This homeowner’s tax reform quick guide will focus on the biggest real estate oriented tax polices that were recently enacted. The new tax law is known as the Tax Cuts and Jobs Act. It may change how buyers see homeownership incentives.
Here is a brief rundown of some of the most noteworthy real estate-related tax policies and how they may affect homeowners.
New SALT Deduction Limit
SALT stands for “state and local taxes”. In the past, taxpayers could deduct what they pay in state and local property, income, and sales taxes from their federal returns. It was unlimited. The new law caps any combination of these deductions at $10,000. Continue reading Homeowner’s Tax Reform Quick Guide
Monkey Business Adventure Park at Deep Creek Lake opened for business in September 2017. It offers ziplines and aerial obstacles for almost every member of the family. Also, it is operated by the same folks that own Splash Island, fun for all ages is guaranteed!
Open year round (weather permitting), Monkey Business Adventure Park is a fantastic addition to the Deep Creek Lake area. You can ride on ziplines and tackle aerial challenges with lake views in the background.Continue reading Monkey Business Adventure Park Deep Creek Lake
Wisp Resort opening day is December 15! There is literally a buzz in the air that is the sound of their snowmakers. Their crew is taking full advantage of the cold temperatures.
WISP RESORT opening day excitement
Wisp Resort opening day signals the unofficial beginning of winter season at Deep Creek. As a lifelong resident of the area, I grew up skiing and snowboarding at Wisp. It is just one of the recreational opportunities that enriches life at Deep Creek Lake. Spending time on the mountain with family and friends is a favorite way to make memories.
About wisp resort
The mountain has an elevation of 3,115 ft at the summit. There are 32 slopes covering 172 acres with a vertical drop of 700 ft. There is something for every skier’s ability level: 35% beginner; 38% intermediate, 27% expert. Continue reading Wisp Resort Opening Day Announced!
Home winterization is on the minds of many of my sellers in the Deep Creek Lake are this time of year. I put together my top tips for home winterization to be sure you are ready when Old Man Winter knocks at the door.
prevent frozen pipes
Home winterization starts with protecting your pipes and water system. Avoid costly water damage that can occur from freezing pipes. A plumber will check everything and get it ready it for cold temperatures. Water should be drained from places where it is stored, like water heaters and hot tubs.
Once the water is drained, you won’t need to keep the heat turned up. Your pipes are safe and you will have lower utility costs.
check the gutters for leaks & debris
If water collects and freezes, your gutters could be damaged. The weight can pull them off of the house. Also, this could cause water to collect around your foundation. Most home owners know, that is never a good thing. Clean them out and seal up any leaks that you find. Continue reading Home Winterization Tips for Deep Creek Home Sales
Deep Creek Lake Real Estate market update for November 2017:
Your Deep Creek Lake real estate update gives you a snapshot of both Garrett County stats as well as the state of Maryland for comparison.
Residential home sales in Maryland rose by 2.5 percent over 2016. That indicates a steady fall market, according to the Maryland REALTORS. For the fifth month in a row, there were steady increases. The average and median home prices rose by 1.7% and 2.6% percent respectively, as compared to the same time in 2016.
“We are encouraged by the reversal from last month, as seen in the modest climb in home sales.” said Maryland REALTORS President, Boyd Campbell. “More importantly, there has been a 4.9 percent increase in homes under contract or pending units,” Campbell added. “This heralds more active home sales through the end of the year.”Continue reading Deep Creek Lake Real Estate Market Update for November 2017
Betsy Spiker Holcomb Deep Creek Lakes Favorite RealtorTen Steps To A Successful Settlement- Deep Creek Lake Real Estate
I have spent my career making sure my clients are educated on all the complexities that arise during the purchase of a home. After my team of buyer agents find the perfect home for their clients, our work toward a successful settlement really begins. As a selling agent for over the last 12 years, I have prepared and taught my team the necessary steps to ensure a smooth home buying experience. Here are some basic guidelines to ensure a successful settlement.
