Buyers' Corner - Pineapple Homes LLC

A Buyers’ Guide

This “Buyer’s Guide” provides useful information in finding that dream home of yours as well as give you an insight of the things you need to consider.

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Buying House

A Millennial’s Guide to Homeownership

This guide aims to provide millennials with the necessary information to empower them to own their own home.

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Millennial Guide

Mortgage Calculator
A house is one of the largest purchase you will make that is why it’s important to calculate how much your expected mortgage payment will be. Using this mortgage calculator you can estimate your monthly payments and see the effect of adding extra payments.

You could also check this list of mortgage brokers to help you find the best terms and lowest rates that fit your needs.

Are You Ready to Buy a Home? If you think you can’t afford to buy a home, you may be surprised to learn otherwise. In 38 states, buying is actually cheaper than renting. However, buying a home comes with many costs not typically included with renting, like repairs and closing costs. So how do you know if you’re ready to make the investment? There is ...
Homeowners Aged 65+ Have 48x More Net Worth Than Renters Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. Their latest survey data covers responses from 2013-2016. The study revealed that the median net worth of a homeowner was $231,400 – a 15% increase since 2013. At the same time, the median net worth of renters ...
4 Reasons To Buy A Home This Winter! Here are four great reasons to consider buying a home today instead of waiting. 1. Prices Will Continue to Rise The same report predicts that prices will continue to increase at a rate of 4.7% over the next year. The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting ...
Home Prices Up 6.34% Across The Country! [INFOGRAPHIC] Some Highlights: The Federal Housing Finance Agency (FHFA) recently released their latest Quarterly Home Price Index report. In the report, home prices are compared both regionally and by state.
Further Proof It’s NOT 2008 All Over Again Home sales numbers are leveling off, the rate of price appreciation has slowed to more historically normal averages, and inventory is finally increasing. We are headed into a more normal housing market. However, some are seeing these adjustments as red flags and are suggesting that we are headed back to the same challenges we experienced in ...
24% Of Renters Believe Winter Is The Best Time To Buy A Home In real estate, the spring is often seen as the ideal time to buy or sell a house. The term “Spring Buyer’s Season” exists for a reason, as renters and those looking to move on from their current home thaw out from the winter and hit the market ready to buy. According to Bank of America’s annual Home Buyer Insights Report, ...
Buyers: Don’t Be Surprised By Closing Costs! Many homebuyers think that saving for their down payment is enough to buy the house of their dreams, but what about the closing costs that are required to obtain a mortgage? By law, a homebuyer will receive a loan estimate from their lender 3 days after submitting their loan application and they should receive a closing disclosure 3 days before ...
Existing Home Sales Slowed By A Lack Of Listings [INFOGRAPHIC] Some Highlights: The inventory of existing homes is still below the 6-month supply needed for a normal market and is now at a 4.3-month supply. NAR’s Chief Economist, Lawrence Yun, had this to say: “After six consecutive months of decline, buyers are finally stepping back into the housing market. As more inventory enters the market and we head into the ...
Females Are Making It A Priority To Invest In Real Estate! Everyone wants a place to call home; a place that gives them a sense of security. We are currently seeing major interest from females who want to achieve this dream, and the numbers are proving it! In 2017, 60% of millennial women listed as the primary borrowers on mortgages were single. According to the 2018 Home Buyer and Seller ...
What’s Going On With Home Prices? CoreLogic’s Chief Economist Frank Nothaft gave some insight into this change, “The rise in mortgage rates this summer to their highest level in seven years has made it more difficult for potential buyers to afford a home. The slackening in demand is reflected in the slowing of national appreciation, as illustrated in the CoreLogic Home Price Index. National ...
The True Cost Of NOT Owning Your Home Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for the entirety of America’s existence. Realtor.com reported that: “Buying remains the more attractive option in the long term – that remains the American dream, and ...
Buying a Home is Cheaper than Renting in 38 States! [INFOGRAPHIC] Some Highlights: In six states the difference between buying & renting would account for less than a $50 monthly difference, leaving the choice up to the individual family. Nationwide, it is now 26.3% cheaper to buy.
Are We About To Enter A Buyers’ Market? Home sales are below last year’s levels, home values are appreciating at a slower pace, and there are reports showing purchasing demand softening. This has some thinking we may be entering a buyers’ market after sellers have had the upper hand for the past several years. Is this really happening? The market has definitely softened. However, ...
