Market Watch: Bryan & Sara Meyer lose over $172,000 on sale of Hinkley home
The home: 16053 Owens Road, Hinkley
The 2,950-square-foot home has 5 bedrooms and 2.5 baths. This is a modern farmhouse on 2.21 acres with a large barn and a 40-foot-by-40-foot workshop in its own separate outbuilding.
The seller: Bryan P. and Sara A. Meyer
The purchase: In September 2006, the Meyers paid $445,000 for the home, or roughly $552,054 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In September 2006, the Meyers paid $445,000 for the home, or roughly $552,054 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Meyers sold the home for $380,000 on Feb. 15, or approximately $172,054 less than the original purchase price, in today's dollars.
The Meyers originally listed the home for $385,000 in February 2011.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Meyers paid $17,464 in property taxes between 2014 and 2017, or about 5 percent of the sale price.
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 Financial Facts in Today’s Dollars
| Seller's Purchase Price | Amount Home Sold for in 2019 | Seller’s Property Taxes |
| $445,000 | $380,000 | $17,464 |
