Bank America has approved this Fort Walton Beach Florida home for a Ginnie Mae USDA short sale. It was a lengthy process.  Bank of America only recently added Ginnie Mae short sales to its Equator processing platform.  This file was handled through emails and phone calls directly with a Bank of America Ginnie Mae specialist.What is Ginnie Mae?  Ginnie Mae is a governmenty entity that guarantees VA, HUD and USDA Rural Housing Services mortgages.  This makes these loans more valuable as investments when sold to the secondary market, thus more attractive to mortgage servicers, such as Bank of America.What about the deficiency on a USDA short sale?  The deficiency is the amount of the note not covered by net proceeds of the sale.  According to USDA pre foreclosure sale guidelines: A bor... 08/19/2011

MLS#: OfficeFile#: ListPrice: Status: ApproxSF: 820 Project: PELICAN ISLE $/Sqft: BalconySF: 84 Address: 866 SANTA ROSA BLVD , #412 Bedrooms: 1 FORT WALTON BEACH, FL Baths Full/Half: 2/0 Zip: 32548 StoriesInUnit: 0 County: OKALOOSA YearBuilt: 2002 MainArea: 12 Fort Walton Beach OccStat: New SubArea: 01 OKALOOSA ISLAND ImmOcc? Y ParcelID: 00-2S-24-2183-0000-0412 ConstrStat: Construction Complete ElemSch: EDWINS Middle: BRUNER High: FORT WALTON BEACH Dir: FROM US 98 ON OKALOOSA ISLAND. TURN SOUTH ON SANTA ROSA BLVD AND CONTINUE APPROX. 2 MILES AND TURN LEFT ON VENUS COURT TO RESORT ENTRANCE Legal: PELICAN ISLE CONDO UNIT 412 300 feet of Picturesque Gulf Frontage will be yours to take pleasure in! Breathtaking views are only part of the package when you own at Okaloosa Islands most sought... 05/01/2011

Sq. Ft: 1990 Beds: 4 Lot Size: 1219680 (sq.ft.) Baths: 2.00 Year built 1956 Type Total Area Heated Area Exterior Wall Roof Cover Interior Wall Flooring SINGLE FAM 2,473 1,990 CONC BLOCK COMP SHNGL DRYWALL CARPET Heating Type A/C Type Baths Bedrooms Stories Year BuiltActual / Effective Building Notes AIR DUCTED CENTRAL 2 4 1 1956 / 1956 BR = REMODELING Price 110,000 Foreclosure bank owned property. Remarkable find in east Fort Walton Beach! This extra-large three bedroom block home features an office/den that can easily be used as a fourth bedroom. The roof was replaced in May 2003. The family room was totally renovated in 2004 to include all new drywall with knockdown finish and bull corners, and ceiling fan/light fixtures. The unique u-shape floorplans creates a glassed in Florida roo... 04/17/2011

When you borrow money using the equity in your home, to buy something, make repairs or consolidate bills, it is a loan. You have heard the terms Equity Line of Credit, Equity Line or even HELOC.  They all mean the same thing: you are taking out another  or 2nd mortgage on your home. And yes that money has to be repaid. When I am trying to sell your home, for $200k and you have borrowed $50,000 on average, I have to find a way to get your home sold for $250,000.  If the value of your home is only $225,000 we have a problem, because you have to come up with the additional $25,000 plus closing costs. People mistakenly think that they can finish paying for the loan after the house is sold.  NEGATIVE! You pledged your house as collateral for receiving that loan.  Therefore, they aren't tryin... 04/16/2011

