Out here in Northern California, prices are also dropping a bit, but really not surprising as there was such a jump in the beginning of the year. A few things have been going on, first of all, school is started again, and many buyers are done for the summer transistions. There were many people who have been thinking about selling for years, and waiting for prices to come up to where they were, and some listed their home maybe a little high, and so some inventory has built up around here. I would view it as a buying opportunity, and especially during the holidays, less buyer competition means better opportunities for negotiations.... more
Milford is a very diverse town. You have not provided enough information, like address, listing number, single family , etc. Being that you have asked this question I would recommend you hire a REALTOR, to show you properties that will fit your budget, and needs. It does not cost you anything. Probably not what you want to hear, but they are the professionals and know each area of Milford and the price point.
If you need a referral let me know, my team in Milford can help you in your search.... more
I would agree with Tracy that shore properties appreciate the most "just so much shore line" as a general rule I tell my clients to look for an area that suits their needs and find a home that is in a neighborhood that the homes and properties are well taken care of.Good Luck !!... more
Not exactly sure what your question is, however, I am going to give you a take on Milford.
Milford is a HOT town to live in. You're just outside of Fairfield County, have Fairfield County ammenities, but New Haven County prices!! If you're looking to live within a mile or so of the water and are looking for a kid-oriented, family neighborhood then you should check out Settlers Ridge (Colonials, 2000+sf, built in 1995-1998). If looking to be in North Milford then you can check out Great River Golf Estates (Colonials, 2000+sf, built in 1999-2003). Homes in these developments tend to go on deposit within 30 days, unless they are drastically over prices.
The Milford market has and will continue to be hopping. Values have decreased in the past 2-1/2 years, but not too far like many other towns. I have found on properties we are getting into multi-offer situations again, if the home is priced correctly for that area then this is happening. Again, we find those who can not afford Fairfield County prices head into MIlford. Orange is a great town as well, however, you will find more neighborhoods in Milford so if you're raising kids this may be of interest to you. Milford offers an easy commute to NY, stopping all along the shoreline. You are about 1 hour 20 min to NY, 2 hours to Boston, 1 hour to the Casinos (great entertainment!), and so close to all Beaches.
Without knowing your exact question, I hope this information helps you.... more
I posted some decent information below. NONE of it matters because of your ending question. Settle the estate as soon as possible. Get it over with. It will not matter if prices go up or down. You want out. Sell now, split the proceeds and do not look back.
Below is a price prediction site for this year.
No one really knows what will happen to prices in 7 years. They could go down and stay down. They could remain the same. They could go up.
We do have a lot of foreclosures coming (maybe not near you but check it out). Those foreclosures will be coming through 2012. It could be a year or more to get them all taken care of. That leads to 2013. That means if the economy recovers, and people actually have jobs (low unemployment) prices could rise. Yet if unemployment remains high for several years that could really hurt house prices.... more