Market Watch: Lifeng Jia & Jun Hao lose over $83,000 on sale of Glenview home
The home: 3211 Maple Drive, Glenview
The 1,850-square-foot split-level home has 3 bedrooms, 2 baths, a new roof, new windows, finished maple floors, granite countertops, name-brand appliances, an extra parking pad, and quartz counters and tub in the master bath.
The seller: Lifeng Jia & Jun Hao
The purchase: In September 2015, Jia and Hao paid $450,000 for the home, or roughly $476,036 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In September 2015, Jia and Hao paid $450,000 for the home, or roughly $476,036 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Jia and Hao sold the home for $392,500 on Jan.18, or $83,536 less than the original purchase price, in today's dollars.
Jia and Hao originally listed the home for $499,900 in April 2018, but lowered the price in May to $489,900. They dropped the price twice in June to $475,000 and $473,900. In July, August and October, they continued to lower the price to $469,000, $449,999 and $439,000, respectively. The home was last listed in November for $429,000.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Jia and Hao paid $14,966 in property taxes between 2016 and 2017, or an estimated 3.81 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 |
| $450,000 | $392,500 | $14,966 |
