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Diana White-Pettis, Realtor®
CDPE, CNE, GRI, WHC
Exit Bennett Realty
7701 Greenbelt Road #100
Greenbelt, MD 20770
Cell: 301-502-2669
Direct: 240-386-1309
Office: 301-459-5040
Email: dwhitepettis@gmail.com
Licensed in MD, DC, & VA

Welcome to the premier resource for all real estate information and services in the Maryland and District of Columbia area. I hope you enjoy your visit and explore everything my realty website has to offer, including Greenbelt real estate listings, information for homebuyers and sellers, and  Why Chose Me, your professional local Realtor.

Looking for a new home? Check back here often to see our Featured Listings, or use my Dream Home Finder form and I'll conduct a personalized search for you.

If you're planning to sell your home in the next few months, nothing is more important than knowing a fair asking price. I would love to help you with a FREE Market Analysis. I will use comparable sold listings to help you determine the accurate market value of your home.

Call me today! I look forward to hearing from you soon!

Real Estate News!!!

Latest Realty News from NAR

In Which States Did Properties Sell Quickly in September 2018?

In a monthly survey of REALTORS®, respondents reported that properties were typically on the market for 32 days (34 days on year ago), according to the  September 2018 REALTORS® Confidence Index Survey.[1]  However, the difference in median days in the current month compared to the same month last year has started to narrow as homebuying demand has eased and the inventory of homes for sale has slightly increased. In January and February of this year, properties were selling about one week less compared to the length of time in the same period one year ago.

During the July–September 2018, properties typically sold within one month in 27 states (32 states in August 2018).  Properties sold most quickly in South Dakota (20 days), Idaho (21), Washington (21 days), Rhode Island (21 days), Indianapolis (22 days), Kansas (23), Massachusetts (23), Ohio (23), Utah (23), Colorado (24), Nevada (24), Nebraska (24), Maine (24), and Michigan (24).  

That properties are still selling faster compared to one year ago is an indication that the supply of homes for sale is still inadequate compared to the demand for homes. Based on the REALTORS® Seller Traffic Index[2], home selling conditions were “weak” during July, August, and September 2018 compared to one year ago in the District of Columbia and in 28 states including California, Oregon, Colorado, New York, New Jersey, Massachusetts, Virginia, North Carolina, South Carolina, Georgia, Tennessee, and Florida.

 


[1] In generating the median days on market at the state level, NAR uses data for the last three surveys to have close to 30 observations. Small states such as AK, ND, SD, MT, VT, WY, WV, DE, and D.C., may have fewer than 30 observations.

[2] An index greater than 50 means that more respondents reported conditions relative to one year ago as “strong” than those that reported “weak.” Due to sampling, we categorize the index as “very weak” for 0 to 25; “weak” for values 25+ to 45; “stable” for values 45+ to 55; “strong” for values 55+ to 75; and “very strong” for values 75+.

September 2018 Housing Affordability Index

At the national level, housing affordability is up from last month but down from a year ago. Mortgage rates rose to 4.77 percent this September, up 14.9 percent compared to 4.15 percent a year ago.

  • Housing affordability declined from a year ago in September moving the index down 8.4 percent from 160.1 to 146.7. The median sales price for a single family home sold in September in the US was $260,500 up 4.6 percent from a year ago.
  • Nationally, mortgage rates were up 62 basis point from one year ago (one percentage point equals 100 basis points).

  • The payment as a percentage of income was down to 17 percent this September but up from 15.6 percent from a year ago. Regionally, the West has the highest payment at 23.7 percent of income. The South had the second highest payment at 16.5 percent followed by the Northeast at 16.4 percent. The Midwest had the lowest payment as a percentage of income at 13.5 percent.

