With the current market conditions, many homeowners are faced with mortgages they can no longer afford on homes that may be worth less than they owe.  A large number of these homeowners are becoming delinquent on their mortgages and, in some cases, are going to foreclosure. When you find yourself unable to afford your house, your 2nd home, or your investment property, even if you aren't delinquent on your mortgage, there are options available to you before you go to foreclosure.  You can do a preforeclosure sale, which involves the sale of the property by the borrower to a third party for less than the amount owed to satisfy the delinquent mortgage, as agreed to by the lender, investor and mortgage insurer or you can do a short sale, which is the same as a preforeclosure except you are ... 08/27/2008

If your buyer is eligible for a VA loan, and are looking to purchase a primary home, the following information may be VERY helpful to you. We have found that Rural Housing loans or FHA loans, the Rural Housing loan in particular, can be the best mortgage available, even better than a VA loan in most cases.  The Rural Housing loan is specific to particular areas based on full-time population as determined by the US Census Bureau.  For instance: in our local area, all of Walton County and Santa Rosa County qualify, as do: west of Hurlburt Field, Destin, Crestview, Niceville and Valparaiso.  The Rural Housing loan is very similar to the VA loan with four major differences:  It is restricted to certain geographical locations of the property (see above - for the most part, in our local area,... 08/26/2008

I know everyone likes to complain about Countrywide Short Sales, but you know what, I like them.  They are consistently inconsistent.  I've had approvals from them in five weeks, without even a phone call from the negotiator, to five months, after them losing information, switching negotiators four times, and forgetting to order BPO's.  At least it's a behemoth of a "system", and the consistency of the agent is the key to success with them. My most recent approval is a condo in Destin, Florida. The drill was the same as most other short sales, with the key to the magic "approval" near the end. Here's the typical scenario from the listing agent's perspective: Qualify seller Obtain and prepare seller package Price property at fair market value Market property Field calls from agents askin... 08/21/2008

Are your business computers safe from pending hurricanes or other natural disasters?  I am concerned, as I wrote in Oh No- Hurricane Season- Here It Comes! In preparation, consider the following advice courtesy of my computer guru, John Wright of Accelerated Solutions.... >>>There are plenty of sources for hurricane preparedness to protect lives, homes, pets, and property... but what about the computer systems?<<< With this pending storm and those that will follow, make sure your business has a solid hurricane safety plan for your computer systems. How can a small business owner protect their data in a hurricane, tropical storm, or flood? >>>A full backup of all computer systems should be made including E-mail, Contacts, Documents, Financials, Databases, Etc.<<< >>>Backed up information... 08/18/2008

Oh no- here it comes! Tropical Storm Fay is predicted to become a hurricane today. It could reach the U.S. by Thursday.  Dr. Jeff Master's Wunder Blog says the storm may become a Category 1-2 by tonight.  Living on the Emerald Coast, in Destin Florida, past pre-hurricane flutters are rushing back.  "We should get ready now!" I tell my husband.  "Do we have extra gas? Cat litter? Wine? Tranquilizer for Micah?"  (Michah is one of my three cats. He meows every ten seconds during our evacuation trips to Atlanta or Huntsville.)  I am anticipating watching the Weather Channel every hour for an update, and checking the National Hurricane Center for the projected path. Wish us all luck! It's Wendy! Wendy Rulnick, Broker, CRP, CRS, GRI, ABR     Rulnick Realty, Inc. Search Destin Florida real es... 08/16/2008

What a fabulous week. I would say, full of "serendipity!  I've hired two new agents to work at Rulnick Realty. The first, Beverly Dudley, has several years real estate experience. She will also fill the role of my executive assistant.  I was looking for an additional staff member, as we are overwhelmed with new listings and short sales.  Each day, my office manager and I fill every every second multi-tasking, eating at our desks, phone, email and writing simultaneously. It's been crazy.  That's why I knew I needed to expand my staff to keep up with the flow of new business.  Beverly will help with prospecting, closing coordination and filling in as necessary. She previously worked for a top agent (now retiring) in my area.  She sold new construction homes and townhomes in Santa Rosa Bea... 08/15/2008

