the wasserblawg

By Michael H. Wasserman Paying property tax bills before the end of the 2017 may help some owners save on their federal income tax liabilities. The Tax Cuts and Jobs Act has been called the most sweeping tax reform bill in decades. Like it or not, tax reform is coming. Others might wring their hands with glee or with worry. We are already working on ways to minimize the pain this reform might cause.  One aspect of the pending tax reform plan presents a clear challenge for most Chicagoland home owners, the elimination of deductions for State and Local Taxes (SALT). The house and senate plans both limit deductibility to $10,000. Once the tax reform is signed into law, we will pay federal income taxes on the money we use to pay our local taxes exceeding that $10,000 threshold. Some homeowners who have the foresight (and lets face it, the savings) to act swiftly may want to pre-pay their first installment 2017 property tax bills this year before the tax laws kick in, so...

O ne hundred reviews ago, our firm didn’t take Yelp seriously. We knew word of mouth was important, and that Yelp was an easy way for people to leave reviews about pizza joints, taverns and such. But then Yelp grew. As did our reviews. And they were mostly good.

Our real estate law firm loves Chicagoland. We live here; we work, cycle and play here. Most of us grew up here. We give back to our community here too through “Thanks to You,” our charitable program. With great pride and gratitude, we have delivered more than $48,000 in charitable donations since 2012. And we have pledged more than $8,000 this year so far.

Let’s say about 100 years ago, a family planted an oak tree on the edge of their property. Over generations it’s grown into a magnificent tree that provides summer shade, autumn color and a swing for the neighborhood kids. You probably even liked the tree when you bought the house next door to it. But today, its root system is invading your basement, its acorns bombard your yard and its huge limbs loom threateningly over your roof. By law, can you cut it down? Trim it? Turn it into a boat?

By Michael H. Wasserman When it comes to identity theft, credit card spending is only the tip of the iceberg. Not only are  thieves using stolen information to go shopping on your Visa card, they are scamming medical insurance, falsifying citizenship / immigration status and travelling and using false (your) credentials. They also want to use your information to take away your home—or at least your hard earned home equity. Recent data security breaches at Equifax  (and who-knows-what other attacks) leave us all vulnerable to these gambits. I recently offered up six steps to take to protect yourself from the Equifax breach…and today, for readers who already own or are in the process of buying real estate, I suggest one more step: property fraud alerts. Chicago area property owners can and should sign up for FREE property fraud alerts through their local county Recorder of Deeds. These alerts will let you know if any documents affecting your property are filed in their...

Imagine a quiet evening on the deck of your new home when—out of nowhere—a noisy drone begins hovering around your property, almost certainly snapping photos or video. It’s like Space Invaders meets Gladys Kravitz . So what do you do?

We’ve updated mhwasserman.com to be user- and mobile-friendlier. From streamlining the look and including reviews to adding photos of our team, we’ve made it easier to help sellers, buyers and brokers understand how we get them to the closing table on time, as planned. Left/Before: While good looking, the former site was difficult to navigate on mobile phones. Right/After: The new site is easier to navigate and share. It’s also easier to view when you’re on the run. Stay tuned! The new look is just the first step, soon we'll add a real estate resource section, where you will find checklists, links and forms that help simplify the often-complex real estate process. Check us out at mhwasserman.com . Questions? Compliments? You can still call me at 312.726.1512—some things haven’t changed.

Identity thieves hit a major credit reporting agency—hard. Millions of consumers’ confidential identity information has been compromised. Equifax, one of the big three credit reporting agencies announced that a massive security breach took place earlier this year. Offenders accessed data sets of 143 million US consumers.

by Michael H. Wasserman You read that right, A 480 percent increase according to a May 2017 PSA from the FBI. Its Internet Crime Complaint Center (IC3). Scammers are targeting wire transfers with alarming frequency. As state law mandates the use of wire transfers for most real estate transactions, it's vital that every buyer, seller and professional be vigilant to prevent fraud. Here's what to look for and what you can do to help protect your money - your deal. Check the Source: Wire transfer fraud typically starts with a "phishing" email that looks ok at first blush, but is a fake. Real-looking but fraudulent emails may contain: A slightly different email address. It could be just one character off. Or using a correct name but from a free account, like gmail, aol or yahoo. Legit-looking logos and email footers. Remember, logos can be downloaded from public websites from title companies and banks. A working phone number for confirmation. So, if/when you ca...

--> by Michael H. Wasserman I’m so very happy to welcome attorney John Aylesworth to the practice. He joined us in February 2017 and our clients and colleagues have been reaping the benefits of his good counsel all spring and summer. John is hardly new to our practice; He has worked with us on individual cases for several years already. Now that he is with us full-time, we are able to help even more buyers and sellers move through the real estate process with sanity intact. John really hit the ground running this year, so you may have already met him. John brings a great balance of calm and strength, and has a broad depth of experience in residential and commercial transactions, and new condominium development. He brings a roster of his own clients, many of whom consider him an invaluable counselor and friend, another great sign for us. Like me, John strives to provide great service to our clients and brokers. He works hard to get contracts to the closing table, o...