ArcaMax

Q: I live in a 300-plus unit condo complex. There are two things going on in our condo that seem like inappropriate board overreach.

First, the new president has required that the Pledge of Allegiance be recited before meetings. But American citizenship is not required to own property in Illinois. Plus, reciting the pledge has nothing to do ...Read more

Q: I live in California and read your article earlier this year about a new way for homeowners to tap their equity without selling. I am living off of an annuity, but when that runs out, I want to be able to tap the equity in my home and I’m not sure what is the best way to do that.

My choices are to use a reverse mortgage, sell my home, get ...Read more

Q: We have a very nice mid-’50s home in a great neighborhood. We are only the second owners of the home. It’s well maintained, but its “2025” shortcomings are it has one bathroom, one garage space and two bedrooms. We are near town and the train line. Comparable condos in town are selling for much more than I think we could expect.

Our ...Read more

Once again, the real estate market finds itself in uncertain times.

The federal government shutdown is creating uncertainty in residential real estate markets. While some economists predict mortgage rates could drop slightly as investors move toward safer bonds, housing experts warn that economic volatility and processing delays may offset any ...Read more

Q: My parents live on two acres of land in Wisconsin, and they own the two acres of land next to them. My parents, my husband and I have agreed that we (my husband and I) will build a house on that extra two acres of land.

An estate attorney sent us to a real estate attorney who recommended that we do a quitclaim deed. The first option was to ...Read more

Q: My daughter’s name was added to the title to her mother’s home so that she could inherit the house tax free. Her mom has now died and my daughter is selling the home. What are the tax consequences?

A: This is our least favorite way for parents to pass on ownership. When you add a child’s name to the title, you’re essentially gifting ...Read more

Q: I live in a 30-unit condo association that has very inadequate cash reserves. Prior owners neglected the building’s maintenance for years, leaving the current owners responsible for their neglect.

We usually need to require two extra monthly assessment payments from homeowners each year to simply hobble along until the next catastrophe. ...Read more

Q: I know this may not be the right place to make this point, but after reading a ThinkGlink.com article about selling a house “as is” I wanted to share something for your team to consider.

Personally, having bought and sold a number of properties over the years, I would never trust a Realtor alone to tell me what needed to be done to a ...Read more

Q: My husband signed a quitclaim deed to me for our house. Then shortly after he did that, we both signed a living trust document. Does the living trust override the quitclaim deed given to me by my husband, thus giving him ownership of the house again? Or does the quitclaim deed stand firm? The property tax bills come to both of our names, and ...Read more

Q: My mom left a will stating all of us are to receive an equal portion of her estate. It names my eldest and younger siblings as executors.

My brother and his wife have been trying to take my parents’ home for years. They have told us they are paying $150,000 for the house due to the work it needs. The home is a two-story, brick home on two ...Read more

Q: I enjoy reading your column. I recently moved, and listed my home in as-is condition on Facebook. I also have a “for sale by owner” sign on my lawn. I’ve had no serious offers in the past six weeks.

Last week, an agent stopped by and proposed listing my home. She would pay for some repairs, cleaning, and replace a few old appliances. I...Read more

Looking back over the past 32 years we’ve been writing this column, there have been some incredible technological and financial advances that have changed the way literally everyone searches for, pays for, and closes on residential real estate.

In this last installment, which is Real Estate Matters column No. 1,701 (for those of you keeping ...Read more