Not News, But Oro Valley Home Prices Are Down By 10.5%

One of our bloggers sent us the following from Zillow.com. Surely, this is not a revelation to those of us living here.

However, it raises the issue as to why this Town Council thinks it's wise to consider burdening the citizens with a $48.6 million dollar park and a $30 million dollar Operations Center while home prices are so depressed.

Perhaps it shouldn't surprise any of us. After all, under the leadership of Paul Loomis this council has been spending our money so indiscriminately throughout the years.

We expect that to stop with this new council.

HOME VALUE TRENDS IN ORO VALLEY

According to Zillow's latest Home Value Report, home values in Oro Valley decreased 10.5% in the first quarter of 2008, compared to the first quarter of 2007. Nationally, single-family home values decreased 7.5% while condo values declined 9.0% during this same period.