Tuesday, July 31, 2012

Keeping emotions out of your Deep Creek Lake area real estate sale

For whatever reason, you've decided it is time to sell your Deep Creek Lake area real estate. Congratulations on moving onto a new era in your life! Be aware, however, that is in your best interest make sure your emotions are thoroughly out of the way while embarking on the house selling process. The fewer emotions involved in the sale of your Deep Creek Lake area real estate, the smoother and more quickly the process will go. Here are five tips on keeping your emotions out of your house sale:

1. Call it a "house"
For years now you have probably been calling your Deep Creek Lake area real estate a "home" (or a "vacation home," depending on your situation). Now that you are selling it, it's time to refer to it as a house. "House" signifies the physical structure without implying any level of familiarity, or bringing up all of the memories you have attached to the place. Changing how you speak will help solidify in your mind the idea that this is an object you are selling, not something that you continue to have an emotional connection with.

2. Move your personal items into storage
Your emotions and memories will continue to be wrapped up in your house if it still looks like your home. As soon as you put your house on the market, go ahead and depersonalize it by moving many of your items to storage. This involves taking down framed family photos, the kids' artwork on bulletin boards or the refrigerator, and books, magazines, and DVDs. Doing this has an added benefit--potential home buyers are actually more attracted to homes that are clutter-free and decorated neutrally.

3. Skip the open house
At open houses, potential home buyers walk around looking at the place with a critical eye. Do you honestly want to hear them lament how ugly the carpeting is, when you have fond memories of hand-picking that color? Will it raise negative feelings if they discuss tearing down a wall that you can recall building yourself? It's best to hire a professional and stay away from the open house and initial showings. This also makes home buyers feel more comfortable to talk freely.

4. Use data to set your listing price
Setting your listing price might be one of the most difficult parts of your house sale. Many sellers have a tendency to think about how much they paid for the house and then all of the money and time they put into it over the years, plus how much they feel it should be worth. Unfortunately, none of this matters. Find data from recent months showing how much other nearby houses sold for. This will give you your ballpark. Your house listing price should be based on the size of your house, your location, and the current market. That's about it.

5. Stay out of negotiations
You know the professional who handled your open house and showings? Let him (or her) handle the negotiation process as well. Home buyers negotiate because they want to pay as low of a price as possible. That means there might be some low ball offers. Home owners are often upset or offended by low offers, where as professionals deal with them in a much more business-like manner. Who knows, someone who starts off with a low ball offer could end up buying the house! You don't want to lose a potential buyer because your emotions are involved and you become offended at an offer. Let a pro handle it.

These five tips will help you sell your Deep Creek Lake area real estate more easily and without becoming upset during the process. Just keep in mind that this house served you well for many years, and though you will always cherish the memories associated with it, now it is time to move on. If you have any questions about selling, buying, or local real estate in general, do not hesitate to contact me.

Patrick Kane
Sales Manager/Co-Owner
Coldwell Banker Deep Creek Realty
Your Deep Creek Lake Real Estate Expert

Tuesday, July 24, 2012

Experience the Garrett County Agriculture Fair this Weekend!

Living or vacationing on Deep Creek Lake means being surrounded by stunning scenery, a variety of things to do year round and a vibrant community!  Being situated in Garrett County also means that Deep Creek Lake is centrally located to take part in a wide variety of events and attractions throughout the area, and one of the much anticipated events is kicking off this weekend!

If you’ve visited our blog in the past, you know that we love to highlight not only great real estate information and advice, but what’s happening locally as well.  We feel that, whether you choose to live on Deep Creek Lake permanently or just enjoy it as a vacation destination, the lifestyle and community play a large role in how you feel about your home.  Luckily for us all, Deep Creek Lake has a great lifestyle that draws many people each year to its shores.

The Garrett County Agriculture Fair highlights the hard work, lifestyle and sense of fun of those living in the area and is an event you won’t want to miss!  Take a look!

The Garrett County Agriculture Fair

270 Mosser Road, McHenry

Saturday, July 28th - Saturday, August 4th

- Now in it’s 56th year, this annual celebration is one of the few Maryland fairs that has remained true to its agricultural focus.  Each year, the fair attracts over 30,000 visitors and displays over 1,000 vendors!  If you want to experience the culture surrounding Deep Creek Lake, you’ll want to spend some time at the Garrett County Agricultural Fair starting this weekend, July 28th and going through August 4th in McHenry.

