SUCCESS

To laugh often and much; to win the respect of intelligent people and the affection of children; to earn the appreciation of honest critics and endure the betrayal of false friends; to appreciate beauty, to find the best in others; to leave the world a bit better, whether by a healthy child, a garden patch or a redeemed social condition; to know even one life has breathed easier because you have lived. This is to have succeeded.

~ Ralph Waldo Emerson

Tyson's Tunnel Town Hall 2

Monday, December 4th @ 7pm

at The Barns at Wolf Trap

Due to overwhelming requests there will be another TysonsTunnel Town Hall Meeting on Monday, December 4, 2006 at 7 p.m. at The Barns at Wolf Trap in Vienna. If you live, work, or play in the Tysons Corner area and want to learn more about why a tunnel for Metrorail is the common-sense approach, why it is critical that we insist on an open bidding process, and want to hear from community leaders and tunnel experts, you'll want to be there.

Tysons Tunnel, Inc., cordially invites you to attend this very vital and important event on December 4, 2006 at 7:00p.m. at The Barns of Wolf Trap 1635 Trap Rd. Vienna, VA 22182. Your attendance will add to the discussion and allow you to hear from a broad spectrum of your onstituents, civic and business leaders, homeowner associations and numerouscitizens of Tysons Corner and the surrounding communities. For additional information visit www.tysonstunnel.org

If you have friends, colleagues, clients who are interested - INVITE them. Pass the word – this is a true grassroots effort!

HOUSE PRICE APPRECIATION SLOWS FURTHER

OFHEO House Price Index Shows Declines in Five States, Continued Deceleration in Others

WASHINGTON, D.C. – U.S. home prices rose in the third quarter of this year, but the rate of increase continued to slow and some areas experienced actual price declines. Nationally, home prices were 7.73 percent higher in the third quarter of 2006 than they were one year earlier. Appreciation for the most recent quarter was 0.86 percent, or an annualized rate of 3.45 percent. This reflects a further slowdown from that reported for the second quarter when the quarterly appreciation rate was 1.3 percent and the annualized rate was 5.1 percent. The quarterly increase is the lowest since the second quarter of 1998. The figures were released today by OFHEO as part of the House Price Index (HPI), a quarterly report analyzing housing price appreciation trends.

“Our newest data confirm last quarter’s data that the housing market is in a decidedly different stage,” said OFHEO Director James B. Lockhart. “With U.S. house prices growing less than one percent during the third quarter, it provides more evidence that the long-forecasted national deceleration in house prices is occurring. Given the five-year appreciation prior to this quarter of 56.8 percent, the slowdown is not unexpected. There are still some areas where appreciation rates remain very high but now they are the exception rather than the norm,” Lockhart said.

Since the spring of 2004, year-over-year house price appreciation has fallen from a peak of 13.9 percent to 7.7 percent this quarter. Despite the deceleration, house prices grew faster over the past year than did prices of non-housing goods and services reflected in the Consumer Price Index (CPI). CPI prices rose 3.1 percent.

The findings of the third quarter HPI show varying trends in different parts of the country.
1. The quarterly appreciation rate fell in seven of the nine Census Divisions. The West North Central and East North Central divisions had small increases over weak second quarters.
2. Five states -- New York, Rhode Island, Michigan, New Hampshire, and Massachusetts -- saw price declines from the second to the third quarter of the year.
3. Michigan was the first state to show a year-over-year decline in more than six years. Prices fell in Michigan 0.6 percent between the third quarter of 2005 and the third quarter of 2006.
4. Appreciation rates remain at or near record-setting rates in areas affected by Hurricane Katrina. Baton Rouge, Gulfport-Biloxi, and Mobile all had their highest four-quarter appreciation rates ever with four-quarter price growth of 14.1, 23.3, and 17.5 percent respectively.
5. Idaho now tops all states with the highest four-quarter appreciation rate with prices 17.5 percent higher in the third quarter of 2006 than they were a year earlier. Other states with still large year-over-year increases were Utah (17.4 percent), Oregon (16.9 percent), and Arizona (16.4 percent).
6. Quarterly price declines occurred in more than half the cities in California. Fifteen of 25 California cities in OFHEO’s list of ranked Metropolitan Statistical Areas (MSAs) and Divisions experienced price declines relative to the second quarter.

“House prices continued to rise through the third quarter in most of the country, but generally at only low or moderate rates,” said OFHEO Chief Economist Patrick Lawler. “The transition from sizzling markets to normal or weak markets has been orderly so far, and recent drops in interest rates lessen the likelihood that precipitous changes will occur.”

OFHEO’s House Price Index is published on a quarterly basis and tracks average house price changes in repeat sales or refinancings of the same single-family properties. Changes in the mix of data from refinancings and house purchase transactions can affect HPI results. An index using only purchase price data indicates somewhat less price appreciation for U.S. houses between the third quarter of 2005 and the third quarter of 2006. That index increased 6.0 percent, compared with 7.7 percent for the HPI.

OFHEO’s index is based on analysis of data obtained from Fannie Mae and Freddie Mac from more than 31 million repeat transactions over the past 31 years. OFHEO analyzes the combined mortgage records of Fannie Mae and Freddie Mac, which form the nation’s largest database of conventional, conforming mortgage transactions. The conforming loan limit for mortgages purchased in 2006 is $417,000 and will remain unchanged in 2007 as announced on November 28.

This HPI report contains four tables: 1) A ranking of the 50 States and Washington, D.C. by House Price Appreciation; 2) Percentage Changes in House Price Appreciation by Census Division; 3) A ranking of 275 MSAs and Metropolitan Divisions by House Price Appreciation; and 4) A list of one-year and five-year House Price Appreciation rates for MSAs not ranked.

OFHEO’s HPI report in PDF form is accessible at http://www.ofheo.gov/. Also, be sure to visit http://www.ofheo.gov/ to use the OFHEO House Price calculator. The next HPI report will be posted March 1, 2007. Please e-mail ofheoinquiries@ofheo.gov for a printed copy of the report. Full PDF of report is at: www.ofheo.gov/media/pdf/3q06hpi.pdf

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OFHEO's mission is to promote housing and a strong national housing finance system
by ensuring the safety and soundness of Fannie Mae and Freddie Mac.

Creating Wealth Through Residential Real Estate Investments

KIM DARWAZA COMPLETES RESIDENTIAL REAL ESTATE INVESTMENT COURSE

Fairfax---November 16,2006---Kim Darwaza has completed the specialized real estate investment course entitled “Creating Wealth through Residential Real Estate Investments” conducted by the Council of Residential Specialists of the NATIONAL ASSOCIATION OF REALTORS®.

This course was conducted in Springfield and is one of the classes that could be taken by real estate agents and brokers who will eventually qualify for the coveted Certified Residential Specialist (CRS) designation.

The course covered the fundamentals of investment, taxes affecting real estate investment, and investment strategies to create wealth.

During the two-day course, students learned how to effectively analyze residential real estate investment opportunities and apply wealth-building strategies.

“There are many opportunities for the small investor to invest successfully in real estate,” said Darwaza, “and I Have already begun to apply the procedures covered during this course in my work at RE/MAX Allegiance.”

Certified Residential Specialist Courses are presented in various cities throughout the United States in conjunction with the COUNCIL OF RESIDENTIAL SPECIALISTS an affiliate of the NATIONAL ASSOCIATION OF REALTORS® as part of its on-going program of promoting the professionalism of the residential sales associate.