Sep. 02, 2024
Zillow is bringing an integrated home-buying experience to life in select areas we call enhanced markets. In these markets, we are laying the foundation for customers who come to Zillow to be able to easily move through a traditionally complicated process in a more intuitive and seamless way with the expert guidance of Premier Agent partners and Zillow Home Loans loan officers.
Financing: A critical first step for buyers
We are starting with tackling the biggest hurdle for home buyers: financing. Understanding financing options is a critical first step for home buyers. Nearly 80% of homes purchased are financed with a mortgage¹, and shopping for a mortgage is the starting point for about 40% of all home buyers².
Empowering buyers with integrated financing
With integrated financing, we are weaving together all the crucial components buyers need to successfully finance their next home.Buyers can easily request financing information online and use resources, such as an affordability calculator, to learn more about what their potential monthly mortgage payment may be as they begin to set a budget. They can also seek pre-approval for financing and receive consistent, timely updates on where they are in the process.
Simplifying touring
We are also simplifying other parts of the process, including touring in enhanced markets and beyond with Real-Time Touring. In more than 120 markets nationwide, buyers have access to Real-Time Touring, which makes booking a home tour for a day and time convenient to the buyer, agent and homeowner almost as easy as making an online restaurant reservation.
A seamless experience for more buyers and partners
This experience is available in 36 enhanced markets and will expand to 7 additional markets at the end of October. At that time, we will have 43 active enhanced markets, which will allow us to achieve our goal of launching 40 markets by the end of . These 7 new markets include:
This experience is currently available in the following markets:
¹ Profile of Homebuyers and Sellers, per the National Association of REALTORS®
²Zillow internal estimates
*This blog post contains forward-looking statements within the meaning of Section 27A of the Securities Act of and Section 21E of the Securities Exchange Act of that involve risks and uncertainties, including, without limitation, statements regarding our roll-out of enhanced markets. Statements containing words such as &#;may,&#; &#;believe,&#; &#;anticipate,&#; &#;expect,&#; &#;intend,&#; &#;plan,&#; &#;project,&#; &#;predict,&#; &#;will,&#; &#;projections,&#; &#;continue,&#; &#;work toward,&#; &#;opportunity,&#; &#;would,&#; &#;could,&#; &#;strive,&#; &#;target,&#; &#;commit,&#; or similar expressions constitute forward-looking statements. Forward-looking statements are made based on information currently available to management, and although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee these results. Differences in Zillow Group&#;s actual results from those described in these forward-looking statements may result from actions taken by us as well as from risks and uncertainties beyond our control. For more information about potential factors that could affect our business and financial results, please review the &#;Risk Factors&#; described in our Annual Report on Form 10-K for the year ended December 31, filed with the Securities and Exchange Commission (&#;SEC&#;) and in Zillow Group&#;s other filings with the SEC. Except as may be required by law, we do not intend, and undertake no duty, to update this information to reflect future events or circumstances.
The RHNA process refers to the first two steps (Determination and Allocation) of a multi-step process that California governments utilize to plan for housing needs in each region of the state.
Since , California has required that all local governments (cities and counties) adequately plan to meet the housing needs of everyone in the community. This process starts with HCD determining how much housing at a variety of affordability levels is needed for each region in the state. Then the regional governments develop a methodology to allocate that housing need to local governments. California&#;s local governments then adopt housing plans (called housing elements) as part of their &#;general plan&#; (also required by the state) to show how the jurisdiction will meet local housing needs.
DOF
Related links:Link to Yunsheng
HCD Determines housing need after consulting with DOF & COG
COG
COG develops RHNA Plan;
HCD Reviews
HCD acts as COG (Predominantly Rural Counties)
~ 1&#;2 Years
Local Governments Update Housing Elements and Report on Implementation on their APRs (539 jurisdictions)
HCD Reviews
~ 1&#;2 Years
HCD is responsible for determining the regional housing need for each region&#;s planning body known as a &#;council of governments&#; (COG), with input from the Department of Finance (DOF). HCD and the COG consult and compare data related to demographic trends and housing conditions in the region. After this consultation, HCD issues the final regional housing need number for the region, which is broken out by income categories. The final housing need determination must be issued at least two years before the next housing element due date.