2 Factors To Watch In Today’s Real Estate Market Whether Buying Or Selling When it comes to buying or selling a home there are many factors you should consider. Where you want to live, why you want to buy or sell, and who will help you along your journey are just some of those factors. Interest Rates Mortgage interest rates have been on the rise and are now over ...
Mortgage Interest Rates Are Still Going Up… Should You Wait To Buy? Mortgage interest rates, as reported by Freddie Mac, have increased by close to a quarter of a percent over the last several weeks. Freddie Mac, Fannie Mae, the Mortgage Bankers Association, and the National Association of Realtors are all calling for mortgage rates to rise another quarter of a percent by next year. In addition to the predictions from the four major reporting agencies mentioned above, ...
How Does The Supply Of Homes For Sale Impact Buyer Demand? The price of any item is determined by the supply of that item, as well as the market’s demand for it. The National Association of REALTORS (NAR) surveys “over 50,000 real estate practitioners about their expectations for home sales, prices and market conditions” for their monthly REALTORS Confidence Index. Their latest edition sheds some light on the relationship between seller traffic (supply) and buyer traffic(demand). Buyer Demand The ...
Should I Buy Now? Or Wait Until Next Year? [INFOGRAPHIC] Some Highlights: The cost of waiting to buy is defined as the additional funds it would take to buy a home if prices & interest rates were to increase over a period of time. If you are ready and willing to buy your dream home, find out if you are able to!
Are Home Prices Softening Or Are They Falling? We are beginning to see reports that more housing inventory is coming to the market and that buyer demand may not be increasing at the same pace it did earlier this year. The result will be many headlines written to address the impact that these two situations will have on home values. Many of these headline ...
The Cost Of NOT Paying PMI Saving for a down payment is often the biggest hurdle for a first-time homebuyer as median incomes, rents, and home prices all vary depending on where you live. There is a common misconception among homebuyers that a 20% down payment is required, and it is this limiting belief that often adds months, and sometimes even years, ...
Where Are Mortgage Interest Rates Headed In 2019? The interest rate you pay on your home mortgage has a direct impact on your monthly payment; the higher the rate, the greater the payment will be. That is why it is important to know where rates are headed when deciding to start your home search. Below is a chart created using Freddie Mac’s U.S. Economic & ...
How Much Has Your Home Increased In Value? Home values have risen dramatically over the last twelve months. In CoreLogic’s most recent Home Price Index Report, they revealed that national home prices have increased by 6.2% year-over-year. CoreLogic broke down appreciation even further into four price ranges, giving us a more detailed view than if we had simply looked at the year-over-year increases in national median home price. The chart below ...
Is The Real Estate Market Finally Getting Back To Normal? The housing market has been anything but normal for the last eleven years. In a normal real estate market, home prices appreciate 3.7% annually. Below, however, are the price swings since 2007 according to the latest Home Price Expectation Survey: After the bubble burst in June 2007, values depreciated 6.1% annually until February 2012. From March 2012 to today, ...
Home Prices: The Difference 5 Years Makes CoreLogic recently released their Home Price Index Report. One of the key indicators used in the report to determine the health of the housing market was home price appreciation. CoreLogic focused on appreciation from July 2013 to July 2018 to show how prices over the last five years have fared. The graph below was created to show the 5-year change in ...
Is Buying A Home Really More Stressful Than Planning A Wedding? [INFOGRAPHIC] Some Highlights: Many young couples are saving for a wedding and a home at the same time. The average US wedding now costs 66% of a median home down payment, according to The Knot.
Are Homebuyers Starting To Hit The ‘Pause’ Button? For the last several years, buyer demand has far exceeded the housing supply available for sale. This low supply and high demand have led to home prices appreciating by an average of 6.2% annually since 2012. With this being said, three of the four major reports used to measure buyer activity have revealed that purchasing demand ...
4 Reasons Why Fall Is A Great Time To Buy A Home! Here are four great reasons to consider buying a home today instead of waiting. 1. Prices Will Continue to Rise CoreLogic’s latest Home Price Insights report reveals that home prices have appreciated by 6.2% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.1% over the next year. Home values will ...
Home Prices Up 6.49% Across The Country! [INFOGRAPHIC] Some Highlights: The Federal Housing Finance Agency (FHFA) recently released their latest quarterly Home Price Index report. In the report, home prices are compared both regionally and by state. Based on the latest numbers, if you plan on relocating to another state, waiting to move may end up costing you more!
What Does The Future Hold For Home Prices? Home prices are at the top of everyone’s minds. Can they maintain their current pace of appreciation? Will rising mortgage rates negatively impact home values? Will the next economic slowdown cause prices to crash? Let’s try to answer these questions based on what has happened in the past as well as what we know about the ...
