September 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 click here find out more about me personally and my background.

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. And, to be clear, I am an optimistic, glass half-full kind of guy.

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 coupled with my analysis from the front lines and let you interpret what you read in your own way.

August 2019  – We finished the month with 69 new listings, down from 71 new listings in July. The biggest news I report on below is the massive jump in median sales price. It rose 59.2% to $306,500! I think more lakefront sales (higher overall sales price) play the biggest part here in determining this stat. More positive news –  interest rates dropped again this week and that should pave the way for more buyers who just cannot pass up the opportunity to purchase a primary home or even a weekend getaway and pay historically low interest rates. The leaves are starting to change and showing signs of fall, but the stats below show that the summer of 2019 at DCL is still going strong! Continue reading September 2019 Real Estate Rundown By Jay Ferguson

10 Fun Facts About Deep Creek Lake

Lots of people are curious about Deep Creek Lake. As a lifelong resident and experienced sales agent, I put together some popular questions along with the answers. If you are interested in buying or selling real estate in the area, you can contact me, Betsy Spiker Holcomb, at betsy@deepcreekvacations.com or 301-616-5022.

How big is Deep Creek Lake?

The lake has 65 miles of shoreline and covers 3,900 acres. That makes it Maryland’s largest freshwater lake. The average depth is about 26 feet. The deepest point is 72 feet.

about deep creek lake

What is the elevation of the mountains around Deep Creek?

The area’s average elevation is 2,300 feet above sea level. Backbone Mountain, Maryland’s Highest point, is located in Garrett County.  It reaches 3,360 feet above sea level. The lake itself is about 2,455 above sea level.

What are some Deep Creek Lake activities?

There are almost too many to list! Outdoor recreation includes: boating, swimming, fishing, hiking, skiing, snow tubing, sledding, cross country skiing, kayaking, paddleboarding, white water rafting, golf, biking, wake boarding, ziplines and much more.

More leisurely options include: antique shops, a movie theater, museums, historic sites, restaurants, specialty stores, farmer’s markets and simply enjoying the view. Continue reading 10 Fun Facts About Deep Creek Lake

August 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 click here find out more about me personally and my background.

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. And, to be clear, I am an optimistic, glass half-full kind of guy.

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 coupled with my analysis from the front lines and let you interpret what you read in your own way.

July 2019  – We finished the month with 71 new listings, down from 81 new listings last month. The biggest stat that I report on below is the number of new, pending sales. A whopping 78 new pending sales in July! I believe the recent drop in interest rates helped to fuel this activity, but the growing desire to own a piece of paradise is evident when you are looking at properties in Garrett County & Deep Creek Lake! Continue reading August Real Estate Rundown By Jay Ferguson

July 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 click here find out more about me personally and my background.

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. And, to be clear, I am an optimistic, glass half-full kind of guy.

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 coupled with my analysis from the front lines and let you interpret what you read in your own way.

June 2019  – We finished the month with 81 new listings, down from 114 new listings last month. Most sellers have their home on the market by July 4th or so, if they are planning on selling. Of course, there are always late additions to the summer market but that happens every year. June also happened to be VERY rainy and wet. We had several flash flood watches in our area and a lot of that pretty landscaping was washed out in a matter of minutes. Area contractors are having an especially hard time keeping up with their workloads, as the rain set everyone back – especially for outdoor work and exterior paint jobs. Continue reading July 2019 Real Estate Rundown By Jay Ferguson

June 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. And, to be clear, I am an optimistic, glass half-full kind of guy.

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 coupled with my analysis from the front lines and let you interpret what you read in your own way.

May 2019 brought even more new inventory – 114 new listings on the market for sale. Its par for the course as sellers put their homes up for sale during the time of year where the vacation audience is at its peak. Homes are looking their best right now and docks are in the water. Social media feeds are loaded with snapshots of #LakeLife and gorgeous sunsets. It’s an amazing opportunity to carve out your own slice of lake life at its finest!

Continue reading June 2019 Real Estate Rundown By Jay Ferguson

10 Steps to a Successful Settlement

Successful settlement is the end goal of any real estate transaction. Finding your perfect home is the beginning to many years of wonderful memories but there are some additional subsequent details that must be managed to ensure that happens.

