Market Watch: Elaine & Terence Watkiss lose over $204,000 on sale of North Aurora home
The home: 1440 Hearthstone Lane, North Aurora
The 3,200-square-foot home has 4 bedrooms, 3 baths, a Whirlpool tub, all stainless steel kitchen, hardwood floors, professional landscaping and a large concrete patio.
The seller: Elaine P. and Terence W. Watkiss
The purchase: In July 2007, the Watkisses paid $475,000 for the home, or roughly $573,997 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In July 2007, the Watkisses paid $475,000 for the home, or roughly $573,997 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Watkisses sold the home for $369,000 on Feb. 22, or approximately $204,997 less than the original purchase price, in today's dollars.
The Watkisses originally listed the home in September 2017 at $389,900. In August, September and October 2018 they lowered the price to $384,900, $379,900 and $374,900, respectively.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Watkisses paid $47,329 in property taxes between 2013 and 2017, or about 13 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 |
| $475,000 | $369,000 | $47,329 |
