South of 30-A in Gulfview Heights, Santa Rosa Beach Florida, this short sale home by the beach at the end of a lovely little cul-de-sac,  awaits you! When you drive up to 52 Vail Lane, Santa Rosa Beach FL 32459, you’ll peek toward the end of the street and see the garage (a hint) highlighted by an arched canopy of trees. Pull up, and find an intriguing home with landscaped nooks, field stone walkways and an in-ground pool. Inside, there is a Mexican tiled expanse of living room, dining room, kitchen and a step-down to a huge Florida room. The first floor has three bedrooms. On the second story addition, there is an enormous space with the master bedroom, a bar, sitting area, bathroom and open to the balcony. See the gulf? You can see the gulf from your chair on the expansive porch and soak in the atmosphere! Walk to beach through deeded beach access, cavort at Seaside, Rosemary Beach, Watercolor and all things 30-A. Home needs some updating and cosmetics, but we are talking prime “location”!  This is a one-lien short sale with OCWEN for easier processing.

52 Vail Lane, Santa Rosa Beach Florida – South of 30 A – offered for $615,000

Questions about doing a Santa Rosa Beach short sale? Contact me at 850-650-7883.

It’s Wendy… It’s Sold!

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

SHOULD YOU SHORT SALE OR STAY CALCULATOR

Wendy Rulnick, Broker, is a short sale and pre-foreclosure specialist and has been featured in “Kiplinger Personal Finance Magazine” and “Florida Realtor Magazine”. She has successfully helped hundreds of families avoid foreclosure through short sale along the Emerald Coast of Florida. Wendy Rulnick is knowledgeable in all aspects of short sale, including VA Compromise Sale, FHA HUD pre-foreclosure sale, HAP military PCS, HAFA, Bank of America Coop program and more.  She is also co-founder of www.ShortSaleSuperstars.com and short sale instructor to agents across the United States. 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 52 Vail Lane, Gulfview Heights, Santa Rosa Beach FL Ocwen Short Sale first appeared on Rulnick Realty.

This Church Street home in Santa Rosa Beach Florida was originally purchased as a short sale in 2009.  For the second time, it is being sold as a short sale, just approved by J.P. Morgan Chase. The mortgage was backed by Ginnie Mae, and was a USDA loan, which offers  mortgages to rural areas throughout the U.S.

Lender: Chase
Mortgage Type: Ginnie Mae USDA
Balance: appr $220,000
Junior Liens: none
Sale Price appr $200,000
Seller Cash Contribution: -0-
Seller Promissory Note: -0-
Deficiency: none

Although Chase’s short sale approval letter did not specifically address a waiver of deficiency, the Chase negotiator quoted me USDA loss mitigation guidelines, which state there is no pursuit for the balance of the unpaid note.  I researched online and found the following information about USDA loans sold as short sales, which the USDA calls “pre foreclosure sales” or “PFS”:

“A borrower who successfully sells the property securing the loan using the PFS option is relieved of the mortgage obligation. The borrower shall not be pursued for deficiency judgments by either the Servicer or the Agency.”

Other things to note about USDA short sales – you must have a hardship, and be at least 31 days late on your mortgage payment or facing “imminent default”. For more information about Ginnie Mae or USDA short sale help in Santa Rosa Beach, Florida, email me at itswendy@rulnickrealty.com

The post 834 Church St., Santa Rosa Beach, FL – Chase Short Sale Approved first appeared on Rulnick Realty.

326 Cullman Avenue in Grove by the Sea just sold as a short sale. The Santa Rosa Beach Florida property needed significant work, but was located in a prime subdivison near Seaside, Watercolor and the Gulf of Mexico. Grove by the Sea has two community pools and a tennis court. There is a lovely walking trail highlighted by nature, and children’s play area.  What I like most about Grove by the Sea is its respect for trees.  The neighborhood was not cleared out, and many natural elements were retained to give a feeling of privacy to the cottage style homes.

Five homes sold in Grove by the Sea in 2011.  Prices ranged from $315,000 to $429,900. Homes currently for sale are listed from $350,000 to $540,000.

326 Cullman Ave, Santa Rosa Beach FL sold for $315,000.  

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It’s Wendy!

The post 326 Cullman Ave., Grove by the Sea, Santa Rosa Beach FL – Just Sold first appeared on Rulnick Realty.

