Read this snippet from a transcript of builder Centex's recent conference call with Wall Street analysts (Thank you, Seeking Alpha!) ...Alex Barron - Agency Trading: Hey, guys. Wanted to ask you questions on this transparent pricing strategy. I guess, I am just trying to understand it seems to be obviously working and it seems pretty logical so I am trying to figure out why do you suppose other builders aren't copying what you are doing and if they did what would you do compared to that or relative to that?Timothy Eller - Chairman and Chief Executive Officer: Well I don't know the answer to that. I would speculate that from standpoint of some private builders they may just not have the ability to do that. And based on the further question, what we are seeing is increasingly more and mor... 01/31/2008

The Federal Reserve cut its key interest rate another half-point, to 3%, as part of a continued effort to keep the U.S. economy from falling into a recession.Here's the Fed's thoughts on housing ...Moreover, recent information indicates a deepening of the housing contraction as well as some softening in labor markets.To read the entire Fed statement, CLICK HERE!Pimco Fed watcher Paul McCulley says ... "The right stuff - half percent, with a balance of risks statement skewed to concerns about growth, leaving the door open for more. ben is honoring the covanent he made with the markets on Jan 10: You become more risk seeking and I will back you. Yea verily, he has." 01/30/2008

Westmareket is a community located in Haymarket, Virginia off of route 15...just less than a minute off the Haymarket exit.  It is a newer community, large colonial style homes.  There are no traditional community amenities, such as a pool, playground etc..There are currently 10 single family homes, active on the market in Westmarket, ranging in  price from $434,000 to $665,000. There are currently no homes under contract, and there have been no homes that have sold in the last 30 days.  If you are looking for a home in the Haymarket area or Northern Virginia, give me a call.... Konnie McKee, Your Northern Virginia REALtor 01/26/2008

If you are a first time home-buyer and are currently renting, you may be able to afford your own home!!  There are many programs, FHA, VHDA programs, along with non profit, grant assistance programs, to help give first time home buyers the leg up they need.  If you are interested in buying a home...call me to get prequalified.  Then when you are ready to look at homes, Call Konnie McKee703 407 7088....she is a great agent, I also happen to be partial, she is my wife...and a great agent... Benny "The Loan Ranger" McKee703 407 9398   01/24/2008

It might become a little cheaper to buy a home. Part of the government's economic stimulus package announced Thursday (DETAILS HERE) would boost the size of so-called "conforming" mortgage loans (under $417,000) bought by government-sponsored agencies. That move could allow more borrowers to find lower rates when buying a home or when refinancing an existing mortgage.The current limit is $362,000 for Federal Housing Administration loans and $417,000 for loans sold to Fannie Mae and Freddie Mac. Interest rates are lower for "conforming" loans, and "jumbo" loans exceeding those amounts have become much harder to get since the credit crunch hit last summer.Meanwhile, the Mortgage Bankers Association reports today on a mini-refinancing boom nationally. Refi applications are up 92% since Nov... 01/24/2008

Piedmont Country Club is a gorgeous gated, golf course, community located at route 15 and rout 66 in Haymarket, Virginia.   Piedmont's amenities include golf course, swimming pools, tennis courts, club house, and playgrounds..There are currently 26 single family homes on the market in Piedmont Country Club, ranging in price from $425,000 to $1,299,000 There are currently 3 homes under contract in Piedmont Country Club ranging in price from $524,900 to $869,900There have been no homes that have sold in the last 30 days in Piedmont Country Club.Looking for a home in Prince William, Fairfax, Fauquier or Loudoun County?  Give Me a call 703 407 7088...Konnie McKee, Your Northern Viriginia REALtor 703 407 7088 www.KonnieMac.com 01/23/2008

Mortgage insurers PMI published their latest home-price risk study ... and guess who's near the top? PMI economists juggle price momentum, affordability, regional economics and mortgage-payment problems to come up with their index, that translates to chance of home-price declines in the next two years in the 50 top U.S. markets. Here's the dirty dozen, PMI's riskiest ...Riverside-San Bernardino-Ontario, CA - 94%Las Vegas-Paradise, NV - 89% Phoenix-Mesa-Scottdale, AZ - 83%  Santa Ana-Anaheim-Irvine, CA - 81% Los Angeles-Long Beach-Glendale, CA - 79% Fort Lauderdale-Pompano Beach-Deerfield Beach, FL - 78% Orlando-Kissimmee, FL - 74%Sacramento-Arden-Arcade-Roseville, CA - 73%Tampa-St. Petersburg-Clearwater, FL - 72%West Palm Beach-Boca Raton-Boynton Beach, FL - 71%San Diego-Carlsbad-San Ma... 01/18/2008

