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!

April 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.

March 2019 brought more good news for the local real estate market and the market in general: The Federal Reserve announced that there will be no more interest rate hikes this year. That’s great news for everyone (‘except bond traders’, as a client who happens to be a bond trader quipped). It’s good news for buyers and sellers alike. It’s starting to feel more like spring in the mountains. Leaves are budding, birds are chirping, and docks are hitting the water!

The specifics:
-There were a whopping 58 new listings that came on the market. That’s an increase of 57% from last month and a 15.9% decrease from last year. The 5 year average was 73 new listings for the month of March,

-Pending sales (homes that went under contract) were up 17.9% from last month. That’s a decline of 6.1% from February 2018 and it was right in line with the 5 yr avg. Continue reading April 2019 Real Estate Rundown By Jay Ferguson

March 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.

Your March 2019 Real Estate Rundown

February 2019 brought almost all good news for the local real estate market. Virtually all measurables were positive, with the exception of the number of new listings that hit the market. That number dipped from last month AND last February. If you are in the market to sell, that’s pretty good news – less homes you are competing with overall. If you are in the market to buy, it’s about a dozen less homes you have to choose from. Continue reading March 2019 Real Estate Rundown By Jay Ferguson

Home Financing Tips from Local Experts

Our home financing tips cover some of the many avenues through which you can purchase and finance a home in today’s marketplace. I talked to some local experts in the accounting and mortgage industries, and they shared options to consider when choosing the best one for you. Factors such as how long you intend to own the property, the down payment funds you have available and the fees you will incur are just a few items for consideration. To begin your Deep Creek Lake real estate search, you can contact me, Betsy Holcomb, at 301-616-5022 or betsy@deepcreekvacations.com.

Home Financing – Mortgage Update Courtesy of Mike Archer, First Home Mortgage

According to Freddie Mac, the average 30 year fixed rate on 2/7/2019 was 4.41% with .4pts and 3.38% with .4pts on a 15 year term.  Interest rates have dropped rather significantly following steady climb throughout the 4th quarter of 2018.  The general consensus is that rates will likely level off and remain steady throughout 2019.

If you have contemplated a refinance, now is the time to investigate your options while rates remain historically low.  I am finding that more and more clients are moving from a 30 year to a 15 or 10 year options to reduce the interest rate and pay their house off more quickly as they are now contemplating retirement.  A quick phone conversation is all that is needed to evaluate your options.

If you looking to purchase a house and have less than 20% to put down?  If so, don’t worry, First Home Mortgage offers several options that allow you to put down less than 20% and avoid paying mortgage insurance.  We also have the option of using a 2nd mortgage to structure the loan so that both loans are under 80% of the property’s value and therefore do not require mortgage insurance. Continue reading Home Financing Tips from Local Experts

February 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.

Your February 2019 Real Estate Rundown

January 2019 brought us some extreme temperatures and it had an effect on the real estate market. First it was WARM…too warm for snow making. It was the 10th before we had below freezing temperatures for more than 24 hours. Then it was COLD. Too cold for anything. We had record low temperatures here in Garrett County, resulting in several lost school days, cancellations/delays and generally unsafe conditions. I woke up one day to a frosty -16 below and wind chills in the minus 25 range. With those kind of temperatures, people elected to stay home and stay indoors. I had several clients postpone trips to look at homes because of the weather. Besides the temperatures, there wasn’t a ton of snow. Once Wisp would get a good base going, it would warm up and rain/melt it all away. Case in point, we had a healthy 12” of fluffy, beautiful snow show up on January 31st, and the very next day, Punxsutawney Phil called for an early spring. It was near 60 for the next few days and all the snow we had accumulated was GONE. As I look outside right now, it’s a perfect ‘snow globe’ day, which we could use some more of! Continue reading February 2019 Real Estate Rundown By Jay Ferguson

Venus Stark Joins Taylor-Made Deep Creek Vacations & Sales

Venus Stark, REALTOR®, is the latest addition to Taylor-Made’s growing real estate division.

About Venus Stark

With over fifteen years of real estate experience, Stark has helped hundreds of buyers and sellers in Garrett County as well as neighboring Pennsylvania counties. She is an outdoor enthusiast with a passion for sharing her love of the area with her clients.

“I am native to the mountains and lakes, I have always enjoyed all the wonderful things the area has to offer. I am very fortunate to be able spend my life in mother nature’s playground surrounded by unlimited activities. I love the outdoors in all seasons from boating to snowmobiling,” said Stark.

She enjoys showing clients all there is to love about the area. Her goal is to be a valuable resource for sellers and buyers to make the real estate process enjoyable.

Venus Stark Joins Taylor-Made

Why Venus stark Joined Taylor-Made

“Venus Stark has long been known as a top producing agent in Pennsylvania and Maryland, and we are very excited to have her back working with us at Taylor Made,” states Taylor-Made Co-Owner and Sales agent, Jay Ferguson.

Her combination of experience, savvy and focus on customer service make her a perfect match for a company that has earned a reputation as one of the leading brokerages in the Deep Creek Lake area. Continue reading Venus Stark Joins Taylor-Made Deep Creek Vacations & Sales

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