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)

This Weeks Property Transfers

14 White Birch Dr, Richard and Judith W. Ganser to Wayne A. Cole and Loren Balletto-cole, $477,500.

31 Appletree Ln, Donna L. Sasso to John M. and Regina M. Gibbs, $300,000.

163 Clark St Unit A, Christine K. Hoyt to Danuta Wagner, $190,000.

98 Cricklewood Rd, Cassanova Prop 1st LLC to Ellen J. and Kevin L. Ryan, $239,000.

32 Deerwood Ave, Ingeberg Claudi Loff to Coude Hamlin and Lisa C. Gryskiewicz, $240,000.

141 Easy St, Felicia A. Wirbicki to Brian Kersten, $248,844.

19 Freemont Ave, WDI RE LLC to Kelly Chapple and Ryan P. Stone, $299,900.

John Henry Ln, Southworth Dev LLC to First County Bk, $1.

94 Knobb Hill Rd, Stephen W. and Marilyn M. Foster to David G. and Stephney M. Gonzalez, $355,000.

308 Meadowside Rd Unit 309, Joseph D. Diamautini to Leanne Romano, $160,000.

180 Melba St Unit 110, Ocean Point LLC to Lois A. Ruby, $202,723.

180 Melba St Unit 309, Ocean Point LLC to Jeffrey J. Fenlner, $210,000.

8-10 Merwin Ave, Deborah S. Rowe to Countrywide Home Loans, $1.

273 New Haven Ave Unit 6, William N G. and Robin Bosanquet to Luann Cullen, $240,000.

26 Pumpkin Delight Rd, Wayne A. Cole and Loren A. Balletto-Cole to Matthew S. Whelan, $252,000.

60 Thompson St, Matthew J. and Michelle O. Montana to Mitchell B. Kaufman, $365,000.

116 Tumblebrook Rd, Danuta Wagner to Jonathan A. Eyden and Danielle M. Amato, $310,000.

26 Twin Oaks Ter, BAMF Home Limited to Mitchell A. Horowitz and Lynn M. Lawlor, $351,000.

58 W Clark St, Donna J. Harelik to Michael J. Harelik, $112,050.

65 Warfield St, Debra Lydem to Christopher and Michael Laskowski, $110,000.

CLICK HERE FOR THE ASSESSORS DATABASE

This Weeks Real Estate Transfers

42 Point Beach Dr, Abar Dev LLC to Steve and Karen Fadden, $610,000.

19 Audubon Close Unit 19, Paul H. and Joan D. Sorenson to Emanuel J. Cosmaj, $298,00.

33 Austin Rd, Pamela Fausel to Country Home Loans, $1.

47 Beechwood Ave, Clini Eugene R Jr Est and Eugene R. Clini to Abar Dev LLC, $95,000.

573 Buckingham Ave, Leslie Collins to Melissa J. Bruno and Raymond E. Noel, $232,000.

52 Carriage Path S Unit 52, Gary P. Brechlin to Michelle Labella, $138,000.

14 Cherrywood Dr, Michael J. and Meghean E. Hayes to Mary U. Hewitt, $200,000.

84 Forest Rd, Mark Ochman and Mark A. Healy to First County Bk, $336,822.

53 Hill St, US Bk and Structured Asset INT to Sarah S. and Victor M. Ferrante, $225,000.

140 Hillside Ave, Dorothy V. Anderson to Michael Malone, $270,000.

139 Mary Ellen Dr, Dorothea Matto to Carmella Sheehan, $165,000.

180 Melba St Unit 111, Ocean Point LLC to Raymond H. and Myrna H. Brown, $299,900.

185 Melba St Unit 109, Joan Kalil to Thomas and Deborah Swirsky-Sacchetti, $225,000.

413 North St, Debra Goncalves and Casey Burke to US Bk, $228,964.

Popes Island Rd Unit C23, Theresa A. Bennett to Paul T. Viscount, $9,000.