This was one of the most unusual short sales I’ve ever gotten approved.  It all started when an investor with a PNC mortgage called me about his property in Santa Rosa Beach Florida. He had purchased the new construction home sight-unseen seven years ago in the Town of Santa Rosa.  It was in a small subdivision with nine other homes, all identical floor plans.  The current owners of these houses had been presented with an “investment” opportunity at a hotel event.  They were told they could buy these new construction homes and “flip” them for a profit when they were finished. They were also told there would be no payments due, just their credit used to buy these homes. (This is a mortgage fraud RED FLAG). Of course, no mortgage payments were ever made. The construction was never completed. Contractors were not paid. Only some of the homes even had a certificate of occupancy. All of them needed substantial work to finish. They had been abandoned and boarded up for several years. They were purchased for about $400,000 each, and now were worth around $50,000 each. 

When this seller called me and told me about the situation, I contacted the other owners who were in the same predicament.  They each listed with hopes to obtain short sale approval. Luckily, we got an offer for all ten homes from one buyer.  The buyer obtained professional bids to bring all the homes up to code and into move-in condition. The repairs were approximately $10,000 to $40,000 per home. I negotiated back and forth between the sellers, PNC and the buyer’s agent until we reached agreeable terms and short sale approval last week. 

PNC is issuing each seller a waiver of deficiency.

The post Town of Santa Rosa 10-Home Subdivision Approved for Short Sale first appeared on Rulnick Realty.

One of my short sale sellers called me confused the other day.  We had his Santa Rosa Beach Florida home under contract as a short sale.  The mortgage holder, Bank of America, had approved the sale recently, and we were moving toward closing.

“Why is Bank of America still sending me letters threatening foreclosure of my Santa Rosa Beach home?” he asked, “They’ve approved the short sale!”

Why would they?  I emailed Bank of America to get their official response. Here is what they said:

“If the loan is delinquent and has entered the foreclosure process it continues, if a sale date occurs while we are working on the short sale we can request postponement from the investor but there is no guarantee of approval. ”
 

What does this mean?  “Sale date” means foreclosure sale date.  Bank of America says they don’t stop the foreclosure process automatically if a short sale is approved.  Well, why not? Here is why: What if the buyer’s loan is denied? What if the buyer doesn’t close? What if the seller changes his mind? There are a lot of reasons why a short sale, or any property, might not close.  If Bank of America stopped their foreclosure process for every instance of short sale approval (or even short sale contract), they would surely lose time waiting for a sale that might never happen.

What is the upside of Bank of America and their investor’s policy? They normally will postpone a foreclosure sale within a few days of short sale closing, but not always.

What should you, as a Santa Rosa Beach Florida homeowner, do when you are facing foreclosure?  There are many options available. You can ask your lender for a loan modification, forbearance or a repayment plan.  If that is not possible, and you cannot keep your home, there are different types of short sale programs you might be able to use, for example: HAFA, FHA Preforeclosure, Bank of America Co-Op, VA Compromise Sale and many more.  Be sure to consult with a Florida real estate attorney and hire a Santa Rosa Beach short sale agent.  You may be able to avoid foreclosure, and rebuild your financial position and your life more quickly than you think.

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: itswendy@rulnickrealty.com

Santa Rosa Beach Florida Real Estate

Santa Rosa Beach Short Sales & Pre Foreclosure Help.

Read Wendy’s Santa Rosa Beach Real Estate Blog

The post Why Are They Foreclosing on My Santa Rosa Beach Home — I Have A Short Sale Contract? first appeared on Rulnick Realty.

 
This Town of Santa Rosa short sale home has great potential for the handyman! Don’t let the boarded up windows scare you! The inside features cream colors, vaulted ceiling and archway between columns, adding pizzaz. The master suite has a his and her walk-in closets and double vanity in the master bath. There is huge laundry room/pantry off the kitchen.

The home is missing its central air conditioning unit, and needs some broken windows repaired.  There are no kitchen appliances, but there is a water heater.  Buyer is responsible for turning on utilities for any inspections. Come look with an open mind, and find your gem in the making!

20 4th St. N, Santa Rosa Beach FL is a short sale listing, offered at $69,900.  All contracts for purchase are subject to short sale lender approval.

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: itswendy@rulnickrealty.com

Santa Rosa Beach FL Short Sales & Pre Foreclosure Help.

Read Wendy’s Santa Rosa Beach FL Real Estate Blog

The post Don’t Let This Santa Rosa Beach Short Sale Scare You! first appeared on Rulnick Realty.

