The east dominates the west in online home searches lately, and Florida was the preferred destination on this week’s Top 10 Most Searched Homes on Realtor.com®.

The Top 10 is compiled using homes that have a list price within 20 percent of the national median home price, which was $209,900 last week.

1. 4 bed, 3 bath Las Vegas, NV home listed for $250,000 The stacked stone fireplace, hardscaped patio, lounge cabana and sparkling pool makes outdoor entertaining or rest and relaxation a breeze.

2. 4 bed, 2 bath Kissimmee, FL home listed for $179,900 The golf course location with pond views are two reasons why this home’s current renters are planning to stay long term. With close proximity to Disney World and the airport it’s a feasible rental investment.

3. 4 bed, 4 bath Henderson, NV home listed for $235,000 Perched on a high lot, the valley, strip and mountain views from this desert home make it a premium home in an already great location.

4. 3 bed, 2 bath Miami, FL home listed for $250,000 The kitchen, baths, walls and floors are updated with modern materials and colors. The basics are there, the home just needs your personal touch to give it some style.

5. 4 bed, 3 bath Tampa, FL home listed for $235,500 The built-in BBQ and glass enclosed patio and pool area is the main draw for homebuyers scoping out this property. Once the outdoor room is furnished and accessorized it makes for a great outdoor living/entertaining space.

6. 4 bed, 3 bath Orlando, FL home listed for $200,000

7. 5 bed, 3 bath Las Vegas, NV home listed for $250,000

8. 4 bed, 3 bath Pembroke Pines, FL home listed for $199,975

9. 4 bed, 2.5 bath Detroit, MI home listed for $169,000

10. 4 bed, 2 bath Bossier City, LA home listed for $2106,900

To see the rest of the top 10, check out the full post on Realtor.com® Blogs

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There’s a new market influence on the housing horizon – first time homebuyers – who account for 41 percent of those who purchased a home in the last two years. According to Las Vegas Realtor® Brook Geisendorf, experts believe this growing demographic will influence the home style landscape for the next decade.

“Today’s first-time homebuyers have as much desire to establish household independence as their parents did – but the economic environment has affected their preferences. This demographic is much more aware of both how much home they need and what they can afford. But they also have specific preferences in layout, efficiency and neighborhood type according to recent statistics.

Size matters

 On average, first-time buyers are buying smaller, lower-priced houses than trade-up buyers are. Almost half of first-time buyers spent less than $150,000 on their first home in 2009, and the majority are buying homes with an average 1,874 square feet. This buying preference is partially affected by the economy. These buyers have serious concerns about the economy and employment viability and therefore have a keen understanding of affordability, which typically means smaller homes to contain mortgage and maintenance costs.

The overwhelming majority of first-time buyers – a whopping 82 percent – bought single-family detached houses; the remaining 18 percent were split right down the middle, with 9 percent buying single-family attached dwellings and 9 percent buying multi-family condominiums. Only 13 percent bought a new home.

These first-time homebuyers are driving a trend toward smaller single-family homes. The “small house movement” is expected to result in new construction that is more energy efficient, which requires less maintenance and is better designed for today’s lifestyles. This year, builders are expected to focus on building lower-priced models and smaller homes in an effort to attract first-time buyers.

According to MarketWatch, the movement toward smaller homes has been gaining in momentum for several years, but the recent economic downturn has really accelerated the trend. Because today’s average first-time buyer is younger than the average trade-up buyer, he or she has a smaller budget to work with and is much more willing to compromise on home size in return for a smaller price tag.

More single people are first-time homebuyers today, changing the demographic from couples with and without children. While 15 percent of first-time homebuyers in 2009 were married with children, 22 percent were single. Single homeowners need less space, and a smaller home footprint means less to maintain – an important consideration for a homeowner who must tackle maintenance and chores alone.

Home features that appeal

In addition, first-time homebuyers have a different mindset regarding a home purchase. They look at the transaction as securing a place to live in, rather than an investment. While they have less to spend, they want the smaller space they can afford put to the most effective use. This means that the practical spaces they will use every day, like kitchens, laundry rooms and the master bedroom, are their key focus. They appreciate open spaces that can be defined by furniture rather than walls and hallways.

