Real Estate
Wednesday, March 10, 2010
Suites at Silver Tree - Deep Creek Lake Condominiums
Community Profile: Silver Tree Suites at Deep Creek Lake via DCLinfo.com
Search for real estate for sale at Silver Tree Suites
Located on one of the last open parcels of lakeshore on Deep Creek Lake, Silver Tree Suites boasts unobstructed views of the lake and shoreline as well as a variety of impeccably kept outdoor spaces including outdoor fireplaces, fire-pit, beautiful decks and patios, all within easy walking distance to the Silver Tree Marina, and the historic Silver Tree Inn.
The historical precedent set by the Silver Tree Inn (independent restaurant connected to Silver Tree Suites) forms the cornerstone of the architectural design. The Inn, dating to just after World War II, was originally used as a lodge and later purchased and operated by the Lascaris family for over 27 years as one of the finest restaurants in the area.
Silver Tree Suites draws on many architectural icons from the historic Inn including use of heavy timber, and indigenous stone The lobby areas also incorporate dramatic use of timber trusses and opposing fireplaces similar to the original Inns dining room, attempting to reinterpret the original lodge feeling.
Special Features
2 buildings comprised of 50 total units - (Building A = 40 and Building B = 10)
Studio Hotel Suites
One Bedroom Hotel Suites
Studio Hotel Suites with Loft
One Bedroom Hotel Suites with Loft
Lake Views or Standard Units.
Most units each have an exterior deck. All units each have a gas fireplace & living room.
Located next door to Silver Tree Inn Restaurant & Silver Tree Marina.
Close proximity to virtually all Deep Creek Lake activities & Deep Creek Lake State Park.
A fitness center will have a Sauna and equipment to keep you trim and fit while on vacation.
The exterior deck will feature views of Deep Creek Lake State Park and Adirondack chairs to saok up the sun. A sun deck, covered porch and outdoor fireplace complete the picture.
A coffee shop with a sundries shop is
located lakeside right by the lakeside fireplace area.
The reading loft offers a great place to curl up with your favorite book
whether it be a day when snowflakes gently fall from the skies, or when
the leaves turn their golden colors in the fall. Designed to be a quiet
recluse for owners and guests enjoyment.
Located on one of the most prime lakefront on Deep Creek Lake, Silver Tree Suites boasts of unobstructed views of the lake, shoreline and surrounding Maryland mountains.
Level grounds, a luxury in lakefront properties, is inherent to this parcel.
Contact
567 Glendale Road
Oakland, MD 21550
(301) 387-0650
Suites at Silver Tree
*information is believed to be accurate but is not guaranteed.
If you are thinking of buying or selling real estate in Garrett County or Deep Creek Lake, Maryland, call Jay Ferguson of Railey Realty for all of your real estate needs! 877-563-5350
Monday, March 08, 2010
February 2010 Homes Sales in Garrett County & Deep Creek Lake
The nasty weather definitely had an adverse affect on the local real estate market in Febraury with only 6 residential settlements. It’s next to impossible to show and sell houses with 5-10 foot drifts at residential homes, let alone vacation homes which may not have seen a snowplow in weeks!
There are signs of a stronger spring ahead of us, as there are 33 ‘contracts’ in place which will close over the coming months and the economic indicators for the country are improving.
3 of the 6 sales were Deep Creek Lake area, and the other appear to be primary residential.
The average list vs. ORIGINAL sales price is 79.34% (down from January), though the ADJUSTED list vs. sales price is 88.31% of asking price (also down from January). There was at least one foreclosure/bank owned property included in these stats, so that often skews the numbers somewhat.
The current number of active/for sale residential listings is 575. 33 of these homes are under contract. This is a net reduction from January 2009 (11 less homes for sale, 3 more under contract). Slowly but surely, our inventory numbers are continuing to decrease! Expect an increase of homes on the market in the spring, when more people historically decide to test the waters. Prices have stabilized and are increasing on average over the past few months!
