3929 Balsam Dr., in Cedar Ridge, Niceville Florida is a beautiful home convenient to Eglin Air Force Base just SOLD in ONE DAY over asking price with multiple offers! It’s larger than many in the neighborhood due to the large loft over the living room for work, play or family space. The living room has a floor-to-ceiling fireplace and multiple windows for lovely lighting. Kitchen with large pass-through to dining room. First floor master bedroom has huge bath. Thoughtful landscaping in the front and back offers privacy and blooms. Much care includes fresh paint, upgraded fixtures in kitchen, replaced water heater. There is an 8-person hot tub in the screened porch, take a dip! Much fresh paint, some new room-darkening blinds, gas stove, dryer. Spacious stand-up attic for storage with pull-down stairs. Excellent for Eglin Air Force Base commuting or head fast to the beaches of Destin Florida!

It’s Wendy… It’s Sold! SOLD IN ONE DAY for $199,000 – over asking price!

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

Niceville Florida Real Estate Listing Agent

Wendy Rulnick, Broker, Rulnick Realty, he has successfully helped hundreds of families sell their homes, condos and lots on the Emerald Coast of Florida. Wendy Rulnick sells real estate in Destin, Santa Rosa Beach, Fort Walton Beach, Niceville, Bluewater Bay, Navarre, Seagrove Beach, Watercolor, Sandestin, Seaside, Crestview, Rosemary Beach, Mary Esther, Shalimar, Panama City Beach, Eglin AFB, Hurlburt Field. 

The post 3929 Balsam Dr., Cedar Ridge, Niceville FL Sold in One Day first appeared on Rulnick Realty.

Hardship:   Death of breadwinner

Senior Lien:   GMAC balance $220,000

Junior Lien:   USAA balance $148,000

Sale Price:   $219,000

Cash Contribution: $2,500 to GMAC and $13,000 to USAA negotiated down from $44,000

Total Cancelled Debt: $135,000
To avoid foreclosure and sell your Niceville real estate 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.

Niceville FL Real Estate

Niceville Short Sales & Pre Foreclosure Help.

Read Wendy’s Real Estate Blog

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The post GMAC Approves Niceville Florida Short Sale first appeared on Rulnick Realty.

Welcome to Swift Creek, one of Niceville Florida’s “nicest” communities.  Striking nature, tall trees, phenomenal homes entice you.  Swift Creek has parks, playgrounds, stocked ponds, fishing pier and nature trails.  There is a 3.7 mile walking/jogging course tor your enjoyment of the beautiful surroundings here. The community center has children’s play area, picnic tables, tropical bar, living room and kitchen for your parties.  Swift Creek has a neighborhood pool with outdoor kitchen, tennis courts and basketball half-court.

This gorgeous custom home at 242 Sweetwater Run has luxurious touches throughout. The entry is a “wow” with gleaming wood stairway, formal living and dining room. Kitchen opens to great room space with dramatic fireplace. You’ll love the enormous granite breakfast bar, center isle, Kitchenaid appliances, convection microwave and tile back splash.

First floor master suite opens to pool area, has sensual bath space with soaking tub and large walk-in jetted shower. Second floor living room for office, study or game room. Exterior offers lavish landscaping, pool with with 6′ jetted spa, set up for polaris, gas pool heater. Back doors alarmed, laundry room with basin sink, 2 a/c systems, central vac. It is concrete block construction. This Niceville Florida short sale home is over 3600 square feet, with 5 bedrooms and three-car side entry garage. 

Offered at $527,900.

It’s Wendy!

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

Niceville FL Real Estate

Niceville Short Sales & Pre Foreclosure Help.

Read It’s 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 home or buy a home: itswendy@rulnickrealty.com

The post 242 Sweetwater Run, Swift Creek, Niceville FL- Short Sale first appeared on Rulnick Realty.

This home  at 1694 Valparaiso Blvd., in the Pinecrest subdvision in Niceville Florida, has just been approved for short sale!

Lender:  Suntrust – both first and second mortgage

Servicer: First American Loss Mitigation Services

Loan Type: Fannie Mae

Hardship:  Job Loss

1st Mortgage Balance:  $192,000

2nd Mortgage Balance:  $40,000

List Price: $149,000

Cancelled Debt:  appr $83,000

Time for approval:  75 days

To avoid foreclosure and sell your Niceville real estate as a short sale, contact an experienced real estate agent who specializes in short sales.

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It’s Wendy!

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

Niceville FL Real Estate

Niceville 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.

The post Suntrust Approves Niceville Short Sale first appeared on Rulnick Realty.

Richly painted, plush carpet, interesting angles- this is your Niceville Florida home. You will also find cathedralled living room, plant ledges, kitchen with pass-through, built-in shelving. Big fenced yard, patio. Roof replaced 2004. Easy drive to Gulf beaches, bayou, bay, shopping! Niceville short sale subject to seller’s mortgage holder’s approval.  Offered at $169,900.

