REUP 73 | Home Affordability IMPROVES for First Time in 5 Years + Compass Loses to Zillow скачать в хорошем качестве

REUP 73 | Home Affordability IMPROVES for First Time in 5 Years + Compass Loses to Zillow

Episode 73 - Home affordability improves for first time in 5 years as income needed drops 4%. Judge denies Compass injunction against Zillow's listing policy. Credit report costs explode to $300+. National Flood Insurance Program set to expire. Home Affordability IMPROVES - First Time in 5 Years The Numbers: Median home price: $426,747 nationally Income needed: $111,252/year (DOWN from $115,870 last year) 4% DROP - first decline in 5 years Mortgage rates: ~6.1% (down from 7% last year) Median monthly payment: $2,675 (down from $2,800) 37 of 50 Biggest Metros See Improved Affordability: Dallas: Income needed dropped 7.4% to $112,175 Sacramento: Fell 6.8% to $148,102 Jacksonville: Dropped 5.9% to $97,898 Sellers outnumber buyers = best discounts in 13 years The Gap Still Exists: Typical American household earns $86,185 $25,000 SHORT of what's needed for median home Good news: Household income rose 4% (2024-2025), expected to keep climbing Midwest Markets Got LESS Affordable: Detroit: $74,912 (up 3.6%) Chicago: $105,440 (up 3.5%) St. Louis: $73,984 (up 3%) Buffalo: $79,919 (up 2.7%) Cincinnati: $81,487 (up 1.7%) Coastal Markets Still Brutal: San Jose: $374,241 needed San Francisco: $291,256 Los Angeles: $248,307 San Diego: $231,151 New York City: $196,544 Typical households earn about HALF what's needed Legislative Action: Housing for 21st Century Act passed House (zoning, financing, regulatory reform). Needs Senate approval. Senate has own bill: ROAD to Housing Act. Credit Report Costs EXPLODE to $300+ The Crisis: Tri-merge credit report fees exceeding $300 per pull in 2026 Up from just $30-$40 five years ago 10X INCREASE hitting breaking point These reports evaluate borrower credit from all 3 bureaus (Equifax, Experian, TransUnion) Who Pays: Costs passed to borrowers OR absorbed by small brokerages Squeezing profitability, adding friction to loan process Credit bureaus and FICO trading blame Industry argues cost doesn't reflect any real increase in data delivery MBA Pushes for Single Credit Report System - The Proposal: Cut tri-merge requirement Move to single credit report for certain loans (borrowers with 700+ scores) MBA calls tri-merge "outdated, flawed, anticompetitive" GSEs (Fannie/Freddie) don't even use all 3 scores for underwriting PROS: Lower costs for borrowers, more competition and transparency among bureaus, faster simpler process, modernizes old system. CONS: Less complete credit visibility, potential access issues for borrowers with uneven histories, one report might miss negative data another would catch. National Flood Insurance Program Set to EXPIRE The Program: NFIP = primary flood insurance source for US residential properties 4.6 MILLION policies $1.3 TRILLION in coverage 22,700+ communities in 56 states/jurisdictions participating The Crisis: NFIP authority set to EXPIRE Has been extended numerous times before Congress has until September deadline to fund federal govt for 2027 fiscal year NAR pushing for longest extension possible while Congress finds long-term solution What Happens if It Expires: NFIP CANNOT issue new or renewal policies until reauthorized Existing policies remain in effect until expiration (including 30-day grace period) Claims continue to be paid as long as FEMA has funds Private flood insurance NOT affected Impact: Properties in flood zones can't close without flood insurance. Expiration would freeze real estate transactions in affected areas. Judge Denies Compass Injunction - Zillow WINS (For Now) The Ruling: Judge Jeannette Vargas DENIED Compass request for preliminary injunction NOT final judgment - lawsuit continues Compass wanted to stop Zillow's listing policy Zillow's Policy: Bans listings from platform if marketed publicly 1+ days without being on MLS Ban lasts ENTIRE duration of listing (not temporary) Compass's 3-Phased Marketing (3PM): Starts listings as private exclusives through Compass agents Eventually hits MLS Conflicts with Zillow's policy Judge's Reasoning: Compass has NOT shown likelihood of success on merits. Rejected claim Zillow colluded with Redfin. Rejected argument Zillow is monopoly. Noted sellers CAN still use 3PM - just lose Zillow exposure. Winter Pet Safety - Homeowner & Buyer Guide Bill Jones and the Jones Home Team (Kelli Jones, Bryan Schube, Kari Steele, Sierra Steinmetz) are top producing real estate agents in Northwest Ohio with 40+ years of combined experience. The Jones Home Team at RE/MAX Unlimited Results Realty serves Seneca County and all of Northwest and Mid Ohio. YouTube →    / @realestateunlimitedpodcast   Facebook →   / realestateunlimitedpodcast   Instagram →   / realestateunlimitedpodcast   LinkedIn →   / real-estate-unlimited-podcast   #HomeAffordability #ZillowVsCompass #CreditReportCosts #FloodInsurance #MortgageRates #PetSafety #BuyersMarket #RealEstateNews #REUP