Market Watch: Trinity Haskins loses over $252,000 on sale of Bourbonnais home
The home: 1088 Country Lane, Bourbonnais
The 3,404-square-foot custom home has 6 bedrooms, 4 baths, hardwood floors, a butler's pantry, a walk-in pantry, a double oven, breakfast nook, plantation shutters, a finished basement with a separate kitchen, a 2-tier deck and a home library.
The seller: Trinity L. Haskins
The purchase: In March 2005, Haskins paid $499,000 for the home, or roughly $649,789 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In March 2005, Haskins paid $499,000 for the home, or roughly $649,789 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Haskins sold the home for $397,500 on March 29, or approximately $252,289 less than the original purchase price, in today's dollars.
Haskins originally listed the home for $479,000 in May 2016. She dropped the price in February, April and May 2017 to $$449,900, $439,900 and $419,900, respectively. She lowered the price twice again in July 2017 to $414,900 and $409,900. The price continued to plummet in August and November 2017 to $409,900 and $399,900. The home was taken off the market in 2018, but relisted at $419,900 in February.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Haskins paid $111,159 in property taxes between 2006 and 2017, or an estimated 27.96 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 |
| $499,000 | $397,500 | $111,159 |