Each day, there is a full schedule of events ranging from live music, tractor pulls, farm-to-table cooking demonstrations and square dancing to an array of contests, various 4-H showmanship events, great food and more!  You’ll find there is something for everyone to enjoy, so gather your family, friends and Deep Creek Lake neighbors and head to the fair!  You can view more information and the event schedules for each day on the Garrett County Agricultural Fair website.

We hope you have the opportunity to experience the Garrett County Agriculture Fair!  This is just one of the ways you can get to know the area that surrounds Deep Creek Lake and see what makes living on Deep Creek Lake so unique!

Our team of experienced Deep Creek Lake Real Estate agents here at Coldwell Banker Deep Creek Realty are always available to answer any questions you have about buying a home on Deep Creek Lake.  We would enjoy the opportunity to show you around the area and some of the beautiful homes currently on the market.

We look forward to hearing from you!

Patrick Kane
Sales Manager/Co-Owner
Coldwell Banker Deep Creek Realty
Your Deep Creek Lake Real Estate Expert

Wednesday, July 18, 2012

8 Additional Costs To Be Aware of Before Buying Your Deep Creek Lake Home!

Buying a Deep Creek Lake home is an exciting time as you dream of what your home will look like and the great memories you’ll build in the home!  Whether you’re buying a vacation home or permanent property, the home buying process can seem like a long process as you anticipate spending time on Deep Creek Lake, but it’s worth taking your time to ensure you’re fully satisfied with the home you choose.

One of the things that can be easy to forget in the midst of searching for the right home at the right price are the additional expenses that come with buying a home.  Those who’ve been through the home buying process are familiar with the costs entailed, but it’s good to be reminded that these additional costs will come up whether you’re buying a permanent residence or vacation property.  Take a look!

1. Home Inspection- It is a great idea to hire a professional to inspect a home before you purchase as they can bring your attention to any major or long term issues.  

2. Pest Inspection- Buyers should consider having the wood of the home inspected for termites or other wood-destroying bugs. Although this is an additional expense, it  can save your home from further damage and larger costs.

3. Appraisal Fees- Before a purchase, your home must be inspected by a professional real estate appraiser as this helps lenders determine the amount of money to lend borrowers.

4. Closing Costs- At the final closing meeting in which you sign all documents, you should be prepared to pay closing costs which can be a few thousand dollars. These fees include processing fees, underwriting fees, recording, survey and title insurance fees. Many buyers roll these fees into their offer on the home and can be discussed with the seller and the participating agents.

5. Moving Expenses- Unless you are moving down the street, you will have to be prepared for moving expenses such as renting movers, a moving truck, and any possible shipping costs depending on how far you are moving.

6. Furniture- You may come to realize that in buying a bigger home or a second home, you’ll need to buy more furniture.  While this is an understood expense, it’s one that can be costly and will need to be factored in to buying a home.
7. Utilities- These costs vary from city to city so it’s always good to expect to see a difference in monthly bills when buying a home on Deep Creek Lake.

8. Ongoing maintenance- You may love the thought of a large backyard, but keeping in mind the cost of maintaining your yard or garden. If you are buying a vacation home on Deep Creek Lake, you’ll have to consider buying a second set of tools and equipment for your home.

While you may have already been aware of these hidden costs, it can be easy to push them aside when you’re excited about a home on Deep Creek Lake you’ve fallen in love with.  As Deep Creek Lake Real Estate agents here at Coldwell Banker Deep Creek Realty, we encourage you to take the time to realistically think through these additional costs to ensure you’re 100% prepared for buying your dream home!

Of course, our team of experienced Deep Creek Lake Real Estate agents are here to help answer any questions you have and to guide you through the entire home buying process!

Please feel free to contact us today to begin your Deep Creek Lake home search!

Patrick Kane
Sales Manager/Co-Owner
Coldwell Banker Deep Creek Realty
Your Deep Creek Lake Real Estate Expert

Thursday, July 12, 2012

8 Ways to Improve Your Deep Creek Lake Home’s Appeal

Maybe your home isn’t selling as quickly as you would like.  Maybe you haven’t even put it on the market yet, but your neighbor’s home took a long time to sell so you’re nervous.  Relax!  There are things you can do to improve the curb appeal of your Deep Creek Lake home.  These eight quick tips will help you draw in more home buyers and receive higher offers.

1. Clean up the front yard
- The front yard is the first thing potential buyers see.  If they don’t like it, they might not even view the house!  Move everything unnecessary to the garage or storage.  This includes garden hoses, garbage cans, bicycles, toys, rakes, and more.

