Market Watch: Heidi & Kenneth Heidbreder lose over $53,000 on sale of Belleville 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: 100 Berkshire Drive, Belleville
The 2,518-square-foot home has 5 bedrooms, 3 baths, and a newly remodeled living room, dining room and kitchen. The house also has a new deck and a fenced yard.
The seller: Heidi and Kenneth Heidbreder
The seller: Heidi and Kenneth Heidbreder
The purchase: In October 2004, the Heidbreders paid $161,500 for the home, or roughly $212,541 in today's dollars.
The sale: According to Zillow, the Heidbreders sold the home for $159,500 on Jan.15, or an estimated $53,041 less than the original purchase price, in today's dollars.
The Heidbreders listed the home for $159,500 in November 2018.
The property taxes: The Heidbreders paid $14,234 in property taxes between 2013 and 2017, or approximately 9 percent of the sale price.
