After 21 year in this business I have to ask if the internet, 24 hour news channels, cell phones, text messages and every other form of instant communication has contributed to this highly unusual real estate market. 

In a earlier blog post I noted that vacant waterfront prices are stable in our area and this is due to few properties selling.  If you have few sales you can't have panic selling.  No sale ...no price drop...its that simple. 

It seems that every time I turn on the news I hear about record this and record that.   Why don't they ever give us statistics?  Why always just say we hit a record?  When they tell us per barrel oil prices, they follow with how much it is. 

My feeling is that the news cannels don't want to us to know just what percentage of the market it really is.  I am not even sure but I heard the number of 4% recently.  If in the past it was 2% then you could say they doubled...right?  

Let's look at that in perspective.  If those numbers are correct then 4out of 100 homes are in foreclosure.  On the grand scheme of things that does not seem so bad (unless you are on of the 4).  I t seems to me that the public is scared to spend a nickel unless it is either a steal or someone gets on the news and says the worst is over.  I can't wait for that day.