The fol­low­ing is the lat­est update from DFAS on the April 15 pay­check "shortage". Due to the near shut­down last week, most mil­i­tary should have received two deposits in their bank accounts on April 15. Although active duty mem­bers and Reservists will receive two pay­ments to cover their full mid-month pay on April 15, the most cur­rent Net Pay Advice state­ments will still only show the par­tial pay­ments for the week of April 1-8. In both cases a full account­ing of April pay will be avail­able on the nor­mal end of month LES, posted to myPay accounts on April 22. Sim­ply put - Every­one (active and reserve) will get paid like nor­mal on April 15 - but they will get it in two deposits (same day) - and the LES's will be back to nor­mal on April 22. Now having said that, many peo... 04/16/2011

Sq. Ft: 1990 Beds: 4     Lot Size: 1219680 (sq.ft.) Baths: 2.00  Year built 1956 Type Total Area Heated Area Exterior Wall Roof Cover Interior Wall Flooring SINGLE FAM 2,473 1,990 CONC BLOCK COMP SHNGL DRYWALL CARPET Heating Type A/C Type Baths Bedrooms Stories Year Built Actual / Effective Building Notes AIR DUCTED CENTRAL 2 4 1 1956 / 1956 BR = REMODELING Price Assigned 119,000 Foreclosure bank owned property. Remarkable find in east Fort Walton Beach! This extra-large three bedroom block home features an office/den that can easily be used as a fourth bedroom. The roof was replaced in May 2003. The family room was totally renovated in 2004 to include all new drywall with knockdown finish and bull corners, and ceiling fan/light fixtures. The unique u-shape floorplans creates a glassed... 03/26/2011

  The Northwest Florida Fairgrounds hosts many Fort Walton Beach events yearlong.  Locals just call it the "Fairgrounds", and it's been around for 43 years, although not always in the same location.  Since 1971, the Fairgrounds has been located on about 42 acres on 1958 Lewis Turner Boulevard.  You can see everything here from the circus, dog shows, 4-H, job fairs,gun shows, fishing shows, to shopping and art extravaganzas!  You'll also find some very interesting historic military uniforms and paraphernalia on display.... ! This past weekend, the Fairgrounds hosted the Southern Classic Gun & Knife Show. There were hundreds in attendance browsing thousands of guns, both modern and historic, knives, books and more for sale. There is another gun show scheduled in Fort Walton Beach on June ... 03/15/2011

We here at Rowlett Real Estate School are proud of the good reputation and good name Captain Wayne Rowlett has built for our Florida Real Estate School.  By popular demand, Captain Wayne Rowlett has extended his classroom training schedule to accomidate the Destin, Florida and Fort Walton Beach, Florida Real Estate Agents.Captain Wayne enjoys being a real estate trainer for Rowlett Real Estate School and it shows.  He makes learning interesting and fun for his students with his outgoing personality and teaching techniques.  Captain Wayne completed another successful week of teaching in Panama Ctiy Beach, Florida this past week.  Rowlett Real Estate School class size is increasing.  We have a Pre Sales Associate Class in Destin, Florida and one in Panama City Beach, Florida scheduled at ... 03/06/2011

If you're looking for professional results, and a dedicated to the best interest of the Military members REALTOR in the Fort Walton Beach area, then you should be calling KarenButler.com! Specializing in Military Relocations and creative financing. Retiring from the USAF at Eglin AFB, Florida.  I've been there, done that and got the T-shirt! I know what it's like to relocate. My clients need, want and expect an experienced Contract Negotiator who will guide you through the real estate transaction with ease and will get you the best price and terms on your property. Making the difference between for sale & sold!  Contact me when you need a military relocation specialist in Fort Walton Beach to take the stress out of your next move!  Supporting Eglin AFB, Hurlburt Field, Duke Field, 9th R... 02/28/2011

Chase has just approved the short sale for this Fort Walton Beach Florida home in the Oakland subdivision. Since the property was a primary residence, Chase initially tried to fit the homeowner into the HAFA program (Home Affordable Foreclosure Alternatives).  HAFA is a federal program that mortgage servicers voluntarily offer with incentives to borrowers and lenders.  In this case, HAFA criteria were not met, so the property went into the Chase's regular short sale program.Chase offers options regarding the deficiency (balance remaining on the note after sale) depending on the loan type and investor. Chase may waive the deficiency if the seller makes a cash contribution at closing.  If not, the seller will have to make arrangements to pay the balance after closing. Additionally, in so... 02/28/2011

