Milford Real Estate Sales Still Slumping

From www.trulia.com "Average price per square foot for Milford CT was $217, an increase of 10.2% compared to the same period last year. The median sales price for homes in Milford CT for Feb 10 to Apr 10 was $265,000 based on 58 home sales. Compared to the same period one year ago, the median home sales price increased 0.6%, or $1,500, and the number of home sales decreased 35.6%.

There are currently 489 resale and new homes in Milford on Trulia, including 51 open houses, as well as 112 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Milford CT was $424,142 for the week ending May 05, which represents a decrease of 0.3%, or $1,439, compared to the prior week. Popular neighborhoods in Milford include Post Road North and Milford's North End, with average listing prices of $334,914 and $424,142."

Milford Real Estate Report

The following assessment is from the real estate experts at Trulia. Trulia is a market forecaster, and analyst site that specialized in providing data to people interested in real estate trends.

One important item to note is that the first time home buyer credit has skewed the average selling prices of local homes to the negative side. The Federal program offers an incentive to buy lower cost qualifying homes.

This is their current assessment for Milford.

"Average price per square foot for Milford CT was $194, a decrease of 14.5% compared to the same period last year. The median sales price for homes in Milford CT for Nov 09 to Jan 10 was $240,000 based on 96 home sales. Compared to the same period one year ago, the median home sales price decreased 12.2%, or $33,500, and the number of home sales increased 15.7%.

There are currently 374 resale and new homes in Milford on Trulia, including 29 open houses, as well as 28 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Milford CT was $414,721 for the week ending Feb 17, which represents an increase of 1.2%, or $4,942, compared to the prior week. Popular neighborhoods in Milford include Post Road North and , with average listing prices of $346,394 and $414,721."

Source is www.trulia.com

Still No Improvement In Milford Real Estate Market

The following evaluation of Milfords Real Estate market was published by Trulia.com. Trulia is a Real Estate Market research group specializing in residential Real Estate Trends.

The representations made by Trulia are those of the experts, and market researchers only and not an opinion expressed or implied by myself or anyone at the MDB.

TRULIAS EVALUATION ON THE MILFORD REAL ESTATE MARKET

"Average price per square foot for Milford CT was $194, a decrease of 24.8% compared to the same period last year. The median sales price for homes in Milford CT for Sep 09 to Nov 09 was $245,000 based on 137 home sales. Compared to the same period one year ago, the median home sales price decreased 15.5%, or $45,000, and the number of home sales increased 3%.

There are currently 333 resale and new homes in Milford on Trulia, including 41 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Milford CT was $443,596 for the week ending Jan 13, which represents a decrease of 2.3%, or $10,502, compared to the prior week. Popular neighborhoods in Milford include Post Road North and , with average listing prices of $345,615 and $443,596."

(Above photo of a recently sold home in Milford)

Milford's Animals Get A Gift

The following photo was taken from Frank Juliano's Milford Musings site (Link Below) of animals being helped in Milford. With my brother and Father both being Veterinarians I am always happy and grateful to see people in our community helping animals. Thank you to the Remax staff for thinking of God's creatures this Holiday Season.

Staff from REMAX Real Estate presents a donation to Scott Ellingson, the city’s assistant animal control officer, to buy pet food and treats for shelter animals.

First Time Homeowner Credit Stirs Milford Real Estate Market

The Obama administration introduced many capital injections into our economy. From "Cash For Clunkers, Unemployment Extensions, Banker Bailouts, and the First Time Home Buyer Credits."

The "Home Buyer Credit" gives $8,000.00 to first time home buyers who have decided to purchase a modest home. Realtors have been pushing otherwise unwilling buyers to get into that first house and quit renting. The $8,000.00 credit has been a great selling tool and we have seen "ups and downs" in the property transfers here in town.

The property transfers seem to have either less than ten properties sold or in some cases 20-30. Their seems to be very little consistency in the numbers from week to week.

This is especially true on the lower priced homes that have become more affordable thanks to the homeowner credit. This program, although a great program for a new buyer has had a significant effect. This effect has resulted in artificially skewing real estate numbers in Milford and putting our Real Estate marked into an uncertain future.

If anyone looked at the stats they will see that smaller energy efficient homes have retained their value much better than larger three and four bedroom homes that have actually declined significantly in value.

