FREE BREAKFAST FOR ALL DISD STUDENTS

Dallas ISD was selected to share a $3 million Walmart Foundation Grant to fund the Breakfast in the Classroom program. This program provides free breakfasts to all students in their classrooms while they start on their daily lessons. Several DISD schools participated in this program this year and for the 2011-2012 school year it will be expanded to all schools.

Mortgage Rates Hit New 2011 Low

Rates on fixed-rate mortgages dropped slightly this week, hitting new lows for the year, according to Freddie Mac which just released the results of its latest Primary Mortgage Market Survey.

Although lower rates often trigger applications for refinancing, loan demand from buyers who wish to purchase has also picked up and was slightly stronger a year ago, according to a separate survey by the Mortgage Bankers Association.

Freddie Mac's survey showed rates on 30-year fixed-rate mortgage averaged 4.6 percent with an average 0.7 point in the week ending May 26, that's down from 4.61 percent last week, and 4.84 percent a year ago.

Rates on 30-year fixed-rate mortgages hit an all-time low in Freddie Mac records dating to 1971 of 4.17 percent during the week ending Nov. 11, 2010, before climbing to a 2011 high of 5.05 percent in February.

Rates on 15-year fixed rate mortgages averaged 3.78 percent with an average 0.7 point, down from 3.8 percent last week and 4.21 percent a year ago. Rates on 15-year mortgages hit an all-time low in records dating back to 1991 of 3.57 percent in November.

Renting vs Owning

You may be able to own a home for not much more than you are paying in rent. Check the chart below to see how quickly rent payments can add up. Maybe it’s time for you to invest that money in something that lasts — a home of your own.

Monthly rent	3 years	10 years	15 years	30 years
$500	$18,000	$60,000	$90,000	$180,000
$600	$21,000	$72,000	$108,000	$216,000
$700	$25,400	$84,000	$126,000	$252,000
$800	$28,800	$96,000	$144,000	$288,000
$900	$32,400	$108,000	$162,000	$324,000
$1000	$36,000	$120,000	$180,000	$360,000
$1250	$45,000	$150,000	$225,000	$450,000
$1500	$54,000	$180,000	$270,000	$540,000

For many homeowners, the after-tax cost of a home loan could be less than the cost of rent. That’s because the interest portion of each mortgage payment may be tax-deductible. In most cases, property taxes are also deductible. You should consult a tax advisor for details.

If you clients are thinking about buying a home I can help. Take the first step and contact me today!

Dodies Opening Next Week In Rebuilt Lower Greenville Building That Burned Down Last Year

Residents along Lower Greenville Avenue have watched fire destroy some historic buildings in their neighborhood twice in the last decade. Arcadia Theater was completely burned to the ground, and a vacant lot is all the remains where it once stood. It burned in 2006.

Where the 1930s building in the 2800 block burned last year, there was hope that the façade would hold up while the debris was cleared. For months, the front was reinforced with metal supports to keep it from toppling.

The new Art Deco-style building is nearly complete - and more than 80 percent of the original 1931 cast-stone and brick façade was preserved according to landlord Jon duPerier of Greenville Landmark Venture. This week, the first of three restaurants opens in the new building.
Chris McGuinness, owner of Dodie's Cajun restaurant, plans a soft opening this week with family and friends. They expect to be fully operational next week. With a roof-top deck, his inside oyster-bar sign, and the bar that opens directly to the sidewalk patio, this will definitely be a hot spot you will want to put on your restaurant list.

Dodie's is no new comer to the area. They have a restaurant just a few blocks south on Greenville Ave. and some of the best cajun seafood in the metroplex.

Dallas Mayoral Election

Well it appears we are headed for a runoff election for the city of Dallas Mayoral election. As Mike Rawlings clearly is the front runner in this election David Kunkle will apparently by the runner up in the runoff. Ron Natinsky ceded out of the election as he was unable to attain any significant amount of votes.

It looks like the runoff election will be scheduled for June 18th. Who do you think should be the next Dallas Mayor and why?