In this day of "post mortgage meltdown", buyers are being forced to actually qualify for the mortgage they are getting.  Because most first time homebuyers are doing FHA or Rural Housing loans, your buyer will not be able to buy more home than they can afford due to:   FHA has a maximum debt to income ratio of 41% Rural Housing has the same, unless it was built post January, 2001, and then it is 43%. Both of these loan programs are FULLY VERIFIED programs There are some compensating factors that can help your buyer go higher (ie: a lot of cash reserves after closing, etc.) but for the most part, these debt to income ratios are strictly enforced If you don't want your buyer to be overextended on the house they are purchasing, make sure you work with a Lender that will offer them either F... 08/07/2008

Do you want a good gauge of how the Destin real estate market is doing?  Or any market?  Check the Months Inventory Statistic. This will tell you how many months it will take to sell out the current inventory of houses, condos, lots and townhouses if sales continued at the existing rate.  The resulting figure will give you an idea of how quickly or slowly real estate is selling.  Currently, the combined Months Inventory statistic for improved Destin real estate, which means any property that has an improvement on it, like a house, condo or townhouse (no lots) is 39 months.  So, it will take over three years to sell those 3600 properties at the current rate of sales.  For point of comparison, that statistic was as long as 76 months last November.  Meaning, sales are improving. Statistics... 08/04/2008

SELLING DESTIN BY THE POUND Will recent efforts put Emerald Coast on the world map? July 17, 2008 "People from England don't know we're here," Teri McCall of Compass Realty said - but she believes that's about to change. Thursday, McCall said, Compass Realty will be doing a presentation to two British business groups - London's MoneyCorp and the British American Business Council - called "International Real Estate - Get the Inside Story." McCall told The Log she'd like to see both groups open up offices in this area, which would boost Northwest Florida's profile with real estate buyers and investors overseas. "The Euro is so strong, people can come over here and buy," McCall, who has an international specialty license in real estate, told The Log.Executive Director Darrel Jones of the O... 07/21/2008

Commander's Palace and On the Rocks Bar ~ NOW OPEN Modern Creole cooking with Southern and Floribbean influences Executive Chef: Danny Trace The restaurant and bar are both located on the waterfront LocationCommander's Palace and the On the Rocks Bar is located in the Emerald Grande resort, at the foot of the Destin Bridge, the Western-most point of Destin FL Address:34 Harbor BoulevardSuite 230Destin, FL 32541-2310(850) 337-8555 http://www.commanderspalace.com/destin/index.php   07/17/2008

Shimano teramar - I love this rod it has it all and for about $100 you can to.I did not realize what a wonderful rod this was untill I left it on my boat and it walked away.It has enough feel to tell when a pinfish is biting the tail off you gulp shrimp yet I have pulled in 30 inch redfish, a 27 inch trout, and a stingray... So I am shopping for a new one...   Aaron Barnes 07/10/2008

To all of you who didn't get to see the whale that was right off the beaches of Destin, here is an awesome video of it.  I realize that there is a curse word in it (I think the person taping this was amazed that there was a whale here) but turn down your speakers - the video is pretty amazing! You can see how close to the beaches the whale really was! Everybody is saying our market is bad but it appears that there are some "new beings" that may have discovered our little secret here in the Panhandle and the best beaches in the world and it may help to contribute to growing our market!!!!  Enjoy!!!!!       Whale Watching http://emeraldcoast-speed.com/whale_watching_05-24-08.wmv Florida Real Estate with Brandon Jordan, your Northwest Florida Realtor and ActiveRain featured Realtor for Oka... 06/23/2008

Destin Short Sale Pre Foreclosure 601 BEACH DR, DESTIN FL 32541 MLS#:494354 $153,900 The fundamentals of a wonderful home are here, including a family room. Needs sprucing up. So far, granite breakfast bar, wood laminate floor in living room, tile work. Needs some sheetrock and revamping, plus attention to yard. Oversized corner lot with two driveways, huge backyard with shed/garage. Short sale subject to seller's mortgage holder's approval. Sold as is with right to inspect. - Full Baths: 1 - Bedrooms: 2 - Aprx.SqFt: 1152 It's Wendy! Wendy Rulnick, Broker       Rulnick Realty, Inc. Selling FORECLOSURES, SHORT SALES and REAL ESTATE on the Emerald Coast of Florida:  Destin, Fort Walton Beach, Santa Rosa Beach, Sandestin, Niceville, Mary Esther, Navarre and vicinity. Call 1-877-487-9639 e... 05/30/2008

