Market Watch: Willie Clarkson loses over $13,000 on sale of Oswego townhome
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: 408 Valentine Way, Oswego
The 1,520-square-foot townhome has 3 bedrooms, 3 baths and was built in 2010.
The seller: Willie Clarkson
The seller: Willie Clarkson
The purchase: In September 2010, Clarkson paid $178,000 for the townhome, or roughly $204,722 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Clarkson sold the townhome for $191,500 on Jan.18, or an estimated $13,222 less than the original purchase price, in today's dollars.
Clarkson originally listed the townhome for $204,900 in October 2018. He dropped the price in November 2018 to $199,500, the price where it remained until the sale.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Clarkson paid $23,722 in property taxes between 2013 and 2017, or approximately 12.39 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 |
| $178,000 | $191,500 | $23,722 |
