Deep Creek Lake

We’ve made it through the first 36-48” we received at Deep Creek Lake this weekend and now we’re bearing down for the next 12-20” coming tonight and tomorrow.  Having been housebound for a day, I was able to catch up on some market tidbits and interesting facts recently released by The National Association of REALTORS® (NAR®). 

NAR® has recently released a book that outlines the buying habits of the previous year, 2009.  What we have believed over the past year is now official…90% of buyers use the internet to search for real estate.  Although these statistics are geared toward a primary residence homebuyer rather than a second homebuyer, the tactics are still the same for any buyer.  This information is helpful in ‘moving with the market’ and adapting your business plan to meet the wishes of your target market. 

• 47% of recent homebuyers were first-time.
• 21% of recent homebuyers were single women.
• Typical homebuyer searched for 12 weeks and saw 12 homes before buying.
• Recent sellers sold their home for 95% of asking price and 60% had reduced the price at least once.
• 42% of recent sellers offered incentives in terms of warranties and closing help.
• Sources recent buyers used in home search:  90% internet, 87% agent, 59% yard sign.
• Most frequently used sources by buyers:  76% internet, 68% agent, 24% yard sign.
• “Most useful” information for buyers was found:  81% agent, 77% internet, 42% yard sign, 2% newspaper.
• Buyers found the home they purchased using:  36% agent, 36% internet, 12% yard sign, 2% newspaper.
• Website features buyers found “very useful”:  84% photos, 82% detailed information, 63% virtual tours, 46% agent contact information, 43% interactive maps, 40% neighborhood information.
• What buyers want most from real estate agents:  46% finding home, 16% negotiating terms, 13% negotiating price, 9% help with paperwork, 8% comps.
• What buyers considered benefits of using an agent:  63% understand process, 53% pointing out unnoticed features/faults, 42% negotiate terms, 41% improve knowledge of search area, 41% improved list of vendors, 20% expanded buyers search area, 18% narrowed buyers search area.
• Number of agents interviewed by buyer:  66% one, 19% two, 10% three.
• “Most important” factors for buyer agent selection:  98% honesty/integrity, 95% knowledge of purchase process, 93% responsiveness, 92% market knowledge, 84% negotiating skills, 83% people skills.
• Methods used to find agent:  40% referral, 24% used agent used previously, 5% met agent at an open house, 3% saw contact information on yard sign or open house sign, 1% calendar, magnet, etc.
• “Most important” factors for listing agent selection: 22% pricing help, 21% find a buyer, 19% marketing help, 19% selling home within specific timeframe, 10% find ways to fix-up home so it will sell for more.
• 85% of all FSBOs had an agent bring the buyer.
• FSBO vs Agent Assisted Sales Price:  FSBO $172,000, Agent Assisted $215,000
• (Source: National Association of REALTORS®)

As always, feel free to contact me anytime concerning Deep Creek Lake or Garrett County real estate 301.616.5022.  With the upcoming President’s Day holiday and the fresh powder, it’s the perfect opportunity to visit Deep Creek Lake, Maryland for a long weekend and take on Wisp Ski Resort’s 30+ trails.

Deep Creek Lake

Some people that travel to Deep Creek Lake and Garrett County, Maryland say that it’s almost like someone flipped the weather switch once you cross over the Eastern Continental Divide line in the Eastern most part of Garrett County, near Grantsville, MD.  And, living in Deep Creek Lake my entire life, I can attest to that! 

Whether you’re commuting to the area from Baltimore, DC or Northern VA you might get the impression on the ride here that there won’t be any fresh snow when you arrive.  But, hold on, just as soon as you top the hill at Finzel and again at Keysers Ridge you will come to find that this is not the case at all.  The Eastern Continental Divide falls just between these 2 mountain ranges, that’s why many say it’s a landmark for the weather to come ahead.  In fact, Garrett County has the highest elevations in Maryland, ranging from 1800-3000 feet in most areas and 3000-4500 feet in a few small spots.  See Maryland elevation map courtesy of geology.com: http://geology.com/state-map/maryland.shtml.   

The Eastern Continental Divide, in conjunction with other continental divides of North America, demarcates two watersheds of the Atlantic Ocean: the Gulf of Mexico watershed and the Atlantic Seaboard watershed.  Prior to 1760, the Divide represented the boundary between the British and French colonial possessions in North America.  The ECD runs south-southwest from the Eastern Triple Divide through several Atlantic Seaboard states (and West Virginia) to the watershed of the Florida Bay, which is adjacent to both the Gulf of Mexico and the Atlantic Ocean.  (Source: http://en.wikipedia.org/wiki/Eastern_Continental_Divide)

Find out for yourself.  Pack up the family and head as far West as you can go in MD to Maryland’s only ski resort for the weekend, Wisp Resort.  You’ll experience Deep Creek Lake in it’s winter wonderland.  www.DeepCreekLakeProperty.com