Market Watch: Robert Avellini & Claudia Hopf lose over $270,000 on sale of Roselle home
The home: 1085 Flamingo Drive, Roselle
The 4,333-square-foot home has 6 bedrooms, 5 baths, a 3-car garage, a finished basement, vaulted ceilings and a gated entry.
The seller: Robert Avellini and Claudia Hopf
The purchase: In July 2003, Avellini and Hopf paid $585,000 for the home, or roughly $800,715 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In July 2003, Avellini and Hopf paid $585,000 for the home, or roughly $800,715 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Avellini and Hopf sold the home for $530,000 on Feb. 7, or about $270,715 less than the original purchase price, in today's dollars.
Avellini and Hopf originally listed the home at $599,900 in June 2018 and lowered the price in August 2018 to $575,000.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Avellini and Hopf paid $211,047 in property taxes between 2004 and 2017, or approximately 40 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 |
| $585,000 | $530,000 | $211,047 |
