Market Watch: Tudors lose over $203,000 on sale of Glenview 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: 46 James Court, Glenview
The 1,602-square-foot home has 4 bedrooms, 2 baths, a 2-car garage, hardwood flooring and a recently remodeled kitchen.
The seller: Maria and Cornell Tudor
The seller: Maria and Cornell Tudor
The purchase: In July 2005, the Tudors paid $440,000 for the home, or roughly $568,342 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Tudors sold the home for $365,000, or approximately $203,342 less than the original purchase price, in today's dollars.
The Tudors originally listed the home for $539,000 in March 2008. They dropped the price in June 2015 to $399,000 and continuously thereafter. In September 2018, it was listed at $375,000.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Tudors paid $90,157 in property taxes between 2005 and 2017, or 25 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 |
| $440,000 | $365,000 | $90,157 |
