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Fort Walton Beach, FL Real Estate News

By Karen Butler, Eglin AFB/ Fort Walton Beach /Destin Relocation
(RE/MAX Coastal Properties)
 Rentals have increased for the 5th consecutive year and apartment demand continues to rise.  A rise in apartment construction isn’t likely to offer relief to tenants anytime soon either as rents will continue to rise.  Many renters may want to buy a home, but are unable to purchase a home due to poor credit scores, excessive debt and tighter credit conditions banks are continuing to impose that are preventing them from obtaining financing. Apartment rents continue to rise with the national average rent up 12 % to about $1,083  since  2009, however incomes among renters reportedly have fallen. Will a stronger job market push more people out of living with their parents or being roommates and increase rental demand?  Or will people realize the value of homeownership, and take the time t...
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By Karen Butler, Eglin AFB/ Fort Walton Beach /Destin Relocation
(RE/MAX Coastal Properties)
  While this isn't new news for many, it will be for some. You normally won't hear about it until after they announce a military pay cut on the evening news. Budget cuts are required in every area across the nation.  But why is it that when the military is forced to reduce costs, it appears our military members are hurt the most.  TriCare costs keep going up, housing is becoming privatized and members are continually told to do more with less. Meanwhile behind the scenes what you have is the Joint Chiefs of Staff literally trying to persuade Senators that the risk of reduced military readiness can be avoided by reducing or rather putting a pay cap on the the military members pay, so they may instead spend the military budget on weapons systems, ships, planes and equipment. All seven are...
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By Wendy Rulnick, "It's Wendy... It's Sold!"
(Rulnick Realty, Inc.)
This Fort Walton Beach Florida VA Compromise Sale home just went under contract after one day on the market. Located in the Overbrook subdivision at 776 Overbrook, it attracted multiple offers due to competitive pricing.  Some of the features of this home included striking ceiling heights, wood laminate floors, generous kitchen and Florida room. The VA Compromise Sale is a type of short sale for home mortgage loans back by the Veterans Administration. This VA Compromise Sale is serviced by Bank of America. Some of the requirements to get a VA Compromise Sale approved are: The borrower (seller of the VA Compromise Property) must have a hardship A VA Appraisal must be conducted Net proceeds from the sale are to be a minimum of 85.05% of the appraised value.  This is a change in the progr...
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By Captain Wayne - Rowlett Real Estate School, Rowlett Real Estate School / Owner and Instructor
(Rowlett Real Estate School)
Free Continuing Education Classes for all Florida Sales Associates and Brokers We are happy to give back to the real estate community by offering fully accredited Continuing Education classes completely free of charge in Panama City Beach, Destin, and Pensacola Florida every year in March and September. 2014 Classroom Schedule 3 HOUR CORE LAW March 17 from 8:30 to 11:30 - PANAMA CITY BEACH March 20 from 8:30 to 11:30 -------------------- DESTIN 14 HOUR CONTINUING EDMarch 17-18 from 8:30 to 3:30 PANAMA CITY BEACH March 20 -21 from 8:30 to 3:30------------------ DESTIN Classroom Locations 309 Richard Jackson Blvd. Suite 200 Panama City Beach (Commerce Bld.) 4201 Indian Bayou Trail Destin (Palms of Destin Resort)
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By Wendy Rulnick, "It's Wendy... It's Sold!"
(Rulnick Realty, Inc.)
This home at 334 Victoria Ave., Fort Walton Beach, Florida was approved for short sale and just closed.  Here are the details: Senior Lien: Green Tree Servicing Senior Lien balance:  $156,000 Junior Lien:  Green Tree Servicing Junior Lien balance:  $40,000 Current Value: $135,000 Hardship: Military PCS (Permanent Change of Station from Eglin Air Force Base) The senior Green Tree loan was backed by Fannie Mae, which considers military PCS a long-term hardship, offering short sale as an option. We had to provide a copy of the PCS orders to Green Tree to support the case.  I always recommend providing as much detail as possible to justify a hardship in a short sale situation, so we send in PCS orders automatically. Both the senior and junior lien for this Fort Walton Beach home were appro...
