Market Watch: Bobby J. Ford Jr. & Aleshia Ford lose over $198,000 on sale of Libertyville home
The home: 14643 N. Somerset Circle, Libertyville
The 6,431-square-foot home has 5 bedrooms, 5 baths, a 2-story foyer, crown molding, hardwoods, vaulted ceilings, a butler's pantry with a wet bar, stainless appliances, breakfast area with lake views, stone fireplace, a library and a walk-out basement. The master suite features French doors with a private balcony.
The seller: Bobby J. Ford Jr. & Aleshia Ford
The purchase: In September 2016, the Fords paid $1.01 million for the home, or roughly $1.06 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In September 2016, the Fords paid $1.01 million for the home, or roughly $1.06 million in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Fords sold the home for $865,000 on April 5, or approximately $198,439 less than the original purchase price, in today's dollars.
The Fords originally listed the home for a little over $1.07 million in October 2018 and lowered the price in November to $995,000. In January, the home was listed at $950,000.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Fords paid $42,060 in property taxes between 2016 and 2017, or about 4.86 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 |
| $1,010,000 | $865,000 | $42,060 |
