Flowers are starting to pop up for a late start to spring, trees are beginning to bud and the Deep Creek Lake real estate market is starting to wake up.
April 2018 Real Estate Update
The inventory in Garrett County grew a little to 338 homes but more importantly the sales are climbing out of the early year slump with thirty-eight homes sold in the past thirty days. Fourteen of them were lake area sales which is down over last year at this time, but still showing signs of a growing market.
The average sales prices was over $390,000 with the highest price sold being just under $1 million. Homes priced between $300,000 and $500,000 have been especially popular in the past few months. That has been a struggling market last few years as more of the higher priced homes were gathering more contracts.
Your best source is a local real estate agent. Let them guide you in the right direction. This market is starting to pick up and information on popular websites might not be updated. Let us help you find the perfect Deep Creek Lake home. Continue reading April 2018 Real Estate Update
Your Deep Creek Lake Real Estate Update
Winter is still holding on and giving us a few more blasts of snow, just like our inventory of homes. The number of homes on the market is still lingering around 330 in all of Garrett county with a little more than half of them being lake area homes. The activity is typical for this time of year and has slowed down in the past couple of months.
Twenty-two lake area homes sold last month for an average price of around $351,000. While this is down from last year at this time when the average was $510,000, the number of units are up from only 10 homes sold last year. Continue reading March 2018 Deep Creek Lake Real Estate Update
Check out our 5 Tips to Sell Your Home this Spring to get a leg up on the competition. Set yourself up for success during this busy buying and selling season!
hire a realtor
First and foremost, you should partner with a real estate professional. Look for someone who is a full-time agent. They will know the local market. Your agent can also do the heavy lifting when it comes to negotiating with buyers.
Ask them about their marketing strategy for your listing. You want it to appear on all of the major sites like Zillow, Trulia, etc. Be sure your home will be professionally photographed as well. If your home doesn’t show well in the photos, buyers won’t want to see it in person. You can ask to see examples of their print or online advertising for past listings. Social media should be part of their marketing strategy as well.
make sure the price is right
Setting the right price is a big determining factor in how quickly your home will sell. This is where a good sales agent can really help you out. They will help you set an appropriate, realistic price for your location. Overpriced homes might sit on the market for a long time. That could scare away potential buyers. Sometimes, the assumption is made that something is wrong with the house if it is an old listing. Continue reading 5 Tips to Sell Your Home this Spring
Old Punxsutawney Phil said 6 more weeks of winter. He might be right this time, because someone has been shaking the snow globe here at the lake. We have had over 80+ inches for this winter!
Deep Creek Real estate Buyers tip
Low housing inventories begin to put the sellers in the driver’s seat. When the right property comes along, be prepared to make a decision fast. A good agent will be able to help you with preparation and finding the right house. Contact one of our agents today to get that process started. Continue reading February 2018 Deep Creek Real Estate Update
Buying lakefront real estate is a different experience than buying an ordinary home in a typical neighborhood. When you buy lakefront real estate at Deep Creek, you are also buying a way of life.
Buyers frequently ask our agents about lakefront real estate. Our experts point out all of the differences and things to be aware of. Here are some of their best tips to get you started on your Deep Creek Lake real estate search.
Secure Financing Early
Figure out your financing early on in the process. Unless you are paying in cash, you will need to obtain a mortgage. Getting pre-approved is key when buying a lakefront home. Lakefront home sellers are often advised by their agent to only accept an offer from a pre-approved buyer. Continue reading Tips for Buying Lakefront Real Estate at Deep Creek
Buying a home in the winter has its pros and cons. In this article, I’ll explain both sides to help you make an informed decision when you are browsing Deep Creek Lake real estate.
Some people to think that the summer is the best time to buy or sell. A ski in/ski out townhome might not have any issues selling in the winter. Meanwhile, a lakefront home at Deep Creek Lake may have more appeal in the summer. It depends on the specifics of the deal.