A local realtor I spoke with said that the "First time home buyer credit" has been a stellar program and has helped sell many homes that otherwise may have not been sold. She fears that when the program ends and without additional incentives or improvement in the overall economy home sales may return to being sluggish.

This is an assertion that is, some what contradicted by a Yale New Haven professor who said this months increase was good news, and that the uptick in markets is better news. However, we should not go and celebrate a rebirth in the Real estate market just yet because the economy is still on shaky ground. He believes that we may be entering a new bubble and confidence may be the answer not the First time Home Owner tax credit.

Robert Schiller was formerly a quantitative forecaster of the real estate market indexes and he said that the monumental shift in the index to the upside has caused him to put his expertise aside. Shiller states the numbers are beyond what he was taught as a forecaster and until we see solid momentum we may be looking at the beginning of another bubble.

While we all instinctively know things in the Real Estate market are different, those out there looking to develop property for profit, or relocate to a new house should consider their actions much more carefully. The Real Estate Market will continue to be volatile, and since for many buying a house is likely to be the largest financial transaction in a persons life, the extra due diligence could not hurt.

(Photo of quantitative forecaster Robert Shiller of Yale University)

Link on this page goes to video

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Schiff Adds His Thoughts On Real Estate
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This Weeks Property Transfers

1 Bayberry Ln, Ann Dolores Kelly and Marylou Olsen to George T. and Joan A. Blaszczyk, $330,000.

30 Argyle Rd, Donald E. Robinson to Melissa Nelson, $257,000.

14 Barn Ln, Joy Arthur Est and Rebecca Joy-Buck to John B. and Gladys Sporko, $85,000.

49 Corona Dr, Frank and Sueli Sirena to Robert E. Cincotta, $274,000.

89 Crestwood Rd, Ethan D. Mitkowski and Allison M. Frank to Kurt Fasulo and Kara Ryan, $315,000.

21 Greenview Ln Unit 21, Robert R. and Valentina Cascella to Biagio Padula, $224,000.

37 Indian River Rd, Russell J. and Patricia A. Crowley to David M. Saracin, $195,000.

9 Marble Ln, Susan Defranceso to Sandra Lee and Ronald F. Richards, $75,000.

162 Mary Ellen Dr, Marilyn P Boone RET and Marilyn P. Boone to Dennis J. Spillane, $292,500.

18 Melba St Unit 102, Ocean Point LLC to Lance C. Jensen, $269,900.

446 Naugatuck Ave Unit 446, Southwind Cove LLC to Bozena Szajkowska, $293,000.

29 Pearl Hill St, Raymond L. Mascola and Valerie J. Fuller to Suzanne Mount, $214,000.

321 Popes Island Rd Unit 321, Philip C. Pilletere to Curtis Rias, $300,000.

61 Shea Ave Unit 61, Mary Ann Spangler to James C. Scofield, $189,000.

534 Swanson Cres Unit 534, Angela Bradley to Christian Miron, $182,500.

For pictures or more information on a property Click HERE

This Weeks Real Estate Transfers

94 Coram Ln, Egidin and Lidia Testani to David T. and Emily C. Luxender, $575,000.

74 Elaine Rd, Susan J. Kozak and Florence M. Pipe to Steven P. and Thy Mclean, N/A.

86 Fairview St, Audrey Stella to Christopher Tube, N/A.

229 Lookout Hill Rd, George T. Hewriah and Pamela A. Morrow to Elizabeth Nemergut, $442,500.

436 Milford Point Rd, Rui F. Goncalves to Christopher J. Piatt, $205,000.

179 Robert Treat Pkwy, Michelle K. Schmidt and Indymac Bank FSB to Indymac Bank FSB, $1.

485 Woodruff Rd, Elaine Marie Fogler to Rachel and Scott Gaudet, $369,000.

7 2nd Ave, US Bk and Mastr Asset Backed Sec to Craig Rua, $216,000.

