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69 October 2025 J O U R N A L themortgagepoint.com October 2025 » as of Fifth Third's closing stock price on October 3, 2025, and a 20% premium to Comerica's 10-day volume-weighted average stock price. At close, Fifth Third shareholders will own approximately 73% and Comerica shareholders will own the remaining 27% of the combined company. "The combination is expected to be immediately accretive to shareholders; deliver peer-leading efficiency, return on assets, and return on tangible common equity ratios; and create a compelling platform to generate sustainable long- term growth," a joint press release said. The release added that the acquisition is a strategic acceleration of Fifth Third's long-term growth plan, enhancing scale, profitability, and geographic reach. The combination of Fifth Third's retail banking and digital capabilities with Comerica's middle-market banking franchise and foot- print is expected to further strengthen Fifth Third's position in high-growth markets. The combined entity will operate in 17 of the 20 fastest-growing markets in the country, including key regions in the Southeast, Texas, and California. By 2030, over half of Fifth Third's branches are expected to be located in the Southeast, Texas, Arizona, and California. "This combination marks a pivotal moment for Fifth Third as we accelerate our strategy to build density in high- growth markets and deepen our commer- cial capabilities," Tim Spence, Fifth Third Chairman, CEO, and President, said in a prepared statement. "Our unique approach to relation- ship banking has served our customers for nearly two centuries," said Curt Farmer, Comerica Chairman, CEO, and President. "Joining with Fifth Third— with its strengths in retail, payments, and digital—allows us to build on our leading commercial franchise and further serve our customers with enhanced capabili- ties across more markets, while staying true to our core values." In an interview with Reuters, Farmer added: "The shifting regulatory envi- ronment has gotten more conducive to M&A, and we saw windows starting to open where there might be a chance for us to consider partnering with another institution." CFRA Research analyst Alexander Yokum downgraded Fifth Third to hold from buy and cut the price target to 47 from 56, according to an Investor's Business Daily article. The 20% premium Fifth Third is paying is misleading because Comerica shares were already inflated by acquisition speculation, the analyst said in a note to clients. A Bloomberg article speculated that the deal could be an indicator of more finan- cial institution mergers on the horizon. FIXER-UPPERS SURGE IN POPULARITY, GIVING U.S. BUYERS MORE OPPORTUNITY F ixer-uppers are becoming a unique chance to enter the mar- ket at a cheaper cost, and the data indicates that demand is rapidly increas- ing, as rising home prices and mortgage rates continue to pose a problem to purchasers around the country. By definition, fixer-uppers are cheap. As of July 2025, the typical listing price of all single-family homes countrywide is $436,250; however, if the median listing price of homes classified as fixer-uppers is $200,000; hence, fixer-uppers provide a 54.2% discount. With a median square footage of 1,628 vs 2,000 for all single-fam- ily homes, fixer-uppers are also often smaller. The average fixer-upper was con- structed in 1958 and has three bedrooms and two bathrooms. Fixer-upper homes get 52% more page views per property than comparable older, inexpensive homes, according to a recent Realtor.com analysis. In July 2025, the number of searches for the term "fixer-upper" on Realtor.com more than tripled compared to four years prior, indicating an increasing demand for affordable homes that purchasers may customize. Instead of investing the time and resources to present their home as move-in ready, sellers who are prepared to advertise a lower price and market it as a fixer-upper may find greater success with online homebuyers. Top Five Best Fixer-Upper Markets for Value & Inventory: 1. St. Louis 2. Detroit 3. Jackson, Mississippi 4. Toledo, Ohio 5. Dayton, Ohio The median list price of fixer-upper homes nationwide is only $200,000, which is a startling 54% reduction from the median price of $436,250 for all sin- gle-family homes. According to Realtor. com, St. Louis, Detroit, Jackson, Mississip- pi, Toledo, Ohio, and Dayton, Ohio, are the top five cities for buyers looking for fixer-uppers and these possible bargains. The prices of these "Fixer-Upper Five" are frequently less than half of those of comparable move-in-ready houses, making them an excellent option for both first-time buyers and in- vestors. Waco, Texas—home of HGTV's popular Fixer Upper series—offers a fix- er-upper discount of more than 53.4%, and these homes make up 10.0% of local listings, making it another affordable target with plenty of opportunities, despite being left out of the analysis because it is outside the top 100 metros. "Fixer-uppers give buyers a way to break into the housing market at a time when affordability is still stretched thin," said Danielle Hale, Chief Economist at Realtor.com. "For those with the vision and a toolbox, fixer-uppers provide both a starting point in the market and the chance to create a home that's truly their own. For sellers, listing their home as a fixer-upper at a lower price may generate more interest online than if they spend extra money on upgrades to make it move-in-ready." The average fixer-upper was constructed in 1958 and had three bedrooms and two bathrooms. With a median square footage of 1,628 square feet compared to 2,000 for all single-family houses, these homes are often smaller and older, but they provide a valuable resource: a more cost-effective route to