The determination is required to account for both the existing and projected housing need in each region. Accordingly, in addition to considering DOF data on future population and household growth, HCD also assesses whether additional housing is needed to serve the existing population. For instance, HCD considers data on overcrowding, cost burden, vacancy rates, and jobs-housing imbalances to account for pent-up demand when determining the regional housing need. HCD is also required to consider whether units have recently been lost due to a state of emergency declared by the Governor.
Once HCD has issued the region&#;s housing need determination figure (the amount of housing that must be planned for), the COG is responsible for allocating the housing need amongst all of the jurisdictions (cities/counties) within that region. The COG must develop a methodology for allocating the regional housing need and submit the methodology to HCD for review. Starting in the 6th cycle, HCD was given the authority to review the draft allocation methodology developed by each COG to determine whether it furthers the five statutory objectives of RHNA. After the methodology is adopted by the COG, they must develop a Regional Housing Need Allocation Plan (RHNA Plan). The RHNA Plan must be adopted by the COG at least one year before the next housing element due date. Learn more: Building Blocks: A Comprehensive Housing-Element Guide.
Statute requires that the COG develop a RHNA allocation methodology that furthers five statutory objectives (Gov. Code Section (d)). Overall, the statutory objectives encourage the development of an allocation plan that promotes more economically and racially integrated communities by allocating housing to high-resource, job-rich areas, while also meeting the state&#;s greenhouse gas reduction goals by encouraging infill development and the protection of environmental resources. Statute also lays out 13 factors that COGs are allowed to consider when creating the allocation methodology, as well as three criteria that cannot be considered. HCD is charged with developing the RHNA Plan for 20 predominantly rural counties across the state that do not have a COG.
Health and Safety Code Section .05 directed HCD, in collaboration with the Governor&#;s Office of Planning and Research, and after engaging in stakeholder participation, to develop recommendations to improve the RHNA process and methodology that promotes and streamlines housing development and substantially addresses California&#;s housing shortage. The California&#;s Housing Future : The Next RHNA Report (PDF) fulfills HCD&#;s obligation to submit a report to the Legislature with HCD&#;s findings and recommendations and outlines the changes HCD believes are necessary to ensure that the RHNA process appropriately plans for the homes that will be needed across the state by the year .
From March to July , HCD solicited ideas and feedback from stakeholders for ways to improve the RHNA methodology and process. To ensure HCD received feedback from a wide range of stakeholders, the California&#;s Housing Future stakeholder engagement initiative employed a variety of engagement strategies. These engagement strategies included a webinar, a public survey, a Sounding Board of 30 technical experts, one-on-one listening sessions with key partner organizations and subject matter experts, and a public inbox. The feedback received from stakeholders directly informed the recommendations and administrative changes found within the California&#;s Housing Future report. For more information on the California&#;s Housing Future stakeholder engagement initiative and the feedback that was shared with HCD, please see the Stakeholder Engagement Summary in the Appendix of the California&#;s Housing Future Report (PDF).
The California&#;s Housing Future report identifies a mix of recommendations that would require statutory changes, as well as planned adjustments to HCD&#;s processes under existing administrative authority, to lay the groundwork for creating future homes. Collectively, these RHNA modifications will more accurately account for the housing needs of existing and future residents, promote and streamline housing development, affirmatively further fair housing, advance the state&#;s climate goals, and substantially address California&#;s housing shortage. The California&#;s Housing Future report offers a pathway for the state to improve addressing our housing need&#;for current and future generations of Californians.
Contact us to discuss your requirements of Integrated Housing. Our experienced sales team can help you identify the options that best suit your needs.
Previous: Z Type Steel Construction House 20FT Foldable Container ...
Next: Z vs C Sections (and Why You Need Both in Your Steel Building)
If you are interested in sending in a Guest Blogger Submission,welcome to write for us!
All Comments ( 0 )