The above graph gives you an idea of what happened in the real estate market in 2007 as compared to 2006 when the market was the hottest for sellers.  In 2007, the number of home sales slowed and the number of days on the market increased; those are negative indicators.  The average sales price increased, there were few homes on the market for sale, and interest rates came down; those are positive indicators.  So what’s happening now?  Through February 8th of 2008 we have sold 14% fewer homes than we did during this same time period in 2007; the average sales price is 4% lower and the number of days on the market has risen by 14%; those are negative indicators. The positive news is that the absorption rate for homes under $275,000 is stable.  We have a 3-4 month supply of homes listed for less than $275,000.  When we have less than a 6 month supply of homes on the market, NAR (National Association of Realtors) defines that as a normal, stable market.  In 2007 we also saw our population increase to over 70,000 and new jobs went up by 1% and that was positive.  Together with low interest rates, I believe our market in 2008 will be similar to that of 2007 even though we seemed to have started out a little slower.  So for those homes priced under $275,000 and in good condition, they will sell with normal marketing time.  Those homes priced over $275,000 are in a pricing war and a beauty contest.  They need to be in the best condition and at the same time have the best price if they expect to sell.  If you want to know specific information about your home, please call or email me.  Kristan