One of the many 1031 exchange requirements is the same taxpayer requirement wherein the taxpayer who sells a property is the taxpayer who buys the replacement property. Though seemingly straightforward, the requirement can be challenging for a variety of reasons.  Many states impose a transfer tax for a change of record or registered title.For example, the old or relinquished property is held by husband and wife.  The new or replacement property must be held in the name of both spouses.  If only the husband is on the replacement property deed and not both, the wife must report 50% of the gain on the sale of the property.  If the old property is held as only the wife's property, the replacement property must also be held in her name.  Seek legal counsel for a remedy once the exchange is ... 04/18/2008

In recent years, flipping or purchasing a property with the intent to quickly resell for profit has been a common staple for those looking to make a return on their investment of sweat equity and speculation.  TV offers programs of the experienced and the all too rosy eyed flipper learning the hard way their perceived improvement budget is woefully shy or their asking price too aggressive to meet their expectations.  What about the tax consequences? Section 1031 of the Internal Revenue Code was legislated into law in 1921.  Though it has undergone a number of changes over the past eighty seven plus years, the premise remains the same.  No gain or loss is recognized if real or personal property held for productive use in a trade or business or for investment is exchanged solely for prope... 04/15/2008

Katy Bird, the marketing brains behind http://www.PerchedinParadise.com.  July 4th weekend at Crab Island.  She's simply "perched in paradise"!   "I could roost here all year!"   03/30/2008

My wife and I are looking at purchasing an investment property in Destin. I have been looking on realtor.com but was wondering what information you could provide. I really like the idea of a condotel or some type of condo that is rented out to vacationers. We are looking for beach front or very close to a beach that would attract families on vacation. Do you have any suggestions?  Jeff Hi Jeff and thanks for your recent email.   You asked a very loaded question!     Personally, I'm not a major fan of condotels.  We may have 1 or 2 here, but a third was slated to happen and didn't because you could buy a nice studio or 1 bedroom near the beach for about the same price.  And there is a  mega-availability of units currently on the market that are such a better investment value.  What we re... 03/30/2008

DESTIN -- The Third Annual Emerald Coast Home Show Spring Edition 2008 will be March 29 and 30 at Destin Middle School. Non-profit organizations will be participating in the event. Vendor booth space and sponsorships are available now. The show is free to the public. It opens 10 a.m.-6 p.m. March 29 and noon-5 p.m. March 30. The show will feature many business categories such as a Home Show section, Health Care section sponsored by the Younger You Institute, employment, a car show and sale by Sam Tailor Cadillac, furniture show and sale, and a retail section. A child safety area sponsored by ADT will feature McGruff the Crime Dog along with the Okaloosa County Sheriff's Office, which will offer fingerprinting kits and other child safety information. It will also offer seminars, and ente... 03/24/2008

    Plans for a 160-foot condo tower on the Destin harbor are a good sign for the city's future, Chamber of Commerce Director/CEO Shane Moody says. "I think it means the company sees what lies ahead for the city of Destin," Moody told The Log. "The harbor is a very special place - they see the qualities that are in the harbor and can envision the development of the harbor walk and understand that is the future of Destin tourism." Giligan's Development has proposed building Harbor Reflections, a 15-story, 49,739 square-foot building with 28 condo units, on the 1.14 acres of waterfront that now house Gilligan's Restaurant and Watersports. The Destin City Council will hold its development hearing on Harbor Reflections Thursday. Development hearings are public, but they're quasi-judicial pr... 02/04/2008

All Concerts are FREE and take place in Destin Commons Center Plaza. The first 100 Snowbirds will receive a FREE Destin Commons Goodie Bag. Come with your lawn chairs and blankets and dance the afternoon away!BANJORAMASUNDAY, FEBRUARY 3, 2 - 4 PMCome hoot, howl, laugh, clap and be merry with the Ragtime Dixieland band, Banjorama. A special thanks to the Destin Snowbirds from Banjorama, whose support has been the backbone of their success. Click HERE for full concert listing SNOWBIRD DISCOUNTS 2008 AVANTGARDE SALON: Receive $5 off a shampoo / blowdryBLUE POINT FISH CLUB: 10% off entire purchaseBUILD-A-BEAR WORKSHOP: Receive $5 off a $25 purchaseDESTIN SNO BIZ: Buy one food item get the second half offEYE GALLERY: 5% off entire purchaseHARD ROCK CAFÉ: Receive a complimentary Hard Rock sou... 01/30/2008