Exciting times at Chandler Crouch Realtors! We've been featured in a number of recent stories via local news outlets. We're happy to be in a position to help so many people.   Lauren Zakalik with WFAA Channel 8 interviewed Chandler on May 17th about the tax increases in Tarrant County, and what Chandler Crouch Realtors is doing to help the local community. You can read that story in its entirety and watch Chandler's interview with Lauren by clicking here.   When some folks found out that their homestead exemptions dropped from their TAD appraisal without warning, CBS's Jason Allen stepped in to help get the story out. Click here to read more and watch Chandler's interview.   In a follow up to WFAA's story on what Chandler Crouch Realtors is doing to help out local homeowners, Jason Wheeler invited Chandler to do a live interview on WFAA Channel 8 to discuss what homeowners should do to get their taxes lowered. To view that video, click here and scroll to the bottom of the page, and play the last video on the page titled "Is it worth it: How to fight your property taxes assessment."   We're thrilled to be able to provide a service like this to our local community!

One branch of Chandler Crouch Realtors (REOmaven.com) works exclusively with HUD homes. REOmaven.com has been listing HUD homes since 2010 and is one of HUD’s most prominent HUD listing brokers in the DFW area. Many times, when a buyer will call the number on our For Sale sign, they don’t even realize that the home listed is a HUD home.    So, what is a HUD Home?   A HUD home is a home that went through foreclosure and is now government owned. The previous owner had an FHA Mortgage, which is insured by the government. That buyer quit making payments on their home. When the home failed to sell at the foreclosure auction, the bank filed a claim on the insurance for that mortgage and transferred ownership over to HUD – the government.   What kinds of homes can be HUD homes?   Currently, almost 1/3 of home mortgages come from FHA.  FHA loans can be used for single-family, two-family, three-family, and four family homes. The limits on the loan amount for each type of home varies depending on where you live – in Tarrant County, the limit for the loan amount on Single-Family homes is $287,500. This amount will include many homes in Tarrant County – HUD homes can be anywhere!   Who is eligible to buy a HUD home?   There are no income restrictions or requirements to be able to purchase a HUD home. The buyer just needs to be able to qualify for whatever funding they are going to use to buy the home. HUD homes can be purchased using Cash or FHA, Conventional, USDA, or VA financing – just make sure to check with your lender about the repairs needed on the home and if your preferred financing will work with the HUD home of your choice.   Are HUD homes the same thing as Section 8?   No. All HUD homes are listed For Sale only – not to rent or rent to own. Section 8 is a program that provides housing vouchers to low-income families so they can rent suitable housing. Section 8 vouchers cannot be used to purchase a HUD home. However, both programs do operate out of the same government department which may be the cause of some confusion.   HUD Homes are sold AS-IS   This means that HUD is not going to make any repairs to the home before selling it. Most HUD homes need some sort of repair – whether it be cosmetic (carpeting, painting walls, etc.) or more substantial repairs (foundation, roof, plumbing, etc.) – you can find HUD homes in all sorts of conditions. No one is also not allowed to make any changes or repairs to the home before closing. Make sure your lender is aware of this before you start to acquire financing.   What are some differences between HUD Home sales and conventional home sales?   There are a few differences between how HUD sells homes and how traditional sales occur. First, HUD homes are sold AS-IS – no repairs can be made before closing. Second, HUD has specific deadlines for accepting offers on their available homes. Finally, HUD uses their own contracts – not the traditional TREC contracts. Otherwise, HUD acts much like a regular seller. Feel free to contact our office or ask your real estate agent for more details about these differences.   Where do I go to find HUD homes available in my area?   All of the HUD homes that are active and available on the market are listed at www.HUDhomestore.com. You can search for specific properties by the street name or you can search in whatever zip code or county you are looking for. For each property, you can find helpful information like the deadline to get a bid in on the property, the list price, what financing it is eligible for, and what repairs are needed to be eligible for FHA financing.  From this website, you can also get information about HUD brokers in the area and your real estate agent can place a bid on a property for you.   What does it mean to “place a bid” on a property?   Placing a bid on a HUD home is very similar to making an offer on a conventional home. Placing a bid requires only some of your basic information and the amount you would like to place. You are not contractually obligated to buy the home if your bid is accepted. HUD’s bidding process is a sealed bid process, which means no one else can see your bid – not even the listing broker. HUD looks at all of the bids placed on a property at the end of the bidding period – this is determined by the bidding deadline.   What happens if your bid is accepted?   If HUD accepts your bid, your real estate agent will be notified the day after the bidding period ends. If your agent does not receive notification, they can log in at HUDhomestore.com to check on the status of the bid. If you do win the bid, you have 48 business hours to turn in your contract package, earnest money and proof of funds/prequalification letter. Then, the contract process proceeds from there to closing.   HUD homes can be a great way to find a really good deal on a home. HUD homes are all around you and can be found in almost every neighborhood. Check with your agent to find about HUD homes in the area you are looking to buy!