91 Shelter Cove Rd, Roger E. and Carol A. Laflamme to Thomas W. Cabeen, $175,000.

24 Wayne Rd, Wayne A. Satterwhile to Christopher S. and Mary F. Carlson, $180,000.

337 Wheelers Farms Rd, Sue K. Shields to Samira M. and Murhaf A. Majeed, $249,000.

CLICK HERE FOR THE ASSESSORS DATABASE

This Weeks Real Estate Transfers

314 Bridgeport Ave, DA Black Inc to Outlaw Boxing Rats Inc, $850,000.

87 Berwyn St, Mary E. Patrick and David W. Harris to Jo Ann Russomanns, $160,000.

65 Chatham Ave, Salvatore V. and Larisa Sorce to Blake C. Gulino and Alisha M. Miner, $309,000.

41 Ettadore Park, Frank J. Zielinski to Joseph E. Leto and Rachel C. Voigt, $243,000.

25 Higgins Dr, David Kuehn and Bayview Loan Svcng LLC to Bayview Loan Svcng LLC, $1.

230 High St, Ashelford June M Est and Susan J. Ashelford to David E. and Marie Orrell, $185,000.

658 Milford Point Rd, Scott N. and Kelly B. Comboni to Larisa Chavenello, $239,900.

1144 Naugatuck Ave, Hilda Davis and James C. Jackson to Hilda Davis, $12,000.

1060 New Haven Ave Unit 8, Iris N. Rivera to Jose C. Rivera, $165,000.

20 Pickett St, William Robert Coughlin to Donald M. Iannuzzi, $200,000.

636 Popes Island Rd Unit 636, Elizabeth Whittier to Frederic B. Shove, $260,000.

2 Spruce Cir, Mary Ellen Grom and Countrywide Home Loans to Countrywide Home Loans, $1.

85 Viscount Dr Unit B52, RMP Beachfront LLC to Harry G. Hill, $230,000.

16 Wendy Rd, David P. and Jacqueline A. Leonard to Rexford M. and Ma Beata Legaspi, $327,500.

204 Zion Hill Rd, Josef Mozdzer to Matthew Thennes and Irene Patalano, $350,000.

CLICK HERE FOR THE ASSESSORS DATABASE

This Weeks Property Transfers

990 Naugatuck Ave, Richard J. Barrett to Joseph F. and Janet Barrett, $1,275,000.

354 Anderson Ave, Paulo J. and Rosa Debarros Amaro to Peter Sena, $255,000.

43 Barton Rd, Phillip and Lisa Napolitano to Ryan P. Gottsegen, $260,000.

790 E Broadway, Eva Porzio to James Porugini, $200,000.

89 Edgefield Ave, James W. Tift to Bob Paige Plumbing&Heat, $160,000.

99 Fairview St, Laura Boughton-Ahlborn to Geoffrey M. Spinelli and Shauna E. Aiken, $260,000.

22 Florence Ave, Steward S. and Whitney A. Tosh to Kathleen and Andrew Laird, $310,000.

33 Foran Rd Unit 7, Marcy Secondi to Antonio Zeko, $140,000.

14 Golden Hill St, Philip M. and Rebecca L. Wenzel to Lindsay Clifford and Brian Diango, $257,000.

79 Hill St Unit G, Janet Harlow to Mark A. Sabatino, $157,000.

4 Jackson Dr Unit 4, Alan V. Ado to Justin T. Andrews and Rebecca H. Layman, $222,000.

67 Jackson Dr Unit 67, Cathy Ginise to Countrywide Home Loans, $1.

300 Meadowside Rd Unit 303, Michelle L. Dasilva to David E. Zotti, $150,000.

308 Meadowside Rd Unit 205, Hoffman Christopher Est and Joseph J. Mager to Kenneth J. Mysogland, $142,500.

180 Melba St Unit 61, Ocean Point LLC to Sheila Starr, $250,000.

185 Melba St Unit 210, Bradley Fiminger to Lonos A. Gurliacci, $199,900.

267 Melba St Unit C10, Christopher M. Barnes and Tyanna R. Neil to Joy L. Southard, $222,000.

69 Merwin Ave Unit 69, Joan A Grossman Family LP to Suzanne Lussier and Shaun Wilson, $210,000.

130 Merwin Ave, US Bk and Home Equity Asset T to Lufam Homes LLC, $100,000.

28 Millard Dr, Paul and Jocelyn Robertson to Neema and Kathryn Vaheb, $345,900.

Naugatuck Ave, Constance G. Barrett and Michael Dedonato to Recycling Inc, $425,000.

1060 New Haven Ave Unit 1, Hart Winifred B Est and William D. Hart to Janet Harlow, $140,000.

190 Orange Ave, Manuel Alvarez to Countrywide Home Loans, $1.

113 Overhill Rd, Diane J. Troncone to Justin P. and Theresa Walker, $245,000.

1 Point Beach Dr, Robert H. Smith to Carter Mario, $65,000.

Popes Island Rd Unit B5, Val Santos to David Morais, $7,000.

