OWNERS NEWSLETTER - JANUARY 2020

                                                                

OWNERS NEWSLETTER – JANUARY 2020

DROUGHT – Bell County has been experiencing drought conditions for the past five months or so. Texas Governor Greg Abbott stated that current conditions pose an imminent disaster threat from wildfires. He has declared a state of disaster in Bell County and sixteen other counties. We did see some much needed rainfall on the evening of January 10th when a powerful line of storms swept through the area. Killeen received about 0.69 inches of rain from that event. Average January rainfall for Killeen is 2.13 inches, so more rain is needed.

R-22 PHASE-OUT – As of this month, R-22 refrigerant, AKA Freon, is no longer legal to import or manufacture in the United States. Air conditioning systems that were installed prior to October, 2015, operate with R-22 refrigerant. The cost of R-22 refrigerant has steadily been on the rise and will likely increase sharply moving forward. For many property owners, replacing an old central air system will now be more cost effective than repairing it. An increasing number of companies will no longer service systems that run on Freon. The cost of a new central air system will vary, but the average costs we’ve seen recently have been between $4,500 to $4,800. Older systems tend to break down during the hottest months of the year, which is not a pleasant experience for the renters. If your property has an older system with a history of recurring repairs, I highly recommend that you consider changing it out this spring or sometime before July. To inquire about replacement, please e-mail our maintenance department at repairs@HunterRentals.com

SAVE MONEY – January is the perfect time to review your existing homeowners insurance policy. If it’s been a few years since you’ve even thought about it, there’s a good chance you lack adequate coverage and are paying too much. Your property may not be located in a flood plain, but does your present policy protect you against flash flooding or run-off resulting from new construction? What about sudden and accidental water discharge, foundation, or back-up of sewer drain lines and seepage? Does your current policy protect you against dog bite claims? More than one-third of all homeowner’s insurance liability claims are the result of dog bites and canine related injuries. Toby Brooks (toby.brooks@goosehead.com) is an agency owner with Goosehead Insurance and an expert on all matters related to property insurance. Give Toby a call at 254-721-8104 or e-mail him if you have insurance questions. Toby will work hard to find you the best policy and can save you money in most cases. 

INTEREST RATES – Rates are once again near historic lows, making now a good time to consider refinancing an existing mortgage. Refinancing is a great way to reduce your monthly mortgage payment with the option of cashing out some of your property’s equity to pay off other debts, cover the cost of home improvements or repairs, or purchase another property. 

David Gerke

Broker