Market Watch: David & Kristi Battaglia lose over $206,000 on sale of Hawthorn Woods home
The home: 12 Forest View Drive, Hawthorn Woods
The 4,461-square-foot Colonial home has 4 bedrooms, 5 baths, a 2-story foyer, hardwoods, a family room with a fireplace, tray ceilings in the master suite, a gourmet kitchen, custom cabinets, stainless steel appliances, island with a breakfast bar and a fully finished walk-out basement. The home is on a 0.51 acre lot.
The seller: David A. & Kristi L. Battaglia
The purchase: In September 2003, the Battaglias paid $498,000 for the home, or roughly $683,545 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In September 2003, the Battaglias paid $498,000 for the home, or roughly $683,545 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Battaglias sold the home for $477,000 on March 29, or approximately $206,545 less than the original purchase price, in today's dollars.
The Battaglias originally listed the home for $538,900 in April 2018. They dropped the price twice in June 2018 to $533,900 and $528,900. In July, August and September 2018, they continued to lower the price to $524,900, $520,000 and $499,000, respectively. In November 2018, the home was priced at $489,000.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Battaglias paid $131,739 in property taxes between 2008 and 2017, or about 27.62 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 |
| $498,000 | $477,000 | $131,739 |
