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

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

Deep Creek Lake Real Estate News October 2018

 

Deep Creek Lake real estate news October 2018 is positive for the beginning of fall!

Deep Creek Lake Real Estate News October 2018

The leaves may not have changed colors early this year, but the listings statuses have been making a colorful changes. We currently have 22 homes under contract status right now and have put SOLD signs in the yard of 17 homes in past 30 days.  The average sales price was $550,513.  That’s a 25% increase compared to last year! Home inventories are still low giving buyers less competition going into the winter months.

Deep Creek Lake Real Estate News October 2018

Buyers Tip

Ski season is coming up. Start looking at potential investment properties near the slopes before everyone else does. The quieter fall season gives you easier access to properties that are already established vacation rentals.  Continue reading Deep Creek Lake Real Estate News October 2018

Your Deep Creek Lake Real Estate Update for August 2018

Your Deep Creek Lake real estate update for August shows that pending sales are up 9% when compared to last year.

We had 24 homes under contract with an average sales price of $501,566 and heading to close soon.  We had a great summer by helping 50 sellers move on to their next chapter and we had 50 buyers that fulfilled their dream of a new home in Garrett County and Deep Creek.  Our sales volume for the summer topped off at $31.7 million in sales.  We look forward to the cooler weather and all the festivals that come with it.  It will bring in a whole new herd of buyers.

Your Deep Creek Lake Real Estate Update for August 2018

Buyer’s Tip: Ski season is coming up. Start looking at potential investment properties near the slopes before everyone else does. During the quieter fall season, it is easier to access homes that are for sale and also on the vacation rental market.

Seller’s Tip: Fall weather is a upon us bringing leaves and spider webs.  We love the colors of fall — until we need to clean up the leaves. Maintaining curb appeal
becomes a challenge this time of year, but do your best to keep up with it.  You never know when the right buyer will come along.    

Browse Deep Creek Lake homes for sale now!

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!

Deep Creek Real Estate Company has a New Broker!

Taylor-Made’s Deep Creek real estate company is excited to announce that we have a new Broker of Record! Bob Carney, Sales Manager, recently obtained his brokers license!

Deep Creek Real Estate Company
Jay Ferguson, Taylor-Made Co-Owner, Congratulates Bob Carney the New Broker of Record

In order to earn this designation, Carney successfully completed the required educational hours and the exam as outlined by the Maryland Real Estate Commission.

Deep Creek Real Estate Company Background

Taylor-Made co-owner and sales agent, Jay Ferguson, previously held this role since 2014 when the real estate division was originally launched. The company has grown rapidly in four short years, and he is pleased to pass the torch to Bob so that he can fully focus on his strengths – real estate sales and serving Deep Creek Lake area buyers and sellers. Continue reading Deep Creek Real Estate Company has a New Broker!

Jay Ferguson – Garrett County 2018 REALTOR® of the Year

Jay Ferguson Garrett County 2018 REALTOR® of the Year!
Jay Ferguson named 2018 Garrett County REALTOR®️ of the Year!

Congratulations to Taylor-Made Deep Creek Vacations & Sales co-owner, broker of record, and top producing real estate professional, Jay Ferguson! Jay has been named the 2018 REALTOR®️ of the Year by Garret County Board of REALTORS®️ in a unanimous vote from the GCBR Board of Directors.

About Jay Ferguson Garrett County 2018 REALTOR® of the Year

For over 18 years, Jay has been striving to provide a fresh approach for his clients. In his first full year in the business, he was honored as “Rookie of the Year”. Throughout his career he has received many other well-deserved awards and designations.

Jay Ferguson, GC REALTOR®️ of the Year!
Jay Ferguson, GC REALTOR®️ of the Year, with his wife Jessica and their children Kayleah and Noah

Jay lives locally with his family; his wife Jessica and their two children Kayleah and Noah. He and his family all proudly serve the community through activities and participation of the ministries and efforts of their church, Loch Lynn Church of God. He is a Garrett County native who chose a career in real estate because of his knowledge of ,and passion for, his beautiful home. Ferguson on being named Garrett County 2018 REALTOR® of the Year: “I am truly honored to receive this prestigious award. It’s a big deal to be selected by my peers in the real estate industry. I’ve been in the business for 18+ years and I have witnessed many deserving people win this award. I am beyond blessed and very excited to be among them.” Continue reading Jay Ferguson – Garrett County 2018 REALTOR® of the Year

May 2018 Real Estate Update

Real estate activity at Deep Creek Lake is heating up with the warmer spring temperatures. We are seeing positive signs of a seller’s market in the making! 

May 2018 Real Estate Update

Out of the 200 active lake area homes, 17 of them sold in the last month. And better news, the average sales price to average list price was only a 5% difference.  In other words, the offer price is getting closer to the listing price. Historically, that number has been around 8-12%. The average days on market for these homes was about three months. As we get into the summer months, I will take a guess that timeframe will get shorter.

Real Estate Update

Location, presentation and price are still the key factors in any real estate transaction. You have location nailed. Deep Creek Lake is the place to be.  Continue reading May 2018 Real Estate Update