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

What’s New at Deep Creek Lake – 2019 Edition

 

new at deep creek lake

Discover what’s new at Deep Creek Lake! We have started compiling our 2019 list of new businesses in the Deep Creek Lake area. Check back often for updates!

The next time you are in town, stop by one of these fine establishments:

Deep Creek Axe Throwing Company
Open year round, this is a fun way to test your aim! It is kind of like playing darts but with axes! Located at Monkey Business Adventure Park, it is available to ages eight and up.

Deep Creek Water Trampolines
If your staying at one of our homes with a private dock, you can have your own private water trampoline that will keep the kids smiling for ours! It is a great addition to your lakefront activities. Give them a call at 301-501-5195 to make reservations and schedule delivery!

Sipside Lounge
Located in Oakland’s historic downtown, Sipside serves up classic cocktails, craft beers and fine wines. Live weekend entertainment and a cool atmosphere make it a great spot to hang-out with friends.

Roots Yoga
Centrally located at the Fort in McHenry, you will find everything from restorative to high intensity classes, women’s gatherings, blacklight yoga, dance, and a variety of other wellness workshops!

If you haven’t made your vacation plans, search now for the best summer selection.  Don’t miss out!

Deep Creek Lake Summer Road Trip – Less Than 3 Hours from Baltimore & DC!

A Deep Creek Lake summer road trip is the perfect opportunity to escape to the mountains for a little R&R. It is a getaway that is less than 3 hours from Baltimore and Washington, DC and less than 2 hours from Pittsburgh. The convenient location, natural beauty and abundant recreation make it the ideal destination for a long weekend away.

Deep Creek Lake Summer Road Trip

Deep Creek Lake Summer Road Trip Savings

We are offering a FREE summer night when you plan a trip arriving now through August 23, 2019. You can use the money you save to treat your family to fun activities or great food at local restaurants.

The offer includes:

– Stay 3 nights, get the 4th night FREE*

– A $25 gift card for Smiley’s Pizzeria will be at the home when you arrive

– Get 1 FREE Deep Creek Adventure Package per child Continue reading Deep Creek Lake Summer Road Trip – Less Than 3 Hours from Baltimore & DC!

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

The Perfect Deep Creek Lake Memorial Day Getaway

Plan the perfect Deep Creek Lake Memorial Day getaway for your crew! The holiday weekend is the ideal time to enjoy a little R&R at the lake. You can kick-off the unofficial start to summer making fun memories with family and friends.

Relaxation Starts at DCL

Treat yourself to some rest and relaxation with your feet up as you enjoy views of Deep Creek Lake. We have the best selection of homes with top-of-the-line amenities and convenient locations. It is easy to de-stress at one of our beautiful Deep Creek Lake vacation rentals.

Smaller groups might want to consider staying in a townhome community. Many of them have shared amenities like indoor pools, tennis courts and lake access areas.

deep creek lake memorial day getaway

If you are looking for something on a larger scale, we have that too. Our homes range from 1-10 bedrooms. There are options that meet just about every need so that you are completely comfortable. Continue reading The Perfect Deep Creek Lake Memorial Day Getaway