Setting the Right Price For Your Deep Creek Lake Home

Setting the Right Price for your Deep Creek Lake area home is the most crucial step to real estate success. Determining the right price for your home is a difficult task.  By setting your price too high, your home may become stagnate on the market. If your home is priced too low, you may lose out on thousands of dollars!

Use Your Resources – Your Agent!
What you need is someone who works in the market everyday – and that person is your agent. No one can offer you a better opinion of pricing and sales. Once your agent is familiar with your home, he or she can prepare a CMA and propose a price.

No Home is an Island …
Real estate moves in cycles. While home prices have usually risen over time, the path is unpredictable. What you will get for your home – and the time it will take to get it – depend on the overall market.

No Tears.
Be objective about your home when determining price. Remember, it is not relevant what you paid, how long you lived there, or how much you adore the property. The important consideration is what it will do in the market.

Is Your Home Overbuilt?
Generally, nicer homes yield higher sales prices. However, the closer you get to the top of the market, that theory may change. Overbuilt homes rarely sell within the price range it appears that they should. Buyers in the price range of the overbuilt home are generally interested in more upscale communities, while the typical buyer for the area cannot afford to pay a significantly higher price. Unfortunately, sellers with homes that are overbuilt will end up accepting less than they think they should.

The Deep Creek Market
Your Taylor-Made Deep Creek Vacations & Sales real estate agent is here to help you! Helping you reach your goal is their number #1 objective. In order to do that, your home MUST be priced properly. **Here’s an interesting fact, over the past year in Deep Creek Lake, homes with lower days on market sold for an average of 95% of list price. Homes with longer days on market only got an average of 90% of list price. What are the obvious takeaways? If your home is priced at or slightly below market value, you will sell faster and for more money! If your home is over-priced, it will take longer to sell and you will not get as much at closing. The average sales price for Deep Creek Lake homes is $500,000. Based on our list to close calculations, if you price this home incorrectly, you may lose as much at $50,000 in negotiations! No one wants that. When you’re ready to list your home, schedule an in depth consultation with a Taylor-Made Deep Creek Vacations & Sales agent, they will guide you through the pricing process and make sure that you get the most money possible for your home!

**Data from BrightMLS – deemed to be accurate but not guaranteed

Special thanks to Beverly Everett, guest contributor!

Deep Creek Lake Real Estate Agents, The Everett Team

Beverly Everett

Email: Beverly@DeepCreekVacations.com
Phone: 301-387-4700
Cell: 301-616-4805

Most people recognize Bob and Beverly Everett from simply hearing them utter a single word. Their deep Southern drawl is as unmistakable as their down-home hospitality and charming friendliness. Not only does this respected local business team with over 15 years experience in real estate speak with a unique accent – it’s simple in the Everett’s nature to accentuate the positive. One way they do this is by making the most of the great life they’ve discovered here. 

Learn more about The Everett Team – Click Here!

January 2019 Real Estate Rundown By Jay Ferguson

“There are three kinds of lies: lies, damned lies, and statistics.” – Mark Twain

My name is Jay Ferguson and I am one of the owners of the real estate division of Taylor Made Deep Creek Vacations & Sales. I am entering my 19th year in the real estate business here in Garrett County and at Deep Creek Lake. If you are interested, you can find out more about me personally and my background here.

I will be writing a monthly blog post about our local real estate market, sharing & interpreting statistics and offering some insights into the market as a whole…as I see it. These are my personal thoughts and musings about the market in general and are not intended as anything more specific.

Lastly, every stat I reference is based on the official stats published by Bright MLS on or around the 15th of each month. My plan is to give you straightforward stats, analysis and let you interpret what you read. This first post will be longer than most, as I have more background to cover to bring you up to speed.

January 2019 Real Estate Rundown

So, without further ado, lets jump into some numbers!

january-2019-real-estate

2018 was an off-year compared to the robust numbers we experienced in 2017. The market was down in almost every measurable category. Total sales volume (-12.36%) and average sales price (-6.78%) both dropped over the past year. The total number of units sold was down nearly 6%. Continue reading January 2019 Real Estate Rundown By Jay Ferguson

Hero’s Day at Wisp Resort

Wisp Resort at Deep Creek Lake in McHenry, Maryland will host “Hero’s Day” on January 4, 2019. This is an annual event held on the first Friday of the new year at this premier Western Maryland winter resort. 

This special day provides discounts and complimentary tickets to military and first responders including police officers, fire fighters, and emergency medical service personnel. “Hero’s” will receive a complimentary 1-day extended day lift ticket. In addition, immediate family members of ‘Hero’ are eligible for a $14 1-day extended day lift ticket valid for Friday, January 4. Wisp Resort will also offer $19 sport ski or snowboard rental. Enjoy half price group lessons and “buy on get one” Mountain Park products valid!

This is just one event that the Wisp offers for military and service personnel. The resort also participates in the annual “Military March” promotion through the Garrett County Chamber of Commerce. In 2018, Wisp offered active and veteran military up to 25% on lift tickets, rentals, lessons, snow tubing, mountain coaster and ice skating during the month of March. We look forward to sharing their 2019 offer with you!

 

Maggie Moran, Marketing Coordinator at Wisp Resort shared about the event: “We are grateful to be part of a country that grants each individual the freedom to choose who and what he or she wants to be. And we are proud to be part of the group of individuals who fights for that freedom. From our gratitude, we have designated Hero’s Day and Military March for those soldiers and first responders.”

Taylor-Made Deep Creek Vacations & Sales is proud to be a company that supports our military and employs many veterans! Thanks to the folks at Wisp Resort for offering this tremendous event for our true hero’s! Visit deepcreekvacations.com to check out homes available for a last minute stay this weekend!

Blackwater Falls – A Favorite Deep Creek Day Trip

Blackwater Falls is less than an hour southwest of Deep Creek Lake.  Blackwater Falls State Park is the centerpiece the West Virginia state park system.  Strikingly beautiful, this enchanting park contains a dense hardwood and pine forest, half-mile wide 500 foot deep canyon and several cascading waterfalls.  The region offers outdoor enthusiasts a wide array of activities to choose from including: hiking, kayaking, bicycling, cross country skiing, snowshoeing, nature photography and wildlife observation.

blackwater falls

Blackwater Falls State Park History

Blackwater Falls State Park is named for the falls of the Blackwater River whose amber-colored waters plunge five stories, then twist their way through an eight-mile long gorge. The river’s “black” water is a result of tannic acid from fallen hemlock and red spruce needles.  Although they are a natural component of the ecosystem, the tannins cause the river to be highly acidic.  In order for aquatic species to survive, lime is added to the river to counteract the acidity. Continue reading Blackwater Falls – A Favorite Deep Creek Day Trip