Every month in this space I give you the statistics on what the market is doing in Culpeper, Fauquier, Rappahannock and Prince William counties. (With Warren thrown in occasionally!)

What I haven't really talked about is where this data comes from and what inherent flaws there might be in this data. It now seems like I'm overdue for that discussion.

Each month the data I use as the basis for my analysis comes from the Multiple Listing Service (MLS). The MLS that serves our area is called MRIS. The data in this system comes from what the agents input. They input their listings and they input the information when it gets sold.

So, here's the first weakness in the system, the human factor. People forget, get lazy, get busy, etc. It's the same problem with every system, anywhere, run by people!

There are brokerages that still don't list properties in the MLS. They are few and far between, but a few of them still exist. (By the way, if you really don't want your house to get sold, just keep it out of the MLS!)

Builders generally don't list every house they have for sale in the MLS. They'll list, perhaps, one of each model they have. So the MLS always understates the total inventory and seriously understates new construction inventory.

While many For Sale By Owner (FSBO) properties are now in the MLS, many more are still not, relying on the handwritten sign in the yard. Again, this understates inventory.

But for whatever flaws there are, the MLS is the best system we've got. It's as close as I can get to getting a total snapshot of the market at any given time.

I know! You think I drank the kool-aid, finally! Or, you're worried that my brain has finally shorted out! (Or, maybe THEY got to me!)

I assure you none of the above is true!

Ignore all the hype from the real estate industry about now being a great time to buy. That's not what this is about. It may or may not be a great time for any specific individual or family to buy any specific house!

But, historically, a buyer has never had more power than they do today! And, I believe that's news. That's a good news story that we should all be able to get behind.

With the internet-based tools available to buyers today, they've never had the opportunity to be more well-informed. They have access to tax records and GIS from localities. They have access to maps from Google that make map fanatics like me drool! There are places like Zillow where you can get a "Zestimate" which, although flawed, is still a pretty amazing development. There are new sites such as FranklyMLS.com that are marrying Wiki functionality with MLS capabilities.

There's even more information available to help you choose an agent, whether that's reading their blog or checking out their ratings on sites such as QSC.

In fact, the buyer has so many tools these days that I suspect a lot of them are suffering from data overload. Data without thoughtful analysis can be more of a burden than a help!

Still, the tools are amazing! Regardless what prices do in the local market, a real estate buyer anywhere in Virginia has never before had the opportunity to negotiate from a stronger position!