Here are the statistical breakdowns:
Avearge Sale Price: $309,200
Average Days on Market: 164/296 (days on market with current borker/total days on market)
Pleasant Valley, Garrett County Maryland
I had someone send me this photo of their family farm in southern Garrett County over the weekend and I was reminded of a Garrett County gem - Pleasant Valley. It’s not a town, so you can’t find it on the map as an address, but it is a collection of farms, fields, and homes on Route 219 south of Oakland. There is a prevalent Amish population, generations of local farmers and lots of other cool places to drive by and see. My father had a home in the valley for 10 years or so while I was growing up, so I was fortunate enough to have experienced the beautiful sights, sounds (and smells) of this agricultural area. Pleasant Valley lies beneath the Backbone Mountain ridge, so the backdrop of the highest point in Maryland is equally impressive as you take in the beautiful sights and sounds of Pleasant Valley! Take a trip to see the working farms, and stop by one of the many ‘shops’ that you will encounter along the way. You buy everything from fresh produce and eggs to Garrett County’s own maple syrup, baking goods, fresh baked bread & yummy deserts. There are also fun activities like horse drawn carriage rides, the Backbone Mountain ski farm and you can even arrange a trip to see livestock on a Garrett County farm!
Want your own piece of the Valley? Railey Realty offers many diverse tracts of recreational land, farm/pasture land and homes in this beautiful are of Garrett County. You can search for real estate here, or I would be happy to help you find the property of your dreams in Southern Garrett County, Pleasant Valley and Backbone Mountain!
If you are thinking of buying or selling real estate in Garrett County or Deep Creek Lake, Maryland, call Jay Ferguson of Railey Realty for all of your real estate needs! 877-563-5350
Thursday, March 04, 2010
Duane Yoder receives 2010 Houser of the Year Award
Duane Yoder, president of the Garrett County Community Action Committee, received the 2010 Houser of the Year Award during the Maryland Affordable Housing Coalition’s (MAHC) annual meeting last month in Annapolis. This award recognizes an individual who has demonstrated “outstanding” overall achievement in the development of quality affordable rental housing in Maryland. Additionally, this individual is someone who, over the years, has helped to promote and preserve affordable housing opportunities for low-income Marylanders by tackling tough issues and advocating for the affordable housing industry in the state.
Yoder has been an industry leader who has advocated for or supported affordable housing for all of Garrett County for many years, according to county administrator Monty Pagenhardt, who attended the conference. “Duane is recognized by his peers from all around the state for his dedication and hard work,” said Pagenhardt. “It was very evident to me that Garrett County is a model for every local jurisdiction throughout the state for our affordable housing program and the acknowledgment of Duane for this award was certainly deserving.”
Read the rest of the article here.
If you are thinking of buying or selling real estate in Garrett County or Deep Creek Lake, Maryland, call Jay Ferguson of Railey Realty for all of your real estate needs! 877-563-5350
Posted by
Jay on 03/04 at 11:35 PM
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Masterpiece Lakefront Home Deep Creek Lake 3285 Shingle Camp GA7205460 $1,999,900
This has to be one of the most unique homes you will find at Deep Creek Lake. Nearly 7200 square feet! Architectural Elegance describes this truly unique and magnificent home at Deep Creek Lake. Sitting on 135’ lakefront this home offers a unique blend of antique and contemporary finishes. The minute you step through the front door you will know you are seeing something wonderfully unique at Deep Creek Lake.
Listed by Railey Realty & Debra Savage. More details here.
If you are thinking of buying or selling real estate in Garrett County or Deep Creek Lake, Maryland, call Jay Ferguson of Railey Realty for all of your real estate needs! 877-563-5350
Split foyer 3 bedroom home for sale near New Germany state park GA7087027 $139,900
Convenient location near New Germany State Park and Deep Creek Lake. You’ll enjoy the quiet countryside from this spacious brick home. Features: multiple garage spaces, circular driveway, full basement, 2nd living room room/kitchen, enclosed back porch/sun room, multi-heat options and room to expand!
