Market Watch: Warren Stover loses over $91,000 on sale of Zion home
The home: 4012 Cypress Drive, Zion
The 2,860-square-foot home has 4 bedrooms, 3 baths, a 3-car garage, open floor plan with fresh paint, stainless appliances, oversized loft area, Cherrywood floors, 2nd floor washer/dryer, a giant master suite with walk-in closet and California organizers. The home backs up to a beautiful and private open space.
The seller: Warren Stover
The purchase: In December 2008, Stover paid $272,500 for the home, or roughly $326,272 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In December 2008, Stover paid $272,500 for the home, or roughly $326,272 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Stover sold the home for $234,900 on March 8, or $91,372 less than the original purchase price, in today's dollars.
Stover originally listed the home in May 2018 for $249,900 and dropped the price in June 2018 to $246,000. In July and August 2018, he lowered the price to $242,900 and $237,900, respectively. It was last listed for sale in February for $234,900.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Stover paid $76,596 in property taxes between 2009 and 2017, or about 32.61 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 |
| $272,500 | $234,900 | $76,596 |
