Market Watch: Jason Seaver & Tammy Higa Seaver lose over $192,000 on sale of Bloomington home
The home: 1 Kilborn Court, Bloomington
The 3,559-square-foot home has 5 bedrooms, 5 baths, a 2-story foyer, 3 fireplaces, 3 fully finished levels, a master suite with a sitting room, Pella windows, a new fence and an integrated audio system.
The seller: Jason Seaver & Tammy L. Higa Seaver
The purchase: In August 2011, the Seavers paid $555,000 for the home, or roughly $622,755 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In August 2011, the Seavers paid $555,000 for the home, or roughly $622,755 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Seavers sold the home for $430,000 on April 24, or approximately $192,755 less than the original purchase price, in today's dollars.
The Seavers originally listed the home in mid-October 2018 for $510,000. At the end of October, they lowered the price to $499,000. The price dropped twice in November to $475,000 and $450,000.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Seavers paid $86,359 in property taxes between 2011 and 2017, or an estimated 20.08 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 |
| $555,000 | $430,000 | $86,359 |