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By Karen Butler, Eglin AFB/ Fort Walton Beach /Destin Relocation
(RE/MAX Coastal Properties)
 What do you do when your inground pool becomes an above ground pool? This is an actual photo of what used to be an inground pool. The suspected culprit: one of the sinkholes that Florida has reluctantly become famous for.  That's what happened to some folks in Bradenton, Fl  when they came home and found their inground pool 3 feet above ground level! It's obviously a safety hazard, and will have to be literally "pushed" back into the ground.  But will the insurance company cover it?  The repair estimates are in the thousands!  Is there an "exclusion on sinkholes" in your insurance policy?   But don't get the wrong idea that sink holes are only in Florida, they are in other places as well.  And what if you were driving through what you thought was a water main break in the street, and ...
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By Karen Butler, Eglin AFB/ Fort Walton Beach /Destin Relocation
(RE/MAX Coastal Properties)
 Hardie Plank and sometimes referred to as Hardie Board siding is a combined Fiber Cement Lap Siding that can enhance the look of your home while also protecting it. Not to be confused with Wood, Vinyl or LP siding that can disintegrate over time with moisture. The fiber-cement design boasts a resistance to insects and moisture damage and designed to even withstand severe weather.  Suitable for paint or stain or can be pre-primed with a factory applied finish in a variety of colors.   • Flexible Appearance— Hardie board siding can be made to mimic just about any other siding material, including wood lap boards, cedar shingles, and wood shake siding.  To view different styles visit: http://www.jameshardie.com/homeowner/siding.shtml • Fire Resistant—  since the siding is comprised mostly ...
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By Karen Butler, Eglin AFB/ Fort Walton Beach /Destin Relocation
(RE/MAX Coastal Properties)
If you’ve ever wondered how the space is allocated or broken down in a new home, here is some great information from the National Association of Home Builders (NAHB) that you might find helpful. The average percent distribution of finished space in the typical new home built by NAHB’s is illustrated below.     In addition to an average breakdown of space in all new homes, NAHB looked at the breakdown for a small homes under 2,000 square feet) and large homes with a minimum of at least 3,000 square feet. These numbers are averages based on new construction, and may not accurately apply to the home you currently live in.  This is what their research identified:  Ø  Bedroom space accounts for the largest amount of space in your home with just under 29% of floor space in new homes, in both ...
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By Karen Butler, Eglin AFB/ Fort Walton Beach /Destin Relocation
(RE/MAX Coastal Properties)
I’ve read articles written by people who are not Real Estate Professionals, who give advice on the best way to sell your home or the best way to buy your home, without knowing anything about you or your situation. That’s like saying The top 10 ways to sell your homes are blah, blah, blah, and I know this because "I stayed at a Holiday Inn last night". A homeowner and potential seller read online that they needed to get an appraisal in advance, which they did over a year ago. Imagine the dismay when during the conversation I informed them that the previous appraisal could not be used and a new appraisal will have to be completed. To add insult to their injury, I showed them the most recent comps for their area, which were not in accordance with the previous appraisal where home values we...
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By Wendy Rulnick, "It's Wendy... It's Sold!"
(Rulnick Realty, Inc.)
Just sold! This is one of the most unique waterfront lots in Fort Walton Beach, Florida. 208 Hood Ave SE is on Choctawhatchee Bay with three sides of water frontage making it a prize lot.  At almost one-half acre, it offers incredible views and water access. It is located near Brooks Street, in the southeast portion of Fort Walton Beach.  The property was a Bank of America foreclosure. The house shown in the aerial photo has since been razed.  There was a nuisance fee for the parcel’s disprepair paid to the City of Fort Walton Beach by Bank of America in order to provide clear title.  The buyer contacted me to have an experienced foreclosure and short sale broker represent him in the sale. Very few water front lots of this caliber have been sold in Fort Walton Beach.  208 Hood Ave SE s...
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By Wendy Rulnick, "It's Wendy... It's Sold!"
(Rulnick Realty, Inc.)
  SPS and PNC have approved this Sailwatch Landing condo in Fort Walton Beach Florida for short sale. Here are the details: Original Purchase price: $679,000 First Mortgage: SPS (Select Portfolio Servicing) ** note: this was originally a Bank of America loan that was "service released" Balance: $530,000 Second Morgage: Etrade, serviced by PNC Balance: $100,000 Market Value: about $280,000 This Sailwatch Landing condo, Fort Walton Beach, Florida short sale took 120 days for SPS to approve. They asked for a complete package three times. That was frustrating. ETrade, however, approved the short sale in 30 days. They initially asked for a promissory note from the seller. This was negotiated to a full settlement at closing in exchange for a seller cash contribution. If you are thinking about...
