Market Watch: Gary & Linda Baer lose over $86,000 on sale of Oswego home
The home: 531 Arbor Lane, Oswego
The 2,744-square-foot home has 4 bedrooms, 4 baths, an attached 2-car garage, a wet bar, fireplace, hardwoods, high ceilings, and a porch and deck with scenic pond views.
The seller: Gary & Linda Baer
The purchase: In May 2010, the Baers paid $375,000 for the home, or roughly $432,637 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In May 2010, the Baers paid $375,000 for the home, or roughly $432,637 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Baers sold the home for $346,000 on March 18 or approximately $86,637 less than the original purchase price, in today's dollars.
The Baers originally listed the home for $349,900 in January.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Baers paid $62,477 in property taxes between 2011 and 2017, or an estimated 18.05 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 |
| $375,000 | $346,000 | $62,477 |