Homeownership Is A Dominant Gene There are many things that factor into the decision to buy a home. New research from the Urban Institutesuggests that one of those things may be inherited from your parents. Children are More Likely to Own a Home if Their Parents Did According to an analysis of millennial homeowners, the homeownership rate of those whose parents rent their homes is ...
Rents Are On The Rise: Don’t Get Caught In The Rental Trap! There are many benefits to homeownership, but one of the top benefits is protecting yourself from rising rents by locking in your housing cost for the life of your mortgage. Don’t Become Trapped A recent article by Apartment List addressed rising rents by stating: “Our national rent index is up 0.1 percent month-over-month, marking the sixth straight month of increasing rents. Year-over-year growth ...
5 Reasons You Should Sell This Fall! Here are five reasons why listing your home for sale this fall makes sense. 1. Demand Is Strong These buyers are ready, willing and able to purchase…and are in the market right now! In fact, more often than not, multiple buyers end up competing with each other to buy the same homes. Take advantage of the buyer activity currently ...
A+ Reasons To Hire A Real Estate Pro [INFOGRAPHIC] Some Highlights: Hiring a real estate professional to help you buy your dream home or sell your current house is one of the most ‘educated’ decisions you can make! Make sure that you hire someone who knows current market conditions and can simply and effectively explain them to you and your family!
Why Are Existing Home Sales Down? The latest Existing Home Sales Report issued by the National Association of Realtors (NAR) revealed that home sales have decreased for four consecutive months and are at their slowest pace in over two years. This has some industry leaders puzzled considering the fact that the economy is strengthening, unemployment is down, and wages are beginning to rise. This begs ...
Top 3 Myths About Today’s Real Estate Market There are many conflicting headlines when it comes to describing today’s real estate market. Some are making comparisons to the market we experienced 10 years ago and are starting to believe that we may be doomed to repeat ourselves. Others are just plain wrong when it comes to what it takes to qualify for a ...
Rent Or Buy: Either Way You’re Paying A Mortgage! There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize, however, that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s. As Entrepreneur Magazine, a premier source for small business, explained in their article, “12 Practical ...
What State Gives You The Most ‘Bang For Your Buck’? [INFOGRAPHIC] Some Highlights: The majority of states in the Midwest and South offer a lower cost of living than states in the Northeast and West. The ‘biggest bang for your buck’ comes in Mississippi where, compared to the national average, you can actually purchase $115.74 worth of goods for $100. For more information regarding the methodology used to create ...
Having Trouble Saving Enough For Your Down Payment? Crowdfund It! You read that right! First-time buyers across the country are getting creative when it comes to saving the necessary down payment to buy a home. Many couples are asking their wedding guests to contribute to their “Down Payment Fund” rather than fulfilling a traditional registry. This is fueled by the fact that many couples live together ...
5 Real Estate Reality TV Myths Explained Have you ever been flipping through the channels, only to find yourself glued to the couch in an HGTV binge session? We’ve all been there, watching entire seasons of “Love it or List it,” “Million Dollar Listing,” “House Hunters,” “Property Brothers,” and so many more all in one sitting. When you’re in the middle of your real estate ...
The Net Worth Of A Homeowner Is 44x Greater Than A Renter! Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. Their latest survey data, covering 2013-2016 was recently released. The study revealed that the median net worth of a homeowner was $231,400 – a 15% increase since 2013. At the same time, the median net worth of ...
Have You Outgrown Your Starter Home? For many Americans, buying their first home is their first taste of achieving part of the American Dream. There is a sense of pride that comes along with owning your own home and building your family’s wealth through your monthly mortgage payment. It may seem hard to imagine that the first home you purchased (which made ...
Are You Thinking Of Selling Your Home? Competition Is Coming! The number of building permits issued for single-family homes is the best indicator of how many newly built homes will rise over the next few months. How will this impact buyers? More inventory means more options. Mark Fleming, First American’s Chief Economist, explained that this is good news for the housing market – especially for those looking to buy: “The continued ...
Existing Home Sales Cooling Off This Summer [INFOGRAPHIC] Some Highlights: Inventory of homes for sale showed a modest improvement of 0.5% over last year’s figures, but still remains under the 6-month supply needed for a normal market. NAR’s Chief Economist Lawrence Yun had this to say: “There continues to be a mismatch since the spring between the growing level of homebuyer demand in most of the country ...
Supply & Demand Will Determine Future Home Values Will home values continue to appreciate throughout 2018? The answer is simple: YES! – as long as there are more purchasers in the market than there are available homes for them to buy. This is known as the theory of “supply and demand,” which is defined as: “The amount of a commodity, product, or service available ...
