Wow, it’s been crazy out there!  I’ve been back to work since Leo was about 5 days old…

That said, it’s not how I would have chose to spend his first 5 weeks of life, but this $8,000 tax credit has buyers scrammbling to purchase their first home before the end of the year… and in this sucky real estate market, I’m not taking anthing for granted.

Things are slowing down now just a bit, but there are still deals to be had.  I’ve written contracts with multiple offers… and I never thought I’d see that in this market.   They have been on mainly bank owned properties from buyers who are tired of waiting for bank approvals on their short sale offers, but none the less… they are stressful situations.

Two things affecting offers on these properties:

• the type of financing.
• closing cost concessions.

Banks are accepting the strongest offers on their properties that have the highest likeliness of closing, choosing conventional loans first, followed by conventional loans with closing costs, followed by FHA loans, and lastly… FHA loans with closing cost concessions.

Hopefully things will continue along at this pace.  I wasn’t hopeful that this program would be helpful in reducing the available inventory in the Plainfield IL market, but it looks like it has had a positive effect.  I am optimistic it will continue to keep buyers interested in becoming homeowners.

Julie Ferenzi | Realtor®
Plainfield IL Homes for Sale
630-673-6233