In Pasco, location key to amount of home value drop

In southwest Pasco County's Beacon Square community, the housing decline is reflected in the roster of recent home sellers dumping properties for as little as $50,000: NovaStar Mortgage, Wachovia Bank, Bank of New York. In Wesley Chapel's Seven Oaks community, on the edge of the bustling New Tampa suburbs, new-home sales are helping prop prices above $350,000. Bank foreclosure sales are comparatively scarce on the ground. Since the housing boom ended in 2006, home prices have plunged 45 percent in Beacon Square, but only 9 percent in Seven Oaks. Beacon Square is the most depreciated community in Pasco County. Seven Oaks is the least.

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