Market Watch: Scott & Brieanna Monks lose over $78,000 on sale of New Lenox home
The home: 2007 Finborough Circle, New Lenox
The 2,561-square-foot home has 4 bedrooms, 2.5 baths, a wrap-around porch, open kitchen and gas fireplace.
The seller: Scott W. and Brieanna Monks
The purchase: In August 2008, the Monks paid $365,000 for the home, or roughly $418,557 in today's dollars.
The purchase: In August 2008, the Monks paid $365,000 for the home, or roughly $418,557 in today's dollars.
The sale: According to Zillow, the Monks sold the home for $339,900 on Jan.10, or an estimated $78,657 less than the original purchase price, in today's dollars.
The Monks originally listed the home for $339,900 in November 2018.
The property taxes: The Monks paid $85,945 in property taxes from 2008 to 2017, or approximately 25 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.
