Market Watch: Christopher Holland & Kristin Rendina lose over $72,000 on sale of Glen Ellyn home
The home: 405 Lawrence Ave., Glen Ellyn
The 1,367-square-foot home has 3 bedrooms, 2 baths, hardwoods, a spacious master suite, a finished basement, a relaxing patio, anew shed and is on a corner lot with a wrought iron fence.
The seller: Christopher Holland & Kristin L. Rendina
The purchase: In May 2016, Holland and Rendina paid $385,000 for the home, or roughly $407,393 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In May 2016, Holland and Rendina paid $385,000 for the home, or roughly $407,393 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Holland and Rendina sold the home for $335,000 on March 29, or approximately $72,393 less than the original purchase price, in today's dollars.
Holland and Rendina originally listed the home for $394,900 in March 2018. In April, May and June 2018, they lowered the price to $389,000, $382,000 and $369,900, respectively. In July and August 2018, the price continued to drop to $365,000 and $359,900. In January, the price dropped twice to $345,000 and $339,000.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, Holland and Rendina paid $19,182 in property taxes between 2016 and 2017, or about 5.73 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 |
| $385,000 | $335,000 | $19,182 |