MLS#: 549688 OfficeFile#: ListPrice: $178,000 Status: Active ApproxSF: 1,100 Project: NAUTILUS CONDO $/Sqft: $161.81 LastChng: 12/23/2010 BalconySF: Address: 660 NAUTILUS CT , #2510 Bedrooms: 2 FORT WALTON BEACH, FL Baths Full/Half: 2/ Zip: 32548 StoriesInUnit: 1 County: OKALOOSA YearBuilt: 1986 MainArea: 12 Fort Walton Beach OccStat: Vacant SubArea: 01 OKALOOSA ISLAND ImmOcc? Y ParcelID: 00-2S-24-173A-0000-2504 ConstrStat: Construction Complete ElemSch: ELLIOTT POINT Middle: BRUNER High: FORT WALTON BEACH Dir: Highway 98 to Santa Rosa Blvd. (Okaloosa Island) Building 2, 5th Fl., Unit 2510. Legal: Building 2, 5th Floor, Unit 10 Excellent opportunity to own a distressed property Bank Foreclosure on this Two bedrooms and two full baths with some of the best views you will find anywhere. ... 02/26/2011

Sq. Ft: 1990 Beds: 4 Lot Size: 1219680 (sq.ft.) Baths: 2.00 Year built 1956 Type Total Area Heated Area Exterior Wall Roof Cover Interior Wall Flooring SINGLE FAM 2,473 1,990 CONC BLOCK COMP SHNGL DRYWALL CARPET Heating Type A/C Type Baths Bedrooms Stories Year BuiltActual / Effective Building Notes AIR DUCTED CENTRAL 2 4 1 1956 / 1956 BR = REMODELING Price Assigned 119,000 Foreclosure bank owned property. Remarkable find in east Fort Walton Beach! This extra-large three bedroom block home features an office/den that can easily be used as a fourth bedroom. The roof was replaced in May 2003. The family room was totally renovated in 2004 to include all new drywall with knockdown finish and bull corners, and ceiling fan/light fixtures. The unique u-shape floorplans creates a glassed in Fl... 02/03/2011

If you've been considering updating the lighing in your house take a look at this quick video first. I thought it was pretty helpful and enlightening.  Click here to view:  http://www.youtube.com/watch?v=05SSP3WKXuI     Karen Butler,  REALTOR           Karen@KarenButler.com                    850-830-8780         Coldwell Banker United Realtors, FWB, Fl        20 Years - USAF Military Veteran                     Military  Specialist                                         1st Time  Home Buyer  Counselor                            Contract Negotiation Specialist, CNS               Trusted Community Advisor                         Senior Real Estate Specialist, SRES                   Mortgage Pre Approval Resource                    Resale Home Analyst                                     ... 01/27/2011

This Blue Dolphin condo on Okaloosa Island Florida was just approved for short sale by Aurora Loan Services. Blue Dolphin is a small gulf-front complex on Abalone Court, Fort Walton Beach FL.                The original loan amount was $604,000 in 2007. Today, market value is about $340,000. Aurora Loan Services was slow to approve this Okaloosa Island short sale. They were not familiar with short-term vacation rentals, and continually asked for proof of rental income and leases. Typical short-term rentals don't have standard leases, since they are only for a day or two at a time. They are really more like hotel reservations. After numerous faxes and requests for documentation (Aurora took a week at a time to "review" any fax), we finally were able to get a negotiator. The short sale w... 01/26/2011

