A poignant moment

Last week was filled with smiles, screams, hugs, balloons, flowers, flying caps and tearful beaming parents as the Classes of 2010 graduated across the island. As a parent, you remember them all. I can still see my son in his kindergarten graduation gown – a large black trash bag with slits for the head and arms – walking along to pomp and circumstance to receive his diploma. Then there’s my daughter walking across the stage in her first pair of high heels when she completed the 8th grade, always the sensible one, she avoided the 3+inch heels some of her classmates attempted.

But this year one Alameda parent had the ultimate graduation experience.

Six years ago I joined the Alameda Education Foundation as Treasurer. By then Ron Mooney had already been working on behalf of public education for years. PTA’s, School Boards, Foundations, you name it, Ron was involved. Ron ran for the AUSD School Board in 2008 knowing we were heading into the most difficult times public education has faced. Fortunately for us, he won! So on Friday when his eldest son William stepped up to receive his diploma as a member of the Encinal High School 2010 graduating class, Ron had the extraordinary honor as President of the Alameda School Board to present his son with his diploma. A well deserved honor for a truly committed Alamedan. Congratulations Ron, William and all 2010 graduates!

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Okay, lets talk interest rates! Now, I've always made it a practice to let the mortgage professionals manage my Buyer's loan process so I can focus on the purchase process. I've found this works best for my clients and I have no intention in changing now. However, rates are so low right now I can't help but find myself talking about them.

On June 16 interest rates were as follows:

30 year fixed (below $417k loan amount) 4.625 with 1 point; 4.875 with 0 points;

30 year fixed (above $417k to $729,750) 4.875 with 1 point; 5.125 with 0 points.
15 year fixed, as above in first example, 4.0 with 1 point; 4.25 with 0 points.
(Provided by Peter Holmes of Sterling Mortgage)

In essence, if you have a $500,000 loan at 6% and you pay 1 point ($5k) you'll recoup your refinancing cost in about one year. If your interested in more information, call me and I'll be happy to refer you to someone who can help reduce your mortgage payments.

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Finally, I want to thank Joe at the Encinal Market for making another wonderful improvement to an already fabulous establishment. I've always loved the neon Van de Kamp's Bakery sign that stands at the corner of High St and Encinal. So what a special treat it was to glance in the direction of the sign on my way home and, lo and behold, the vanes on the windmill were spinning around!! It looks so terrific I just couldn't help but break into a big smile. Thanks Joe!!

That's it for this week, Monday marks the first day of summer so make it a good one!!

And to all you Dads, Happy Father's Day!