The headlines scream at you from the newspaper, your home page, and the talking heads on television. All the “experts” have something different to say. New home construction is down… that’s bad. Housing inventory is down… that’s good. Median prices; average days on the market; Las Vegas this; California that; blah… blah… blah.

There’s one bit of information essential to helping you make sense of all the random statistics coming at you about the Real Estate market. It’s your key to making smart decisions about your home: All real estate is LOCAL.

You need to know what’s happening in Colorado, what’s happening in Denver, and MOST importantly, what’s happening in your neighborhood. The top economist for the National Association of Realtors (NAR), Lawrence Yun, said it just a few days ago when he was in Denver, “It’s nonsensical to concentrate on a national figure. Local information is far more relevant.” In short, you need to look beyond the headlines.

Let’s take a single example: MSNBC reported in January that “Sales of existing homes fell in December, closing out a horrible year for housing in which sales of single-family homes plunged by the largest amount in 25 years.” Are you ready for the big “plunge” in that “horrible year?” Read on. Housing prices were down 1.8 percent nationally for 2007 according to NAR. 1.8%!? Hardly a “plunge.” And what does that number tell us about Denver? Exactly nothing. If you lived in West Highlands you might want to know that the average sales price there was up 7%, and in Sloan’s Lake, the average price is up 5.1%. If your home is in Chaffee Park, the average sold price there was down 9.4% over last year.

If you’re interested in what’s happening in your neighborhood, dig a little deeper by doing some research. There are great online tools available to the public. Or talk to a smart Realtor. Read beyond the headlines. Tune out all the noise. The real estate news that affects you most is local, and that’s what this blog is all about. Stay tuned.