“The price of greatness is responsibility.”-Sir Winston Churchill
OWNERS NEWSLETTER – DECEMBER 2018
NEW NAME – For over thirty-two years, we have been known as Hunter Rentals & Property Management. Beginning this month, we are proud to announce our new name (and logo), Hunter Rentals & Sales. Although property management has been and continues to be the staple of our organization, real estate sales and listings are services we have always provided as a brokerage. Since real estate sales and property management are nearly inextricably linked, Hunter Rentals and Sales seemed the perfect fit for our rebranding while maintaining our very recognizable namesake. Other than the name change and new logo, our staff, professionalism, and dedication to providing the best possible property management and real estate services remain the same.
VA STATISTICS – The Veterans Administration (VA) loan benefit turns seventy-five years old next year. This valuable benefit allows military veterans to obtain home financing with a zero-down payment, no private mortgage insurance, and somewhat less stringent qualifying requirements than other loan programs. According to the software firm Ellie Mae, the VA loan has had the lowest interest rate on the market for the past 58 months. Amazingly, the VA loan has had the lowest foreclosure rate of any loan product on the market for forty-eight consecutive quarters in spite of the zero down payment perk. In a recent Veterans United press release, it was noted that VA loans now make up 10% of the loan market. In 2018, the VA backed a record 610,000 loans worth $161 billion. In 2018, the Fort Hood area saw 3,400 homes purchased with VA loans.
INTEREST RATES – The VA fixed interest rate on a thirty-year mortgage is presently 4.5%. The thirty-year rate on an FHA loan is 4.625%. The interest rate for thirty-year conventional loans is presently 5% (4.5% on a fifteen-year loan).
RENTAL ACTIVITY – Demand for rental housing continues to remain strong as we near the year’s end. We ended the month of November with 99% of our single-family homes occupied, and nearly 100% of our multi-family units occupied. The market typically slows down to a crawl around mid-month December, but is expected to pick up steam again during the last week of the year and into the New Year.
HAPPY HOLIDAYS – From the entire staff here at Hunter Rentals, we wish you a safe and blessed holiday season. We sincerely appreciate your faith, support, and patronage. Best wishes for a happy and successful New Year!