The Wave Of Millennial Homebuyers Continues To Swell Many have written about the millennial generation and whether or not they, as a whole, believe in homeownership as a part of attaining their American Dream. Comparatively speaking, For older millennials (aged 25-34) who have established themselves in their career and are starting to build their families, homeownership is the next logical choice. According to the Urban Institute’s State ...
5 Reasons To Hire A Real Estate Professional Before Entering The Market! Whether you are buying or selling a home, it can be quite the adventure. In this world of instant gratification and internet searches, many sellers think that they can ‘For Sale by Owner’ or ‘FSBO,’ but it’s not as easy as it may seem. That’s why you need an experienced real estate professional to guide you on the path to ...
Millionaire To Millennials: Owning Your Home Can Help You Retire Sooner! In a CNBC article, self-made millionaire David Bach explained that: “Buying a home is the escalator to wealth in America. c.” Bach suggests that homebuyers should, “Take out a 30-year mortgage, but with the intention of paying it off in 25, 20 or ideally, 15 years.” How does he suggest you do this? Here’s the secret: “…If you were paying $1,000 a month, ...
Home Buying Myths Slayed [INFOGRAPHIC] Some Highlights: Despite mortgage interest rates being over 4%, rates are still below historic numbers. 88% of property managers raised their rents in the last 12 months!
Are Lending Standards Propping Up Home Prices? Back in 2005, Federal Reserve Chairman Alan Greenspan described the dramatic increases in residential real estate values as a “froth in housing markets.” Greenspan went on to say: “The increase in the prevalence of interest-only loans and the introduction of more-exotic forms of adjustable-rate mortgages are developments of particular concern…some households may be employing these instruments to purchase homes that ...
Buying House Is Now 26.3% Cheaper Than Renting In The US In the six years that Trulia has conducted this study, this is the first time that it was cheaper to rent than buy in any of the metropolitan areas. It’s no surprise, however, that those two metros are San Jose and San Francisco, CA, where median home prices have jumped to over $1 million dollars this year. Home ...
You Need An Real Estate Agent Who Will Always Put You First Whether you are a rookie homebuyer or have gone through the process many times, having a local real estate expert who is well versed in the neighborhood you are looking to move to, as well as the trends of that area, should be your goal while home shopping. One great example of an agent who is in your ...
Americans Rank Real Estate Best Investment For 5 Years Running! [INFOGRAPHIC] Some Highlights: The generations agree! Real estate is the best investment! Generation X leads the way with 37% believing in real estate as the top investment.
4 Reasons Why We Are Not Heading Toward Another Housing Bubble With home prices continuing to appreciate above historic levels, some are concerned that we may be heading for another housing ‘boom & bust.’ It is important to remember, however, that Here are four key metrics that will explain why: Home Prices Mortgage Standards Foreclosure Rates Housing Affordability 1. HOME PRICES There is no doubt that home prices have reached 2006 levels ...
Will Your Current House Fit Your Needs In Retirement? As more and more baby boomers enter retirement age, the question of whether or not to sell their homes and move will become a hot topic. In today’s housing market climate, with low available inventory in the starter and trade-up home categories, it makes sense to evaluate your home’s ability to adapt to your needs ...
What You Need To Know About The Mortgage Process [INFOGRAPHIC] Some Highlights: Many buyers are purchasing a home with a down payment as little as 3%. Take advantage of the knowledge of your local professionals who are there to help you determine how much you can afford.
Housing Market Will Not Fall Victim To Next Economic Storm Some experts are calling for a slowdown in the economy later this year and most economists have predicted that the next recession could only be eighteen months away. The question is, what impact will a recession have on the housing market? Here are the opinions of several experts on the subject: Ivy Zelman in her latest “Z Report”: “While economic activity ...
Checklist For Buying A Second Home You might think that a vacation home is something only the wealthy can own. Yet the reality is, Americans buy about 2 million vacation or investment properties each year to enjoy the benefits of owning a second home. Whether they purchase their second home for recreational purposes, to prepare it for their retirement, or as ...
Demand For Homes To Buy Continues To Climb First-time homebuyers are out in force and are being met with a highly competitive summer real estate market. According to the National Association of Realtors (NAR), the inventory of homes for sale “has fallen year-over-year for 36 consecutive months,” and now stands at a 4.1-month supply. A 6-month supply of inventory is necessary for a balanced market and has not been ...
4 REAL Reasons Why We Buy A Home! We often talk about why it makes financial sense to buy a home, but more often than not, the emotional reasons are the more powerful or compelling ones. No matter what shape or size your living space is, the concept and feeling of home can mean different things to different people. Whether it’s a certain scent ...
