Remember going to a class years ago when the instructor suggested that we always respond with "It's incredible" when asked how the real estate market is.  The questioner then has to determine what you really mean.

The state of the real estate market in each of our areas probably differs a great deal.  As a matter of fact it may even vary so much that asking you that question today may get a different response than it would tomorrow.  Lots of variables enter into the equation!  If two of your listings got contracts on them and you made an appointment to show homes this coming weekend, your response would probably be that the market was red hot.  If two of your listings expired and the seller does not want you to continue marketing their home and if you don't have an appointment on either Saturday or Sunday, the market "stinks."

Yesterday my daughter (Dawn DeGroff) told me that she had heard an ad on XM Radio sponsored by NAR.  The president mentioned that 2006 was the third best year ever for real estate in the USA.  Dawn's question was "Where?"  A good question when you consider the market here in Fredericksburg Virginia.  Think that the only indicator that showed improvement was the Median Sales Price.

That brings me to the question of the day: "What do you use to judge the market conditions in your area?" And please my friends, no "It's incredible" responses.

Your Fredericksburg Virginia Real Estate blogger.