Shopping based on your monthly payments or total cost?

I have had a few people ask for this cost v. price study lately, so thought I’d share it again here: http://www.kcmblog.com/2012/03/19/buying-a-home-the-cost-is-more-important-than-the-price/

Perhaps even more relevant to Seattleites when coupled with this, from the Daily Journal of Commerce: KIRKLAND — Limited inventory and falling mortgage rates are driving up the price of houses near job centers, the Northwest Multiple Listing Service said yesterday.

Median sale prices for houses were up 7.3 percent in Snohomish County last month compared to May of 2011.

Prices were up nearly 5 percent in King County, and half a percentage point in Pierce County.

Condo prices were down 2.3 percent in King, 7.5 percent in Snohomish, and 17.3 percent in Pierce.

Across the three counties, the number of active listings for houses and condos was down by nearly 40 percent.
http://www.djc.com/news/re/12041688.html