Bob Brandt Re/Max Suburban 847-274-3193

08/09/2026

Some things to think about.

🧱 The median existing home sold for $440,600 in June 2026, which is a lot of money to leave sitting empty while a family decides what to do with it.

Not every heir wants the house, and refusing it is not the same as losing it.

Selling soon can be the cleanest exit, because the basis generally resets to fair market value at death and a sale near that value may produce little or no capital gain.

If one child wants it and the others do not, an appraisal can anchor the buyout price, and the buying heir may need financing to pay the rest their shares in cash.

A lender generally cannot enforce a due-on-sale clause just because a relative inherited the home, though inheriting the property is not the same as assuming the loan, so the heir should confirm the loan and servicing terms before renting it out.

An heir who wants nothing to do with it can make a qualified disclaimer, which for federal tax purposes generally must be in writing within 9 months, with no benefits accepted first and no say in who receives the property instead.

If the house carries a federally insured HECM reverse mortgage, heirs can repay the loan, sell the home, or turn it over to the lender, and where the balance exceeds the value, HECM rules can cap repayment at 95% of the appraised value.

The limitation worth naming is that none of these is instant, and the governing will or trust, probate timelines, liens, and state law can change every one of them.

Taxes, insurance, and upkeep continue while the estate or heirs hold the property, so the option nobody chooses on purpose is usually the most expensive one.

Did your family sell, keep, or split an inherited house, and would you handle it the same way now?

P.S. Once a week, I email the best money article I read, with my take on this week's top Facebook posts and what's new on the Ways to Wealth blog. It's free, and you can sign up on the Ways to Wealth home page.

R.J. Weiss, CFP®



*The content shared here is for educational and informational purposes only. It is not personalized investment, tax, legal, or financial advice. Consult a licensed professional before making decisions based on your specific situation.*

07/08/2026

06/16/2026

Some beautiful beaches await you in Illinois!

Illinois does not exactly advertise itself as a beach-camping state, which is what makes the good spots feel even better when you find them.

05/24/2026

As many spend the long weekend with family, friends, cookouts, and time together, Memorial Day is also a reminder to pause and reflect on the courage, service, and dedication that helped shape the freedoms we enjoy today.

The ability to gather, laugh, make memories, and enjoy moments like these is something worth appreciating.

Today, we remember and honor those who gave everything for our country. 🇺🇸

04/01/2026

Excited to share that I’ve earned my RE/MAX Suburban Certificate of Completion and am now certified in AI-powered real estate strategies.

This isn’t about selling anything—it’s about staying current and continuing to grow. The tools we have today are evolving quickly, and AI is opening up some really interesting and important possibilities, especially in how we market homes and even in the photography space. From smarter systems to faster workflows, it’s all about working more efficiently while delivering better results.

That said, technology will never replace the personal touch. I’ll be incorporating these tools where they make sense, but my focus remains the same—understanding my clients, communicating clearly, and doing what’s best for them.

A big thank you to RE/MAX Suburban for offering this education and certifying me.

A lot has changed over my 42 years as a Realtor, but the fundamentals haven’t: work hard, stay honest, and always do your best to help people.

03/22/2026

Here is a new vacant land building home site especially for airplane lovers as it backs up to a private airstrip in Genoa Illinois! It is a gorgeous flat 1 acre plus lot in Aero Lake Estates where you can build your Aviation Dream Home! It is on a cul-de-sac in a smaller, great, country Aviation community. With unobstructed views and beautiful sunsets out your door you will enjoy going out for an evening flight or sitting on your deck. Call for more information.

03/13/2026

💰 On a $450,000 home sale with a 5.5% agent commission, the commission alone is $24,750. That is before closing costs, staging, repairs, or anything related to the new home.
The scenario most people run in their heads: sell the bigger house, buy a smaller one, pocket the difference. The scenario they actually experience: 30% to 50% of that price difference gets consumed by transaction costs on both sides.

Closing costs on the sale typically run 1% to 3% of the sale price. Closing costs on the purchase run 2% to 4% of the purchase price. On a $450,000 sale and a $300,000 purchase, that is $10,000 to $25,000 in closing costs alone.

Moving costs, storage, and the inevitable furniture and update expenses on the new home add another $6,000 to $18,000. Pre-sale repairs and staging to maximize the sale price can run $5,000 to $15,000.

The expected $150,000 in freed equity can shrink to $70,000 to $100,000 after all costs. That is still meaningful, but it is not the number most people plan around.

Capital gains tax may also apply. The $250,000 single or $500,000 joint exclusion protects most homeowners, but not all. If you have lived in the home for decades and it has appreciated significantly, it is worth running the numbers.

Downsizing can still be the right call. Lower maintenance, reduced property taxes, and a home that fits your current stage of life are real benefits. The point is to run the actual math, not the headline math, before making the decision.

02/07/2026

01/04/2026

Here are two residential Airpark communities in Northern Illinois where you can live right next to your airplane and fly from your private airstrip. One is called Casa de Aero in Hampshire and the other is Aero Lake Estates in Genoa. Also in Huntley is a private airport with private hangars that is called The Landings. Like living next to your favorite Golf Course or on your favorite Lake, living next to your airplane is a dream come true for some lucky folks.