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MLS#: 599834 OfficeFile#: ListPrice: $100,000 Status: Active ApproxSF: 460 Project: DESTIN WEST GULFSIDE VILLAS $/Sqft: $217.39 LastChng: 7/1/2013 BalconySF: 122 Address: 1517 MIRACLE STRIP PKWY , #502 Bedrooms: 1   FORT WALTON BEACH, FL Baths Full/Half: 1/0 Zip: 32548 StoriesInUnit: 1 County: OKALOOSA YearBuilt: 2006 MainArea: 12 Fort Walton Beach OccStat: Vacant SubArea: 01 OKALOOSA ISLAND ImmOcc?   ParcelID: 00-2S-24-1110-0000-0502 ConstrStat: Construction Complete ElemSch: ELLIOTT POINT Middle: BRUNER High: FORT WALTON BEACH Dir: 4 miles west of Destin. Located on Highway 98, south (gulf) side, just east of the Ramada. Legal: GULFSIDE VILLAS @ DESTIN WEST UNIT 502 This wonderful unit is close to the beach. There is a kitchenette with a cooktop, microwave and dishwasher. Relax on yo...
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By Brandon Jordan
(ERA American Real Estate)
MLS#: 591184 OfficeFile#: ListPrice: $84,000 Status: Sold ApproxSF: 1,096 BG:0 Address: 1103 GREENTREE CT $/Sqft: $76.65   FORT WALTON BEACH, FL Bedrooms: 3 Zip: 32547 Baths Full/Half: 2/0 County: OKALOOSA Stories: 1 MainArea: 12 Fort Walton Beach YearBuilt: 1983 SubArea: 07 WRIGHT OccStat: Vacant Subdiv: PINE MEADOWS ImmOcc?   ParcelID: 33-1S-24-2060-000B-0510 ConstrStat: Construction Complete ElemSch: KENWOOD Middle: PRYOR High: CHOCTAWHATCHEE Dir: GREENACRES BLVD TO MEADOW LANE...AT STOP SIGN TURN RIGHT TO GREENTREE COURT (3RD ST)...TURN RIGHT...HOUSE ON RIGHT... Legal: PINE MEADOWS LOT 51 BLK B CUSTOM BUILT FP AND SUNKEN GREAT ROOM HIGHLIGHTS THE COZY ATMOSPHERE OF THIS GREAT STARTER HOME IN POPULAR PINE MEADOWS..BAYWINDOW IN DINING ROOM..OAK KITCHEN CABINETS WITH BUILT-IN MICROWAV...
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By Kelly Klein, "Doing Great Things Today to Improve Tomorrow"
(Berkshire Hathaway HomeServices | Pen Fed Realty)
You want me to meet you at a vacant home with a lockbox on it in a bad part of town and I don't know who you are and you at first tell me you are a cash buyer.  So I ask to see Proof of Cash Funds in the way of a letter on your bank's letterhead or financial advisor's letterhead.  Oh you can't do that?  Oh, I see you are pre-approved and not really a cash buyer.  Okay, then I ask you to show me a copy of your preapproval letter.  You won't do that until you make an offer on a home.  Really, like I want to go to a vacant home and meet with you when you won't even do me the courtesy of showing me that you can afford to buy the property.  No thanks, NEXT.   Proceeds of sales go to http://www.alaquaanimalrefuge.org
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By Brandon Jordan
(ERA American Real Estate)
MLS#: 591189 OfficeFile#: ListPrice: $46,000 Status: Sold ApproxSF: 925 BG: Address: 709 BOB SIKES BLVD $/Sqft: $49.72   FORT WALTON BEACH, FL Bedrooms: 2 Zip: 32547 Baths Full/Half: 1/ County: OKALOOSA Stories: 1 MainArea: 12 Fort Walton Beach YearBuilt: 1956 SubArea: 06 OCEAN CITY OccStat: Vacant Subdiv: SUMMER TREE ImmOcc?   ParcelID: 02-2S-24-213A-000G-0030 ConstrStat: Construction Complete ElemSch: WRIGHT Middle: PRYOR High: CHOCTAWHATCHEE Dir: Take Racetrack road to truxton ave which dead ends into Bob sikes and 709 Bob Sikes. Legal: RACE TRACK ROAD S/D LOT 3 BLK G Bank owned property, great location close to everything. Single story family home with additional building previously used for a horticulture business.Cement block home with some TLC would be a great starter home or in...
