Tuesday, January 29, 2013

5 Reasons to Buy VS. Renting a Deep Creek Lake Home

In working as Deep Creek Lake Real Estate agents here at Coldwell Banker Deep Creek Realty, we are often asked about the buying versus renting debate.  In the past, the economic downturn caused many potential buyers to turn to renting a home on Deep Creek Lake.  Yet, times are changing and with the upswing already visible in 2013; now is a prime time to buy a home on Deep Creek Lake.

For those who find themselves only visiting Deep Creek Lake one week out of the year for a relaxing vacation, renting will make more sense.  But, for those who desire week long vacations and weekend getaways, or those looking to retire and to settle into the Deep Creek Lake lifestyle permanently; buying is the best option.

Here are five reasons you’ll want to buy a Deep Creek Lake home this year as opposed to renting.

1. Predictability- Unlike rent, a fixed mortgage means your monthly payment won’t change.  With inflation, rents oftentimes increase each year and you can get caught with paying more than you imagined.  A fixed mortgage is great in allowing you to determine your yearly budget and stick to it.

2. Energy Efficiency-  From adding insulation, to upgrading your air conditioner or hot water tank; you are in control of the energy efficiency of your home.  Making these bigger changes, that you wouldn’t make in a renting situation, will save you money in the long run and will make you feel better about what you’re doing for the environment.

3. Tax Deductions- While the main tax perk of owning a home is being able to deduct mortgage interest payments, there are other deductions available.  For instance, eligible expenses such as energy efficient improvements, can provide an even greater tax benefit.

4. Customization- This is an important part in making a house feel like a home.  You don’t have to worry about paint colors, what you put on the walls, and even have the freedom to knock out walls to reconfigure a space!  Owning a home means you have endless possibilities to make your Deep Creek Lake home exactly what you envision.

5. Low Interest Rates and Prices- Last but certainly not least, the current home prices and low mortgage rates are a huge advantage of buying a Deep Creek Lake home now. According to real estate site, Trulia, overall rent prices rose by 5% while home prices lowered by .7%.  With the market leaning heavily in the favor of buyers, now is the time to buy!

I hope these five reasons to buy will give you the incentive to move forward with buying a Deep Creek Lake home this year.  As the market continues to improve, home prices will continue to rise, so you’ll want to take advantage of the current Deep Creek Lake Real Estate market.

As always, our team of trusted Deep Creek Lake Real Estate agents are here to help answer any questions you may have about buying a Deep Creek Lake home or the lifestyle that’s offered.

Please feel free to contact us today!

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

Tuesday, January 22, 2013

4 Tips to Help Sell Your Deep Creek Lake Home!

Living or vacationing on Deep Creek Lake is a dream come true for many who have experienced the beauty, serenity and active lifestyle that can be found here in Garrett County Maryland.  Yet, there are some of you who are looking ahead at the new year and realize that you need to sell your Deep Creek Lake home.

It can seem overwhelming at first to think through all that has to be done to put your home on the Deep Creek Real Estate market and get it sold.  However, having an experienced Deep Creek Lake Real Estate agent will help the process run smoothly and efficiently.  You’ll find that with the right agent, and a little work on preparing your home to sell; you’ll get your home sold in no time!

As a Deep Creek Real Estate agent for a number of years, I can assure you that my team here at Coldwell Banker Deep Creek Realty and I will make sure you have all the tools needed for a successful home sale.

In fact, if you are preparing to sell your Deep Creek Lake home, here are just a few easy tips to get started and to help your home appeal to Deep Creek Lake buyers.

1. Update listing photos- If you had your home on the market last year, you’ll want to update your listing photos!  Your Deep Creek Lake Real Estate agent can take care of getting photos of your home that reflect any updates you’ve made or to simply allow your home to appear fresh on the market.  Any buyer who has seen your home online in the past may not realize you had taken your home off the market and it will seem stale.
2. Create a Sensory Experience- Whether you light candles or have freshly baked cookies on the counter, appealing to the senses of taste and smell can immediately make buyers relax and feel comfortable in your home.
3. Highlight Your Outdoor Space- This is an important space for anyone moving to Deep Creek Lake. Buyers want to know they can enjoy the outdoors from the comfort of their own home, so creating a welcoming environment on your patio, deck or yard will allow buyers to envision themselves in the space.
4. Set the Table- Staging your dining room with beautiful place settings can help buyers envision hosting friends and family for dinners in your home.  Chances are buyers will have friends and family visiting for vacations, so it will give them that feeling of gathering with loved ones in the home.
Taking these tips to heart and acting on them will give you some very practical things you can do to help your Deep Creek Lake home sell.  Of course, our team of Deep Creek Lake Real Estate agents will be by your side each step of the way and offer the guidance and advice needed to get your home sold.
Ready to get started?  Please feel free to contact us today!  We look forward to working with you!

