“Whoever gossips to you will gossip about you.”  -Spanish Proverb

OWNERS NEWSLETTER – APRIL 2019

FLOOD INSURANCE FACTS – The following are some important facts about flood insurance.
#1 – Flood is not covered under standard homeowners insurance policies
#2 – Flood insurance costs less than 35 cents per day. The average flood costs a consumer $55,000
#3 – 20% of all floods occur in low-to-moderate risk neighborhoods (neighborhoods that probably
never flooded before). Just an inch of water that enters your home can cost you thousands
in damage
#4 – It takes 30 days for a flood insurance policy to take effect. Thinking you can buy flood
insurance when you need it is not a wise decision. It’s important to carry flood insurance
year round
#5 – The government will not pay for losses not covered by a flood policy.
For more information about flood insurance or a free evaluation of your present coverage, contact Toby Brooks (toby.brooks@goosehead.com) at Goosehead Insurance Agency, LLC.

PROJECTED LOSSES – According to the State Flood Assessment Report to the 86th Texas Legislature, the Texas Water Development Board estimates that coastal and riverine flooding combined will cause more than $6 billion in property losses over the next five years.

TAX APPRAISALS – Many property owners in our area are seeing a sharp increase in the tax valuation of their properties for 2019 (especially owners of multi-family properties). Yes, property values are on the rise, which means most of us will be paying more when property taxes become due. The good news for most rental property owners is that rents are also on the rise, which will help offset the higher tax bills. To view your property’s current and past tax valuations, tax rate, and to verify that the county’s information is accurate, go to www.bellcad.org for properties located in Bell County or www.coryellcad.org for properties located in Coryell County.

RENTAL TRAFFIC – Demand for rental housing continues to be strong in all categories. Our occupancy rate has been close to 100% for many weeks. Many non-military families cannot afford the expensive rents in the Austin area and are moving to the Killeen, Belton, Temple, and surrounding areas to live. The 45-60-minute commute to work in Austin is not an impediment for most folks. Fort Hood currently has 36,000 soldiers assigned and relatively few (about 2,000) soldiers deployed at the moment. The base will be deploying roughly 4,000 soldiers to South Korea this summer, but this will likely have little impact on the local housing market.

David Gerke
Broker

Posted by: juliem on April 18, 2019
Posted in: Uncategorized