Last week I told you about the new WalMart opening in Niceville, there is also another one under construction in Santa Rosa County which will be smaller and not a Super WalMart.  Now they are opening another Family Dollar Store in Fort Walton Beach.  Renovations have started on the old West Marine building at 4 Eglin Parkway S.E. to transform the building into the new Family Dollar store.  It is schedule for completion sometime around July-Sept 2011.  And they will be announcing jobs availability soon, stating they would like to hire from the local area. People don't spend money if they don't have jobs and People don't build stores where people aren't spending money.    Karen Butler,  REALTOR           Karen@KarenButler.com                    850-830-8780                                ... 01/25/2011

The much controversial septic tank inspections are on hold for about another 6 months. And if the Florida Legislature takes up a bill to do away with them altogether during this year's regular session, inspections could go away forever. The bill postponing inspections passed during the Legislature's special session in November, but the Legislature did not submit the bill until the day incoming Gov. Rick Scott took office. Hmmm...Scott then had 15 days to veto the bill or sign it into law. With Scott choosing neither option the bill became law.Officially, Florida's mandatory septic tank inspections - and payment of the fees that accompany an inspection - become official on July 1, 2011, unless the Legislature passes a new bill that Scott doesn't veto. One bill cancelling the inspections ... 01/24/2011

 I don't care if those Max Hedroom talking heads on the "Nightmare News Cable" Channels won't say it, I'm telling everybody in case you didn't know... The National Association of Realtors posted the latest numbers that said...  Existing homes sales shot up 12.3% in December, coming in well above most estimates from 4.55 - 5.04 million and giving the US economy that needed growth spurt in the last six months of the year ending 2010.  No, I'm not saying break out the champagne, this is still a pretty long road trip, so I hope you packed a lunch.  The current inventory of existing homes was reportedly 3.56 million, which is an 8.1-month supply and down 4.2% from November when inventory represented a 9.5-month supply.  These are the National numbers.  We were sitting here in the Florida Pan... 01/20/2011

Vision Airlines just announced that it is adding service in the Eastern U.S. beginning March 25th,  with flights between Northwest Florida Regional Airport (which services the Fort Walton Beach area) and cities including Asheville, N.C., Atlanta, Miami, the Orlando area, and other cities in Florida and the South. Some fares may initially as low as $49 one way, will go on sale today Jan 18th for trips between the beach communities of northwest Florida and such cities as Baton Rouge, Knoxville, Tenn., and Little Rock. In December it added twice-a-day flights between Louisville, Ky. and Atlanta, and from Niagara Falls International Airport in New York to cities in Florida including one from that left from our new International Airport located between Destin and Panama City. Some of Vision'... 01/18/2011

This lightning speed short sale approval for a Fort Walton Beach Florida townhouse in Shangra Woods was a great way to start 2011. How long did it take? 15 days! December 20: Short Sale package faxed to Citi Mortgage December 29: Negotiator assigned (who says people don’t work over the holidays?) January 4: Approved! This Fort Walton Beach short sale seller had one mortgage, which helped the process.  This was not all “slam-dunk”, but close. Citi slightly countered the purchase price with a minimum net requirement.  I questioned the settlement statement, asking if all fees would be approved if the net were met.  The buyer had asked for 6% closing cost credit.   Citi limited the amount to 3%.  (Many short sale lenders will not pay more than 3% if they even agree to extra closing costs f... 01/06/2011

While the attached bulleting has come from Citizens Insurance, I'm pretty sure the other carriers will be following suit, to maintain the integrity of the program.  Wind Mitigation inspections can  but are not guaranteed to reduce homeowner insurance premiums for those home built prior to 2002 that meet the criteria such as having roof clips. So if you have considered getting one, I've seen the cost range from $75-$150, make sure you you are paying someone who meets the new criteria for the insurance companies, otherwise, you may find yourself having to pay for an additional one.  Per Citizens bulletin, 4-Point inspections will require a Division 1 State Certified Contractor license or a Florida Home Inspector License beginning February 1, 2011, membership in the associations,  NACHI, A... 01/04/2011