Here’s a brief overview of the Deep Creek Lake real estate market as of August 14, 2023.
Here’s an overview of the local market as of July 26, 2023.
Property sales in Garrett County are stable, and the market is still thriving. You can see from the graphic below representing the past 2 years that we’ve tapered off slightly but remember that we were in a very robust market for a good portion of this time.
Continue reading Deep Creek Lake Real Estate Update July 2023Spring is a great time of year to sell your Deep Creek Lake home. The weather is mild, the flowers are in bloom, and buyers are on the hunt for their dream home. But before you put your home on the market, there are a few things you need to do to ensure it is in top shape.
Check your smoke alarms. First and foremost, make sure your smoke alarms are in working order. This is a crucial safety feature that should not be overlooked. Test each smoke alarm in your home and replace the batteries if needed.
Clean out your dryer vent. Over time, dryer vents can become clogged with lint, which can pose a fire hazard. Make sure to clean out your dryer vent before putting your home on the market. You can do this yourself or hire a professional.
Replace filters. Replace the air filters in your home, including those for your furnace and air conditioning unit. This will help improve the air quality in your home and ensure your HVAC system is running efficiently.
Check pipes for leaks. Inspect all of the pipes in your home for leaks. If you find any leaks, be sure to fix them before showing your home to potential buyers. A leaky pipe can turn off buyers and make them wonder what other hidden problems your home may have.
Wash interior and exterior windows. Clean windows can make a big difference in the overall appearance of your home. Take the time to wash both the interior and exterior of your windows to give your home a fresh and bright look.
Continue reading Top Tips to Prepare Your Home for Spring1544 Stockslager Road is one of my newest listings at Deep Creek Lake. It presents an incredible opportunity to own lake front property. The setting is truly picturesque.
A true highlight of this home is the waterfront. It boasts a sprawling 192′ of lakefront that you can enjoy with family and friends. Plus, it has a private dock in a quiet spot that is ideal for swimming and fishing. The Stockslager Community features a 2 mile walking trail that winds along the lakefront.
Continue reading 1544 Stockslager Road – New Listing at Deep Creek Lake34 Carmel Lane is a gorgeous lakefront home that was just listed at Deep Creek Lake. It is my pleasure to share the details of such a well-kept property.
Located in the Carmel Cove community, 34 Carmel Lane includes 5 bedrooms and 3.5 baths.
The spacious interior has three levels of living space. Granite countertops and a large center island highlight the well-planned kitchen. The open floor plan is ideal for entertaining family and friends. Numerous windows bring in beautiful Deep Creek Lake views in nearly every room.
Continue reading 34 Carmel Lane – New Listing in Swanton, MD248 Markwood Drive was just listed! This is a truly stunning property that offers you a piece of paradise. It is within minutes from Deep Creek Lake and downtown Oakland.
Situated on 14.18 acres, this location is picturesque from the moment you pull in the driveway. It is surrounded by state forest land and overlooks a private community lake.
The beautiful brick home has four bedrooms along with two full and two half baths. It has been immaculately kept inside and out. The light-filled open floor plan is ideal for spending time with family. You will love the large kitchen with a center island.
Continue reading 248 Markwood Drive: New Lising in Oakland, MD244 Moonrise Drive is a spectacular new listing at Deep Creek Lake! This stunning lakefront home has all the bells and whistles. Plus, it was designed with vacation rental success in mind.
Offer six bedrooms and five and a half baths, this spacious chalet is located in the popular Waterfront Greens community. It has 150 feet of lakefront for your enjoyment. That includes a maintained path leading to the water and kayak racks.
The focal point of the outdoor living space is the private outdoor pool. It is easy to imagine splashing and playing with family and friends. There is also an expansive deck, a hot tub, a horseshoe pit, and a fire pit.
Inside, the spacious interior has an open floor plan on the main level. The great room is highlighted by a floor-to-ceiling stone fireplace and a wall of windows. The kitchen has recent updates that include granite counters. There is new LVT flooring throughout the main and lower level living areas as well.
Continue reading 244 Moonrise Drive: New Listing at Deep Creek LakeTax benefits should be considered if you are thinking about buying a second home at Deep Creek Lake. I put together a list of a few tax breaks, but you should always consult a tax professional for verification of specific terms and tax benefits since every situation is unique.
1.) Mortgage Interest is deductible up to $750,000 in combined total mortgages.
2.) Home Improvements – you can deduct interest on a home equity or line of credit (there will be limits).
3.) You can deduct your second home property taxes up to $10,000/year for all state and local taxes.
4.) If you rent for 14 days or less over the course of the year, that rental income is tax free with no limit on what you can charge.
Continue reading Tax Benefits for Second Home Owners
Right now, it is a seller’s market at Deep Creek Lake. What exactly does that mean? Here’s how Rocket Mortgage defines it: “A seller’s market arises when demand exceeds supply. In other words, there are many interested buyers, but the real estate inventory is low. Since there are fewer homes available, sellers are at an advantage. In a seller’s market, homes sell faster, and buyers must compete with each other in order to score a property.”
The pandemic created a surge in interest in the lake and mountain lifestyle. Our area is rural in nature with a lower population density. This makes social distancing easier. Also, more and more people are able to work remotely. Even after the pandemic subsides, remote will likely remain as a preferred work style.
This high demand is being met with historically low inventory. Right now, available lake area homes are very limited. Offers are being made sight unseen, and we are also seeing multiple offer situations.
If you are interested in Deep Creek Lake homes for sale, there are a few things you can do to better position yourself in a seller’s market.
Get Pre-approved
Give the seller confidence that you are a qualified and motivated buyer. Getting pre-approved verifies your ability to afford a home loan for a specific amount. It shows financial security and gives the seller peace of mind that the sale will go smoothly.
Hire an Experienced Real Estate Agent
As your agent, I can give you a serious advantage when buying a home in a competitive market. With more than twenty years of experience, I have a proven track record in Deep Creek Lake real estate. I hear about listings as soon as they hit the market. In a seller’s market, things happen fast. I will keep you informed at all times.
Act Fast
In a seller’s market, a new listing can be snatched up within hours. That means you can’t always wait for a weekend showing. Whenever possible, make yourself available for showings. As your agent, I can also show you a listing via Facetime.
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