If you are thinking of buying or selling real estate in Garrett County or Deep Creek Lake, Maryland, call Jay Ferguson of Railey Realty for all of your real estate needs! 877-563-5350
6 acre building lot Sand Flat, Deep Creek Lake $100,000 GA7160562
Spacious 6 acre building lot with great valley views near Deep Creek Lake. Overlooks the valley where the namesake stream ‘Deep Creek’ begins. Great price! Subdivison: Mountain View Estates. More details here.
If you are thinking of buying or selling real estate in Garrett County or Deep Creek Lake, Maryland, call Jay Ferguson of Railey Realty for all of your real estate needs! 877-563-5350
Wednesday, March 03, 2010
Slopefront & Lakefront Lot - Deep Creek Lake - GA6261447 - $849,900
Location, location, location.... You can’t find a better spot than this!
Are location & easy slope access crucial? If so, you’ll find this lot irresistible! Located beneath Wisp’s “Main Street” ski slopes, this lot offers exceptional views of the lake & has 100’ of lakefront.Lot #8, 1059 Marsh Hill Road. Listed by Debra Savage & Railey Realty.
More info available here.
Deep Creek Real Estate for Sale - 47 Ski Harbor - GA7267782 - $239,900
Ideal 2 bedroom condo on a peninsula at Ski Harbor. Spectacular lake/slope location in the heart of Deep Creek Lake. Level lake access area with views of the ski slopes and wide lake views, beach volleyball, indoor swimming pool & sauna, tennis courts & more! Less than a mile to skiing!
More details available here.
If you are thinking of buying or selling real estate in Garrett County or Deep Creek Lake, Maryland, call Jay Ferguson of Railey Realty for all of your real estate needs! 877-563-5350
Tuesday, March 02, 2010
A Price Worth Paying - Realtor.org
Buyers will be pinched by FHA’s new rules.
By Robert Freedman | March 2010
No one likes it when changes to mortgage underwriting make it harder for working households to secure safe and affordable home financing.
But in the case of the FHA’s tightened lending requirements announced in late January, the end may justify the means. The policy changes are designed to shore up the FHA’s capital reserves and help the agency do a better job of managing risk.
“These changes, while serious, are reasonable,” says John Anderson, CRS®, GRI, a 30-year real estate veteran who chairs the NATIONAL ASSOCIATION OF REALTORS®’ Federal Housing Policy Committee. “I think the FHA is doing the right thing.”
Nonetheless, Anderson, broker-owner of Twin Oaks Realty Inc. in Crystal, Minn., acknowledges that many households will be adversely affected. Buyers will have to either spend more to secure financing or scale down what they buy.
Among other things, the FHA is raising its upfront mortgage insurance premium to 2.25 percent from 1.75 percent, boosting the minimum down payment to 10 percent for borrowers with a credit score of 580 and below (it stays at 3.5 percent for everyone else), and reducing permissible seller concessions from 6 percent to 3 percent.
The FHA also will seek legislation to raise the annual mortgage insurance premium to a level above the current cap of 0.55 percent. The agency already has authority to institute the other changes.
“Striking the right balance between managing the FHA’s risk, continuing to provide access to underserved communities, and supporting the nation’s economic recovery is critically important,” FHA Commissioner David Stevens said in a statement.
Read the rest of the article here.
If you are thinking of buying or selling real estate in Garrett County or Deep Creek Lake, Maryland, call Jay Ferguson of Railey Realty for all of your real estate needs! 877-563-5350
Monday, March 01, 2010
Existing-Home Sales Down in January but Higher than a Year Ago; Prices Steady - Realtor.org
Existing-home sales fell in January but are above year-ago levels, according to the National Association of Realtors®.