2. Modernize the outside- Buyers want reassurance that everything in the house works smoothly and is up-to-date.  One way to convey that before they even walk inside is by having a new, modern-looking mail box and address numbers.

3. Brighten up the place- Sun light makes people happy.  Do whatever you can to let as much natural light in as possible.  This could mean rearranging furniture so nothing blocks the windows or replacing dense, dark shades with light, airy curtains.  Add lamps with white light bulbs to rooms that do not have much natural light.

4. Make rooms look larger- People want spacious rooms so accentuating the space you have is a must.  Paint walls a light color to make rooms look larger.  Remove all items you do not need so each room only has the basics in terms of furniture.  You might love that shelving unit lining the wall, but it makes the living look a lot smaller.

5. Bring the kitchen up-to-date- The kitchen is one of the most important rooms home buyers focus on when considering a home.  A few small improvements such as re-painting the cabinet doors and replacing hardware can instantly update the entire room.

6. Fix the floors- Flooring is important.  In rooms with carpeting, use a professional shampooer to remove any stains and make the carpet fluffier.  In rooms with tile, replace any broken or missing tiles and fix any issues with grout.  Have wooden floors waxed and replace any slats that are broken or loose.

7. Make it smell good- Did you know that retail stores purposely make their stores smell a certain way in order to improve sales?  It’s true!  People are more likely to want to buy when they smell something pleasant.  Bake cookies or light a candle to make your home smell great during the open house.  Make sure to choose a subtle candle, however.  You don’t want to offend those with sensitive noses.

8. Beautify the space
- Plant flowers in the front yard and put a bouquet on the dining room table.  Pick out some attractive throw pillows for the living room couch.  A skilled real estate agent can help you with this.  Small touches make the entire home more aesthetically appealing.

Hopefully these tips help as you’re selling your Deep Creek Lake home.  If you have any questions or would like to enlist professional help, do not hesitate to contact me!

Patrick Kane
Sales Manager/Co-Owner
Coldwell Banker Deep Creek Realty
Your Deep Creek Lake Real Estate Expert

Tuesday, July 10, 2012

Succeed in the Deep Creek Lake Real Estate Market by Determining Your Financial Strategy!

If you’ve been considering buying a home on Deep Creek Lake as either a permanent residence or a vacation getaway; determining your financial strategy is the first step!  As  we’ve seen home prices across the country drop over the past few years, buyers have capitalized on the great opportunity to buy their dream home.  And, while the team here at Coldwell Banker Deep Creek Realty agrees that the low home prices and mortgage rates have been ideal; we always encourage buyers to think beyond the sale price.

Having a solid financial strategy is key to winning in the Deep Creek Lake Real Estate market.  This type of plan will ensure you’re not just successfully buying a home, but setting yourself up for the future.  If you’re hoping to buy a Deep Creek Lake home this summer, think through your financial strategy by asking yourself the following questions:

    - How long do I plan to live in this house?
    - Is this a vacation property I want to rent out?
    - Where do I see myself in five or 10 years?
    - Do I have to or want to make home improvements?
    - Do I want to keep cash on hand for other investments?
    - Can I take financial risks?
    - Do I want to be debt-free?

Once you’ve answered these questions, you can map out where you want to land financially after the home purchase.  If you’re buying a Deep Creek Lake home as an investment or vacation property; determining these answers are especially helpful. Your financial philosophy will help you navigate through the process of getting a mortgage loan and other various options you’ll need to decide when buying your home.  Here are five tips to consider when searching for the right mortgage loan.

1. Shop for the best rates- Look at local banks as well as national lenders for find the best rates.  You may even want to consider working with a mortgage lender.

2. Decide on points- Decide if you’re willing to pay for point to get a lower interest rate, or if you want to take a higher rate in order to keep closing costs down.

3. Combine different loan features- This allows you to feel comfortable with the loan as well as giving you flexibility to achieve your financial goals.

4. Don’t forget about additional costs- When applying for a loan you’ll want to factor in additional costs such as property taxes, insurance and possible homeowner’s association fees.

5. Ask about other loan terms- Oftentimes banks won’t advertise loan terms such as 20 years, but asking about it can ensure you find the right fit for your loan.

As always, we hope these tips give you greater insight into navigating through the Deep Creek Lake Real Estate market.  We are available anytime to answer your questions and provide our clients with the exceptional service they deserve.

Feel free to contact us today to get started with your Deep Creek Lake home search!  We look forward to hearing from you!

Patrick Kane
Sales Manager/Co-Owner
Coldwell Banker Deep Creek Realty
Your Deep Creek Lake Real Estate Expert