Market Watch: Brian & Kim Demos lose over $430,000 on sale of Plainfield home
The home: 25865 W. Prairie Hill Lane, Plainfield
The 4,937-square-foot home has 4 bedrooms, 4 baths, a 4-car garage, a wrap around porch, brick patio, outdoor fire pit, pergola, Brazilian oak floors with walnut inlay, floor to ceilings windows, his and hers walk-in closets in the master suite, maple kitchen cabinets and a large recreation room.
The seller: Brian & Kim Demos
The purchase: In May 2006, the Demoses paid $789,000 for the home, or roughly $980,744 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In May 2006, the Demoses paid $789,000 for the home, or roughly $980,744 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Demoses sold the home for $550,000 on Mar. 25, or approximately $430,744 less than the original purchase price, in today's dollars.
The Demoses originally listed the home for $600,000 in September 2018 and in October 2018, they dropped the price to $589,000. In November 2018, they lowered the price to $585,000. It was last listed in January for $569,000.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Demoses paid $189,499 in property taxes between 2008 and 2017, or about 34.45 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 |
| $789,000 | $550,000 | $189,499 |