Home location is important to these buyers, who have a keen interest in transit-oriented communities. This makes urban areas highly appealing, as well as suburban areas with walkable town centers…”
Click here to read more blog posts by Brook Geisendorf.
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Q: We are trying to decide on selecting a Realtor. Our landlords and friends of three years would like to be our Realtors as we look to purchase our first home. The area we are interested in the most is not where they live, and we also want to keep all our financial options open (such as FHA loans and short sales/foreclosures). We trust them, but everyone we’ve spoken to who has purchased a home says that there is a conflict of interest here, since they have a stake in when we find a home and move out of our rental. If we trust them, should we proceed with using them? How can we clearly state our expectations in a new business relationship of buyer/client to Realtor instead of renter to landlord? – Anonymous

A: There are definitely a few red flags that need to be addressed in your situation. I feel that it’s in your best interest to politely decline working with your landlord as your agent. It’s critical to pick a top agent in your desired area as this will be one of the biggest investments that you are going to make. This will insure that you get the necessary information a buyer needs in order to negotiate smart and effectively.

Information is the most important element when looking for a home. With the right info you will know about the area, properties which might not be on the market but still for sale, the recent comparable properties that have sold, the listings that are going through a short sale and foreclosure process, and a very accurate understanding of what the home values are so you can be confidant that you are not overpaying.

Always be upfront with your real estate agent and educate them on your needs and wants to ensure a smooth home buying experience!



Chad Rogers is a Realtor and nationally-known real estate guru, featured in print (Parade, InTouch, L.A. Times), television (Bravo’s Million Dollar Listing) and online (Frontdoor, Luxist); he works with Hilton & Hyland in Beverly Hills, CA.

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Thanks to everybody who joined us on April 5 for the REALTOR.com® Quarterly Blogger Call!

We had our best turnout yet for our special guest speaker, Heather Elias, the author of the popular blog LoCo Musings in Loudoun County, Virginia.

An award-winning blogger, Realtor and mom of four, Heather shared her strategies for reaching an online audience using Facebook, Twitter, blogging, and traditional marketing.

Some of the takeaways:

• Make your blog your online hub.
• Your content ratio should be 5/1 in favor of value added content over self-promotional content.
• Merge your online and offline marketing efforts.

Later in the call, Realtor.com’s Online Community Manager Jill Kipnis dropped in and gave us an update on the new features on Realtor.com Blogs, and also shared some exciting recent successes for our bloggers, including national media breaks.

If you missed the call, you can catch up on Heather’s online strategies by viewing the slideshow below.

See you all at the next Quarterly Blogger Call!

- Audie Chamberlain, Social Media
Move, Inc./Realtor.com

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Q: I am attending graduate school in a six year long PhD program. My wife and I have no savings or investments beyond the $12,000 we plan to use as a down payment. My stipend is $17,000 a year with full tuition remission plus health insurance and my wife makes $30,000 a year. However, before we were married, my wife filed bankruptcy (2010). My mother is willing to co-sign on a loan but would not be contributing to our payments (I have fair credit and my mother has very good credit). We have $25,000 in student loan debt (both currently in deferment and remaining so until I graduate) and she has a monthly bankruptcy settlement payment of $350 until 2014. We’re looking at either paying about $1000 a month to rent a house/apartment or buying a house, probably for around $120,000, over the next six years. Can we afford a house or is it better for us to rent? – AH in Ohio
 

A: There are few separate answers to your question.

First: buying or renting? This is more of an investment question. In most, but not all, situations buying is economically more advantageous.

Second: Could you get a mortgage loan? – talk to two or three local lenders (starting with your Credit Union) and see what they say. Your chances for a loan are probably small. But you will never know unless you try.

Third: Could you buy a house without a loan? Possibly – try for Lease Purchase or Rent-to-Own. Get a Realtor to assist you.

And good luck to you and your wife!



George Szkup is a Realtor and Broker with Tucson Home Advisor in Tucson, AZ.
 

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The Basics: This 1929 bay view Miami manse has a glamorous past. Since we’re not above name dropping, we’ll spill that the estate was once owned by “American Idol” judge and celebrity name contraction J Lo.

Miami Beach is an urbane subtropical playground, South Beach and Salsa with a mojito thrown in for good measure. It’s a bikini worn with stilettos and home to the largest collection of Art Deco architecture in the world. This is not the Florida of blue-haired shuffleboard players and the early bird special.