Ten Steps To A Successful Settlement
1.) Get pre-approved by a reputable lender.
2.)Compare your housing desires with what you can afford to begin the process of locating a home that meets your needs and means.
3.)Consider the state of the market your shopping in and decide when the right time to buy is.
4.) Once you have identified the best property to buy and you are ready to move forward with the bid/contract process, ask your experienced buyer specialist to walk you through your responsibilities and your potential need for expert tax & legal advice.
5.)Contact your lender immediately after the contract is fully executed. A reasonable commitment date is 30 days from contract acceptance.
6.) Be sure to follow-up with your lender to make sure they are providing all necessary paperwork required to render a final loan. Ascertain that an appraisal has been ordered and the date scheduled.
7.)Check with your real estate agent to make sure they are providing the appraiser current comps to validate the price of the property.
8.) A good real estate agent will communicate with your lender every couple of days to ensure all elements of the loan process are in order and proceeding in accordance with the contract commitment date.
9.) After receiving formal loan commitment, coordinate with the lender or real estate agent to make certain any and all underwriting conditions have been satisfied and nothing further is needed from you.
10.) When you receive final loan commitment from your lender, select your title company and schedule the settlement date. Remember that you must have a home owner’s insurance policy prior to settlement.
Ten Steps To A Successful Settlement- Deep Creek Lake Real Estate
Betsy Spiker Holcomb Deep Creek Lakes Favorite RealtorReflecting On The Winter Deep Creek Lake
Today, I reflect on a wonderful winter that I’ve had here at Deep Creek Lake and all the wonderful adventures that came my way. I finally put down my old-school 10-year old parallel skis and stepped into a set of modern shape skis and had a go on perfect powder at Wisp Resort. I can’t believe that I went this long without experiencing the amazing engineering and control that this has brought to my skiing. As always, Devils Drop is my go-to slope when I want to carve through the trees and experience that “out west” feeling that Wisp can give you in certain areas of the mountain.
I have also had a lot of “first time” experiences this winter which has me buzzing more than my norm with excitement over other winter activities. Since I was a very young girl, I have always loved ice skating and thankfully I had the opportunity to put the skates on again at Wisp’s Ice Rink this winter. I felt exhilarated gliding across the ice with a bonfire roaring along the outside of the ice rink and dozens of people sharing the experience.
Make no mistake about it; my absolute new favorite sport is snowmobiling! For years I have heard from my local friends how they routinely drive their “sleds” across the lake; the safety net in my mind always spoke to me when I would hear this wondering “if these folks were a little short of common sense?!” The old question, “Why would you jump out of a perfectly good plane?” comes to mind as I contemplate driving over frozen Deep Creek Lake waters. I mean, there are plenty of trails around the county on perfectly solid ground that would serve as a safer outlet for me and this sport. The fact is that the lake is impeccably safe after it gets 6+ inches of ice buildup and it’s strong as solid ground when it gets 15+ inches, as it was when I when crossed it for the first time. I’ll never forget the rush of just casting aside my fears and hitting the throttle wide open launching straight across the center of the lake. The change in perspective in viewing the lake in the winter from the middle looking inward while racing at 100mph is something you have to experience to understand. It’s cool because you can cover 60-70 miles around the lake in a very small amount of time and the sights you see are some that many life-long residents have never and will never see. I urge you to put it on your list of things to experience here in Garrett County.
I feel fortunate every morning I wake up and relish every experience that is available throughout all the wonderful seasons we are blessed with here.
Betsy Spiker Holcomb Deep Creek Lakes Favorite RealtorDeep Creek Lake-Garrett County History
A Little Deep Creek Lake Garrett County History
Deep Creek Lake-Garrett County History. Long before Deep Creek Lake came into existence it had plenty of history pre-dating the area as we know it now. Native American artifacts uncover that many tribes like the Cherokee, Delaware (Lanape), and Shawnee have extensive history here in Western Maryland. The Mingo Tribe were indigenous people to the area who annually returned to mountaintops to hunt, fish, plant crops, and trade. There is evidence left from floods through the Potomac River Valley that indicate that some villages have been in existence for over 2000 years.
