Traffic stats: Monthly visitors: 1100+ Monthly page views: 2200+ Alexa rank: 519k Ad spaces available: 3 125x125 ad spaces. Right of every page. $1.50 a month. 1 460x68 ad space. Top of every page. $2.00 a month. Thanks, Zach, the 12 year old money makin guru!
It might be a really good site but the traffic is still very low and you have a very limited readership. It might have been worth building the blog first for a couple of months (with no advertising), then actually start selling advertising at a higher rate, but at least on a site that is being read and has traffic.