OWNERS NEWSLETTER – APRIL 2018
“The surest way to corrupt a youth is to instruct him to hold in higher esteem those who think alike than those who think differently.” -Friedrich Nietzsche
DEPLOYMENTS – Fort Hood’s 3rd Cavalry Regiment will be deploying approximately 4,000 soldiers to Iraq in the coming weeks in support of Operation Inherent Resolve. Another 3,500 soldiers with Fort Hood’s 1st Armored Brigade, 1st Cavalry Division, will also be deploying to Germany in support of Operation Atlantic Resolve.
RENTAL MARKET – We are keeping a watchful eye on the housing market to see if the sizable upcoming deployments have any impact on rental market. Thus far, troop rotations to and from Fort Hood haven’t showed any signs of slowing demand for rental housing. We leased thirty-two properties last month (twenty-nine single family homes and three apartments) and ended the month of March with an overall occupancy rate of 99%.
MORTGAGE RATES – Mortgage interest rates continue to climb and are now at highs not seen since 2014. Presently, the 30-year fixed rate on a conventional loan is 4.625 %. The current rate for 30-year fixed rate VA and FHA loans is 4.25%. In spite of the increases, the current rates are still relatively low, making now a good time to consider making a real estate purchase or perhaps refinancing an existing mortgage.
TOP 100 – Killeen, Texas was recently ranked among one of the country’s top 125 places to live in a recent US News & World Report study. Killeen was ranked 90th out of 125 metro areas in the United States based on quality of life, job market, and other factors such as low cost of living and shorter commute times. Austin, Texas came in at the #1 spot, San Antonio at #14, and Dallas Fort Worth at #18. More information on the study can be found at https://realestate.usnews.com/places/methodology.
KILLEEN RANKED #1 – In a recent study by the Urban Institute, an independent research group, Killeen ranked #1 in the United States with the smallest gap between black and white homeowners. The study looked at 100 cities in the nation with the largest number of black households. The black homeownership rate in Killeen is 48.5%. Information on the study can be found at https://www.urban.org/urban-wire/mapping-black-homeownership-gap.