Great Entry Price into Louisville

Those of you who have or are currently looking for a home in
Louisville, you'll notice that your dollar doesn't go too far when it
comes to price per square foot. A single-family detached home in
Louisville can run upwards of $200 per square foot, and this includes
unfinished square feet. And make that closer to $250 per square foot
if you're seeking an Old Town location.

But for $189,900, you can get 1,568 finished square feet - that's just
$121 per square feet (and all finished too) at 146 Pheasant Run, Louisville, Colorado. This is a wonderful townhouse and priced better
than most other attached housing in Louisville. What I love about this
one is the townhouse feels very private and serene due to a more set
back location within Hunter's Ridge. It has a front porch and rear
balcony too to enjoy the nice summer days we've been having. There is
also plentiful natural light inside, an open floor plan, a woodburning
fireplace in the living room, and a finished basement with a bedroom,
home office, 3/4 bath and laundry. Bustling Old Town Louisville and
great schools can be within your reach with this one!

How Important Is Your Monthly Payment?

In today's market, I come across many homeowners who have outgrown their homes and had originally planned on being somewhere bigger and better than their current home. Most of them bought three or four years ago when home prices were higher and so were interest rates. They had planned on pocketing a nice amount of home appreciation to use towards their next home, but obviously the nation's real estate market had different plans for them. Of course, all of these homeowners don't want to stomach selling their home for less than they paid. I can't blame them as that is an awful feeling, however, depending on where they would like to buy it may make sense financially. 

Let's say you paid $300,000 for your home in 2008, put down 20%, and financed the remaining $240,000 at 6%. This would give you a monthly payment of $1,438.92 (excluding taxes and insurance). Let's say that same home is now worth $275,000, but your dream home which is also now priced lower is worth $325,000. We'll use a 20% down payment here too to keep things equal, so you're financing $260,000 at 4.51% (today's rate for a 30-year fixed according to Bankrate.com). The monthly payment for the newer, bigger, better location, nicer finishes - or whatever it is you're looking for - home would be $1,318.93, a savings of $119.99 each month or 1,439.88 annually. Granted there are other factors to consider, like if the new home's utilities or property taxes would be higher, or if the location would mean more time in your car. But if the dream home is your long-term plan then locking in this low rate could be the answer. 

So many people I speak with tell me that the monthly payment is one of the most important decisions when purchasing a new home, so if you're one of those people you may want to give it a second thought!   

Superior May Add More Housing

The Town of Superior is working with Remington Homes to potentially
add 53 single-family homes on a site near Original Town. Remington
Homes is still submitting the necessary paperwork for project
approval, but the new development, which will possibly be named Coal
Creek Crossing, would break ground in 2014. I'll post more information
as it becomes available.