Market Watch: Michael & Susan Salazar lose over $210,000 on sale of St. Charles home
The home: 39W745 Goldenrod Drive, St. Charles
The 7,685-square-foot home has 4 bedrooms, 6 baths, a 2-story foyer, a 2-story family room with a wall of windows, crown molding, wainscoting, a walkout lower level with a private theater, a huge walk-in closet in the master suite, a large deck, a brick paver patio and gorgeous water views.
The seller: Michael G. & Susan Salazar
The purchase: In July 2015, the Salazars paid $880,000 for the home, or roughly $942,294 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The purchase: In July 2015, the Salazars paid $880,000 for the home, or roughly $942,294 in today's dollars, according to the U.S. Bureau of Labor Statistics.
The sale: According to Zillow, the Salazars sold the home for $732,000 on May 24, or approximately $210,294 less than the original purchase price, in today's dollars.
The Salazars originally listed the home for $979,000 in December 2016. They lowered the price in April 2017 to $959,000. In May 2017, the price dropped twice to $949,000 and $925,000. By June 2017, the home was priced at $899,900.
The property taxes: Based on data compiled from Blockshopper.com and Zillow, the Salazars paid $65,461 in property taxes between 2015 and 2017 or about 8.94 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 |
| $880,000 | $732,000 | $65,461 |
