Market Watch: Paul & Kristen Alger lose over $212,000 on sale of DeKalb home
The home: 3043 Wolf Court, DeKalb
The 4,000-square-foot home has 6 bedrooms, 4 baths, a foyer with a balcony, hardwoods, new carpet, maple cabinets, a gas fireplace, tray ceilings in the master suite, a finished basement and a new deck with gorgeous pond views.
The seller: Paul A. Alger & Kristen E. Alger
The purchase: In December 2006, the Algers paid $399,000 for the home, or roughly $497,686 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In December 2006, the Algers paid $399,000 for the home, or roughly $497,686 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Algers sold the home for $285,000 on March 8, or an estimated $212,686 less than the original purchase price, in today's dollars.
The Algers originally listed the home in February 2017 for $274,900. In April, May and August 2017 the price was dropped to $369,900, $355,500 and $349,900, respectively. In 2018 the sale price continued to plummet all the way to $317,000. It was last listed in January at $299,900.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Algers paid $46,954 in property taxes between 2014 and 2017, or 16.48 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 |
| $399,000 | $285,000 | $46,954 |