1.Notify your lender and lock your rate

Once you have negotiated a price and secured the right property for your family, quickly begin working with your lender so they can lock the best interest rate for you.  Some rate locks are 30-days and others are 45-60 days.  It’s important to know this upfront so that you are not in a position to have to pay additional money to keep your rate if settlement goes beyond your rate lock period.

2.Ensure that deposit is received by your REALTOR® and deposited once contract is ratified

With a real estate transaction, it is typical to provide a good faith/escrow/earnest money deposit at time of offer or once your contract is accepted and both buyer and seller have signed.  This deposit will be held until time of closing and applied to your purchase price.

3.Watch deadlines for contingency completions

If you have inspection contingencies in your contract, it is important to make sure your inspections are all completed within the time periods allotted in the contract.  This way, if there are repairs that need to be addressed, you have ample time to notify the sellers and get them repaired prior to closing.  If you miss the deadline then you may not be able to ask for repairs. Continue reading 10 Steps to a Successful Settlement

Deep Creek Lake Real Estate Terms

Deep Creek Lake real estate terms can be challenging to understand if you are unfamiliar with the area. A review of the following terms used to describe real estate and permits around the lake will assist you in making your buying decisions.  Understanding these definitions will help you determine the property that’s the best fit for you (Lakefront, Lake Access, Split Lakefront, Lake View).  Using a Taylor-Made experienced and trained REALTOR® will ensure that your best interests are at heart every step of the way. I am Betsy Holcomb, a co-owner of Taylor-Made real estate and a sales agent. Feel free to contact me any time at betsy@deepcreekvacations.com or 301-616-5022 with any questions you might have.

Deep Creek Lake Real Estate Terms

ASSIGNED SLIP – A term used to indicate that the residential unit or lot has the exclusive use of a specific boat slip issued to the Council of Unit Owners or Homeowners Association.

BUFFER STRIP – Land owned by the State of Maryland between the water’s surface and the private property boundaries of adjacent landowners to an elevation of approximately 2466’ in most locations.  Said buffer strip is designed to provide an access area between the actual water surface and private property adequately sized to permit the general public to walk or fish around the entire perimeter of Deep Creek Lake. Continue reading Deep Creek Lake Real Estate Terms

May 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 when you click 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. And, to be clear, I am an optimistic, glass half-full kind of guy.

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 coupled with my analysis from the front lines and let you interpret what you read in your own way.

April 2019 brought a TON of new inventory – over 100 new listings on the market for sale. Its good news for buyers who want to have more choices, but it’s a little nerve-wracking for sellers who now have more competition. Continue reading May 2019 Real Estate Rundown By Jay Ferguson

Past & Present: Log Cabins in Deep Creek, MD

Log cabins in Deep Creek, MD have long been a staple style of home. They evoke that perfect “mountain vibe” for vacationers, second home owners and full-time residents.

log cabins in deep creek, md

Past: Log Cabins in Deep Creek, MD

As you might know, Deep Creek Lake was built in 1924-25; within about 10 years, people realized what a gem it was and began building “camps and cottages”.  Some of the early cottages were one-room log cabins, built with logs that had been felled for the lake’s construction.  According to the August 28, 1938 newsletter of the Deep Creek Lake Association, there were 189 private cottages and 80 cottages for rent around all of Deep Creek Lake.  Many of those were very modest log buildings accompanied by an outhouse (privy) with no running water.

Continue reading Past & Present: Log Cabins in Deep Creek, MD

Taylor-Made Real Estate Celebrates 5th Anniversary!

The Taylor-Made real estate division reached a key milestone in April 2019 – 5 years in business. This achievement is underscored by rapid growth and a focus on positive client outcomes.

The vacation rental side of the company opened in 2008 and was founded by Jodi Taylor Refosco, her husband, Joe Refosco, and her brother, Chad Taylor. After many successful years renting homes, real estate sales was the next natural step.

Taylor-Made Real Estate

In 2014, they partnered with Jay Ferguson, a top-producing area agent, to open the real estate division. Along with being a co-owner, he was the first sales agent. Local real estate professionals began to join the team. Continue reading Taylor-Made Real Estate Celebrates 5th Anniversary!