The Prince William County (PWC) Board of Supervisors (BOS) asked the PWC Future Commission to fan out across the County, interview residents about their hopes and dreams for the future, and compile a report titled Prince William County 2030. Residents were specifically asked to describe their mos
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01/31/2008
Watching some so-called experts parade in front of the news cameras this morning, it was funny to hear some of the comments. One "expert" said the Fed's recent cut (exactly one week ago) has had no effect on housing. This shows how little understanding some "experts" have about the way short-
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01/29/2008
All of my lender contacts are abuzz about what may happen this week if the loans that conform to Fannie Mae and Freddie Mac funding guidelines is raised over $600,000. Rumors are zooming around like confetti in a tornado. Some say, "Conforming money will go to $625,000." Others say, "I hear $700,
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01/27/2008
Here is a portion of today's mortgage market e-mail from my buddy, "Big Dave" of Nations Home Funding."The "Maestro", former Fed Chair Alan Greenspan, is back on the soapbox - but this time with a more positive tone. While he still thinks the chance of a recession (2 consecutive quarters of nega
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01/25/2008
Have you noticed that new homes are rising out of the ground all over Prince William and Woodbridge in the middle of a "real estate slump"? How come builders are still selling when existing home sales SEEM to be stalled? Price. Builders price homes with their HEADS; too often, home owners price t
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01/24/2008
Rates on fixed-rate loan products have dropped big-time over the past 30 days.I had a casual conversation last night over cigars and Diet Pepsi with a pal who is a Mortgage Planner.He has a 5.675% (Five and five-eights percent) loan on his rate sheets this week.My buddy, "Big Dave" has a strategi
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01/23/2008
Any time the Federal Reserve Board changes interest rates on the money they use for short-term loans in and out of banks, I get lots of questions from ordinary folks about the potential effect on mortgage interest rates.My typical answer is, "Effect on mortgages? Not much, and not any time soon"
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01/22/2008
I moved to Prince William County in 1983 when most of the county was a vast wilderness, criss-crossed with windy two lane roads that ended in the middle of nowhere. Fast forward to 2008. Prince William County is now a lush, inviting place to live, work, and play. I say lush, because the County s
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01/17/2008
According to industry statistics, 98%+ of all homes sold get sold by two agents, the seller's listing agent, and the buyer's buyer agent. Less than 2% of homes sell because the listing agent brings the buyer to the table.When the 2000-2005 real estate market rose higher, and home sold seemingly
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01/14/2008
My dear old mentor, Dallas Wood, gave me some insight many, many years ago that has been useful through market changes."Erick, when you see news stories that say 'Real estate is it going up like a rocket so buy now before you are priced out of the market', you better start cutting expenses, and l
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01/13/2008
