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1254 Ego Drive, Crestview Florida just sold as a short sale. It was a Bank of America VA Compromise Sale. The Countryview Estates home had serene landscaping with a Japanese maple tree, asian benches, St. Augustine grass and enormous patio. Inside, wide open spaces in the dramatic living room open to dining. Kitchen was bright and big with center isle. The soothing master bedroom was separate from secondary bedrooms. The Countryview Estates home was 1688 square feet. The sale price was $132,246.

Bank of America approved this VA Compromise short sale in about four weeks. How so quickly? There was an existing VA appraisal. VA appraisals for compromise sales are good for six months. I knew the required net and ensured the purchase price, closing costs and terms would be acceptable in advance. And the negotiator said I was good to work with.

It's Wendy!

Wendy Rulnick, Broker, Rulnick Realty, Inc.

If you need to do a short sale, VA Compromise sale or HAP sale, be sure to contacted an experienced Crestview real estate agent.

Call toll-free 1-877-ITS-WNDY (1-877-487-9639) or local 850-650-7883 ext 204

Email Wendy: itswendy@rulnickrealty.com

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The military's Homeowner Assistance Program is getting speedier all the time! I just had another HAP contract approved, this time for a Crestview Florida home sale in the Redstone subdivision. The sellers were PCSing from Eglin Air Force Base more than 50 miles away. They purchased their home prior to July 2006, their property value had declined at least 10% and they met other HAP requirements. Primarily, they owed more on their mortgage than the property was worth.

That's where HAP comes in to help our military service members. HAP will pay the mortgage shortfall at closing to assist the service member relocate to a new base.

For this Crestview Florida HAP sale, the airman sent in a complete application along with the real estate contract and market analysis which I provided. HAP approved the sale in about four weeks.

Here are some quick hints for Eglin Air Force Base or Hurlburt Field HAP sellers:

HAP will normally contribute 3% of the purchase price for closing costs on conventional sales.

HAP will pay the Realtor fee.

You must keep your mortgage current, pay any liens, judgments and prorated property taxes.

To speed your approval process, always send in a complete application, and hire an experienced HAP real estate 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

The National Association of Realtors has reported that pending home sales have increased 5.2%, which was mostly unexpected by some due to the dramatic drop of home sales in July....

Was it that unexpected????

Not really, in my honest opinion. In our local market, we saw a gigantic increase in pending home sales during the month of March. No big surprise since buyers in most markets took advantage of the tax credit - especially at the last minute. Simply stated, those who were able to purchase sapped up our existing inventory and those who weren't...didn't. However, they did go home and work on those issues needed to increase their score, saved a little more money....and 5 to 6 months later.... VOILA!!!

I know that there's chatter about another homebuyer tax credit, but the peaks and valleys brought on by the first one is just too much for my skittish nature. I think that it's time for us to allow the market to correct itself.

This spaciously beautiful 4 bdrm/ 2 bth brick ranch with a finished partial basement was originally purchased with an FHA mortgage for $131,000 in 2006. We were able to get the sellers into the FHA Pre-Foreclosure Sales Program and successfully sold the home for $49,900. The sellers received $900.00 back at closing to assist in moving expenses AND A FULL WAIVER OF DEFICIENCY. The buyer received 3% in closing costs. The seller now owes their mortgage company NOTHING!!!!