destin short sales: 4 Moreno Point Rd., Holiday Isle, Destin Florida - 32541 - Short Sale with Gulf View
- 06/08/10 01:44 AM
Great views of the Gulf of Mexico at 4 Moreno Point, a Holiday Isle property in Destin Florida. This fabulous Thi beach house sleeps 19, so bring all your family. In-ground lagoon pool, game room, four bedrooms with bunkroom to use as fifth. The expansive kitchen, living room and dining are all open and phenomenal size for parties. Downstairs, access the additional recreation room plus gameroom, and more bedrooms. Huge wrap around deck! Covered parking for several cars, oversized lot. Best of all- walk across the street from this Holiday Isle home to the spectacular Destin Florida beach! This short sale home grossed $65,883 … (6 comments)
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destin short sales: No Price Too Big or Little If You Need To Sell Your Destin Florida Short Sale
- 06/02/10 12:39 PM
Today I received a call from a potential Destin Florida short sale seller, timid to speak with me. Why? She had been told by the previous real estate agent she contacted, that listing her home was not worth her time! Why? It seems this property was worth under $100,000 and would be "a lot of work". The poor seller, who lost her job, told me she was hesitant to even contact another agent, thinking no one would help her. I told her, "Sure, a short sale is a lot of work, but this is what I do." I then explained the process of gathering documents, pricing, follow … (8 comments)
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destin short sales: Bancorp South Approves Destin Florida Short Sale Condo
- 04/26/10 08:21 AM
Bancorp South has approved a condo short sale in Harbor Plantation, Destin Florida. Bancorp South primarily operates in the Southeast. Bancorp South does not process short sales like the major lenders (Bank of America, Wells Fargo, etc). Instead they rely on a local attorney who represents them and reviews comparable sales. It removes many layers of processing. Here are the Destin short sale details:Property: Destin condo in Harbor PlantationMortgage: Bancorp South - balance about $650,000Offer: about $325,000Time for Approval: 40 daysNotes: Bancorp South removes their lien at closing, but deals with the deficiency laterIf you need to avoid foreclosure, and do a Destin, Florida short sale, … (7 comments)
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destin short sales: So, You Have A “Cash” Offer for My Short Sale Listing?
- 03/23/10 08:34 AM
Being a short sale listing agent in Destin, Florida, each week I receive offers on my listings. At least once a week, I hear the same thing from the buyer's agent:
“I have a CASH buyer for your short sale listing! He can close immediately.”
OK, then what are you expecting from me? And the short sale lender? Do you realize that a CASH offer makes NO DIFFERENCE to the short sale lender? Do you know where your offer goes? To the bottom on the pile. (With the 20,000 other offers in queue.) Bank of America does not … (12 comments)
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destin short sales: Southbay by the Gulf #82, Destin Florida - Short Sale
- 03/15/10 11:31 AM
Southbay by the Gulf #82 - Destin Florida Short Sale 940 Highway 98 E, Destin, FL 32541 View Map Unit 82 Southbay by the Gulf, Destin Florida, is in a great location on the "gulf side" of the complex, south of the property's lake! This Destin short sale condo is just a minute walk to the beach. Very nicely decorated with a tropical flare. Southbay by the Gulf amenities include 2 large pools, tennis court, on site rental office, and a walkway to the beach with a gazebo. This Destin short sale condo is close to all the fun, restaurants and … (7 comments)
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destin short sales: What's Happening with Destin Florida Real Estate?
- 03/13/10 02:29 AM
Destin Florida Real Estate Market Report
February 2010
There were 45 sales of homes and condos in Destin Florida for February 2010, 10 were short sales and 10 were foreclosures.
The average sales price for Destin real estate was $291,000.
The average list price for Destin homes and condos was $386,000, compared to $442,000 one year ago.
There are 1375 Destin homes and condos for sale, compared to 1660 one year ago.
There is a 30 month inventory of Destin homes and condos for sale, with the average months inventory being 28 for the past year. A normal … (2 comments)
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destin short sales: Destin Short Sale Approved in 60 days? A Bank of America short sale? Heck, yes!
