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

Tips for Your Deep Creek Lake Family Reunion

Planning your Deep Creek Lake family reunion can be a lot of work. We put together some tips to make the process easier for you. That way, you can put more focus on all of the fun you will have enjoying time with your favorite people.

Tips for Your Deep Creek Lake Family Reunion

Make plans early and pick a date

The earlier you plan your Deep Creek Lake family reunion, the easier it will be to find one large home for everyone or several homes close together. If possible, make your reservations a year in advance. Your chances of getting exactly what you want in term of location and amenities when you reserve well in advance of your arrival date. Summer and winter are our peak season and offer lots of fun opportunities for outdoor recreation. Spring and fall are quieter times of year when you can take advantage of great, low rates.

Some families create a “reunion committee” to help with decision making. You can delegate tasks and make sure all of the details are covered. Google docs can be beneficial for organizing your info.

Continue reading Tips for Your Deep Creek Lake Family Reunion

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

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

Your Deep Creek Real Estate Update

Your Deep Creek real estate update brings good news about the winter market! The snow guns are pumping out the snow on the slopes and buyers are still pumping out contracts. We may have slowed down with showings for the year, but the buyers are serious.

The sales have stayed steady for this time of year with 42 closings in November. The county average sales price was $454,200 and a lake area average of $601,398 is up over last year’s average. The inventory continues to trend down for the winter with 371 active listings for hungry buyers.

your deep creek real estate update

Buyer’s Tip: First time home buyer money is available from the Maryland Home Mortgage program. Contact one of our agents about getting some free money from the state. All of Garrett County is a target area for this program. Continue reading Your Deep Creek Real Estate Update

Upcoming Deep Creek Lake Holiday Events

Deep Creek Lake Holiday EventsUpdated 12/8/2018 Deep Creek Lake holiday events keep things festive in the mountain of Western Maryland throughout late November and early December. If you love unique, local art or are looking for fun kids’ activities, you won’t be disappointed.

It is easy to catch the spirit of the season when you experience fun activities with friends and family. The best way to start is to choose your perfect mountain home – maybe one with a cozy fireplace or bubbling outdoor hot tub – and then plan your trip around one of these favorite Deep Creek Lake holiday events.

FESTIVAL OF TREES GARRETT COUNTY
November 23-24 at the Garrett County Fairgrounds, 10AM-6PM
Benefitting the Dove Center, there are lots of family activities to enjoy. Breakfast with Santa, crafts, face painting, and more will keep the kids entertained. Plus, you can shop for holiday gifts from local artisans and vendors. Beautifully decorated trees are found throughout the exhibit hall, and they are auctioned off at 6PM on Saturday as the grand finale. MORE INFO Continue reading Upcoming Deep Creek Lake Holiday Events