Popes Island Rd Unit D8, Iric Pleszko to Joseph and Karen Treotola, $10,000.

70 Raton Rd Unit F, William A. and Amy Jean Vanarsdale to Sheil Systems LLC, $80,000.

117 Seaside Ave, Arthur A. Crisel and Gerald A. Heffernan to Mathew J. and Teresa Alaimo, $117,000.

1 Spice Bush Ln Unit 1, Dennis M. and Virginia P. Ring to Philip E. and Jane F. Norgren, $370,000.

35 Sunnyside Ct, Angela Marie Harvey and Eleanor Ann Mcmahan to David Forero and Christie L. Gillis, $240,000.

74 Sunnyside Ct, Vania Martins to National City Mortgage Co, $1.

556 Swanson Cres Unit 556, Peter Romick and Janelle Kan-drach to Meredith Gull, $195,000.

12 Union St, William FT and Gail Murban to Brock T. Dubin and Melissa Cagginello, $346,800.

CLICK HERE FOR THE ASSESSORS DATABASE

This Weeks Real Estate Transfers

1 Merwin Ave Unit C2, Linda N. Bruno RET and Audra Leigh Bruno to Linda Troiano, $475,000.

77 Forest Rd Unit C, Jay H. Jaser and Audrey C. Galvin to Walter and Patricia Robertson, $216,000.

310 Foxwood Ln Unit 310, Brian and Slyssa E. Shoop to John Wasowski, $165,000.

1060 New Haven Ave Unit 28, Kathleen M. Gahagan to Mark Trenholm, $150,000.

51 Oak Ridge Ln, Rahul Ghai and Priyanka Singh to Jayaganesh Ramasamy, $429,000.

6 Settlers Ridge Rd Unit 6, Southwind Cove LLC to Kelli Cauganello, $249,900.

98 Turnor Ave, Timparo Bruno Est and Edward Browser to Daniel J. Audet, $168,000.

10 Utica St, Wells Fargo Bk and WAMU Mortgage to Thomas B. Murphy and Erleen M. Potray, $222,000.

661 West Ave Unit 15, Sally J. Porna to Robert D. Overs, $170,000.

CLICK HERE FOR THE ASSESSORS DATABASE

This Weeks Property Transfers

7 Stone Manor Dr, Alana K. Montano to Lynn A. Connie, $1,100,000.

219 Anderson Ave, Jeffrey D. and Carolyn S. Kennedy to Daniel Harris, $272,900.

42 Barbara Dr, Tuthill Finance to Stephen Johnson, $250,000.

42 Barbara Dr, Deborah B. Yeisley and Khalid M. Ali to Tuthill Finance, $250,000.

50 Berwyn St, David E. and Linda S. Wilson to Erica Dineson, $210,000.

55 Carriage Dr Unit 55, Kacy D. Fardy to Laureen E. Austin and Liam C. Crocker-Mcclellan, $161,000.

96 Cornflower Dr, Shannon MB Mayville to Deryl and Kristen Wells, $298,000.

67 Greer Cir, Walter C. Geer to Lucas A. Valentine and Meghan Rynch, $280,000.

254 High St, Harry G. Tashlein to H Ryan&Son Builders LLC, $302,500.

100 Hillside Ave, PNC Bk to Dorothy Pfau, $185,500.

40 Lincoln Ave, Leo J. Dunn to Alan Anderson, $250,000.

110 Mayflower Pl, Nancy Kingsbury to William Douglas and Kate Cotto, $272,950.

42 Meadows End Rd, BAMF Homes Ltd to Miguel J. Bravo, $326,000.

33 North St, Prisco Panza and Gina A. Falcone-Panza to Adam L. and Kathleen G. Klug, $685,000.

9 Sentinel Hill Rd, Richard Nylen and Nicole C. Wayne to Michael J. Moreno, $335,000.

407 Swanson Cres Unit 407, Celia M. Young to Joan Sagrosse, $181,000.

60 Wildwood Ave, Wells Fargo Bk and Option One Mtg Loan T to Robert Walker Heagney and Abigail B. Off, $325,000.

84 William St, Susan M. Mozdzer to Paul M. and Smita Chawia Rirchberg, $330,000.

FOR ASSESSORS DATABASE CLICK HERE

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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Tall Grass And Unregistered Cars Target Of Blight Ordinance

The city is stepping up efforts to combat blighted properties.