- 03/08/10 10:12 AM
What does a Bank of America Equator approval look like? Here is the happy email I got regarding a Destin short sale on Saturday:
What was the key to getting this short sale approved? Tenacity AND creativity. Bank of America's Equator system rejected this offer of around $165,000 as "insufficent" about five times. It was fair market value. In fact, it was a little over what other units in The Palms condo project in Destin Florida were selling for. Finally, we gave up and just entered $1,000,000 as the offer price. Amazingly, Equator let us continue the short sale process without rejecting the offer. … (18 comments)
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destin short sales: I’ll Take That Destin Short Sale for 20% Off!
- 02/28/10 03:21 AM
$70,000 below asking price? 20% off? Those must be the magic numbers, because they are the types of offers I have been getting on some of my Destin Florida short sale listings. For example and illustration, I have a Destin short home listed in at $420,000. The two most recent comparable sales were $430,000 and $425,000. The buyer’s agent presents me with an offer for $350,000. Hmmmm… will the short sale lender accept $350,000? I doubt it.
There are “magical” numbers floating around the internet that short sales sell for 82% of list price, or 80% of market value, or … (22 comments)
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destin short sales: "Can I Put That Condo On Layaway?"
- 02/19/10 09:52 AM
I have been negotiating a short sale offer for a Destin Florida condo for about a week. Today I received the following email from the buyer's agent:"Here is my buyer’s final offer for the condo.
Purchase Price - $150,000
$50,000 at closing, $50,000 in 12 months and the other $50,000 in 24 months.
Seller to pay all closing costs
Seller to pay 6 months of condo dues
He would like an answer by 2pm on Monday."Enough … (19 comments)
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destin short sales: Luau Condo #6108, Sandestin Florida - Short Sale
- 02/01/10 12:15 AM
Owning this stylish Luau condo will open you to the world of Sandestin! This Sandestin short sale condo is an efficiency unit. Just drop your keys and go out and play! Amenitis include a great pool, covered parking. Nearby shopping at the Village of Baytowne Wharf. Enjoy beach, bay. Join tennis, beach club, golf, marina, gym! This Luau short sale condo is located on the south side of Sandestin Resort.Offered at $119,000.
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 Destin Real Estate Blog
… (6 comments)
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destin short sales: Are Short Sale Lenders More Lenient the Second Time Around?
- 01/30/10 09:59 AM
It was almost a year ago that Bank of America approved a short sale on one of my Destin Florida condo listings. The sale price at the time was $260,000. The sellers owed $410,000 on the unit. Bank of America approved the short sale requiring the sellers do a cash contribution of $16,000 towards the loss at closing. Why? Because the sellers were paying two other mortgages on time and they had jobs and regular income.
Unfortunately, the property did not close. The buyer defaulted after approval because he wanted to buy another condo.
Six … (17 comments)
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destin short sales: Report: Short Sales and Your Credit Score
- 01/26/10 10:45 AM
Curious what will happen to your credit score after a short sale?
The answer is… it depends. How many mortgage payments did you miss? How much debt do you have? What is your outstanding balance to available credit ratio? What is your overall payment history? Your “point” impact will be calculated by FICO based on these and several other criteria. Here is an actual example of how a short sale affected my Destin short sale seller’s credit score.
Property: Destin short sale condo – investment property (not owner occupied)
Lender: Aurora Loan Services
Number … (17 comments)
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destin short sales: Bank of America and Equator: Hints for Short Sale Success
- 01/22/10 11:25 AM
If you and your short sale sellers are having problems with Bank of America and Equator (formerly Reotrans), you are not alone. My team and I have been "experimenting" with the new short sale upload system since we've been forced to start using it two weeks ago. Not only does the short sale agent have to use Equator, so does the short sale seller. The idiosyncrasies of the software can be intimidating-- even to a savvy internet user. Passwords don't work, information is wiped out, and files are rejected for reason code: OTHER.
