Destin Florida Real Estate - Short Sales - Foreclosures » Emerald Coast of Florida

How Has Oil Spill Impacted Destin Florida Condo Sales?

It's Wendy! — Fri, 16 Jul 2010 21:25:52 +0000

You can easily track the effect of the BP Oil Spill on the Destin Florida condo market. The chart above shows number of condos sold in Destin, Miramar Beach and Sandestin Florida for the past six months. Notice sales increased from January, with only 44 units, to its high – 80 closed condominium sales in April.

The BP Deepwater Horizon Oil explosion was on April 20.

Destin condo sales dropped to 55 units in May, then only 42 sales in June. That’s almost half.

The market had been recovering, and the disaster had obvious implications in buyers’ decisions to purchase.

Today, July 15, BP announced that no oil is flowing into the Gulf of Mexico. Let’s hope their pressure test works, and the solution to this tragedy is at hand. Destin condo sales may see a rebound with this news. Time will tell.

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

Wendy is a short sale and pre-foreclosure specialist and has been featured in “Kiplinger Personal Finance Magazine” and “Florida Realtor Magazine”. 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.

Subscribe in a reader

Subscribe to It’s Wendy’s Blog by Email

Filing a BP Oil Claim? Good Luck!

It's Wendy! — Thu, 15 Jul 2010 16:15:09 +0000

BP Oil Claims? Not fun! Many real estate agents have been affected by the BP Oil Spill in the Gulf of Mexico. So far, I’ve had three contract cancellations with- “Reason: Oil”. Why? A high percentage of Destin Florida real estate buyers count on rental income from the condos or homes they plan to buy near the beach. Everyone knows that vacation bookings are down in Destin and South Walton County due to the national media attention to tar balls and potential oil coming ashore. Although the tar balls are cleaned up pretty quickly, and I haven’t personally seen any, I can understand how someone 1000 miles away may prefer to vacation elsewhere to play it safe. That is the main reason buyers might be hesitant to complete their purchases. Hopefully, the progress on capping the well will calm some of the fears of real estate buyers who want Destin, Sandestin and Santa Rosa Beach Florida properties.

Anyway, back to my claims fun. The rumors abound about what BP will or won’t do with regard to paying real estate agent claims. These include: only paying claims for properties located within one “block” of the beach, only paying brokers, only paying salespeople, not paying listing agents, or not paying real estate agent claims at all. I don’t know if any of this is true. But I had to try.

I started by calling the BP claims office and briefly relayed the stories of my three cancelled contracts. I was asked for my address and social security number, and was told “someone would call me back”. About a week later a “Mr. Roy” from BP left me a message. I returned the call and was put on hold, listening to the countdown like in a deli, “You are caller number 32” and so on. Finally, a live disinterested person answered and I asked for “Mr. Roy”. He said, “He will call you back”, then hung up before I could utter one word!

When Mr. Roy called me back he asked for all the information I had already provided. They had my address completely incorrect in their system, which frightened me. He finally said, “Oh, I have the wrong file”. I had to repeat spellings of my city, Miramar Beach, and my name twice. That was not comforting either. Mr. Roy told me I would need three years tax returns, a copy of my social security card, a copy of my driver’s license (“I’m not trying to be being cute”, he said, “But copied so they we can TELL who you are.”), and my profit and loss for the year. I told Mr. Roy, I was not filing for supplemental income, I was filing for three specific business claims. Then he said I did not need to provide the profit and loss.

OK, can you see how I was starting to feel a bit concerned? I should trust BP with my confidential information, such as social security card, driver’s license, etc., when they mix up files from the beginning and employ people who cannot spell? Worrisome to say the least.

That is why I decided to hire an attorney. Today I met with him, and produced a package that any short sale agent would be proud of. 6” thick of labeled, numbered and clipped documents. For each claim: listing agreement, HUD, legibility contract, signed contract, cancellation statements and cover sheets. The attorney was wowed and thought I could file the claims myself and save some money. I told him I would rather have him deal with BP for me. Wouldn’t you?

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

HUD Approves Destin Florida Pre Foreclosure Short Sale – in 13 Days!

It's Wendy! — Thu, 08 Jul 2010 21:39:15 +0000

This HUD FHA short sale at 800 Wild Oak, Destin Florida, was approved by Bank of America in 13 days! Why? How? What?

Why? The seller was proactive! He contacted Bank of America early when he was unable to pay his mortgage. When a modification did not work, he applied for the HUD Pre Foreclosure Sale Program.

How? When my Destin seller contacted me, he provided me with the HUD Approval to Participate form, indicating a starting list price.

