 months dues by the senior lienholder. 

If they could reduce the balance owed in any amount to allow the short sale to occur, then the association will gain by:

1.  Immediate income to fund a project already in financial need

2.  More than the minimal 6 months past due that a foreclosure action will pay them – at some later date

3.  A new owner who will certainly be paying his dues on an ongoing basis, providing immediate cash flow

By agreeing to a lesser amount to allow the short sale, that does not mean the association will not pursue the homeowner separately for the balance owed.  But a compromise can allow the short sale process to take place,both benefitting the condo project’s financial position, and helping the homeowner solve his dilemma.

 It’s Wendy!

Wendy Rulnick, Broker, CRP, CRS, GRI, ABR     Rulnick Realty, Inc.

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Destin FL Real Estate  

Destin Short Sales & Pre Foreclosure Help.

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The post Destin Condos – Short Sales Hurt by Past Due Condo Fees first appeared on Rulnick Realty.

Adorable Bungalo home in gated Sandestin, tile floors, upgrades, porch. Close to amenity-filled Baytowne Wharf shopping, dining. Fish, pools, tennis, play, job, lifestyle. This home is 1596 square feet, built in 2005.  It has three bedrooms and three and a half baths.  Destin Florida location has some of the best beaches in the world!  This is a pre-Foreclosure Short Sale subject to seller’s mortgage holders’ approval. Offered at $317,900.

It’s Wendy!

Wendy Rulnick, Broker, CRP, CRS, GRI, ABR     Rulnick Realty, Inc.

Destin FL Real Estate

Destin Short Sales & Pre Foreclosure Help.

Read Destin Real Estate Blog

The post 2431 Bungalo Lane, Sandestin – Short Sale – Destin FL first appeared on Rulnick Realty.

This Destin home has a very open floorplan, kitchen opens to living room, tile floors, high ceilings. Fun beach house decor. Second floor has generous front porch. Huge master with private balcony, two closets. Third bedroom with whirlpool bath, separate shower and huge walk-in closet. Additional bedroom on third floor, great hang-out room, two private balconies! Maravilla has a private, deeded beach, offers clubhouse, weight room, and hot tub. Short Sale.

Offered at $549,000

It’s Wendy!

Wendy Rulnick, Broker, CRP, CRS, GRI, ABR     Rulnick Realty, Inc.

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Destin Short Sales & Pre Foreclosure Help.

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The post 371 Maravilla Dr., Destin FL – Short Sale first appeared on Rulnick Realty.

As a Short Sale Specialist on the Emerald Coast of Florida, I sometimes run into a situation where a property cannot be saved from foreclosure.  Either the seller contacted me too late, or the property combined with the market was so fraught with problems, that a sale could not be obtained.  Luckily, we can often save a property from foreclosure right up to the sale on the courthouse steps.

I recently had a townhouse listed for sale in a gated subdivision in Destin, Florida.  The property was encumbered with association fees of $800 per month.  In my area, that is outrageous for a non-waterfront property.  In fact, to overcome objections to such high fees, the list price had to be lowered substantially, and then the numbers still did not make sense to a typical purchaser. 

Well, the day before the foreclosure sale we got a contract on the property.  My team scrambled to get it to the short sale lender, in this case, EMC.  They failed to cancel the foreclosure in a timely manner, and despite efforts to rescind the sale, they let it stand.

A few days later I got a call from the “new” listing agent, who let me know she had received the assignment from EMC.  Without hesitation,  and without being asked, I sent her all my information on the property.  I sent her details on the new association fees, the contact numbers for the association, and the name, telephone number and email address of the agent who wrote the offer.  I also emailed the buyer’s agent directly to let him know he should contact the new broker, so perhaps he could make his deal work.

I gave it my all.  I wish the new listing agent and the buyer’s agent the best.  And I hope they succeed.

The post I Helped My Destin Real Estate Competitor- On Purpose first appeared on Rulnick Realty.

In the Destin Florida real estate market, there are 3105 properties for sale— 935 single family homes, 1869 condos, 206 townhomes and 401 lots.  For purposes of this report, the Destin and Sandestin markets have been combined.  Sandestin is in the Miramar Beach Florida postal area of Destin, in Walton County.  The Destin market sub-area is in Okaloosa County, Florida.

The average list price for Destin real estate is $373,685, a drop from $556,136 one year ago. 

The average sale price for Destin properties is $327,609, down from an average sale price of $502,099 one year ago.

The median sale price for Destin real estate is $267,000, down from $344,000 one year ago.  Note the “median” statistic may be more indicative of market trend than “average”, because “median” indicates that one-half of the sales were higher and one-half were lower. An “average” may be skewed higher due to some more expensive home sales that affected the resulting figure.

The report indicates 222 days average market time for Destin houses, condos and townhomes.  This figure is low, and does not reflect all listing periods of a single property. It only tracks the last listing period of the sold home.  If a property were listed multiple times and failed to sell during those times, that is not reflected in the figure.  Many Destin homes were listed more than once until they finally sold, or “re-listed” by the same real estate agent. 

The “Months Inventory” figure for Destin Florida real estate is 45 months, or almost four years.  Months inventory indicates how many months it would take to sell all the improved properties in the Destin real estate market at the current rate of sales. Normal markets inventories are usually six to seven months.

The inventory of Destin homes for sale is 3105, down from a year ago at 3474. 

Destin Florida has 476 short sales and foreclosures for sale, or 15% of the all properties for sale.

The post Destin Real Estate Market Report first appeared on Rulnick Realty.