The first known permanent resident /settler of the Garrett County area was John Friend Sr., who came from the Colony of Virginia with his brother Andrew and son Gabriel in 1762. Eventually they ended up at an Indian village along the Youghiogheny River, which now bears the family name, Friendsville.
In 1872, they divided Allegheny County and formed Garrett County, which was the last County to be formed in Maryland. The county was named after railroad executive, industrialist, and financier John Work Garrett who served as president of the Baltimore and Ohio Railroad from 1858-1884. An interesting fact to note is that the Maryland-Pennsylvania line was surveyed and marked by astronomer Charles Mason and surveyor Jeremiah Dixon. This famous dividing point became known as the Mason Dixon Line, which symbolized the cultural boundary between the Northern and Southern United States, Garrett County representing the South.
In 1806, President Thomas Jefferson signed a bill from the United States Congress setting aside money for building the National Railroad. This was to be the first federally constructed highway in the nation stretching from Cumberland, Maryland to Wheeling, West Virginia. As Americans, we all are very fortunate to live in the greatest country in the world that possesses abundant history and keeps us grounded on where we have been and where we are going in life.
Betsy Spiker Holcomb Deep Creek Lakes Favorite RealtorSpring thaw at Muddy Creek Falls
Spring Warm Up-Swallow Falls-Deep Creek Lake
Spring Warm Up-Swallow Falls-Deep Creek Lake. Last week, Deep Creek Lake and the rest of the East Coast saw a huge spike in temperatures which put an end to the activities on our frozen lake. The spring thaw at Swallow Falls State Park can be a very spectacular thing to witness after such a warm up. For the moment, the ice fishermen have cleaned up their gear and are reflecting on the wonderful moments that were had during this stellar winter season on the ice. The snowmobiles are all cleaned up and are being stored in their trailers or garages. This year’s week long surge in temperatures really accelerated the major spring thaw that by Friday 2/19/11 had the rivers and streams flexing with power that is hard to comprehend. My husband and I were at Swallow Falls State Park witnessing this quantum power when believe it or not a kayaker came barreling through the falls at mach speed. Unfortunately, we did not get a photo of this exciting experience as it happened so fast. The spring thaw is a really a fun event to witness when you are here at DCL. Don’t fret if you missed the start of it last week. The water has already cleaned up, and there are some spectacular sites to be witnessed over the next couple of months as we ease into spring. Take a moment to witness the relaxing sites and sounds of the water and streams here at Deep Creek Lake.
Spring thaw Swallow Falls State ParkTolliver Falls spring thawThe Spring Thaw-Swallow Falls-Deep Creek Lake
Betsy Spiker Holcomb Deep Creek Lakes Favorite RealtorSnowmobile Drag Races Deep Creek Lake
Snowmobile Drag Races Deep Creek Lake
Let’s get ready to RUMBLE! Leave the boxing gloves at home this weekend, fuel up your snowmobile and head on down to the big drag races this Saturday February 12th, 2011. This weekend the crowd will be at Harvey’s Farm, 2482 Sandflat Road watching the bold and brave flex their ego’s and horsepower at this classic Garrett County event. I am bursting with excitement because this is my first sled drag race other than racing my husband Bob for bragging rights on the lake. I’m still on the fence whether I will suit up and represent the ladies in this all day event. Watching my new husband race may be about all the excitement I can stand in one day, personally. I can’t wait to watch the thunder in all the different classes which go from Stock, Super Stock, and Pro Modified. Word is that the big dogs are bringing in their super hot rods that will be thrilling to watch as they can reach some rally insane speeds. Bring your family, and tell your friends about this supercharged winter event.