Pros of Buying a Home in the Winter
Motivated sellers. Agents often advise clients to wait until the spring to list their home. A seller who lists in winter likely really needs to sell. This can work to a buyer’s advantage. It can give you leverage when negotiating the price.
Less competition from other buyers. With fewer people shopping for homes, you may be able to take more time putting in your offer. During the summer, you might feel more rushed to make your decision. Continue reading Pros & Cons: Buying A Home In the Winter
December 2017 Deep Creek Lake Real Estate Statistics
The lake maybe frozen over right now, but it was hot last year! The county showed 32% sales volume increase in total sales over last year. The lake area sales were up 44% over last year. That tells me buyers are getting comfortable with the economy and ready to spend. The market was showing mixed signs with listings. It was neither a seller’s market or a buyer’s market. Each property was different. Some properties sold less than list price, some at list price, some over and we even had multiple offers on listings with escalation clauses. Things have slowed down since the snow has been falling, but things are simmering and getting ready to boil over for strong spring market.
Continue reading December 2017 Deep Creek Lake Real Estate Statistics
Everyone at Taylor-Made Deep Creek Vacations & Sales was excited to see two of our homes on HGTV recently!
The popular network launched a new series called “Lake House Hunters“. In the very first episode, the Deep Creek Lake area was featured. One of our agents and a co-owner of our real estate company, Jay Ferguson, helped the DuPlessis Family find their dream home.
About the Show
If you’re not familiar with the House Hunters format, buyers tour three properties and choose the right one for their needs and budget. A real estate agent guides them through the process.
The DuPlessis Family was looking for lakefront homes with great outdoor space. They also wanted something that would work well for their growing, active family.
About the Homes
The first home they toured was Lake Escape. Amazing lake and ski slope views are a highlight of this property and make it a popular spot for Deep Creek vacations.
It offers 5 bedrooms and 4.5 baths. The spacious interior gives families lots of room to spread out. Outside, you can grill on the expansive deck or lounge on the private dock. Check availability at Lake Escape. Continue reading Deep Creek Vacations – As Seen on HGTV!
See Deep Creek Lake on HGTV as Jay Ferguson, Broker & Co-Owner of the real estate division, helps buyers choose the perfect Deep Creek Lake home!
Deep Creek Lake on HGTV
Jay was chosen to be featured on HGTV’s brand new series “Lake House Hunters”. It is a spin-off of the wildly popular “House Hunters” series. If you haven’t seen the original show, a real estate agent takes buyers to three different properties that meet their criteria. It gives you an inside glimpse at the decisions and emotions that are part of the home buying process. The show ends with them choosing the right home to meets their needs.
Premiering January 1, 2018 at 6PM EST (check local listings to confirm), the Deep Creek Lake episode follows Ferguson and the Du Plessis family as they search for a lakefront property at Deep Creek Lake. Continue reading Check Out Taylor-Made’s Jay Ferguson & Deep Creek Lake on HGTV!
Deep Creek Vacation Rental Market Update
For Taylor-Made owners, the Deep Creek Lake vacation rental market is experiencing an excellent first quarter for the 2018 fiscal year. It has been exciting to see the growth in the variety of vacation rentals available to vacationers in recent years.
Summer is always a popular time to visit, and our occupancy levels were 39% more than in 2016. Fall travel to the area is also on the rise. By mid summer, our September 2017 reservations were already 9% ahead of last year, and we finished that month with an overall 14% increase in stays.
Aggressive marketing, that includes distribution of Taylor-Made homes on Booking.com and Air BNB, coupled with the post-Labor Day start for Maryland schools contributed to driving more reservations during this time.
Because of the later start for MD schools, we tested out extending prime summer season rates by one week. There was no negative impact, so we will continue with this to maximize owner revenue.
Over the years, we have shifted our focus to more online channels. They are more easily trackable. That gives us a better idea of where marketing dollars are best spent in order to benefit our home owners.
“We appreciate all of your efforts to market our property Ski Shore. 2017 has had the highest rental income we have had in 19 years.” ~ Ski Shore Owners
Continue reading Deep Creek Vacation Rental Market Update