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

Tuesday, January 15, 2013

5 Tips to Prepare for Buying a Deep Creek Lake Home in 2013!

The  beginning of a new year is often the time when people considering buying a home on Deep Creek Lake.  Whether it’s a chance to relocate permanently to our beautiful shores, or they envision spending vacations in this scenic and relaxing setting; the fresh start of a year gets people thinking through what the new year will bring.

If you are considering buying a Deep Creek Lake home in 2013, now is a great time to do so!  Recent reports show that the national housing market is continuing the upward swing towards recovery.  The S&P/Case-Schiller Report showed that home prices posted the largest percentage gain in more than two years, with prices up 4.3% in October compared to last year.    

This is great news for those looking to sell this coming year, and gives buyers who were on the fence the encouragement needed to begin their Deep Creek Lake home search now.  With more buyers flooding the market, the competition will be more heated and buyers will need to act quickly. 

Here are just a few ways to prepare for the home buying process.  You’ll want to be sure to have your finances in line before beginning your home search to ensure the entire process runs smoothly.  

1. Saving & Paying off Debt- This seems like a very basic point, but a very essential one.  The days of “no money down mortgages” are gone and most lenders require at 5% down.  You will also make sure that you have additional money for things like closing costs, as well as money in the bank when all is said and done.  Lenders are becoming more strict and want to know you can back up the purchase of a home.  You’ll want to be sure to have as little debt as possible since lenders will take this into consideration as well. 

2. Building Good Credit- Credit scores are moving to the forefront of being approved for a home loan.  Most lenders are expecting a credit score of 600+ even for FHA loans.  A good credit score will not only help you qualify for a home loan, but can lower your interest rate, which can save you thousands of dollars in the long run.

3. Creating a Home-Buying Budget- If you’ve taken the time to create a home-buying budget chances are you’re serious about buying a home and want to go about it in the best way possible. It’s imperative to establish your budget prior to talking with lenders.  Just because you are approved for a certain amount on the loan, does not mean that’s what you can actually afford.  Lenders don’t take your extended finances into consideration, but will look at your income.  Be sure to stick within your budget, especially when considering a vacation property, to avoid heartache in the future. 

4. Researching Mortgage Options- It’s important to research which type of mortgage is best for your financial situation.  Getting a fixed or adjustable-rate mortgage will depend a lot of your long term goals.  Your Deep Creek Lake Real Estate agent will also be able to help you determine which option is better for you and can walk you through the pros and cons of both.

5. Getting Pre-Approved for a Mortgage- Getting pre-approved before you meet with a lender can save you time and will be a good indicator of any financial issues that need to be addressed.  Things such as credit or income problems are items you want to take care of before trying to get approved for a home loan. Sellers will also take you more seriously if you have your financials in order.  

I hope these tips are helpful as you consider buying a Deep Creek Lake home!  I’m always available to answer any questions and our Coldwell Banker Deep Creek Realty Real Estate agents are standing by!

We look forward to helping you buy the home of your dreams on Deep Creek Lake!

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

Tuesday, January 8, 2013

Experience the Deep Creek Lake Community this Weekend!

One of the best things about living or vacationing on Deep Creek Lake is knowing that there are a number of fun activities to do all year long!  As Deep Creek Lake Real Estate agents here at Coldwell Banker Deep Creek Realty, we always enjoy highlighting the wide variety of things to do for potential buyers.

We understand that when you are looking at buying a vacation home or are considering relocating to a new area, you’re not just looking at finding a great home; you’re looking for a great community!  While there are numerous ways to relax and enjoy Deep Creek Lake’s peaceful setting, there are even more ways to engage within the excellent Deep Creek Lake community.

In fact, if you’re visiting Deep Creek Lake this weekend to check out a few of the beautiful homes currently on the Deep Creek Lake Real Estate market, we’d encourage you to also check out these events!  These are a fantastic way to get a feel for what living or vacationing on Deep Creek Lake would be like and will give you an idea of the great community that is here.  If you’re currently living on Deep Creek Lake and are looking for something fun to do; you won’t want to miss out on these events!

Swallow Falls Backcountry Snowshoeing Tour
All Earth Eco Tours

Saturday, January 12 & Sunday, January 13 at 10am & 3pm 

- Venture through seldom seen areas of Swallow Falls on this guided snowshoeing tour such as the highest waterfalls in Maryland and the old growth Hemlock Forest.  You’ll also see old growth forests, animal tracks, and a visit to the bear denning area (don't worry, they'll be sleeping). This is a great event for photo opportunities and fun!  This is a medium physical effort activity. The group packs a trail and you can follow along and barely sink at all no matter how deep the snow. Warm up with a cup of hot cocoa after enjoying the scenery with family and friends!  Learn more about the tour on the All Earth Eco Tours website

Subaru Master The Mountain
Wisp Resort
Saturday, January 12 & Sunday, January 13, 2013

- The Subaru Master the Mountain team is traveling to Wisp Resort bringing music, giveaways, and free activities for people to enjoy!  During the event, Subaru will offer free mini ski and board lessons with certified instructors. Enjoy hot chocolate and coffee then find out about the latest news and happenings at Subaru. The Subaru Event Team will also be at Wisp Resort for a second Master the Mountain Event on February 9-10. Be sure to stop by the Subaru Igloo and say hello! View more information on the Wisp Resort website.  

