Market Watch: Swansea homeowner loses more than $244,000 in sale
The home: 1524 Pasteur Lane, Swansea
The 4,658-square-foot home has 4 bedrooms, 4 baths, a 3-car garage, built-in cabinetry in the great room, a coffered ceiling in the master suite, a finished walk-out basement, a deck and a fenced yard.
The seller: Colleen M. Meder (Trustee)
The purchase: In October 2005, Meder paid $526,000 for the home, or roughly $674,790 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In October 2005, Meder paid $526,000 for the home, or roughly $674,790 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, Meder sold the home for $429,900 on May 15, or approximately $244,890 less than the original purchase price, in today's dollars.
Meder listed the home for $449,900 in October 2018.
The property taxes: Based on data compiled from Blockshopper.com, Meder paid $59,188 in property taxes between 2013 and 2017, or about 13.77 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 |
| $526,000 | $429,900 | $59,188 |
