Killeen Real Estate Deal of the Week

Killeen Realtor, Dan Villarreal of Premier Properties, shares another Killeen real estate deal of the week...

This 4 bedroom, 2 bath home at 3604 Selena in southwest Killeen is an awesome deal at only $89,900.  The VA foreclosed home offers four spacious bedrooms, two full bathrooms and a large living room that's open to the kitchen and formal dining room.  In the living room is a beautiful fireplace and close by the kitchen is a computer nook. 

For more information on this and other Deal of the Week, visit Dan at www.FtHoodTexasHomes.com

Killeen-Ft Hood Area Home Prices Down Slightly

The Texas Association of REALTORS® has just released the Texas Quarterly Housing Report for the second quarter of 2011 which reflects what's going on in 47 of the state's markets. This latest report shows that while recent real estate prices indicate strength in the Texas market as a whole, the Killeen-Ft Hood market has not fared as well.

The median price of homes in the Killeen-Ft Hood market was $121,800, 2.71% lower than the same quarter of 2010. Statewide the median price was $150,400, 1% higher than the same quarter on 2010.  The average price of homes in the Killeen-Ft Hood area in 2011-Q2 was $126,780, 5.36% lower than 2010-Q2 versus Texas as a whole which had an average price of $201,288, or 4.6% higher than the second quarter of 2010.

The decrease in the average price of Killeen-Ft Hood, Texas homes seems to indicates more activity among lower priced homes. This interest in lower priced homes includes many investors buying foreclosed and distressed properties at below market value. Investors are returning to real estate as a preferred investment vehicle due to instability in other investments, such as stocks and bonds. 

Another important market indicator is the inventory of homes available for sale compared with the demand to

buy homes. The Killeen-Ft Hood area had 7.1 months of inventory in the second quarter of 2011 compared to 6.9 months in Q2-2010. Statewide, Texas had 8.1 month of inventory in the second quarter of 2011 versus 7.2 months of inventory in the second quarter of 2010.  A market with 6 to 9 months of inventory is considered to be in balance.

To find out more about the Killeen-Ft Hood real estate market or for information on how you can take advantage of these great home prices, please visit http://www.overallrealtor.com/ or call me today at 254-394-6637.

Property Tax Exemptions for Disabled Vets

Here in Killeen (and the surrounding Ft Hood area) we are very accustomed to seeing men and women who serve their country every day. Before I go any further, let me ask you to take a minute this week and just say thank you to one of these brave individuals.

Did you know that the state of Texas says thank you to those veterans with service-connected disabilities who own property in Texas by offering a property tax exemption up to 100%.  Following is information from the Texas Veterans Commission website:

Who qualifies?
Veterans with the following service-connected disability rating:

• 10%-30% First $ 5,000 of appraised value
• 30%-50% First $ 7,500 of appraised value
• 50%-70% First $ 10,000 of appraised value
• 70% & over First $ 12,000 of appraised value          
• 100% Rating or Individual Unemployability = 100% of appraised value     

Additional eligibility:

• Surviving spouses and minor children who are unmarried and under 21 years of age of a person who dies on active duty in the U.S. Armed Forces are eligible for an exemption of the first $5000 on the appraised value of their property.
• A veteran who has a disabilityrating of 10% or higher and who is 65 years or older is entitled to the maximum property tax exemption.
• A veteran whose disability consists of the loss of use of one or more limbs or total blindness in one or both eyes is entitled to the maximum exemption of $12,000.
• The surviving spouse of a deceased veteran, who at the time of death had a compensable disability and was entitled to an exemption, is also entitled to that exemption if the surviving spouse is unmarried but cannot receive 100% exemption.
• The exemption applies to the property until it changes ownership or the person’s qualification for the exemption changes. 

How to get it?

Fill out Form 50-135 and send to County Appraisal District. Proof of eligibility must accompany application. Applications for the exemption must be completed between January 1 and April 30. 

If you would like more information about what the Texas Veterans Commission does, just click the link http://texas-veterans.com/