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 [...]

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

In the month of June 2009 , 110 Plainfield IL homes closed .  I can definitely say that there has been in increase in Plainfield IL real estate activity. This month I’ve written about 12 offer 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