Milford PPSF House Values Plummet 51.5% In One Year!

The price per square foot or (PPSF) value on a home is a number that has many indications, but is often the figure that resembles the "canary in the coal mine" of Real Estate.

When the PPSF takes a dive the main reason is property neglect, neglect that can occurr due to homes being sold at discount prices to compensate new owners for the additional work these homes need.

In Milford there are 78 homes in the pre-foreclosure stage, and in my neighborhood there is one bank owned home that is not even for sale. As the home sits vacant the elements and bank neglect are incurring the wrath of nature and making the "out of pocket" restoration expenses to that home increase and the PPSF to plummet.

The following report on Milford is from Trulia, and tells a chilling tale! A tale that suggests many people in our community are letting the insides and outsides of their homes fall apart to avoid or delay costly repairs.  None-the-less home inspectors are reporting these discrepancies and shoddy workmanship at alarming rates.

According to Trulia the "average price per square foot for Milford CT was $207, a decrease of 51.5% compared to the same period last year. The median sales price for homes in Milford CT for Jun 10 to Aug 10 was $277,000 based on 89 home sales. Compared to the same period one year ago, the median home sales price increased 2.6%, or $7,000, and the number of home sales decreased 36.4%. There are currently 518 resale and new homes in Milford on Trulia, including 5 open houses, as well as 78 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 $383,088 for the week ending Sep 22, which represents a decrease of 1.9%, or $7,288, compared to the prior week. Popular neighborhoods in Milford include Post Road North and , with average listing prices of $269,621 and $383,088."

Source Trulia.com.

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)

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.

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