Market Watch: Brian & Christina Hansen lose over $193,000 on sale of Downers Grove home
The home: 5529 Webster St., Downers Grove
The 3,622-square-foot home has 4 bedrooms, 5 baths, a walk-in pantry, all stainless steel kitchen and a breakfast room.
The seller: Brian D. and Christina T. Hansen
The purchase: In August 2007, the Hansens paid $705,000 for the home, or roughly $853,499 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In August 2007, the Hansens paid $705,000 for the home, or roughly $853,499 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Hansens sold the home for $660,000 on Feb. 15, or about $193,499 less than the original purchase price, in today's dollars.
The Hansens originally listed the home for $750,000 in October 2018. They dropped the price in January to $725,000.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Hansens paid $58,362 in property taxes between 2013 and 2017, or an estimated 9 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.
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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 |
| $705,000 | $660,000 | $58,362 |