  • Regionally, the West recorded the biggest increase in home prices at 7.0 percent. The Northeast had an increase of 5.3 percent while the South had a gain of 4.2 percent. The Midwest had the smallest growth in price of 2.2 percent.
  • Regionally, all four regions saw a decline in affordability from a year ago. The Northeast had the biggest drop in affordability of 9.0 percent. The South had a decline of 7.3 percent followed by the West that fell 6.8 percent. The Midwest had the smallest drop of 5.8 percent.
  • On a monthly basis, affordability is up from last month in all of the four regions. The Northeast had biggest gain of 5.5 percent. The Midwest had an incline of 4.2 percent followed by the South with an increase of 2.3 percent. The West had the smallest gain in affordability of 1.9 percent.
  • Despite month-to-month changes, the most affordable region was the Midwest, with an index value of 185.3. The least affordable region remained the West where the index was 105.4. For comparison, the index was 151.4 in the South, and 152.3 in the Northeast.

  • Mortgage applications are currently down. Mortgage rates are rising and home price growth is starting to slow down. Despite higher mortgage rates, lower home prices and increases inventory levels will help renters and potential home buyers enter the housing market. Home prices are up 4.6 percent outpacing median family incomes that are growing 3.1 percent.
  • What does housing affordability look like in your market? View the full data release here.
  • The Housing Affordability Index calculation assumes a 20 percent down payment and a 25 percent qualifying ratio (principal and interest payment to income). See further details on the methodology and assumptions behind the calculation here.

Third Quarter Single Family Metro Market Prices

The National Association of REALTORS® reported that quarterly home prices increased again this past quarter. Prices continued to rise, with 93% of the markets showing home price appreciation. While, single-family home price growth is slowing and median family incomes are rising, affordability has been declining. Knowing the mortgage rates and the qualifying incomes for down payments will help potential homeowners figure out what metro areas are affordable for them. Here is a look at the metro areas with the strongest price growth in the third quarter 2018, as well as a look at the yearly change in median existing single-family home prices for the top five highest and lowest growth metro areas of the third quarter 2018.

These are the top five single-family metro areas with the highest home price appreciation:

These are the bottom five single-family metro areas that had a decline in home price appreciation:

These are the most expensive metro areas for the third quarter 2018:

These are the least expensive metro areas for the third quarter 2018:

Qualifying Income Based on Sales Price of Existing Single-Family Homes for Metropolitan Areas by Region:

For the US, at the 5 percent down-payment threshold, the qualifying income amount for the third quarter of 2018 was $64,480. At the 10 percent down-payment mark, the qualifying income was $61,086, and with a 20 percent down-payment, the income required to qualify for a mortgage was $54,299. The West led all regions with the highest qualifying income while the Midwest had the lowest income for 5%, 10% and 20% down payments on a single-family home.

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Testimonials Page

Thank you so much for taking the extra effort to make my first home purchase successful. You were there guiding me through all the crucial and important steps! You really listened to what I wanted in a home and you found exactly what I was looking for - at an amazing price! When I outgrow this home in the coming years, I will definitely be calling you! Tiffany White
Thanks for all your help in making our "dream home" a reality. I really appreciated that you went the extra mile to get us the best price for our home. You are diligent, responsive, knowledgeable and are a true professional. I enjoyed the way you took the stress off of our first time home buying experience by explaining the steps so simplistically along the way. Thank you! Thank you! Thank you!. We will not hesitate to recommend you to all family and friends! Ms. Karen Brown
I just want to thank you for everything. As a first time homebuyer of a short sale property, the process was very stressful at times. It seemed like there was a challenge at every turn, but you continued to make sure all the glitches were resolved. I truly appreciated you letting me know upfront what to expect every step of the way and calmly reassuring me that "there is a bright light at the end of the tunnel and to keep the faith!" It, indeed, all worked out in the end and I am so grateful for all your help in locating the specific property, price, and location I wanted! Thank you.. Thank you..Thank You! Quentin N. Thomas
You made the home buying process so easy for us. We are grateful for how much patience you used in answering all of our questions and taking us to look at so many houses. You never pushed us into looking at something we were not interested in and you offered so many other options during the process. We will strongly recommend you to anyone looking at buying OR selling a home. Thank you for keeping us focused on staying within our price range (lol!) Mr. and Mrs. Walker
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