Market Watch: James and Shannon Williams lose over $35,000 on sale of La Grange home
Illinois' highest-in-the-nation property taxes are eroding home equity and depressing home values across the state. This report is part of a SYHN News Service series on recent home sales that demonstrate the consequences.
The home: 322 N. Ashland Avenue, La Grange
The 2,171-square-foot home has three bedrooms, three baths, and is a gorgeous Victorian farmhouse with glass French doors and contemporary lighting.
The seller: James R. Williams and Shannon D. Williams
The seller: James R. Williams and Shannon D. Williams
The purchase: In September 2017, the Williamses paid $560,000 for the home, or roughly $570,014 in today's dollars.
The sale: According to Zillow, the Williamses sold the home for $535,000 on Dec. 28, or approximately $35,014 less than the original purchase price, in today's dollars.
The couple originally listed the home for $555,000 in October 2018.
The property taxes: The Williamses paid $13,849 in property taxes in 2017, or almost 3 percent of the sale price.