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By Captain Wayne - Rowlett Real Estate School, Rowlett Real Estate School / Owner and Instructor
(Rowlett Real Estate School)
In order to get credit for completing a Florida Online Real Estate Course, you must complete all the lessons in the course and fax or mail in your "Student Affidavit" attesting to the fact that you personally completed the course yourself. In addition, some courses require a final exam. When you see the course selection list, it will indicate whether a final exam is required for a given course.  For more information on our Florida Online Real Estate Courses visit our website at www.rowlettrealestateschool.com Today was the first day of our Continuing Education Class in Destin Florida.  We finished up our core law before we let out for lunch and covered a few more chapters of the specialty courses before the end of the day.  Rowlett Real Estate School had a great turn out for the class. ...
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By Wendy Rulnick, "It's Wendy... It's Sold!"
(Rulnick Realty, Inc.)
This luxury water view condo unit at Sailwatch Landing, Fort Walton Beach Florida is almost sold.  Under contract in less than 90 days, this luxury condo has incredible water views from two sides. See Santa Rosa Sound and Choctawhatchee Bay, Brooks Bridge, sailboats and sand. The living room has two walls of windows to take it all in and corner gas fireplace. Walk out onto your full length balcony and enjoy the breeze. The kitchen is finished in granite counters and stainless steel appliances with an open view to living room and the water. There is a soundside pool and boat dock. This Sailwatch Landing unit is a short sale with SPS and E Trade, which is serviced by PNC.  The short sale approval time will be between 60 – 120 days. Check out the views at Sailwatch Landing, Fort Walton Be...
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By Captain Wayne - Rowlett Real Estate School, Rowlett Real Estate School / Owner and Instructor
(Rowlett Real Estate School)
Becoming a Florida Sales Associate is a great choice for a career.  Real estate brokers and sales agents help people to buy, sell, and rent properties. If you have good people skills and enjoy working with the public, a career in Real Estate may be just the thing for you. You can choose to make it a full time career or a part time career after becoming licensed.If you are interested in becoming a Florida licensed Sales Associate and live in the Panama City, Fort Walton Beach and Destin Flroida area join one of our Real Estate Classes.  We also have great prices on our On line Real Estate Courses.  Check out our website at http://www.rowlettrealestateschool.com for a complete line up of Florida Real Estate Courses for Brokers and Sales Associates. Give Captain Wayne Rowlett a call for mo...
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By Wendy Rulnick, "It's Wendy... It's Sold!"
(Rulnick Realty, Inc.)
This Citi Bank VA Compromise Sale in the Kenwood area of Fort Walton Beach Florida is now under contract.  641 Country Club should be sold and closed in about four months.  VA Compromise Sales with Citi Bank are processed like all other lenders. Citi Bank is the servicer of the Veterans Administration mortgage, so abides by VA Compromise Sale guidelines. Here are guidelines for a VA Compromise Sale: 1. You may only sell the home for fair market value. 2. The closing costs must be “reasonable and customary”. 3. You must have a valid financial hardship such as loss of income, relocation, death of breadwinner, PCS etc. 4. There should not be a second mortgage on your property, unless it is “insignificant”. If so, you might ask the junior lienholder to release the lien and convert it to a ...
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By Wendy Rulnick, "It's Wendy... It's Sold!"
(Rulnick Realty, Inc.)
This home at 2718 Willow Grove, in the Willow Bend area of Fort Walton Beach Florida is a Bank of America VA Compromise short sale.  On its way to sold, the home is now under contract.  VA Compromise Sales don’t get processed through Equator , which is Bank of America’s online short sale platform. All documents are faxed to them.   This Fort Walton Beach Willow Bend short sale fax will include a copy of the contract with “live” or “wet” signatures, as government investors do not currently accept electronically signed documents.  In addition, we will fax a preliminary settlement statement and a copy of the VA Relocation Circularwhich states the seller is entitled to a $1500 relocation credit.  If you don’t ask for this incentive, don’t expect to get it, by the way.  By including this ci...
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