The Board of Aldermen recently adopted an antiblight ordinance that allows the city to slap the owner of a neglected property with a $100-a-day fine if the blighted property adversely affects the health, safety or property values of other residents.

The ordinance also allows the city to fix — at the property owner’s expense — long-ignored problems on properties deemed to be blighted.

Blight, as defined by the ordinance, can be as simple as broken windows or overgrown grass. An abandoned building, one with extensive fire or water damage or one that is infested with vermin or has unregistered cars or garbage on the property, also can be considered blighted.

Any other condition causing “substantial depreciation of the property values in the neighborhood” also falls under the ordinance.

Alderwoman Jessica Blacketter, D-4, asked City Attorney Win Smith during an ordinance committee meeting last week if the term “substantial depreciation” could be more clearly defined.

Smith advised against putting a percentage or dollar amount to represent lowered property values because property appraisals can vary a great deal, depending on who is doing the appraising.

A hard number or percentage of depreciation could undermine the city’s position in court and make the ordinance more difficult to enforce, Smith said.

Aldermanic Minority Leader Vincent Ditchkus, R-3, agreed with Smith.

“In the real estate market, you could have three different appraisers come out ... and have three different, substantial changes to that appraisal,” Ditchkus said.

Alderman Nick Veccharelli Jr., D-2, said he supported the idea of an anti-blight ordinance, but took issue with the one adopted because he thought it gave the “blight enforcement officer” too much power.

The idea of a blight enforcement officer being able to go onto a property based simply on an anonymous call, without first notifying the property owner, did not sit well with Veccharelli.

“I am simply asking that before we allow someone to enter onto somebody’s property — that we let them know we are coming over,” Veccharelli said. “Please, if they are going to go on someone’s property, let’s at least have the common decency to inform the people.”

Aldermanic Chairman Ben Blake, D-5, said the intent of the ordinance is to protect the health, safety and welfare of residents, and having to give notice “could take some of the bite out of the ordinance.”

Responsibility for enforcing the ordinance rests with the city health director or a designee.

Smith said the health director and zoning enforcement officer already have the power by state law to enter properties to deal with code violations.

ORIGINAL STORY BY JIM TINLEY

This Weeks Real Estate Transfers

76 Point Lookout, Thomas P. and Kimberly H. Nolan to FCB Rem LLC, $2,000,000.

52 Atwater St, Kathleen R. Hodge and Aldo P. Staffieri to Jaana H. Debnam, $260,000.

70 Branca Ct Unit 70, Brenda Paoletta to John W. Walters, $276,000.

Briarwood Ln, Matson Joan C Est and Gregory J. Matson to Norma P. Fitzpatrick, $248,700.

47 Chester St, Richard G. Piselli to Selina M. Piselli, $350,000.

112 Cornflower Dr, Oliver David H Est and Debbie L. Slattery to Gregory G. Ryan, $290,000.

51 E Broadway Unit C, Daniel R. Salomone to Andrew H Duhaime RET, $180,000.

86 Governors Ave, Norma P. Fitzpatrick to Chalres and Claire Casey, $340,000.

20 Joyce Ct, GRP Loan LLC to Bruce J. and Janet L. Devlin, $135,000.

Lavery Ln Lot 2, Joseph D. German to William G. German, $10,000.

195 Meadow Park Dr, Nadim and Rachel Ramadah to James and Jamie Froelick, $344,000.

444 Milford Point Rd, Dulin Albert Peter Est and Joan Zuscin to Edward R. Cronin, $239,000.

586 Pond Point Ave, Bijaya K. Dash to William Cyr and Jullian Morabito, $330,000.

Wendy Rd, Saint Basil LLC to Shirley Frumento, $255,000.