Today a Destin short sale seller came into my office for … (29 comments)
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destin short sales: 4495 Ocean View, Crystal Shores, Destin Florida Short Sale
- 01/15/10 10:27 AM
The "Bimini House" in Crystal Shores, Destin Florida says "Come on in and have some fun!" with its cheerful tangerine exterior and plethora of porches. This Destin short sale home will make you smile at the happy colors and breezy decor. First floor features wood floors, open dining room, high ceilings and fireplace. The kitchen is a country delight with pass-through, eat-in space, transom windows and overlooking the heated pool. Second floor master bedroom is large and luxurious with private wrap balcony and its own fireplace! Third floor has wrap balcony with access from two more bedrooms and peak of gulf … (6 comments)
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destin short sales: Bank of America Approves Destin Short Sale: Boldly Ask and You May Receive
- 01/14/10 10:32 AM
Bank of America Approves Destin Short Sale Condo: Pays Past Dues
Sometimes you get lucky!
Subject Property: Destin short sale condo on the harbor
Short Sale Lender: Bank of America
Mortgage Balance: $1,200,000.00
Sale Price: $490,000.00 appr
Seller Cash Contribution: -0-
Seller Promissory Note: -0-
Past Due Association Fees Paid by Bank of America: $25,235.67
Notes: I wrote a previous post about short sale condos and association dues becoming the “Next Generation of Junior Liens” because so many homeowners cannot afford to pay them. As this down real estate economy progresses, more and more owners will … (16 comments)
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destin short sales: Bank of America & Equator: Are We Guinea Pigs on a Treadmill?
- 01/13/10 01:02 AM
If you haven’t heard recently, Bank of America short sales are getting even… well, weirder. Their new plan is to implement an online system where real estate agents and borrowers can upload their own short sale information. It sounds great-- and it would be--if it worked. OK, you might have heard one or two success stories, but I can tell you from practical experience, until this system is refined your Bank of America short sales might take… longer!
The new system is called Equator, formally REOTrans. It is really a jerry-rigged uploading site that is also used for foreclosure … (25 comments)
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destin short sales: Beachside II 4291, Sandestin Florida - Short Sale Condo
- 01/07/10 09:54 AM
Beautiful Sandestin short sale condo located on the 9th floor of Beachside II at Sandestin Beach and Golf Club directly on the Gulf of Mexico. The kitchen has granite countertops, recessed lighting and breakfast bar. The master bedroom provides an exquisite view overlooking the gulf. The master bath has a garden tub and a walkin closet. The convenience of the stacked washer and dryer gives you more time to enjoy the beach or relax on the balcony. Sandestin is filled with fun, and you can venture to restaurants, shopping, Baytowne Wharf, Destin Commons and more - all a short distance from this … (2 comments)
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destin short sales: TOP SHORT SALE STORIES OF THE YEAR
- 01/03/10 03:56 AM
It was a hectic year for short sales, but there was some good news, big and little, that brings hope for 2010. Here are my top short sale stories for the past twelve months, some personal, some national.
1. The first story is a Happy Short Sale Saga. One of my Destin Florida sellers regained employment, so did not have to sell the home he and his family desperately loved! I gladly withdrew the property from the market. Specializing in short sales is often more than closing the sale.
2. HAP - The Homeowner Assistance Program (HAP) is a government program … (9 comments)
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destin short sales: Worst Short Sale Lenders of the Year Awards
- 01/02/10 03:35 AM
Each year I give out awards for the worst short sale lenders I have dealt with in the last twelve months. Congratulations to our 2009 winners!
1. PHH - Now Waiting 9 Months for Approval and Counting PHH Mortgage has had a VA Compromise Offer since February 2009 for a Niceville Florida short sale. They were so lame as to do a VA appraisal back in July, then let that expire after six months because they were so slow, and had to order a new one. The sale is still is not approved.
2. USAA will Wait for Short Sale Seller to Die … (11 comments)
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destin short sales: The Palms Unit 11003, Destin Florida Short Sale Condo
- 12/21/09 10:20 AM
The Palms of Destin is what everyone raves about! You can own this almost-new Destin short sale condo and be in the middle of all the excitement! Pool, tennis? Beach, drinks? You can have it all! Unit is close to Henderson Beach and the Gulf of Mexico for swimming and sunning! The contemporary Palms project includes huge lagoon pool, children's pool, waterfall, tennis, basketball. Love coffee? "The Beach Trader" is on-site for your cup of Starbucks. Finally, Traders Vics is the place to go for cocktails. Your unit is sleek and stylish, has granite counters, 9' ceilings. Association dues covers wireless internet … (9 comments)
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