Market Watch: Steven Lavalle & Ganna Yershova lose over $43,000 on sale of Savoy home
The home: 703 Lake Falls Blvd., Savoy
The 3,760-square-foot home has 6 bedrooms, 5 baths, a 3-car garage, high ceilings, hardwood floors, granite countertops, a walk-out basement with a home theater, guest suite, storage galore, walk-in shower with dual shower heads, a deck and patio. The home offers gorgeous lakefront views and comes with a paddle boat.
The seller: Steven Lavalle & Ganna Yershova
The purchase: In July 2014, Lavalle and Yershova paid $552,000 for the home, or roughly $588,959 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In July 2014, Lavalle and Yershova paid $552,000 for the home, or roughly $588,959 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Lavalle and Yershova sold the home for $545,000 on April 24, or approximately $43,959 less than the original purchase price, in today's dollars.
Lavalle and Yershova originally listed the home for $599,900 in June 2018 and lowered the price in August 2018 to $575,000.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Lavalle and Yershova paid $56,551 in property taxes between 2014 and 2017, or about 10.38 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 |
| $552,000 | $545,000 | $56,551 |