The post Niceville Short Sale first appeared on Rulnick Realty.

I’m a First Time Homebuyer in Niceville Florida (or rather am seeking to become one) and my wife and I found a house that is a short sale.

I’ve been researching the ins and out of buying a short sale but there are of course more questions then answers 🙂 The information I was given was a BPO of 290K, the home is listed at 230K, with an offer of 200K. This information was given freely by the listing agent.
The home is beautiful but it has since been vacated. No utilities, the home has since been broken into and vandalized, the refrigerator is tainted with an unholy smell and must be replaced, and the owner left a ton of debris behind when he/she moved out.  Is this common in a short sale? Is this really a foreclosure? From what I have been reading it seems like people continue to occupy their homes during a short sale, not abandon them to disrepair during the process.

I would be most thankful for any opinions or advice you could offer. From what I have read it is essential to obtain a buyers agent in a short sale, one with experience, so that will be the next thing I research (I saw the property yesterday), correct?  Cynthia

Dear Cynthia,

 1.  If a BPO (Broker Price Opinion) on file with a bank is significantly higher than the offer or list price, you’ve got a problem.  However, if the BPO is more than 90 days old, most lenders will order a new one.  Home prices are dropping in Niceville, so that would be a consideration.  Additionally, your agent might be able to provide her own market analysis of the property for the listing agent to submit to the lender, that might help them better understand the current market conditions and pricing scenario.

2.  You may be in an auction situation, as you wrote there is already is “an offer of 200k”.  That may mean the property is under contract, with an offer accepted by the homeowner, but yet to be approved by the short sale lender.  If the listing agent indicated she would be sending multiple offers to the short sale lender, that diminishes your chance of procuring the property.  Additionally, the Florida Association of Realtors legal advisors have stated that secondary offers must include an addendum stating they are “back-up” offers only.

3.  It is common for short sales to be vacant with no utilities.  Why?  Because the property may be a rental, and the owner was unable to find a tenant.  Or the owner may have been transferred.  The utilities are off because most sellers doing a short sale do not have the financial means to pay for utilities.  You should still have a home inspection, although most short sales are sold “as is”.  You should have the right to cancel your contract if the inspection is unacceptable. Understand that you may have to pay a small fee for the water, electricity, etc to be turned on in order to facilitate your home inspection.

4. A “short sale” is not a “foreclosure”.  A short sale is still owned by the homeowner.  A foreclosure is owned by the homeowner’s mortgage lender. The definition of a “short sale” is when the lender agrees to a accept a payoff for less than the remaining mortgage balance, and possibly forgive the entire shortfall, as well as pay the seller’s closing costs including the Realtor fee. The loss is either completely written off by the lender, a payment arrangement is made with the homeowner (promissory note), or a lump-sum for a potentially lesser amount is agreed to (cash contribution).

5. YES, it is essential to hire an experienced buyer agent in pursuit of your Niceville Florida home.  A short sale is a complex transaction, and a good buyer’s agent will help you structure your offer to your best advantage, and in such a way that might also fit the criteria of the short sale lender.

The post Niceville Florida Short Sale Buyer Needs Help first appeared on Rulnick Realty.

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1. Determine if your seller has a legitimate hardship.  Some of those are: loss of income, divorce, medical, transfer, job loss, death of breadwinner, etc.  Not “I want to move”, “I am tired of paying the mortgage” or ” The value of my house went down”.

2. Very important -ask your seller to contact his lender before you list the property.  Why? The lender may have a loan modification or forbearance plan that may help your seller solve his problem.  Additionally, the lender may have its own preferred loss mitigation package to send to your seller.  Further, a few lenders order an appraisal of the property at the beginning of the Short Sale process.  Some examples are: BB&T, First American, and Citi Residential.  The early appraisal may be helpful to you in determining a target “net”. The challenge of an early appraisal, however, is that the market is still declining in most areas and appraisals don’t stay valid for long.

3. If your seller has received foreclosure correspondence from his lender, recommend he contact an attorney.  In any event, your seller may want legal advice if he has any concerns about his rights with his mortgagees.

4. After listing the property, prepare your separate Short Sale file in advance.  This will save you time when you receive an offer, and keep you organized.  It’s best to have a separate Short Sale folder, because extraneous information, such as surveys, disclosures, etc. will not be needed to send to the lender.

What is in this file?  For each lender, such as first mortgage and junior lien, prepare a set of documents as follows:

• Hardship letter
• 1-2 years tax returns
• Financial Worksheet
• Listing Agreement
• Payoff of other lien if more than one (order immediately after listing)
• Letter of Authorization (send to lender immediately after listing)

Use pre-printed labels for every page with appropriate loan number and description of what each page is, e.g. Hardship Letter 877600984

Remember when you actually have a contract you will need to supplement each package with your seller’s most recent proof of income and bank statements.

There are many factors that contribute to a successful Short Sale.  Preparation and organization are two of them.

The post Short Sale Listings: Tips & Tricks first appeared on Rulnick Realty.