Crestwood home values vs Goshen? (Louisville, La Grange: 2009, new home, landscaping)

[K. Dunn]

Hello again!

Why does it seem that Crestwood home values are dropping a bit more than Goshen/River Bluff/Prospect? We have noticed that you can definitely get more home and sq footage in Crestwood compared to North Oldham area [plus no offense, some of my favorite homes seem to keep popping up in Crestwood, several with 1 acre or more, 2200 sq ft - up, beautiful 2 story homes with large decks surrounded by woods under $200K!] in our $175-$250K max zone. As a family I would say it could be since Crestwood Elementary has taken a rather large drop in ratings lately compared to all the other elementary schools near Goshen/River Bluff like Liberty, Goshen, and Harmony Elementary. But this can't be the only reason. Is Goshen/River Bluff just considered a bit higher end? We know Prospect is. Other thoughts or reasons? Just curious.

I have attached a few photos of homes in Crestwood currently to show you what I am referring too. This is not to say we haven't seen some other beautiful homes also in Goshen or River Bluff that we love, just to get something equal in size it seems you would have to dish out $25K-$50K more.
I would have to say we are narrowing our search into the backside of Goshen near or off Settlers Point Trail, or if something in River Bluff popped up [in our price range]. That area atracks us the most due to proximity to good schools in all age groups, strong community known for young families and kids, local pool, proximity to Louisville for work, Beauty, Open space, and more. If it wasn't for the low school scores currently happening in Crestwood [mostly concerning Crestwood Elementary], we would be looking their too.

Thanks in advance! Ciao.

[tomocox]

Originally Posted by K. Dunn

Hello again!

Why does it seem that Crestwood home values are dropping a bit more than Goshen/River Bluff/Prospect? We have noticed that you can definitely get more home and sq footage in Crestwood compared to North Oldham area [plus no offense, some of my favorite homes seem to keep popping up in Crestwood, several with 1 acre or more, 2200 sq ft - up, beautiful 2 story homes with large decks surrounded by woods under $200K!] in our $175-$250K max zone. As a family I would say it could be since Crestwood Elementary has taken a rather large drop in ratings lately compared to all the other elementary schools near Goshen/River Bluff like Liberty, Goshen, and Harmony Elementary. But this can't be the only reason. Is Goshen/River Bluff just considered a bit higher end? We know Prospect is. Other thoughts or reasons? Just curious.

I have attached a few photos of homes in Crestwood currently to show you what I am referring too. This is not to say we haven't seen some other beautiful homes also in Goshen or River Bluff that we love, just to get something equal in size it seems you would have to dish out $25K-$50K more.
I would have to say we are narrowing our search into the backside of Goshen near or off Settlers Point Trail, or if something in River Bluff popped up [in our price range]. That area atracks us the most due to proximity to good schools in all age groups, strong community known for young families and kids, local pool, proximity to Louisville for work, Beauty, Open space, and more. If it wasn't for the low school scores currently happening in Crestwood [mostly concerning Crestwood Elementary], we would be looking their too.

Thanks in advance! Ciao.

K, regretably, I haven't had a chance to review all the data, so without being more than guessing, I would say that it has far more to do with the NE Quadrant rather than just northern vs southern Oldham Co. The build-out of NW Oldham is far greater than NE Oldham or then entire S Oldham area. The commute value of SE Oldham really hurts that area too.

I would not be too concerned about the school scores. I am still awaiting the explanation of why Kenwood Station was listed on the NKLB test. I don't think that will stand. Also, the actual Crestwood Elementary building will be one of the most state of the art educational structures in American when opened in January 2009.

[Cattknap]

After considering both Goshen and Crestwood as a possible place to move to, I have to say that we considered Goshen to be surrounded by much more beautiful, established, neat and inviting surroundings than much of Crestwood. There were some gorgeous neighborhoods in Crestwood, but when you would come out of those streets, you would sometimes see derilect properties and areas and homes that had several boats on the lawn and junk on the porch, etc.....some new subdivisions had no or little established landscaping, etc. - giving those areas a lifeless, stark and barren sameness that is very unattractive - at least to us.....and very importantly, little good shopping close by - although it looks like they have built some new shopping and I believe a new Kroger is going in there also - but not enough services to sustain a family without driving out of the area.