What? I obtained a full price offer for the seller in one day. I ensured the contract was written without closing costs HUD won’t pay. They will only pay reasonable seller’s costs, (with the exception that if the buyer’s loan is FHA, they will credit 1% towards buyer costs).

In fact, the Bank of America short sale negotiator emailed me:“I wanted to inform you I have never received a HUD (settlement statement) that was this clean. Thank you so much!!! It definitely makes my job easier!”

Additionally, because I sold this seller’s home so quickly, he qualified for a HUD seller credit of $1000. That’s the incentive HUD pays if the property sells within 3 months of application (reduced to $750 thereafter).

If you have a Destin Florida home with FHA HUD mortgage, and you are unable to make your mortgage payments, contact your lender right away. Consider a HUD Pre Foreclosure sale, and be sure to contact an experienced Destin HUD short sale agent.

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

Saxon Approves Short Sale in Driftwood Estates, Santa Rosa Beach Florida

It's Wendy! — Mon, 05 Jul 2010 20:04:13 +0000

This home at 801 Loblolly Bay Drive was just approved by Saxon Mortgage as a short sale.

Original Saxon Mortgage balance: $300,000 appr

Sales Price and Current Market value: $194,000 appr

Time for Approval: 35 days

This Driftwood Estates short sale was also approved a couple of months ago by Saxon for a different purchaser. The previous buyer defaulted on the contract and lost his earnest money deposit. Even though the second buyer submitted an identical offer, Saxon had to go through its approval process all over again.

How is this Saxon short sale reported to credit bureaus?

If you need to sell your Driftwood Estates home as a short sale to avoid foreclosure, consider hiring an experienced Santa Rosa Beach short sale agent.

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

Search Santa Rosa Beach Florida Homes for Sale

Santa Rosa Beach Short Sales & Pre Foreclosure Help.

Read Wendy’s Santa Rosa Beach Real Estate Blog

Blue Dolphin Condo #302, Okaloosa Island, Fort Walton Beach Florida – Short Sale

It's Wendy! — Mon, 05 Jul 2010 18:44:39 +0000

If you like a bit more privacy on your beach jaunts, then this Blue Dolphin short sale condo on Okaloosa Island Florida is for you! Blue Dolphin is small waterfront complex let’s you get away from the crowds… Lounge at the beachfront pool, use the convenient dune-crossing boardwalk to Gulf of Mexico waters! This Fort Walton Beach short sale condo has high ceilings, granite counters, tile floors and covered parking. Long balcony for after-sun breezes and wave-watching. Beautifully decorated. Okaloosa Island is in Fort Walton Beach Florida, near great restaurants and shopping in Destin Florida, too. Emerald green waters await you. What more could you want?

466 Abalone Court, Blue Dolphin condo #302 offered for $299,900

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

Fort Walton Beach Florida Real Estate

Fort Walton Beach Short Sales & Pre Foreclosure Help.

Read Wendy’s Short Sale Blog

Presidio Yacht Club #401, Fort Walton Beach Florida – Condo for Sale

It's Wendy! — Thu, 20 May 2010 21:17:40 +0000

Take in the beautiful views from this Presidio Yacht Club condo in Fort Walton Beach, Florida. Directly on the Santa Rosa Sound with views of the Gulf of Mexico. This Presidio condo is located on the 4th floor, just down the hall from the Media room, fitness center, and guest quarters. This is a unique living area with treyed ceilings in the dining and living room open to the kitchen with granite countertops and a breakfast bar. The master bedroom offers treyed ceilings, glass doors leading to the balcony. The Master bath has a separate shower, jetted tub and his and hers vanity’s also in granite. Boat slips are available for purchase.

Presidio Yacht Club in Fort Walton Beach Florida offers easy access to Destin shopping, Okaloosa Island, malls and hospitals.

Offered at $499,900

Contact Rulnick Realty for more information. 850-650-7883

Search Fort Walton Beach Florida real estate.

Subscribe in a reader

Subscribe to It’s Wendy’s Blog by Email

6215 Shire Lane, Crestview Florida 32536 – Home for Sale

It's Wendy! — Tue, 18 May 2010 14:22:06 +0000

Impeccable upkeep makes this Silver Oaks home in Crestview Florida an extraordinary find! Refreshing decor and polished clean. Living room with cathedral, columns, plant ledge, fireplace, open to kitchen and back yard. Tiled kitchen with upgraded lighting, hardware, generous breakfast nook, pantry, extra counters for buffet, workspace. This Silver Oaks home in Crestview Florida has a large, private master bedroom. Master bath has 2 walk-in closets, whirlpool tub, separate shower. Formal dining room plus study. Secondary bedrooms have great closet space. Outside- side entry garage, two sheds, huge patio, dimensional roof shingles, new landscaping. This home on Shire Lane in Silver Oaks has been awarded “Yard of the Month”. Easy commute to Eglin Air Force Base and Duke Field. Make it yours!

