Market Watch: Andrae & Angela Marak lose over $48,000 on sale of Flossmoor 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: 2149 Evans Road+., Flossmoor
The 2,638-square-foot home has 5 bedrooms, 4 baths, a finished basement and a detached 2-car garage. It was built in 1939.
The seller: Andrae and Angela Marak
The seller: Andrae and Angela Marak
The purchase: In July 2012, the Maraks paid $330,000 for the home, or roughly $361,874 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Maraks sold the home for $313,000 on Dec. 20, or an estimated $48,874 less than the original purchase price, in today's dollars.
The Maraks originally listed the home for $369,900 in April 2018. They dropped the price on April 11, 2018 to $349,900 and again in June 2018 to $339,900. In August 2018, the price dropped once more to $329,900.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Maraks paid $68,686 in property taxes between 2012 and 2017, or approximately 21.94 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 |
| $330,000 | $313,000 | $68,686 |