First-Time Home Buyers Continue To Put Down Less Than 6%! Many potential homebuyers believe that a 20% down payment is necessary to buy a home and have disqualified themselves without even trying, but in March, 71% of first-time buyers and 54% of all buyers put less than 20% down. Ralph McLaughlin, Chief Economist and Founder of Veritas Urbis Economics, recently shed light on why buyer demand has remained strong, “The fact that we now have four ...
House-Buying Power At Near-Historic Levels We keep hearing that home affordability is approaching crisis levels. While this may be true in a few metros across the country, housing affordability is not a challenge in the clear majority of the country. In their most recent Real House Price Index, First American reported that consumer “house-buying power” is at “near-historic levels.” Their index is based on ...
Rising Interest Rates Have Not Dampened Demand Since the beginning of the year, mortgage interest rates have risen over a half of a percentage point (from 3.95% to 4.52%), according to Freddie Mac. Even a small rise in interest rates can greatly impact a buyer’s monthly mortgage payment. First American recently released the results of their quarterly Real Estate Sentiment Index (RESI), in which they surveyed title and real estate ...
Cost Across Time [INFOGRAPHIC] Some Highlights: With interest rates still around 4.5%, now is a great time to look back at where rates have been over the last 40 years. Lock in a low rate now while you can!
Homes More Affordable Today Than 1985-2000 Rising home prices have many concerned that the average family will no longer be able to afford the most precious piece of the American Dream – their own home. However, it is not just the price of a home that determines its affordability. The monthly cost of a home is determined by the price and the interest rate ...
VA Loans: Making A Home For The Brave Possible Many veterans do not know the details of the program and therefore do not take advantage of the benefits available to them. If you are a veteran or you know someone who is, here is a breakdown of the VA Home Loan benefits that can be used to achieve the American Dream! Top 5 Benefits of ...
Buying This Summer? Be Prepared For Bidding Wars Summer is traditionally a busy season for real estate. Buyers come out in force and homeowners list their houses for sale hoping to capitalize on those buyers who are looking to purchase before the new school year. This year will be no different! Buyers have already been out in force looking for their dream homes and more are ...
5 Reasons Millennials Choose To Buy A Home [INFOGRAPHIC] Some Highlights: “The majority of millennials said they consider owning a home more sensible than renting for both financial and lifestyle reasons — including control of living space, flexibility in future decisions, privacy and security, and living in a nice home.” Many millennials who rent a home or apartment prior to buying their own homes dream of ...
Next Recession In 2020? What Will Be The Impact? Economists and analysts know that the country has experienced economic growth for almost a decade. They also know that a recession can’t be too far off. A recent report by Zillow Research shed light on a survey conducted by Pulsenomics in which they asked economists, investment strategists and market analysts how they felt about the current housing market. That report revealed ...
What’s The Median Home Value In Your State? If you’ve entered the real estate market as a buyer or a seller, you’ve inevitably heard the mantra “location, location, location” in reference to identical homes increasing or decreasing in value based on where they’re located. In today’s housing market where home prices are appreciating quickly, it’s important to know that not every home appreciates at the same ...
Are You Wondering If You Can Buy Your First Home? There are many people sitting on the sidelines trying to decide if they should purchase a home or sign a rental lease. Some might wonder if it makes sense to purchase a house before they get married or start a family, some might think they are too young, and still, some others might think their current incomes ...
You DO NOT Need 20% Down To Buy Your Home NOW! The Aspiring Home Buyers Profile from the National Association of Realtors (NAR) found that the American public is still somewhat confused about what is required to qualify for a home mortgage loan in today’s housing market. The results of the survey show that the main reason why non-homeowners do not own their own homes is because they believe that they ...
Homes Are More Affordable In 44 Out Of 50 States With both home prices and mortgage rates increasing this year, many are concerned about a family’s ability to purchase a major part of the American Dream – its own home. However, In Black Knight’s latest monthly Mortgage Monitor, they revealed that in the vast majority of the country, it is actually more affordable to purchase a home today than it ...
3 Issues Facing Today’s Real Estate Market Last week, the National Association of Real Estate Editors (NAREE) held their 52nd Annual Journalism Conference in Las Vegas, NV. Among the many highly anticipated sessions was one called “Top Ten Issues Affecting Real Estate™,” given by Joseph Nahas, Jr., Chair of the Counselors of Real Estate & Senior Vice President of Equus Capital Partners. The Counselors of Real Estate (CRE) “is an international organization of ...