“He has not learned the lesson of life who does not every day surmount a fear.” -Ralph Waldo Emerson
OWNERS NEWSLETTER – OCTOBER 2018
INTEREST RATES – Interest rates continue to inch upwards. The fixed rate for a conventional thirty-year loan is currently 4.875%. The current VA fixed rate on a thirty-year loan is 4.375% and for FHA loans, the rate is now 4.625%. These rates are still relatively attractive, so now is still a good time to buy or refinance an existing loan.
BRIGADE REACTIVATED – After being inactivated in 2015 during the Army’s drawdown, the 166th Aviation Training Brigade was officially reactivated at Fort Hood this past June 1st as a result of congressional approved funding in the National Defense Authorization Act. The 166th “Archangels” Aviation Training Brigade is comprised of approximately 175 soldiers.
KILLEEN RANKED 21st – Out of 234 medium sized cities evaluated by Military Times, Killeen was ranked 21st in Best for Vets: Places to Live 2019. Veteran and military culture, services, and livability factors were among several categories considered in the ranking. Education also factored in the placement, with Central Texas College ranking 3rd in the Best for Vets: Online and Non-traditional Schools category in 2018.
I-14 – Last year, twenty-five miles of Highway US 190 from Copperas Cove to Belton was added to the Interstate Highway System and became I-14, (AKA the “Forts to Ports” highway). Earlier this year, members of Congress from Texas, Louisiana, and Mississippi introduced legislation to expand I-14 across their three states, which would link six military installations, include spur routes to strategic military seaports at Beaumont and Corpus Christi, and extend into Mississippi, where it would tie into I-59. From El Paso to the Gulf of Mexico, I-14 will be of great importance to the military, the West Texas energy industry, create additional hurricane evacuation routes for the three gulf states, and generate an economic boon in its path.
RENTAL TRAFFIC – Demand for rental housing was solid last month. We leased twenty-four single family homes and twelve apartments in September and ended the month with 99% occupancy in all categories (houses & multi-family). We also renewed the one-year leases of twenty-four of our existing renters. Our on-line marketing continues to attract much attention on the more than one-hundred web sites where our properties can be viewed. Close to 1,000 prospective renters (990) registered on our web site in September.