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By: Mike Kennedy mkennedy@railey.com 301-616-6106 May 16th, 2008 Category: Deep Creek Lake Real Estate |
In the midst of up and down real estate news, Deep Creek Lake stands out as a spot of sunshine in a rainy spring.
Yes, the number of properties sold in Garrett County, Western Maryland is down from 2007 - but not like other markets who are reporting sales down by as much as half, a third, or even 20%! And remarkably, our prices are stable and even up. Closing average prices over the last 4 months have been up by as much as 10%! (Statistics based on Residential Sales closing prices as determined by MRIS-regional multiple listing service).
Choices abound in this market-lakefront, lake access, lake view or secluded, wooded properties. Sellers are more flexible. Serious sellers are studying the market and pricing their properties sensibly after consulting with their Realtor®. Many incentives make the homes even more attractive. Something else to consider: If you have fallen in love with a property that “needs some work”, licensed contractors are more readily available, too. With less new construction, crews are not working multiple sites, and can devote more time and attention to your project.
Interest rates are still low-below 6% in many cases.
If you are looking at a second home as an investment-if you plan to rent it out to vacationers for the present, rentals are up in Deep Creek lake area. Local rental offices are looking for additional properties to add to their rolls. And if this will be simply your lake home, many homes are sold fully furnished-even in new construction. So you can have immediate use of your new home.
This current market provides the best opportunity to find the exact home you have been looking for. And Deep Creek Lake has so many of the details that you have been looking for. And the activities are increasing each season.
Why wait? Call or e-mail us today!?