Marc J. Blumenthal now offers video conferencing for initial estate-planning meetings. Click here to schedule
marcjblumenthal

ESTATE PLANNING, BUSINESS,
AND REAL ESTATE LAWYER

I’m ready to get started

Real Estate

Did You Receive a Notice of Lis Pendens?

Lis pendens, a Latin term that means “pending litigation,” is a notice pronouncing that a suit has been lodged against a property. This notice can hurt the sale price or likelihood of a sale because any pending lawsuits are usually disadvantageous to the owner. A notice of Lis Pendens warns potential homebuyers that there is litigation concerning the property such as a foreclosure or dispute in the ownership of a property and a lawsuit has already been filed. Common Reasons for Filing a Lis … [Read more...]

Chicago Sees Record Number of Real Estate Closings

The Chicago Real estate market managed a powerful start in 2021, with January recording the highest number of closings in 14 years. January 2021 reported a 17.1 percent higher closing than January last year, as the market strives to compensate for lost home sales during the early months of the pandemic. A huge chunk of the increase in sales came from condos that have been falling behind until January 2021. Condo sales increased by 21.4 percent while sales of single-family homes rose by 6.0 … [Read more...]

What You Should Know About Foreclosure Protections

Mortgages financed by Freddie Mac, Fannie Mae, or the federal government have two foreclosure protections. They include a temporary suspension of foreclosures and COVID-19 hardship mortgage forbearance. These protections were availed to qualified homeowners after the enforcement of the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Since then, these protections have been expanded to offer additional help to eligible homeowners under the supervision of Fannie, Freddie Mac, and … [Read more...]

Rising Home Prices Are Straining the Real Estate Market

With home prices rising exponentially, the supply of affordable homes has dropped significantly over the years. The scarcity of safe and reasonably priced housing is hurting more potential homebuyers almost daily. Potential effects go past individual prospective homeowners, with increasing consequences for the society as a whole. How Rising Home Prices Are Affecting Home Buying Successful homeownership fosters economic well-being. Homeowners have a high likelihood of investing in their … [Read more...]

Should You Buy That Fixer-Upper?

Buying a fixer-upper can help a home buyer get a great deal on a new home. However, doing so may come with serious repercussions if the home buyer does not do proper research and understand what the process entails. From accurately evaluating the need for repairs, to ensuring the home’s price is low enough to bring a profit after the purchase, buyers need a clear understanding of what they are facing before purchasing a home that needs a lot of work. Proper Home Valuation Is Needed First, … [Read more...]

The Impact of Chicago’s First-Ever Equitable Transit-Oriented Development Plan

Many residents of Chicago find that the neighborhoods around public transportation in certain communities of the city lack adequate walkable housing. The city's Equitable Transit-Oriented Development Plan aims to change that. This plan has the potential to have far-reaching consequences for property owners in the city. Many will choose to work with a real estate attorney to fully understand the potential impacts. What the Plan Says Transit-Oriented Developments are high-density housing … [Read more...]

The COVID-19 Pandemic Is Transforming the Real Estate Industry

The coronavirus is transforming the real estate industry in Illinois, and the Windy City is enduring the pandemic’s wrath. Listings in Suburban Chicago and similar areas, however, are drawing the attention of city-dwellers and home prices in the Burbs are on the rise.  Suburban Real Estate Surge  Fear of coronavirus exposure has prompted city-dwellers across the country to flock to more spacious, less populated suburban areas in recent months. According to data from Realtor.com, … [Read more...]

Which Type of Mortgage Is Right for You?

Homebuyers have many options to consider as they shop for a mortgage, including conventional, jumbo loans, government-backed mortgages, fixed-rate mortgages, and adjustable-rate mortgages. Finding the right one helps buyers make wise financial decisions as they shop for their home. It also helps them know how much home they can afford. 1. Conventional Mortgages A conventional mortgage is one that a buyer gets from a lender and that does not have any type of government backing. These can be … [Read more...]

New Rule Puts an End to Pocket Listings in Chicago

A house model with for sale words under the frame With the implementation of the Private Listing Network, the National Association of Realtors hopes to effectively end the practice of pocket listings. When properties go on the market in the Chicagoland area, their listings get added to the multiple listing service, or MLS. From there, agents, brokers, and buyers may view the pertinent data in order to find suitable properties. Before the NAR’s new rule, however, some properties were withheld … [Read more...]

Why Chicago Real Estate Investors Are Moving On

Building construction work in a city center Future uncertainties arising from property taxes, the financial woes of the city and state, and challenges obtaining investors have pushed several Chicago-based real estate development firms to pursue projects outside the city. For the last decade, Chicago has experienced a construction boom. However, the market has recently seen a substantial drop in developers taking on new local projects; instead favoring builds in cities such as Nashville, … [Read more...]

    Get Help Today!

    Simply fill out the our online form, and one of our attorneys or staff members will contact you to schedule your appointment.

    We value your privacy. Your information will not be shared without your permission.

    The use of the internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.
    I have read and understand the disclaimer

    Memberships & Associations

    • logo
    • logo
    • logo
    • logo
    • logo
    • logo