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

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

Market Update: Deep Creek Lake Homes for Sale

Get the scoop on Deep Creek Lake homes for sale and the state of the real estate market for July 2018!

Taylor-Made agents had twenty-nine transactions last month for a total of $8.4 million. Twelve of them were sold within three weeks with a total average just over three months on the market.

Deep Creek Lake homes for sale

Buyer Tips: With the end of summer and the start of the school year in sight, the number of buyers begin to thin out. It is a good time to find your perfect home without competing offers.   

Seller Tips: It has been a rainy summer. Make sure you check all of your downspouts and water drainage. Puddling water can seep into basements causing mold.

More Info on Deep Creek Lake Homes for Sale

Whether you are buying or selling, contact one of our agents for more info on Deep Creek Lake homes for sale. You can also browse area listings online to start the search for your dream home!

Top 5 Tips to Increase Your Home Value

You can increase your home value no matter what your budget. If you are thinking of selling, little upgrades can mean a lot to buyers. You should focus your efforts (and your dollars) on tasks that pack the biggest punch.

Our real estate team put together a list of some proven ways to increase your home value. To be sure you spend appropriately for your target market, it is always recommended that you speak with an agent before getting started.

Increase Your Home Value

Kitchens Count

Buyers have always been focused on kitchens, and most are looking for something that is modern/updated. You don’t necessarily need a total overhaul. Even small investments can increase your home value.

Go for a fresh, coordinated look with new suite of appliances and a new countertop and flooring. Paint walls or cabinets and update hardware too. “Stainless steel” isn’t new but still indicates “modern” in the mind of the buyer. Also, quartz countertops are becoming increasingly popular due to their resiliency.

Focus on Floorplans

Adding to the living space in your home can definitely boost value. Many buyers are looking for either an open layout or flexible spaces that can suit a variety of purposes. Continue reading Top 5 Tips to Increase Your Home Value

April 2018 Real Estate Update

 

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. 

Deep Creek Lake Real Estate

Buyer Tip

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

March 2018 Deep Creek Lake 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.

deep creek lake real estate update

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

5 Tips to Sell Your Home this Spring

 

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!

 

5 tips to sell your home this spring

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

February 2018 Deep Creek Real Estate Update

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

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

Tips for Buying Lakefront Real Estate at Deep Creek

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.

lakefront real estate

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

Pros & Cons: Buying A Home In the Winter

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.

Buying A Home In the Winter

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