Market Watch: Salvador & Sarahi Mora lose over $248,000 on sale of Norridge home
The home: 8056 W. Giddings St., Norridge
The 5,500-square-foot home has 6 bedrooms, 5 baths, a 2-car garage, heated bathroom floors, hardwoods, a custom kitchen with top-of-the-line appliances, a wine cellar and a sauna house.
The seller: Salvador & Sarahi Mora
The purchase: In October 2009, the Moras paid $849,000 for the home, or $988,557 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In October 2009, the Moras paid $849,000 for the home, or $988,557 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Moras sold the home for $740,000 on Feb. 12, or for about $248,557 less than the original purchase price, in today's dollars.
The Moras originally listed the home for $1.08 million in February 2018 and lowered the price in June 2018 to $985,000. In September 2018, the price dropped to $899,500. It was last listed in October 2018 at $879,500.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Moras paid $109,890 in property taxes between 2010 and 2017, or 15 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 |
| $849,000 | $740,000 | $109,890 |
