My fiance went outside to let the dog out, and immediately flagged me over to come see what was in the sky. It was extremely bright, and looked somewhat like a star, but only because it stayed in a constant position. It flashed at a constant rate, and looked to have a red and white flashing light. After about 10 minutes of just staring at it in awe and wondering if we were crazy, we saw an airplane fly right into its direction. A few moments later, we saw another encounter with another airplane. This time, it got much closer to the UFO (For lack of better terms) but still appeared to keep a good distance between the two. After several more minutes, the hovering object finally moved for the first time (that we saw) and again, hovered again, only this time a few miles over. The air traffic at this time became very odd to us, and we had seen 4-5 airplanes in the area. We couldn't believe what we were seeing, and were hesitant to make phone calls in fear of sounding insane, so I guess this was our best option. Just hoping someone else saw what we did!!