After two full years of depressed home sales, the internal advertising pendulums have begun to swing for real estate. Agents, who initially tried to appease home sellers by advertising more on traditional channels, this year systematically cut their print budgets and pushed more money into the Web. The result has been a slingshot effect for online advertising. While total ad spending on real estate has declined 3 percent this year, spending on the online segment has grown 25.8%, hitting $2.6 billion. We are projecting online real estate advertising to grow at a somewhat slower rate next year – 12.4%, while total real estate advertising continues to compress. In three years, agents and brokers will be spending more ad dollars with online media than with the newspaper.

By 2012, Borrell’s numbers show real estate advertising online growing by 34% to $3.45 billion. Newspaper’s real estate take will fall 32% to $3.3 billion. And the rest of real estate advertising will grow 10% to $4.46 billion. All told, the five-year outlook for real estate advertising — regardless of the platform — is down 2%. Flat marketing budgets are never a a very bullish signal for any industry.

Manhattan apartment prices rose 2.3 percent in the third quarter to a median of $864,400 as wealthy buyers swept up large, multimillion-dollar luxury condominiums.

The median price of a condo in the nation’s most expensive urban market jumped 5.2 percent from a year earlier to $1.12 million. The price of co-operatives, apartment buildings where residents can impose their own financial requirements on buyers, fell 2.4 percent to $668,500, according to a report today by the real estate data company Radar Logic Inc.

Manhattan is outperforming the national housing market as bonus earners and international investors bid up prices and help the city fend off the housing slump. That trend might be threatened as home loans of more than $417,000 become more expensive and Wall Street executives face the prospect of pay cuts brought on by mortgage-related losses.

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We don’t consider ourselves a Real Estate Blog for this purpose but it’s great to see blogs helping people with such an important life decision.

Consumers can now get the inside scoop on real estate from REALTORS through a new blog program recently launched by REALTOR.com, Featured Blog and “Let’s Talk Real Estate!”

Created to help consumers sift through rhetoric and connect with industry professionals, the 6 million monthly visitors at REALTOR.com can now tap into blog posts that cover local neighborhood information, negotiating strategies, valuations, hot local real estate trends, and more. Consumers can also use the blogs at REALTOR.com as a search and evaluation tool to select an agent that best fits their needs as they read posts from numerous REALTORS versed in different areas of expertise.

“People across the nation are talking about real estate and the housing market,” said REALTOR.com President, Errol Samuelson. “There’s a tremendous amount of information available that can be confusing or not relevant to someone’s specific interests or local area. The blog program on REALTOR.com connects consumers with experts so they can get information on specific industry trends, become familiar with a REALTOR in their area and gain a better understanding of their own local market.”

Through the Featured Blog program, real estate enthusiasts and house hunters can become part of a local online community as they search for property listings and information. Each Featured Blog is hosted and written by agents whose posts give a snapshot into their market. Videos and photos can also be included as part of a blog to bring life to listings and neighborhoods. The most topical Featured Blog posts generated by individual agents are spotlighted in the “Let’s Talk Real Estate!” blog program, accessible on the home page of REALTOR.com. Consumers can post their own questions and comments or click through to connect directly with the agent when a post, property, neighborhood or agent sparks interest.

“Blogs on REALTOR.com offer consumers an opportunity to tap into our extensive network of knowledgeable industry experts for answers to real estate-related questions around the clock,” says Samuelson. “It’s also one of the best ways for consumers to know if an agent specializes in a particular area such as investment properties, condos, first time purchases, or high-end listings. They’re a simple, effective and convenient way for consumers to connect with the information and expertise they need to make smart decisions about real estate.”

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Watch Frank Lloyd Wright’s incredible house in Bear Run, PA, be built from the ground up before your eyes - foundations, framing and all - then take a brilliant tour around, above, below and inside of this masterpiece. I have rarely seen such gorgeous animation, and the subject matter couldn’t have been better chosen. Watch Falling Water

A great collection of vintage and modern Apple PCs. A geeks decorating dreams come true.

whos.amung.us is a fun little tool that gives you a live map view of where your visitors are coming from.

Great little tribute to Frank Lloyd Wright found on YouTube.

Harrah’s Entertainment, Inc., just announced an approximately $1 billion expansion of one of our all-time favorites, Caesars Palace in Las Vegas. This is a key initiative in the development of the renowned Caesars brand. For all of you vacationers, this expansion is another project in the extensive growth announced in the past few months by Harrah’s, including:, London Clubs International, Margaritaville Casino & Resort in Biloxi, Miss., The Pier at Caesars® Atlantic City, a new hotel tower at Harrah’s Atlantic City, a new hotel at Harrah’s New Orleans, and a substantial expansion to the Horseshoe Casino in Hammond, Ind.

The centerpiece of the expansion is a luxurious new 665-room hotel tower — the Octavius Tower. Three new luxurious pool villa suites will be built along the second floor of the new tower and will overlook three more new swimming pools that will rim an expanded outdoor whirlpool spa retreat, a poolside café and nearby garden wedding venue. We were told the expansion is slated for completion in early 2009.

Gary Loveman, chairman, chief executive officer and president of Harrah’s told me “This billion dollar investment in our flagship property, Caesars Palace in Las Vegas, is an important part of our comprehensive global growth strategy. From the United Kingdom to Las Vegas and beyond, we will continue to enhance our network of superb properties to deliver unforgettable guest experiences and provide good jobs for our nearly 100,000 team members around the world.”

It appears to be the last episode of the Harlem House a series from Dwell.com. I would have liked to see more of the house, but maybe a follow up show will be done

Harlem House - Episode 10