Most of Goshen and Old Taylor's Place is pretty breathtaking, gorgeous horse farms - shady, large-tree lined streets and large properties and 5 to 6 miles down 42 from Prospect there is a large variety of nice, fairly comprehensive shopping and services - a bit beyond that is the 265 freeway with the Summit and tons of additiional shopping only minutes away.

My husband and I could certainly understand why Goshen was more expensive than Crestwood....Goshen/Old Taylor's Place is just nicer, more scenic and more conveniently located to services that you require to keep a house and family going.

When we were still looking to buy a new home last month, I had seen a beauty in Old Anita Springs (La Grange) - it sold quickly just before we moved to KY. Once we got to KY, we decided to take a look at the house we missed - nice subdivision but unfortunately directly across the street from the main entrance to the subdivision was a very unsightly business - I can't remember exactly what kind of business it was - scrap auto parts or something - I just wouldnt' want to see that every day as I exited and entered the subdivision.

We ended up buying in Prospect, but both my husband and I preferred Goshen to Crestwood even though we saw several spectactular neighborhoods there.

We swore we wouldn't buy a house that needed much fixing (we had spent 5 years remodeling our home in So. California - it was gorgeous and perfect but it is so expensive and disruptive to have the house in a constant state of remodeling)...been there, done that.

But we did buy a house that needs updating and some repair - it is a great house, undervalued for sure, but the neighborhood is absolutely amazing and lots of services close by.....neighborhood is very important when considering buying - ultimately, your house will hold the most value in a nice neghborhood that is fairly close to services.....and it is just more pleasant to live where people in your area mow their lawns, aren't allowed to have junk on their property, and where trees and landscaping are mature and lush....so something to think about.

[maryhhug]

Having lived in Prospect, River Bluff area, I can tell you that property values are continuing to sink and are not that different from the values in Crestwood. Our home sold for $290 in River Bluff last Spring, since then home prices have plummeted, that said, I think home prices are higher there than Crestwood, simply because it's Prospect, and the 40059 zip. Plus backing up to $500k plus homes always increases your home values (Hillcrest). Currently there are homes ranging from $230-270 available in River Bluff-Countryside area. There are beautiful manicured lawns, mature trees, North Oldham school district, a sense of community, bragging rights for the prestigious Prospect address, etc. Like that matters, but to some people it does. Shopping is close, commuters take River Rd. to downtown, it's a highly sought after address.
As for Crestwood, it's farther out and rural. And as someone pointed out, there are "derelict" properties scattered about that could offend certain people, but honestly, we moved farther out for just that reason, more economic diversity. Not everyone wants to live a stepford life in a neighborhood with a sea of brick houses that look just alike. Bring on the acreage, the country air and the quaint farmhouses, horses running and peace and quiet. I think Crestwood is so beautiful and it will soon have all the conveniences of Prospect, shopping centers are being built now.
42 is flipping congested, on it's way to becoming widened.. it's a good time to move farther out if you have the choice. The homes I see that you have pulled up in the Crestwood area.. there is a lot more variance in home prices in some of those neighborhoods and unfortunately, your property can significantly be reduced in value because of lower priced homes in the neighborhood. In neighborhoods like River Bluff the homes are pretty similar in price and value, the bylaws prevented builders from coming in and building under the minimum requirements. Go for the cheapest home in the most expensive neighborhood, you'll always come out on top there. OR skip the neighborhood altogether. Live on land.
Hope that helps answer your question.. and good luck!

[sellinggreaterlouisville]

Just a real quick note. You posted 4 pictures of homes... All 4 are on the out laying areas of Crestwood. Crestwood has a large zip code. I'm not saying that *is* the deciding factor, but that may have something to do with it.