The Details: 200 feet of Biscayne Bay frontage, coconut and royal palms, and a boatlift which can handle a 20,000 pound speedboat along with double jet skis are just the prelude. This manse from Miami Beach’s past  has been featured in The New York Times style section. Designers Lorraine Letendre and Edwina Von Gal transformed this residence into a sophisticated tribute to impeccable style, more Casa Armani than Jenny from the Block.

Coconut palms, Zoyzia grass, and Dominican coral stone frame the pool on Biscayne Bay.

The home’s design has maintained architectural integrity, balanced with contemporary flair.

The entire roof of the home was removed during extensive renovations to elevate the second story.

Arched windows open to exotic gardens in the formal dining room which also feaures vaulted ceilings.

The master suite offers a tranquil retreat.

We can only imagine this closet, filled with J Lo’s glam wardrobe!

The master bath features stunning spa appointments.

The home’s illuminated cupola highlights the formal entry.

We wonder if J Lo prepared some of her mojo-marinated Cuban beef or paella valencia in this luxe kitchen.

The Bottom Line: Did we mention the temperature controlled wine cellar which holds 600-800 bottles, the integrated security system, or the Lutron lighting? This is a popstar’s paradise. Poolside mojitos, anyone?

See the listing at REALTOR.com

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The government decided early on that the market would not be able to absorb the number of foreclosures that the financial crisis was creating without crushing house values. This was one reason that they funded the Troubled Asset Relief Program (TARP). This past week, the Congressional Oversight Panel (COP) weighed in with their opinion on TARP’s success and Carpentersville, Illinois Realtor® Jacek Domanski weighs in with his analysis.

“One way TARP was to accomplish ‘protecting home values and preserving homeownership’ was through the Home Affordable Modification Program (HAMP). According to the COP report:

…when the President announced the Home Affordable Modification Program in early 2009, he asserted that it would prevent three to four million foreclosures. The program now appears on track to help only 700,000 to 800,000 homeowners.

We want to say that, if hundreds of thousands of families averted the devastation foreclosure can bring, we consider the program as worthwhile. Successful? That’s a different story.

Another program initiated to help was HOPE for Homeowners. It was established by Congress in July 2008 to permit the FHA to insure refinanced distressed mortgages. However, as the report explains:

HOPE for Homeowners was initially expected to help 400,000 homeowners, but it managed to refinance only a handful of loans. This was likely due to the program‘s poor initial design, lack of flexibility, and its reliance on voluntary principal write-downs, which lenders were very reluctant to make.

The Only Good News?

The only silver lining is that TARP didn’t cost the taxpayer as much as was originally estimated. At what expense to troubled homeowners? In discussing the falling cost of the program COP stated:

 … a separate reason for the TARP‘s falling cost is that Treasury‘s foreclosure prevention programs, which could have cost $50 billion, have largely failed to get off the ground. Viewed from this perspective, the TARP will cost less than expected in part because it will accomplish far less than envisioned for American homeowners.

Bottom Line

TARP was set up to avoid home values being crushed under the weight of foreclosures. To that regard, it seems to have done nothing but delay the inevitable.”

Click here to read more blog posts by Jacek Domanski.

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by Bob Kelly, Guest Writer

“In all the years we have been including staging consultations as part of our listing services the same question from sellers arises, “What colors should we paint the rooms?” Or the other scenario is that sellers automatically assume that white or light beige are the safe bet colors. Here is the answer given from the professional home stager.

The best look a home for sale should have is one that inspires a sense of calm, warmth, and space. That is a tall order to expect from just one little paint chip. Here is the thinking and how to accomplish it.

When a home is painted in colors that create a calming influence, buyers will want to linger in them longer allowing them to envision their own furnishings and personal belongings in the space you are trying to sell. If the colors are harsh, overbearing, or unusual the brain reacts in a way similar to the ‘fight or flight’ syndrome — “That is just awful let’s get out of here!” Definitely not a reaction you want.

The same results can happen when rooms have no personality and feel cold and empty. Or when every room is painted in a different color giving the home a chopped up and cramped appearance.

