OWNERS NEWSLETTER - AUGUST 2020

                                   

HOMEOWNERSHIP RECORD – According to a recent report from the Real Estate Center at Texas A & M University, more Texan households own a home than ever before. The state’s homeownership rate hit a record of 67.5 % in June. The Center’s chief economist, Dr. James Gaines, stated, “Despite falling sales in April and May, Texas’ second quarter homeownership rate was the highest since record-keeping began in 1996.” “The Center’s single-family housing sales projection suggests July numbers may show a complete recovery in single-family home sales,” said Dr. Gaines.   

DEPLOYMENTS – According to the Fort Hood Population Card and Fact Sheet, the base has approximately 1,600 soldiers deployed currently. Many of the base’s 6,000-plus soldiers have returned home in recent weeks. It is not uncommon for Fort Hood to have several thousand soldiers deployed at any given time.

EVICTIONS – In a recent executive order, President Trump extended the eviction moratorium under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Property owners that do not have a federally backed mortgage (or no mortgage) may evict their renters for non-payment of rent. However, owners with government backed mortgages such as FHA, VA, Fannie Mae, Freddie Mac, etc., are prohibited from evicting their renters for non-payment of rent.  

JULY RENTAL TRAFFIC – Another awesome month for our property owners! We leased thirty properties last month consisting of twenty single-family homes and ten apartments. The overwhelming majority of these properties rented within a day or two of becoming available for move-in. We ended the month of July with an occupancy rate of 100%. Demand for rental housing remains strong. It is quite common to have multiple prospective renters vying for the same property as it hits the market.  

David Gerke

Broker