Inheriting a home is a complicated process, and one that can come with emotional, legal, and financial uncertainty. While this inheritance is likely to be a financial windfall, understanding your new rights and responsibilities is key to protecting your new asset and moving forward after inheritance. Depending on the legal process by which the home is inherited, the number of individuals sharing in the property, and the relationship between the decedent and the heirs, complex legal questions can seriously affect the value of the home.

Understanding the most critical things you should know when you inherit property can help to avoid common pitfalls, maximize the value of your new asset, and can take a great deal of stress off of your shoulders at a time that is already difficult for most families.

Choosing a real estate agent isn't easy. You want to find someone who is easy to work with and who shares your values and priorities, but also someone who knows the market inside and out and who will work tirelessly to get you the best deal possible. But choosing an agent can be a difficult decision, and it's important to work with an agent who has the best training and development resources, a dedicated and knowledgeable team at their disposal, and a historic and fiercely independent brokerage backing them. Understanding what sets Baird & Warner agents apart can help you make the best decision when it comes time to buy or sell a home.

The pandemic-influenced real estate market of 2020 and 2021 led to some wild rides for Chicagoland homebuyers and sellers. Reduced inventory, shortened time on the market, and multiple offers on available properties all contributed to a market that could, for many, feel overwhelming. Even for sellers sifting through multiple offers, a pressure to act quickly could make selling a home feel fraught with risk, especially for those sellers looking to reinvest in a new home. It's no wonder that many opted out entirely, choosing to wait until the danger of the pandemic had passed and the market was more predictable.

The good news is that most experts predict that the white-hot roller coaster of a real estate market will stabilize significantly in the coming 12 months. Modest growth in interest rates, the resolution of supply chain issues that drove new construction costs skyward, and a market in which both buyers and sellers have a little more time to think should help to create a calmer environment in which both buyers and sellers have a little more time to think. Both nationally and in the Chicagoland area, our 2022 Chicagoland market forecast indicates that growth will continue, but at a significantly more stable and sustainable pace.

With all the spirit and personality of a small town, and home to excellent schools and fantastic neighborhoods, the neighborhood of Libertyville is one of Chicago's most popular suburban communities. Located in gorgeous Lake County about 30 miles from Chicago, and home to gorgeous parks, festive community events, and a turn-of-the-century downtown community, Libertyville is a destination for individuals and families alike. 

The history of what is now Libertyville began around 1830 when English settler George Vardin and his family created a small settlement called "Vardin's Grove." In 1836, during the Independence Day celebration, area residents voted to call their town "Independence Grove." Several name changes later, the name Libertyville was applied to the region around 1841. After much of its downtown was destroyed by fire in 1895, the storefronts were rebuilt in brick, and still welcome visitors today.