Getting a feel for the area that you’re thinking of buying a home in is essential to feeling great about your decision.  Buying a home or vacation home is a large decision, and we can assure you that what you’ll find on Deep Creek Lake is hard to find anywhere else!

If you’d like to learn more about life on Deep Creek Lake or have questions about the current market, please let us know!  We would be happy to guide you through the home buying process on Deep Creek Lake!

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

Wednesday, January 2, 2013

Weather Winter Storms in Your Deep Creek Lake Home with These Tips!

As Deep Creek Lake Real Estate agents here at Coldwell Banker Deep Creek Realty, we hope your new year is off to a great start!  It’s a beautiful time of year on Deep Creek Lake and, whether you live here permanently or Deep Creek Lake is your vacation destination throughout the year; we look forward to another year with you in Garrett County Maryland!

When the snow falls here on Deep Creek Lake, it’s a fun time to get out and enjoy the variety of winter activities.  Yet, the winter storms that may come in the next few months, can also be damaging to your Deep Creek Lake home if you’re not prepared.  One of our goals is to help you enjoy your home on Deep Creek Lake for years to come and keeping it in pristine condition can help you do just that!  Here are a few ways to ensure your Deep Creek Lake home can weather any storm that hits Deep Creek Lake this winter. 

1. Protect your roof-  Preventing snow from piling up on your Deep Creek Lake home’s roof can keep your roof from collapsing and costing thousands of dollars in damage.  Most roof can support about 20 pounds per square foot, which is about 4 feet of new snow before becoming distressed.  However, you don’t want to wait until that happens to do something about it.  Using a roof rake with an extra long handle after a snow storm will keep the distress on your roof to a minimum and will protect against collapses.   

2. Prevent ice dams- While hanging icicles may look nice, these can be a sign that you have ice dams building up under your roof.  This happens when heat from inside your house causes water to melt in the middle of your roof and then refreeze near the edges, creating a dam that can lead to leaks in your roof and damage your ceilings, walls and roof.  To prevent this, keep your attic no more than 5 to 10 degrees warmer than outside temperatures which can be done by cracking a window in your attic.  

3. Bundle up your pipes- To prevent pipes from freezing (one of the most common insurance claims in the winter), wrap attic, basement and crawl-space pipes in insulation, which costs as little as $1 per six feet.  You can also open kitchen and bathroom cabinets to allow warm air to flow around the pipes, and let water drip slowly from faucets.

4. Do some quick maintenance-  There are a few minor things you can do to keep issues at bay during the winter months.  Keep trees trimmed, clean gutters and downspouts, and install weather stripping to seal drafty windows and doors. If you have extra time, make sure your landscaping is graded so runoff from rain or melting snow moves away from the foundation. 

5. Keep an emergency kit in your home- Being fully prepared in case of a power outage or being snowed in is something you can do with an emergency home kit.  The Red Cross recommends stocking an emergency preparedness kit with basic supplies, including a three-day supply of food and water for each person in your household, flashlights, extra batteries, a weather radio, a first aid kit, and a seven-day supply of medications and medical supplies. Don't forget to have extra food and supplies for your pets! Also keep printouts of your insurance and emergency information (so you're not dependent on a computer if the electricity is knocked out), as well as cash on hand. 

6. Install a home generator- A lot can go wrong when your electricity goes out and having a home generator can prevent things like pipes freezing, losing light and heat and much more.  Whether you choose an automatic generator or a portable generator, make sure they are properly installed by a professional and that you read all safety information before using. 

7. Stay warm safely- Carbon monoxide poisoning can be one of the largest winter dangers in a home.  This is caused by improper ventilation of furnaces, generators, charcoal-burning or propane-burning devices, or wood-burning stoves. Have a carbon monoxide detector on all floors of your home. If you have a chimney in your Deep Creek Lake home, be sure to have your chimney cleaned every year to avoid flammable creosote buildup, buy a sturdy screen to keep sparks in the fireplace, and dispose of ashes in a metal container.

As we find ourselves in a new year and the middle of winter, we want to help you prepare you and your home as much as possible for potential risks.  Going through these potential hazards and taking the necessary precautions can ensure you have a safe and enjoyable winter season on Deep Creek Lake!

If you don’t own a home on Deep Creek Lake, but have been considering buying one of the beautiful homes currently available; please let us know!  We would be happy to answer your questions and walk with you through the home buying process.

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