Market Watch: Aaron & Mona Erter lose over $421,000 on sale of Glen Ellyn home
The home: 682 Hillside Ave., Glen Ellyn
The 6,084-square-foot home has 5 bedrooms, 5 baths, an expansive front porch, professional landscaping, a walk-out basement, an enclosed backyard patio, a steam shower and jetted tub in the master bath, a double-oven, heated floors, a sports court, and a finished attic.
The seller: Aaron and Mona Erter
The purchase: In May 2017, the Erters paid a little over $2.07 million for the home, or roughly $2.13 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In May 2017, the Erters paid a little over $2.07 million for the home, or roughly $2.13 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Erters sold the home for $1,712,500 on Feb. 22, or an estimated $421,672 less than the original purchase price, in today's dollars.
The Erters originally listed the home for $2.25 million in July 2018 and lowered the price in August 2018 to $2.15 million. In November 2018, the price was dropped again to roughly $1.94 million; and by December 2018, the home was down to a little under $1.85 million.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Erters paid $42,712 in property taxes in 2017, or about 3 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 |
| $2,075,000 | $1,712,500 | $42,712 |