Thanks Greenspan. Your 2004 Fed speech helps me complete my series of today's reality check: "American consumers might benefit if lenders provided greater mortgage product alternatives to the traditional fixed-rate mortgage. To the degree that households are driven by fears of payment shocks but are willing to manage their own interest rate risks, the traditional fixed-rate mortgage may be an expensive method of financing a home."At the time Greenspan was the Master of the economy.  So like good little boys, lenders provided greater alternatives.  Let's see, we had Pay Option ARMs, interest-only, 2/28, 3/27, 15 year, 30 year, 40 year, and of course many of these were available via stated income no documentation loans. Those old-fashion traditional mortgages were expensive ways of financ... 01/15/2008

If you are waiting for the Fed to save us, you might want to look elsewhere for your ray of sunshine.  In his latest Financial Market Strategies report, Wells Fargo senior economist Eugenio J. Aleman indicates that people banking on a Fed rate cut to spur home sales are looking in the wrong place for help. In fact, he thinks that even if the Fed slashes rates it would do little to help the market. Here's his reasoning:"Let's say that the Federal Reserve lowers the Federal Funds rate to 2%, does this mean that we are going to start buying homes and U.S. automobiles again? The reason why nobody is willing to buy a home today is not that interest rates are too high; the reason is that home prices are too high. Nobody will want to buy a home today when they know that if they wait they could... 01/15/2008

If you currently have an adjustable rate loan or would like to take cash out, you are in luck, rates are low.  It is important, when selecting a loan officer, that you would with someone that you feel will look after your best interest, yes, we have to earn a living, but we don't have to earn it ALL at one time.  I am straight, forward, and offer excellent customer service, if you need a loan, give me a call... Benny "The Loan Ranger" McKee 703 407 9398 if you are looking to purchase a home in Northern, Virginia, you're in luck..I happen to know a great real estate agent (I am married to her, yes I know) but it doesn't change the fact that she's a great agent, her name is Konnie McKee, give her a call, you'll be happy you did 703 407 7088 Benny McKee, Greenway Financial 703 407 9398  01/14/2008

It's not my intent to add fuel to the negative fire, but I am beginning to see the end of the Buyer's Market.  Unfortunately, I think it's the beginning of a "Lender's Market." What do I mean by this?  Seller's Market = Sellers dictate price and terms (Woe to Buyer)Buyer's Market = Buyers dictate price and terms (Woe to Seller)Lender's Market = Lenders dictate terms and make it impossible to get a loan (Woe to Everyone)It's hard to argue that lenders are returning to the practices that did not fail them in the past. A lender's bread-and-butter is a 30-year, fixed-rate, conventionally amortizing loan based on 80% of appraised value taking no more than 28% of a borrower's gross income (36% maximum total debt.) This is what is coming and it will be a catastrophe for sales volumes and home ... 01/11/2008

Online home-price tracker Zillow says it's deepened its database and upgraded its valuation math (RELEASE HERE.) The company''s "Zestimates" have drawn healthy criticism for frequent inaccuracies.  However, has more homes are brought into the database, accuracy are expanding down to the county level.Zillow indicates the Washington Metro data now has 97% of the homes with Zestimates, 41% are within 5% of the selling price, 65% are within 10% of the selling price, and 84% are within 20% of the selling price.Prince William data has 87% of the homes with Zestimates, 43% are within 5% of the selling price, 68% are within 10% of the selling price, and 90% are within 20% of the selling price.By the way, Zillow puts typical Prince William home values down 9.0% in a year.Why not try Zillow out a... 01/10/2008

United Van Lines' annual report on where its moving vans take people shows that Washington DC last year again had far more  moves IN than relocations out.United says it had 1,116 (58.5%) inbound moves to DC last year vs. 793 (41.5%) of their business. DC has remained inbound since the inception of the study (1977).Virginia (51.6%) stayed strong with its 12-year inbound trend.  However, Maryland (54.1%) retained its 16-year outbound tradition.  Michigan (67.8%) once again captured the top outbound spot, followed by North Dakota (67.2%) and New Jersey (61.0%.) National report IS HERE.These United Van stats, usually seen as a barometer of management-level relocations, reinforce the notion that many families find the Northern Virginia - D.C. area a good place to call home, particularly due ... 01/10/2008