6215 Shire Lane – Crestview Florida – offered at $254,900

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

Search Crestview Florida Homes for Sale

Crestview Florida Short Sales & Pre Foreclosure Help.

Read Wendy’s Crestview Real Estate Blog

27 9th Street #4, Shalimar Florida – Home for Sale – Contingent on HAP Approval

It's Wendy! — Fri, 14 May 2010 19:20:26 +0000

Updated townhome on 27 9th Street #4 in Shalimar Florida! Berber carpet, tile kitchen. Most recently painted. Air handler about 3 years old, roof 6 years old, hot water heater 6 years old. Kitchen with repainted custom cabinets, newer appliances. Spacious master bedroom with 2 closets. Attic with pull-down stairs and about 400 SF plywooded for storage. Extra closet under stairs, cable internet in each room. Patio off back of unit was extended about 100 SF, entrance into the utility room from back patio. No homeowners association, so save on your monthly expenses. Buyer may early-occupy while seller waits for HAP approval. Ideal investment or owner-occupied unit in Shalimar in quick commute to Eglin Air Force Base, Hurlburt Field. Shalimar is in the greater Fort Walton Beach Florida area, adjacent to beautiful Gulf of Mexico Beaches on Okaloosa Island.

Offered at $69,900

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

Fort Walton Beach Florida Real Estate

Fort Walton Beach Short Sales & Pre Foreclosure Help.

Read Wendy’s Fort Walton Beach Real Estate Blog

Palmeira Villas at Seagrove Beach, Santa Rosa Beach Florida – Short Sale

It's Wendy! — Thu, 13 May 2010 17:45:58 +0000

Tropical Mediterranean paradise awaits you at Palmeira Villas at Seagrove Beach. This Santa Rosa Beach short sale lot is in the gated community on 30-A in South Walton, Santa Rosa Beach Florida. Note the brick-paved road and beautiful homes. Walk across the street, and access the Gulf of Mexico waters just to the east of One Seagrove Place! Easy jaunt to Seaside, Watercolor and more. This 30-A lot for sale is the first one on the left after entrance to Palmeira Villas at Seagrove Beach, Florida. This is a Bank of America short sale, so approval time should be within 120 days of short sale seller acceptance.

Seagrove Beach Short Sale offered at $72,100.

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

Seagrove Beach Florida Real Estate

Seagrove Beach Short Sales & Pre Foreclosure Help.

Read Wendy’s Seagrove Beach Real Estate Blog

Did You Sell Your Santa Rosa Beach Short Sale Too Fast?

It's Wendy! — Thu, 13 May 2010 17:26:39 +0000

This weekend I received an offer on a Santa Rosa Beach Florida short sale lot listing. In my area on the Emerald Coast, lots are not easy to sell. In fact, there is a 36 month absorption rate in South Walton County in the 30-A area. Yikes! A normal market may have a 6-7 month absorption rate. So it would take almost three years to sell the current inventory of Santa Rosa Beach lots at the current rate of sales.

For the sake of illustration, I listed the lot at $82,000. The last sale in the subdivision was in December, almost six months ago, for $85,000. There is another lot under contract listed at $79,000. There are three lots listed for sale in the $200’s (OVERPRICED) and two expired listings at $99,900 and in the $100’s.

AMAZINGLY, I received a full price offer within one day of listing this Santa Rosa Beach short sale. The seller accepted it. I also received a back-up offer for over list price.

What is happening here? Is there gold on the lot or an oil field? No!

Did I underprice the lot? No! The comparable sale and property under contract were right in line with my listing. In fact, the absorption rate of my market makes the lot price seemed overpriced.

Why did I sell this Santa Rosa Beach lot sell so quickly? Curious, I asked the buyer’s agent. He said the buyer wanted THAT subdivision and had written an offer on the other lot under contract, but lost his bid. He was just waiting for another lot to come on the market. When it did, he jumped. I suspect the other offer was for the same reason.

So, what does it mean, when your property sells quickly, and for full price? It means two things. It was priced right, and you were lucky!

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 Florida Real Estate

Santa Rosa Beach Short Sales & Pre Foreclosure Help.

Read Wendy’s Santa Rosa Beach Real Estate Blog