Market Watch: Joanna Mosley loses over $101,000 on sale of O'Fallon home
The home: 1446 Gambier Terrace Court, O'Fallon
The 2,661-square-foot home has 3 bedrooms, 2 baths, high ceilings, hardwoods, a gourmet kitchen with large breakfast bar, custom pantry, gas fireplace, master bath with a light-changing jacuzzi tub, and a basement with a finished living room and laundry room.
The seller: Joanna A. Mosley
The purchase: In June 2011, Mosley paid $392,000 for the home, or about $441,459 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In June 2011, Mosley paid $392,000 for the home, or about $441,459 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Mosley sold the home for $340,000 on April 8, or approximately $101,459 less than the original purchase price, in today's dollars.
Mosley originally listed the home for $419,500 in November 2017 and lowered the price that same month to $415,000. In December 2017, she dropped the price again to $409,000. In January 2018, the price dipped to $400,000. In March 2018, the price decreased twice to $395,000 and $379,900. In May 2018, the home was listed at $359,900.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Mosley paid $48,110 in property taxes between 2012 and 2017, or 14.15 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 |
| $392,000 | $340,000 | $48,110 |
