Market Watch: Monika & Scott Buermann lose over $120,000 on sale of Barrington Hills 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: 63 Brinker Road, Barrington Hills
The 7,200-square-foot custom home has 6 bedrooms, 7 baths, a sauna and jetted tub in the master bath, a new pool and lies on over 10 acres of land.
The seller: Monika and Scott C. Buermann
The seller: Monika and Scott C. Buermann
The purchase: In October 2016, the Buermanns paid $1.41 million for the home, or roughly $1.47 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Buermanns sold the home for $1.35 million on Jan.18, or an estimated $120,633 less than the original purchase price, in today's dollars.
The Buermanns originally listed the home for $1.48 million in June 2018.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Buermanns paid $54,782 in property taxes between 2016 and 2017, or approximately 4 percent of the sale price.
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The Financial Facts in Today’s Dollars
| Seller's Purchase Price | Amount Home Sold for in 2019 | Seller’s Property Taxes |
| $1,415,000 | $1,350,000 | $54,782 |