The inventory of Foreclosure or Bank Owned Properties has increased over the past year and a half.  Purchasing one of these homes may provide buyers with an opportunity to get into a home under market value.  Although, they may seem like a "good deal"  often times these homes may need repair work, cleaning, or appliances to be replaced...When you are looking for a foreclosure home, you will need to have an agent who can help you sift through all the, many factors that are involved in purchasing a foreclosure.....Give me a call, my name is Konnie Mckee, I am a real estate agent in Northern Virginia... my cell phone number is 703 407 7088 or visit me on the web http://www.konniemac.com/ 01/10/2008

Here's a condo that reduced its price to SELL!  It's a Foxfield Model by Toll Brothers in the active adult community of Regency (Hayrmarket, VA).  Only slightly more than a year old, this home is beating it's new home rivals by as much as $60,000.  The third floor (top floor) is a sought after location due to the cathedral ceiling in the living room.  This one detail makes a big difference.The kitchen is gorgeous with granite counters, upgraded appliances, cherry cabinets and hardwood floors.  And it overlooks the family room. The dining room offers a more formal appeal with two tone paint making the chair rail, extra thick crown molding and stand out.Finally, the Master Bedroom and Bathroom offer a daily retreat.  Second bedroom is a generous size and easily accessed the second full ba... 01/10/2008

Many folks have been telling me that Coach Gibbs retirement is a good thing.  He was only 31-36 in the past four years.  A losing record.  I typically rebut with 2 playoffs in the last 3 year vs. 1 in the previous 12. However, the one thing that people forget is that Gibbs brought an air of character back to the team.  In an era when the flash and glitter becomes the norm, we tend to accept that the ends justify the means.  This style has led to some of the Code discussions in my previous posts. The Patriots are 16-0 yet so many people do not like them.  Barry Bonds broke the homerun records. Yet folks want an asterisk next to his name.  Are they simply jealous? Perhaps.  I think it's the character that they showed while they were completed these feats.  The same is true in this busines... 01/09/2008

If you want to list your home for rent in Haymarket, Virginia...You're in luck!!  My name is Konnie McKee and I am a real estate agent specializing in Prince William County.  While I do serve other counties, I live, work and play in Prince William County... I have been having great success with my rental listings, and I can can help you.  I am a showcase agent for realtor.com, which means your rental will get a virtual tour, and photos, most rental listing don't..... :)  Give me  a Call 703 407 7088 or visit me on the web http://www.konniemac.com/  01/04/2008

In a market when appraisal values make it hard to refinance, one option is still available.FHA Streamline Refinance Normally to refinance, you must qualify by providing all of your income, banking, credit, and liability information as well as an appraisal.  With a FHA streamline refinance a property appraisal is not required.  However, the new loan amount cannot exceed the original loan amount. The FHA streamline mortgage programs are great if you like little paperwork and no hassles.FHA Streamline finances can also be used to shorten a 30 Year Loan to a 15 year as well as to take one out of an FHA adjustable rate mortgage. The main qualification standard is a timely mortgage payment history. The basic requirements of an FHA streamline refinance are that your present mortgage must alrea... 01/03/2008

EVERGREEN ESTATES LUXURY SINGLE FAMILY HOMES There are 9 "ACTIVE" Luxury Single Family Homes for sale in the Evergreen Estates subdivision of Haymarket. These homes are priced from $1,499,000 up to $1,980,000. The Average Days on Market for these properties is 130 days. Currently, there are NO Single Family Homes in the Evergreen Estates subdivision "UNDER CONTRACT". In addition, there are NO Single Family Homes available for rent at this time. For recent SOLD information please contact me directly. Are you interested in finding out how the real estate market has affected your area? Now you can get the latest market reports for your community just by clicking on the appropriate link. Bristow, Catharpin, Dumfries, Gainesville, Haymarket, Manassas, Nokesville, Occoquan, Triangle, Woodbrid... 01/02/2008

Residential Homes trended DOWN by 9.1% during 2007Average Original List Price:                           $590,499Average Sales Price:                                    $549,690 (93.1% of Original Price) Average Days on Market:                             133Average Homes Sold per Month:                   27Total Sold in 2007:                                      320Currently Active Listings:Average List Price:                                       $608,055Average Days on Market:                             254Total Listed:                                               290As we enter the new year, it is important to know the path the market is currently on.  Sellers need to lead the market not follow.  Continually lagging behind the trend will lead to higher days on the market and lower... 01/02/2008