On A Positive Note - 01/10/2022

January 10, 2022

While there is much to worry about these days such as the economy and inflation, homeownership in the state of Texas is a definite bright spot for many.

 

Property owners in Killeen have seen an average rent increase of 29.5% since March 2020 whereas most major cities in the nation averaged 20% according to a study by Apartmentlist.com.

 

Up to November this year, our property owners were enjoying near 100% occupancy levels. The holidays have brought about a slight seasonal slowing of the rental market, but demand continues to outpace supply and we anticipate continued high occupancy rates into the new year with some cooling of rental rate increases.

 

Investing in real estate continues to be an excellent hedge against inflation. People always need a place to live, which makes owning real estate a great commodity in which to invest. Although real estate values have been on the rise, mortgage interest rates continue to remain near historic lows, so purchasing now while financing is still cheap is a smart move. The cost of gas, groceries, lumber, and many other consumer goods are on the rise and are beyond our control as the dollar continues to lose value. The 29.5% increase in rental rates we’ve seen since March 2020 have blessed investors with excellent rates of return on their investment properties while their properties have been appreciating dramatically in value. According to a recent study by Black Night, homeowners in the U.S. have seen their home equity rise an average of 32% since the third quarter of 2020. In addition to increased rental income and growing equity, rental properties provide valuable tax deductions. 

 

On the economic front, the Texas Workforce Commission recently reported that Texas has recovered all jobs lost due to the pandemic after adding 75,100 nonfarm jobs in November, reaching nearly 13 million jobs.

 

Texas currently has the cheapest average gas prices in the nation according to AAA. The average price per gallon in Killeen is $2.88.

 

A recent study by WalletHub lists Texas as the best state to start a business.

 

Fun fact – While Texas is among only seven states with no state income tax, did you know that the Texas Constitution was amended in 2019 to forbid personal income tax? 

 

“Happiness depends upon ourselves.”  --Aristotle


David Gerke,
Broker / REALTOR®

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Mold and mildew are persistent issues in environments with high humidity, especially during warm or rainy seasons. These fungal organisms flourish in damp, poorly ventilated spaces and can appear on a variety of surfaces, including walls, ceilings, fabrics, and furniture. Besides their unpleasant appearance and smell, mold and mildew can also cause health problems, especially for people with allergies or respiratory issues. Fortunately, with consistent maintenance and environmental control, the risks associated with mold growth can be significantly reduced. Ensure Adequate Ventilation Proper air circulation is one of the most effective ways to reduce moisture buildup indoors. Spaces such as bathrooms, kitchens, laundry rooms, and basements are particularly susceptible due to frequent water use and steam accumulation. To address this, ensure exhaust fans are properly installed and working. You can also open windows when weather conditions permit. Using ceiling fans or portable air circulators can further enhance ventilation and minimize moisture buildup. Use Dehumidifiers Strategically Dehumidifiers play a vital role in regulating indoor humidity. By drawing moisture out of the air, they create a less hospitable environment for mold and mildew. These devices are especially helpful in enclosed or poorly ventilated areas like storage rooms, attics, and lower-level spaces. Running a dehumidifier consistently can help maintain an optimal indoor humidity level, ideally between 30% and 50%. Address Leaks and Water Intrusion Quickly Unresolved water leaks—whether from pipes, roofs, or windows—can create hidden moisture pockets that lead to mold development. Regularly inspect plumbing fixtures, roofing systems, and window seals for signs of leaks or condensation. Prompt repairs are essential to prevent long-term damage and microbial growth in hidden or hard-to-reach areas. Clean and Dry Surfaces Frequently Surfaces that remain damp for extended periods are prime targets for mold colonization. Regularly wiping down wet surfaces, such as shower walls, countertops, and window ledges, helps eliminate excess moisture. Incorporating non-toxic mold-resistant cleaners into your routine can further discourage growth. In addition, drying wet fabrics or upholstery promptly and thoroughly is essential. Monitor Humidity with Hygrometers A hygrometer is a simple, affordable tool that measures indoor humidity. By placing one in each major living area, you can keep track of moisture levels and take timely action if they rise above safe thresholds. Maintaining indoor humidity below 60% significantly lowers the risk of mold and mildew formation. Maintain HVAC Systems Heating, ventilation, and air conditioning systems influence indoor air quality and moisture control. When neglected, they can circulate humid air or even harbor mold in ducts and filters. Routine maintenance—including regular filter replacements and periodic professional inspections—ensures efficient operation and reduces the likelihood of hidden mold development. Store Materials with Care Materials such as books, clothing, cardboard boxes, and textiles are especially vulnerable to mold if stored in damp conditions. Keep such items off the floor, away from walls, and in well-ventilated, dry areas. Use moisture-absorbing products like silica gel packs or desiccant containers in storage spaces to provide added protection. By implementing these preventive strategies, property owners and occupants can create a healthier, drier indoor environment that is resistant to mold and mildew, even during prolonged periods of high humidity. For more information on property management and maintenance tips, visit Hunter Rentals & Sales at www.hunterrentals.com and connect on Facebook and Instagram for the latest updates. Hunter Rentals and Sales is located at 3207 East Stan Schlueter Loop, Killeen, Texas 76542, United States. Phone: (254) 634-3311 
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