Market Watch: Daniel Weisch & Tracy Sorrentino lose over $114,000 on the sale of their McHenry home
The home: 3723 Thunderbird Lane, McHenry
The 3,292-square-foot home has 5 bedrooms, 4 baths, a 3-car garage, a full finished basement, a recreation room, crown molding, tray ceilings, a brick paver patio with fire pit, a gourmet kitchen, granite countertops and a master bath that features a whirlpool tub and separate shower.
The seller: Daniel Weisch & Tracy Sorrentino
The purchase: In July 2010, Weisch and Sorrentino paid $420,000 for the home, or roughly $484,925 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In July 2010, Weisch and Sorrentino paid $420,000 for the home, or roughly $484,925 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Weisch and Sorrentino sold the home for $370,000 on March 15, or approximately $114,925 less than the original purchase price, in today's dollars.
Weisch and Sorrentino originally listed the home in September 2018 for $385,000 and lowered the price in November to $372,000. It was last listed in January for $370,000.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Weisch and Sorrentino paid $84,633 in property taxes between 2011 and 2017, or 22.87 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 |
| $420,000 | $370,000 | $84,633 |
