Market Watch: Cathy & Joseph Talbert lose over $279,000 on sale of Wheaton townhome
The home: 2011 N. President St., Wheaton
The 2,500-square-foot townhome has 4 bedrooms, 2.5 baths, a 2-car garage, a breakfast bar, a pantry closet, an in-law arrangement,a partially finished basement, hardwoods, a fireplace and plenty of storage.
The seller: Cathy A. Talbert & Joseph H. Talbert
The purchase: In August 2008, the Talberts paid $665,500 for the home, or roughly $764,605 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In August 2008, the Talberts paid $665,500 for the home, or roughly $764,605 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Talberts sold the home for $485,000 on Feb. 20, or approximately $279,605 less than the original purchase price, in today's dollars.
The Talberts originally listed the home for $579,900 in February 2018 and lowered the price in April 2018 to $565,000. In June 2018, the home was listed at $549,900.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Talberts paid $91,509 in property taxes between 2009 and 2017, or about 18.87 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 |
| $665,500 | $485,000 | $91,509 |