245 Acorn Ln Unit, Imran Mughal to Varaprasad Sikhinam, $415,000.

12 Blair St, Eva Wingate to John A. and Helen E. Dinoia, $240,000.

120 Bridgeport Ave, Christina Darcongos and Daniel Bagley to Milford City Of, $160,000.

653 Casewell Cv Unit 653, Radhika Mather and Bangalore W. Deephak to Angola Arnolle, $270,000.

19 Cedarhurst Ln, Raymond J. and Helen L. Belair to Russell G. Haderer, $345,000.

42 Charles St, Jonathan S. and Juyeon Ohara to Margaret A. Maloney, N/A.

72 Daytona Ave, Luis Sanchez to Kallima Clarke, $207,000.

70 E Broadway Unit 70, Daniel M. and Joann M. Rawson to Gina M. Marks, $330,000.

33 Foran Rd Unit 11, FHLM to Mark A. Pucci, $105,000.

141 Foxwood Close Unit 141, Thomas Goodmen to Jennifer Maglenian, $176,000.

316 Foxwood Ln Unit 316, Pamela K. Ganacoplos to Christine Paltin, $200,000.

70 Grant St, Joseph R. and Andrea M. Dente to Lauren A. Vasil, $250,000.

29 Greenwich Way Unit 29, Dawn A. Puchula to Daniel E. Nilan, $220,000.

42 Jasmine Cir Unit 42, Marlene Axelrod to David L. and Jean O. Mcgee, $401,000.

32 Main St, Andrew J. Broughel and Esther Ragausha to Ronald W. and Wendy L. Miller, $120,000.

14 Melba St, Robert and Janet Debroisse to Anthony J. Clemente, $525,000.

1006 Naugatuck Ave, Christopher W. and Arzula Sytnik to John B. and Crystal M. Sinnott, $289,000.

186 Penn Cmn Unit 186, Mary Anne Hulford to Emily Theodoseau, $195,000.

577 Pond Point Ave, Kathryn Franzman to Matthew Czaplinski, $205,000.

190 Seaflower Rd, Thomas H. and Ann M. Szymanski to Robert F. and Harry J. Smoko, $282,000.

16 Southwind Ln Unit 16, Jane E. Phalan to Margaret Sheehan, $158,000.

23 Spring Ln, Martin R. and Carrie A. Pastir to Judith M. and Helen M. Kelly, $280,000.

428 Swanson Cres Unit 428, Yinrian Lin and Qin Sun to Eilean Lasoro, $210,000.

85 Viscount Dr Unit 11b, Hong Z. Hang and Z Hou Yang to Barbara A. Coppeto, $320,000.

85 Viscount Dr Unit A63, James F. Delaney to Pamela K. Ganacoplos, $240,000.

49 W Orland St, Christopher J. Storm to Laura Hayos, $202,500.

347 Welchs Point Rd, Kennth Castias and Jonathan Burant to James F. Delaney, $275,000.

57 Wilbar Ave, Judith L. and William P. Stevens to Jamie Richtelli and Carl Charles, $425,000.

35 Wiley St, Kelly Ohara and Jeanette Blakeslee to Michael Meatian, $200,000.

40 Winthrop Ct, James and Richard Murphy to Ryan Murphy and Lindsey Hutchison, $270,000.

6 Woodhill Rd Unit 6, Toyce B. Smith to Bethann Balazsi, $160,000.

N/a, Thomas J. and Diane M. Martin to Airon and Jennifer M. Shoop, $340,000.

To Search The Assessord Database Click HERE

Milford Ct Recent Property Transfers

65 Brookdale Ave, Austin Mary Kathleen Est and Lynn A. Panaions to David Salinas, $275,000.

15 Buckingham Pl, Eileen P. Paquet to Christian P. and Jennifer M. Gregory, $210,000.

68 Live Oaks Rd, Kevin M. Leydon and PHH Mortgage Corp to PHH Mortgage Corp, $1.

34 Market Pl, Elizabeth N. Shea to Standish Construction LLC, $95,000.

308 Meadowside Rd Unit 206, George Marinich to Timothy P. Myers, $95,000.

180 Melba St Unit 305, Ocean Point LLC to Tonya Grace Burehette, $215,500.

330 Merwin Ave Unit C1, Karen L. Howling to Christina Andriotis and Sophia Pampoukidis, $250,000.

663 Merwin Ave, Timothy V. Swaller to Julie Goldstein and Aroni Pinkussohn, $325,000.

75 Narrow Ln, Allan W. Voytek to Susan E. Parisi, $127,000.

1414 New Haven Ave, Gold Properties LLC to Douglas Knapp, $324,000.