OWNERS NEWSLETTER – MAY 2007
A/C CHECKS AND SERVICING – We
have begun our annual servicing of air conditioning units for those owners that
have requested this maintenance. The service includes checking the wiring,
housing, and fan relay of the inside unit. The fan motor, housing, blower
wheels, air filter, thermostat, plenum, attic ducts, evaporator coils, and drain
lines are also checked. The outside unit coils, wiring, fan motor, blades, Freon
level, and pressure are checked as well. The cost of this service is $89.00 plus
tax and does not include parts should a repair be necessary. If you wish to have
your property added to our list, please contact Craig Watkins or Christina in
our maintenance department at 254-634-4105 or E-mail them at hrmaint@aol.com.
BIZARRE WEATHER – We
have definitely seen our share of weather extremes lately and last month was no
exception. After enjoying spring like temperatures in the eighties, Mother
Nature dumped four inches of snow on us over Easter weekend. The snow was the
wet variety and the weight of it caused many downed trees and power outages
throughout the area. Heavy rainfall and severe storms also swept through last
month causing some properties to flood while others experienced roof, fence, and
tree damage.
INTEREST RATES – Still
looking good. The present fixed rate for a thirty-year note is 6.375%.
A rate of 5.875% is available at a cost of nearly two points, or 2% of
the loan amount. The Fort Hood area continues to be a buyer’s market with
sellers and builders offering many incentives to buyers. Now is a good time to
purchase property or to refinance your existing mortgage if you can lower your
present interest rate by at least 2%.
DEPLOYMENT TOURS EXTENDED – Most
of you are already aware of the Pentagon’s recent announcement that beginning
immediately, all active-duty Army soldiers in Iraq will serve fifteen-month
tours, which is three months longer than normal. This means that the 1st
Cavalry Division will not be returning to ft. Hood later this year as expected,
and many soldiers will not be home for the holidays as hoped. A soft rental
market can be anticipated towards the year’s end.
APRIL TRAFFIC – Last
month’s rental traffic nearly mirrored that of March. We leased a total of
thirty properties. Of those properties we rented, twenty-seven were
single-family homes and only three were apartments. Renting multi-family
properties continues to be a challenge with so many vacancies throughout the
area. We ended the month with an overall occupancy rate of 92%. We also renewed
the leases of thirty of our existing renters.
David Gerke
CO-Owner/Broker