This Escada, Santa Rosa Beach FL home sold for $170,000 as a short sale.

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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: itswendy@rulnickrealty.com

Santa Rosa Beach Short Sales & Pre Foreclosure Help.

The post Home Just Sold in Escada, Santa Rosa Beach FL 32549 first appeared on Rulnick Realty.

 A welcoming cottage home in Bungalows at Seagrove Beach Florida, just steps to the pool and beach. This Santa Rosa Beach short sale home is on a lake filled with fish, turtles and herons. You’ll feel nature at your window at every meal with a lakeside view. This cottage home is bright and clean. The kitchen has tiled counters, breakfast bar and recessed lighting. Upgrades include interior shutters, tiled floors and raised ceilings on both floors. The grounds on this Somerset Bridge short sale property are beautifully landscaped, with two pools, hot tub, sidewalks and wooden bridges. This home is complete with a wine refrigerator, 2 televisions, leather queen sleeper, teak furniture including media cabinet, bar stools and bedroom sets.

198 Somerset Bridge Rd., Bungalows at Seagrove Beach FL – offered for $159,900

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: itswendy@rulnickrealty.com

Santa Rosa Beach FL Real Estate

Seagrove Beach Short Sales & Pre Foreclosure Help.

Read Wendy’s Destin Real Estate Blog

The post 198 Somerset Bridge #107, Bungalows at Seagrove FL – Short Sale first appeared on Rulnick Realty.

The lot at Palmeira Villas, off 30-A in Santa Rosa Beach was originally purchased for $650,000.  Today, the lot is worth about $100,000 – over $500,000 less than the original purchase price.  Getting a Bank of America approval for a Seagrove Beach FL investor versus an owner-occupant wasn’t the hard part.  It was the delay in response.

We had submitted a complete  short sale package to Bank of America. The appraisal was back and the counter for seller contribution in Equator was complete.  But after a few months of waiting for the “investor” to respond to the short sale request, my patience (and the seller’s) ran out. We took the following steps to expedite the approval:

1. Seller communication:  I asked the seller to call the negotiator regularly. This put a more personal spin on the case.

2. Qualified Written Request:  We asked Bank of America who the investor was on the loan so we could call them directly, since our negotiator said they were not responding.

3.  Escalation to Executive:  I contacted a Bank of America Vice President asking for assistance.

We received approval three weeks later.  The fun part of the story? Guess who the investor was?  Bank of America.

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

Destin FL Real Estate

Destin Short Sales & Pre Foreclosure Help.

Read Wendy’s Destin Real Estate Blog

The post Seagrove Beach FL – Bank of America Short Sale Tips first appeared on Rulnick Realty.

This “designer” Santa Rosa Beach Florida short sale home at 223 Hidden Lakes Way will make you smile! Located in Old Florida Village, it features two wrap balconies, outside shower and pavered drive and walkway directly to pool. Cool contemporaray, chic and whimsical decor with top-of-the line furnishings included. High ceilings both floors, recessed lighting, custom fans. Kitchen with Corian counters, Kenmore Radiant Collection appliances, square shape and pass-through to dining/living room.

Old Florida Village has two community pools, just a short stroll (500 yards) from the beach.  Adjacent to the property you will be delighted to find over 20 miles of continuous/separate paved Greenway Trails (biking or walking) that weave through some of the most picturesque Beach Communities/lakes in Florida (Seaside, Grayton Beach, Redfish Lake, Eastern Lake, etc.). 

 As an owner of 223 Hidden Lakes Way, you can take a quick walk to Gulf Place and a short bike ride to the shops found at Grayton Beach, Watercolor, and Seaside (Starbucks, Publix, bike rentals, etc.). Hop in the car for a ten minute drive to shopping and dining in Sandestin Resort/Baytowne Wharf and Silver Sands Outlet Mall… Exceptional singletrack mountain bike/hiking trails that begin virtually from your doorstep and meander over 15 miles through Eastern Lake State Park/Point Washington State Forest… or give the famous Cory Pickos Wakeboarding and Ski School a try literally just down the road.  

 223 Hidden Lakes Way, Santa Rosa Beach FL short sale – offered for $349,900

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

Santa Rosa Beach FL Real Estate

Santa Rosa Beach Short Sales & Pre Foreclosure Help.

Read Wendy’s Santa Rosa Beach Real Estate Blog

The post 223 Hidden Lakes Way, Old Florida Village, Santa Rosa Beach FL – Short Sale first appeared on Rulnick Realty.