Market Watch: Scott & Jennifer Rediger lose over $514,000 on sale of Hinsdale home
The home: 740 S. County Line Road, Hinsdale
The 3,680-square-foot home has 4 bedrooms, 4 baths, a newly remodeled kitchen and family room, beautiful landscaping and a brick drive.
The seller: Scott and Jennifer Rediger
The purchase: In May 2016, the Redigers paid a little over $1.87 million for the home, or an estimated $1.96 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In May 2016, the Redigers paid a little over $1.87 million for the home, or an estimated $1.96 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Redigers sold the home for $1.45 million on Jan. 30, or $514,625 less than the original purchase price, in today's dollars.
The Redigers originally listed the home in April 2018 just shy of $2 million. They lowered the price in June, July and September of 2018 to roughly $1.87 million, $1.77 million and $1.69 million, respectively.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Redigers paid $30,336 in property taxes in 2017, or approximately 2 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 |
| $1,875,000 | $1,450,000 | $30,336 |
