Quantifying the School Board Issues

While I'm not a parent, and therefore have hesitated addressing the hovering Wake County School Board issues, these matters do affect my career. Good schools can make neighborhoods more desirable, while conversely, bad schools can stigmatize a neighborhood. Wake County has better schools and not-as-good schools, but overall our school system is far and away superior to those in other parts of the country.

That being said, I heard some statistics today that are STAGGERING. Based on these numbers, from Dr. Ann Denlinger, President of the Wake Education Partnership, it's amazing to me that the school assignment plan has gotten into the HOT MESS that it's in now.

Ponder this:

*If all students are assigned to the closest school to home, 19 schools would be AT OR GREATER than 150% capacity.
*If all students are assigned to the closest school to home, more than 20 schools would be at LESS THAN 50% capacity.
*In fact, Wake Forest Elementary would be at 267% capacity!
*If all students are assigned to the closest school to home, at least 15 schools would have 66% free and reduced lunch students
*If all students are assigned to the closest school to home, 27 schools would hve a student body with fewer than 10% poor students.

The ramifications of these numbers make neighborhood schools seem outragously unrealistic. By no means do I think I have a solution, but I'm not sure the current school board does either. Parents, understandably, focus on what is best for their children, but someone needs to objectively look at the big picture. What does that mean for you and me? We need to get out and VOTE come election day.

Thoughts?

Changes in FHA Mortgage Loan Fees

While these changes may not make mainstream news, or whether "the mainstream" understands what it means, the recently approved changes to FHA can affect YOU.

First-time buyers, as well as move-up and move-down buyers can all take advantage of FHA loans. They offer good rates, and are a bit more lienient than other loans with regards to debt-to-income ratios. Of course, FHA loans also require mortgage insurance--both an up-front fee and monthly fees.

Right now, up-front fees are 2.25% of the loan value. This fee will be LOWERED to 1% (nice!). The monthly mortgage insurance fee will increase from .55% to .9%, which will increase a buyers payments by approximately $30 per month on a $100,000 loan.

These changes are scheduled to begin with October 7, 2010.

WHAT THIS MEANS TO YOU: A buyer's monthly income will have to be a bit higher to qualify for the same purchase price.

REMEMBER: To everyone who is paying mortgage insurance, once you reach 80 or 85% loan balance to home value, you can probably have your mortgage insurance payment removed. Contact your lender for specific details--because I'm sure you can find something else to do with that extra money!

Cutting Edge Interiors

Does your home need "freshening up"? Call my friend Shaun Williams, the creative force behind Cutting Edge Interiors. He's done work across the state, the most recent being the renovation of a townhouse in North Raleigh. He uses color and texture, via a variety of materials to create a warm and inviting space. You can find Shaun on Facebook, as well as online at Cutting Edge Interiors. Tell him I sent you!

Coming Into the Light

I made it through registration, and I'm still here! I'm new to blogging, but if my dad can manage Facebook, it is time for me to step it up. I'm at the cusp of the generation for whom all things internet and electronic are intuitive, but not quite...

In a crazy real estate market, I think this blog will give me a place to reflect, respond and recount information and opportunities in the Raleigh area. If I can help you find a new home, a contractor or just pass information about what's going on in your area, I will consider my blog a success!