35 Wendy Rd, Edward Frasier and Linda M. Fogler to Saint Basil LLC, $221,000.

659 West Ave Unit 7, Kevin and Kristi L. Mccarthy to Kristine L. Marino, $175,200.

CLICK HRERE TO VIEW THE ONLINE DATABASE

This Weeks Property Transfers

64 Hillside Ave, Claudia Rutkowski to Benjamin Ross, $807,000. (Featured Photo)

5 Bridgewater Ave, Edvard Khond Karyan to National City Bank, $1.

28 Bristol Ter, Thomas N. Shea to Paule Joksovic, $340,000.

32 Chevelle Pl, Robert J. Esposito to Mawtthew E. and Michele Haramis, $390,000.

20 Clinton St, Jody Mead to Gina Magaudda, $307,200.

39 Coram Ct, Michael R. and Donnam Harrison to Edward G. and Karen M. Frawley, $369,000.

51 Elder St, Patricia A. Stockdale to Barbara W. Carroll, $237,500.

28 Fern St, Edward G. and Karen M. Frawley to Thank Y. Cao and Phyong T. Nguyen, $265,000.

312 Foxwood Ln Unit 312, Christian and Jennifer Gregory to Michael Aronoff, $180,000.

11 Knoll Ave, Amy Foote to Piane Liuzzo, $195,000.

21 Kohary Dr, Stanton Agnes M Est and Joseph E. Meuser to Christopher D. Sonsini, $115,000.

23 Lilac Ln, John and Hellen E. Stardellis to Mohini Ranganathan and Sudhir Perincheri, $330,000.

68 Live Oaks Rd, FNMA to Anthony Verderame, $300,000.

196 Lookout Hill Rd Unit, Christopherp Orlando to Andrew Robbins, $447,000.

36 Lyda Dr, Elizabeth L. Seno and Edward G. Gibson to Susan F. Mastrianni, $360,000.

48 Mcdermott St, Craig A. and Melanie Poppa to Ryan Swaller and Diandra Phontek, $244,000.

160 Meadow Park Dr, Jacobson Dagmar R Est and Linda Jacobson to Patrick J. Delillo, $265,000.

1070 New Haven Ave Unit 73, Deutsche Bk Natl T Co Tr to Ehab Abd Elsalam, $90,000.

44 Randolph Farm Rd, Mark T. and Banetta D. Johnson to Pankaj N. and Shilpa P. Patel, $619,000.

16 Rock Rd, Tyra Rabel to Howard Feldman, $620,000.

32 South St, Benjamin H M. Ross to Lara M. Arlideson and Anna Uirika Taube, $400,000.

10 Utica St, Antonio Alves Possantos and Wells Fargo Bank NA to Wells Fargo Bank NA, $1.

133 Welchs Point Rd, William V. and Cheryl C. Mingione to Julianna Greggos, $299,690.


For More information on any Property listed, including photos, previus purchase prices and sales figures ClICK HERE.

Westfield Mall Gets 11% Tax Decrease

The city and its largest taxpayer, Westfield Connecticut Post mall, have struck a deal on its taxes, which will result in the mall paying the city $1.2 million less over the next three years, said Mayor James L. Richetelli Jr.

Westfield appealed its 2007-08 tax assessment. The 1201 Boston Post Road mall was valued by the city to have a full market value of $251 million, but Westfield officials felt the true value was just $151 million.

Assessor Dan Thomas said the mall and the city reached an out-of-court settlement, which is essentially down the middle at $200 million. Sources said if the city had gone to court and lost, then it could have been forced to pay Westfield $2.4 million immediately.

That $2.4 million figure equaled the two years of taxes that they would have had to repay, if the $151 million valuation was upheld. By settling, the city will not have to write the mall a check.

Thomas said over the next three years, Westfield will have a tax credit of $400,000 per year for a total savings of $1.2 million. Westfield pays the city $3.8 million annually in taxes.

Thomas said it’s normal for tax appeals to result in a 10 percent adjustment, and Westfield’s reduction is 11 percent.

“I’m satisfied with the $200 million figure,” Thomas said.

Thomas said since the city has decided to freeze the phase-in of its revaluation over three years, the mall’s assessment is frozen at $125 million.

Richetelli said the tax agreement with Westfield was important to both the mall and the city’s long-term economic future.

“Westfield is our largest taxpayer. It’s vitally important to the community that the mall and retail remain viable,” Richetelli said. “The settlement is fair to both sides. It’s a good compromise.”

Richetelli stressed Westfield did not receive a special deal because it’s the city’s largest taxpayer.

“This avoids a very costly and drawn-out litigation,” Richetelli said. “This protects and enhances the viability of the mall to attract good tenants.”

Richetelli said Westfield’s tax credit will not hurt next year’s budget because the spending plan, which was approved in May, took into effect the $400,000 tax reduction.


By Brian McCready, Milford Bureau Chief

ORIGINAL ARTICLE CLICK HERE