PlainfieldOnline.com

A short sale is a sale of real estate in which the proceeds from the sale fall short of the balance owed on a loan secured by the property sold. In a short sale, the bank or mortgage lender agrees to discount a loan balance because of an economic or financial hardship on the part of the mortgagor. A short sale typically is executed to prevent a home foreclosure, but the decision to proceed with a short sale is predicated on the most economic way for the bank to recover the amount owed on the property.

If you want more information about short sales in the Plainfield area, or are wondering about the costs involved in listing your house as a short sale, check out www.livinginplainfield.com and the article: How much does it cost to list my house if it’s a short sale? | Plainfield IL Homes

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According to Julie Ferenzi at www.livinginplainfield.com, the $8,000 tax credit has buyers scrambling to purchase their first home before the end of the year. Apparently this program is having a positive effect on reducing the available inventory in the Plainfield IL market.

Read more about here: Busy, busy, busy! | Plainfield IL Homes for Sale

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Julie Ferenzi , a local realtor for Century 21, posted an overview of real estate closings in Plainfield for the month of June. In the month of June 2009 , 110 Plainfield IL homes closed .  She says that there has been in increase in Plainfield IL real estate activity. She’s written about 12 offers for buyers on short sale properties all over Plainfield who are hoping to close on their properties before December 1st 2009 to take advantage of the $8,000 first time home buyer tax credit.

Here is the original:
June 2009 Plainfield Real Estate Closings | Plainfield IL Homes

For more information about real estate in Plainfield, Illinois you can visit Julie Ferenzi’s blog at www.livinginplainfield.com.

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