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 CT, Real Estate Report

The median sales price for homes in ZIP code 06460 in Milford from May 10 to Jul 10 was $258,000 based on 79 sales. Compared to the same period one year ago, the median sales price increased 3.2%, or $8,000, and the number of sales decreased 19.4%.

Average price per square foot for homes in 06460 was $213, an increase of 6.5% compared to the same period last year. There are currently 412 resale and new homes in ZIP code 06460 on Trulia, including 57 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in 06460 was $409,970 for the week ending Aug 11, which represents a decrease of 1.5%, or $6,091, compared to the prior week. Popular ZIP codes in Milford include 06460 and 06461, with average listing prices of $409,970 and $355,604

Source www.trulia.com

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

Crime In Milford Drops Significantly Compared To Five Years Ago

The population of Milford has steadily increased over the last five years and according to the FBI crime statistics most areas of crime have decreased significantly. But before I start to go on about how exciting this report is, I need to point out the disclaimer on the FBI website about their statistics.

The FBI wants readers to know "that the numbers in the tables below are only what is reported to them and are not indicative of the real or actual quality of life in a community." That is it in real short summary but anyone who wants more information can go to www.fbi.gov to get more answers.

The tables below are therefore going to be my interpretation, and if I may put it frankly, the police department is doing a great job holding the line on deterring just about every area of major crime in our city.

There has been much talk of Republican fundraisers to purchase video cameras that some area businesses want and others find controversial. There also has been criticism over additional police offers being added to the streets. But when you look at the facts as reported to the FBI Milford's Police Department, or people, have been doing a stellar job in deterring crime. The numbers speak for themselves.

See the Table Below (More People Less Crime):



These numbers are great news news for any home buyer looking to find a tranquil place to live with lots of beaches, and great quality of life. My personal experiences in Milford have also been crime free and tranquil, and no one in my very large extended family has been a victim to any crime while living here. Sometimes when we pick up the newspapers and read about all the horror stories with sexual assaults, bank robberies and the like we are really looking at extended dragged on variations of the same drama. The same criminals being reported on for months and months on end, and being reported on play by play.

Recently I heard that Milford is one of the best places to retire to in Connecticut, and is ranked real high on the East Coast. We are the only town in the State to have had their taxes go down. These qualities are what attracts others to want to live here in Milford, and when anyone ever makes remarks about "Crime in Milford" they just need to really check the facts. Milford's crime rate is much lower than the state average in every area and we as a community can be proud of that despite the sensationalism put forth by some local reporters and those who want to lobby for a bigger police department.