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Greetings! ,
As we contemplate the country's current ecomonic condition, you might be interested to know that Realogy Corporation, which owns the Coldwell Banker franchise, has approached the U.S. Department of the Treasury with a proposal for a short-term mortgage rate buydown, as a practical solution to stimulate the housing market and lead to a broader economic recovery. Realogy is proposing a buydown to 4.5% interest or lower on a 30-year fixed rate mortgage as a homebuyer incentive, based on surveys of its franchisees and U.S. homeowners. You can read the complete press release here.
Whether this proposal gains traction or not, our experience here at Deep Creek Lake is that mortgage money is available, on reasonable terms, for credit-worthy buyers. Furthermore, many sellers are ready for serious negotiation on property price and terms, as demonstrated by the participation of nearly half our inventory in Coldwell Banker's 10-Day Sales Event, earlier this month.
Current MLS statistics confirm stable prices, with a relatively low number of transactions, making an ideal market for buyers who are able to purchase now and potentially close before the end of the year.
So go online to look for your dream property (or call our office for personalized help), and schedule an appointment with one of our professional Sales Associates.
And please feel free to get in touch with me at any time! I look forward to hearing from you.
 Sincerely, Ruth Seib, Broker Coldwell Banker Deep Creek Realty
24439 Garrett Highway, McHenry, MD 21541
P.S. You can also sign up HERE for our Deep Creek Lake Vacation Rental newsletter! | |
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 Late October, 2008We celebrated a truly glorius "Autumn Glory" festival earlier this month, and though an early snowfall is covering the grass as I look out the window today, temperatures are forecast to climb back into the 60's by next week. This is a wonderful time of year to explore Garrett County's State Parks and Forests. Swallow Falls State Park features the famous and much-photographed Muddy Creek Falls, which is beautiful any time of year. Click here for a list of Trail Guides for Garrett County public lands.
If you need a place to stay, look for "Last Minute Specials" or "Mini-Vacations" through our Vacation Rental Department. And if you're interested in looking at properties for sale during your visit, be sure to call ahead to schedule an appointment with one of our Sales Associates! |
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"What do you mean, 'Buyer's Agent'? "
If you're ready to get in touch with a real estate agent to show you property, allow a few minutes for your agent to explain Maryland's Agency Law to you. Even though you're eager to get on the road and see some homes, it's to your benefit to understand the role of the agent who will be working with you.
Since 1999, Maryland law has required that agents have a discussion with you, not later than your first scheduled face-to-face meeting, about agency representation. This law is designed to protect and inform you, the consumer. In Maryland, agents are required to represent the interests of either the seller or the buyer. They are not allowed to be "neutral." So it's important for you to know whether the agent you're working with is on your side or not! Of course the law also requires agents to be truthful and fair, but a simple question such as "Do you think the property really worth the asking price?" might be answered differently depending on who the agent represents.
Also, you'll want to be very upfront about issues such as your financial limits and how quickly you want to purchase with an agent who represents you, but if you're a buyer, you definitely don't want to discuss that information with an agent who represents the seller, as it might later hurt your negotiating position. Maybe the best part is that it doesn't typically cost you anything to have an agent on your side because almost all sellers in our market agree upfront that their commission payment can be shared with a buyer's agent. In fact, your agent's good advice may help you make a better deal on your purchase. Your agent can compare the property you're interested in with other properties that are currently listed or recently sold. You can use this information to decide how much to pay for the property. Your agent will also suggest ways to protect yourself in the contract regarding potentially unknown conditions that might be found in a building inspection, for instance. At Coldwell Banker Deep Creek Realty, all of our Sales Associates understand how important it is to fully represent the interest of our clients. As a company, we've endorsed Buyer Agency for over 20 years through training and office policy. Call one of our Sales Associates today, and get an agent "on your side!" |
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As always, please get in touch if we can help! Our Agents can help identify properties that match what you're looking for, and can send you updates when new properties come on the market. Please feel free to forward this message to a friend, and keep us in mind for all your real estate questions. And if there's a topic you'd like to see addressed in this newsletter, please let me know.
 Sincerely,
Ruth Seib, Broker
Coldwell Banker Deep Creek Realty
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©2008 Coldwell Banker Deep Creek Realty, All rights reserved. | |
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Office Hours:
9am - 6pm Daily
OFFICES ARE CLOSED
Easter, Thanksgiving, Christmas, & New Year's
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