Home sale decline numbers - calm down, everybody

I'm sure nobody has missed the latest headlines -- real estate prices are down.  And not to put a glossy spin on this, BUT: Los Angeles is only down 1.7% from March 2010.  Remember, all real estate is local (property investors and flippers are out in full force right now).  The good news is that the national bad news has caused interest rates to go down, still, again. I personally am seeing many buyers in all price ranges in Studio City, Burbank, Encino, North Hollywood, etc. So please, don't anybody panic!