Where to start? That is easier than you think. Go to a fabric store, particularly one that carries home decorator fabrics that must be ordered. They are the latest trend setters. Find one that appeals to you keeping in mind the colors of your existing furniture. Take home a small swatch that shows all of the colors used to make that fabric. Now the hard part has already been done for you!

Designers work tediously to come up with not only a pattern but a range of colors that complement each other to make that fabric appealing. You now have the opportunity to borrow from their expertise.  Those colors definitely work together and should be the basis for your selection of paint colors…”

Click here to read the rest of this blog post by Bob Kelly.

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Spring has sprung and the real estate rush has begun.  For those multi-million dollar lookie-loos, check out Realtor.com’s Top 10 Most Expensive Homes List to whet your appetite.

1. 14 bed, 27 bath Los Angeles, CA home listed for $150,000,000: (pictured above) The fountain and light show greet you at the front door. The grand, artistic staircase beckons you inside. And the architectural details of the lit crown molding and arched floor-to-ceiling windows in the sunroom invite you enjoy the lush, garden views.

 2. 13 bed, 23 bath Windermere FL home listed for $100,000,000: Surrounded by sand bottom lakes, this French Provincial estate sits on 10 acres and has private lake frontage and its own boathouse. Not all of the 66,800 square feet is completely built out, but is yours to customize as you wish.

3. 9 bed, 11.5 bath Stateline, NV home listed for $100,000,000: Stateline is home to five casinos, four of which qualify as resorts, but this 38,000-square foot, resort-style home comes with a game room, wine cellar and indoor pool for a getaway, every day.

4. 6 bed, 10 bath Hickory Creek, TX  home listed for $69,900,000: No need to escape to a resort destination – build it right in your backyard. With 48,000 interior square feet and 256 acres populated by gardens, private lakes and majestic trees anything is possible. It’s a developer’s dream.

5. 9 bed, 13 bath Beverly Hills, CA home listed for $68,500,000 Find the epitome of French elegance in one of the most sought after U.S. destinations. This three-level estate is adorned with craftsmanship and decor beyond compare: hand-carved imported limestone; onyx marble; 24-karat gilt; hand-painted designs; antique accessories and bronze-paned windows.

6. 12 bed, 17 bath Alpine, NJ home listed for $68,000,000

7. 9 bed, 13.5 bath Hobe Sound, FL home listed for $65,000,000

8. 9 bed, 6 bath Del Mar, CA home listed for $61,000,000

9.  10 bed, 12 bath Indian Creek, FL home listed for $60,000

10. 8 bed, 6 bath Steamboat, CO home listed for $59,500,000

Check out Realtor.com’s Facebook Real Estate Trends page to see weekly updates on the Top 10 Most Expensive Homes. ®

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Q: My wife and I divorced and had to sell the house. We owed $182,000, sold it for $190,000, which gives the Realtor a commission of $11,400. The bank will get their $182,000, which will leave $3,400 +/- between us. She can pay her half, but what happens if I don’t have my half? It could be anywhere between $1,500 – $3,000. – John in Georgia

A: The Realtor should have done an estimate of closing costs for you before you signed the contract. By doing this you should of discussed all your closing costs and Realtor’s commission before signing the contract. If it states you are willing to pay the realtor $11,400, then the commission will be taken out of the proceeds at closing. You both can sign a promissory note to pay the Realtor over time the amount you still owe.

Sandy Straley is a Realtor® with Rindlesbach Homes in Salt Lake City, UT.

A: Time is of the essence. If you get to the closing table and make this announcement your home might not close. You signed a contract with the listing broker and in that contract you agreed to pay the broker an agreed upon amount if your home was sold. If you make this announcement at closing your agent can produce the contact and present it to the closing agent. The closing agent has an obligation to insure they are providing clear and free title to the purchaser and there is a form used in most states that contains language that you haven’t made any changes or incurred debt that will affect title.

Now is the time to get honest so you won’t be surprised by your agents response(because they have performed according to the terms of your contract). Maybe the broker will reduce the commission and have you sign a promissory note for your portion. Maybe your wife just wants this to be over and she will pay the entire balance.Remember you agreed to pay so you want to come with a solution that allows you to close and insures the broker that you will pay what you agreed to pay.

Marki Lemons is a Realtor with Rubloff Residential Properties,South Loop in Chicago, IL.

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