Market Watch: Denedra A. Edwards loses over $58,000 on sale of Belleville home
The home: 54 Paulette Drive, Belleville
The 1,663-square-foot ranch-style brick home has 3 bedrooms, 2 baths, a 2-car garage, central air, an eat-in kitchen, a patio, porch and fenced yard.
The seller: Denedra A. Edwards
The purchase: In April 2004, Edwards paid $132,500 for the home, or roughly $177,403 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In April 2004, Edwards paid $132,500 for the home, or roughly $177,403 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Edwards sold the home for $119,000 on March 29, or approximately $58,403 less than the original purchase price, in today's dollars.
Edwards originally listed the home for $120,000 in May 2015 and tried to rent the home out in May 2017 for $1,195 per month. In August 2017, the home was re-listed for $127,000 and she attempted to rent the home again in January at $1,195 per month. In February, the sale price dropped to $119,900.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Edwards paid $15,520 in property taxes between 2013 and 2017, or about 13.04 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 |
| $132,500 | $119,000 | $15,520 |
