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.
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
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.
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
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
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
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
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
Your Deep Creek event update for late summer includes fun festivals and great events that are being held throughout the area. Check out last minute vacation specials, and head to Deep Creek Lake. It is a great time to have some fun while you are touring Deep Creek homes for sale.
Free concerts at Wisp Resort continue every Wednesday through August 30th. Bring a blanket or some chairs, and be there at 6:30.
Tunes & Brews
September 2, 1-7PM
Enjoy great live music and craft brews at Wisp Resort. Continue reading Your Deep Creek Event Update for Late Summer
Kendall Camp is a mountaintop community that is an ideal spot for your next getaway no matter what the season.
Highlighted by big timber construction with stone accents, these towhomes give a true alpine vibe as soon as you pull through the gate. They offer 4-5 bedrooms, open floor plans, fireplaces and plenty of square footage for your family and friends.
Within a short walk, whitewater thrills are waiting for you at the Adventure Sports Center International (ASCI). The man-made recirculating course is the only one of its kind in the world. Guided rafting trips are available, and experienced paddlers with their own equipment can purchase passes to head out on their own. You can even try River Boarding – where, after a little instruction, you can swim in the rapids with a modified boogie board and fins.
Continue reading Deep Creek Lake Community Spotlight: Kendall Camp
Jump in! The water is great and so is the Deep Creek real estate market! Agents are putting on more miles driving buyers around this year than last. June sales were down some from the previous month, but the showings haven’t slowed down. Location, presentation and price are all still king in this real estate market. Lake area sales are up this year by 57% county wide.
Continue reading Deep Creek Real Estate Market Update for July 2017