Existing-home sales – including single-family, townhomes, condominiums and co-ops – dropped 7.2 percent to a seasonally adjusted annual rate1 of 5.05 million units in January from a revised 5.44 million in December, but remain 11.5 percent above the 4.53 million-unit level in January 2009.
Lawrence Yun, NAR chief economist, said there is still some delay between shopping and closing that affected current sales. “Most of the completed deals in January were based on contracts in November and December. People who got into the market after the home buyer tax credit was extended in November have only recently started to offer contracts, so it will take a couple months to close those sales,” he said. “Still, the latest monthly sales decline is not encouraging, and raises concern about the strength of a recovery.”
Total housing inventory at the end of January fell 0.5 percent to 3.27 million existing homes available for sale, which represents a 7.8-month supply2 at the current sales pace, up from a 7.2-month supply in December. Raw unsold inventory is 9.6 percent below a year ago, and is at the lowest level since March 2006.
“Activity should be picking up strongly in late spring as buyers take advantage of the tax credit, which is critical to absorb distressed properties reaching the market and to continually chip away at inventory,” Yun said. “With a downtrend in the number of homes on the market, especially in the lower price ranges, values are beginning to firm but with great variance around the country.”
The national median existing-home price3 for all housing types was $164,700 in January, unchanged from a year earlier. Distressed homes, which accounted for 38 percent of sales last month, continue to downwardly distort the median price because they typically are discounted in comparison with traditional homes in the same area.
A parallel NAR practitioner survey4 shows first-time buyers purchased 40 percent of homes in January, down from 43 percent in December. Investors accounted for 17 percent of transactions in January, up from 15 percent in December; the remaining sales were to repeat buyers. The survey also shows that buyer traffic increased 9.4 percent in January.
NAR President Vicki Cox Golder, owner of Vicki L. Cox & Associates in Tucson, Ariz., said buying a home in the current environment has become more challenging. “First-time buyers and others who need a mortgage are increasingly losing out to all-cash investors for the best bargains in many areas, particularly for foreclosed homes where cash is king,” she said.
“Inventory conditions vary by price range, and of course there are major differences depending on location. Realtors® are the best buyer resource for strategies on winning bids in increasingly competitive markets,” Golder said. “The bidding for more desirable homes will only accelerate between now and the April 30 contract deadline to qualify for a tax credit of up to $8,000.”
According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage edged up to 5.03 percent in January from 4.93 percent in December; the rate was 5.05 percent in January 2009.
Single-family home sales fell 6.9 percent to a seasonally adjusted annual rate of 4.43 million in January from a level of 4.76 million in December, but are 8.6 percent above the 4.08 million pace in January 2009. The median existing single-family home price was $163,600 in January, down 0.4 percent from a year ago.
Existing condominium and co-op sales dropped 8.1 percent to a seasonally adjusted annual rate of 620,000 in January from 675,000 in December, but are 38.1 percent above the 449,000-unit level a year ago. The median existing condo price5 was $172,400 in January, which is 1.4 percent higher than January 2009.
Regionally, existing-home sales in the Northeast fell 10.9 percent to an annual pace of 820,000 in January but are 22.4 percent above a year ago. The median price in the Northeast was $245,300, a gain of 8.8 percent from January 2009.
Existing-home sales in the Midwest declined 6.9 percent in January to a level of 1.08 million but are 8.0 percent higher than January 2009. The median price in the Midwest was $130,300, which is 1.0 percent below a year ago.
In the South, existing-home sales dropped 7.4 percent to an annual pace of 1.87 million in January but are 12.0 percent above a year ago. The median price in the South was $140,200, down 2.0 percent from January 2009.
Existing-home sales in the West declined 5.2 percent to an annual rate of 1.28 million in January but are 7.6 percent higher than January 2009. The median price in the West was $203,400, down 5.8 percent from a year ago.
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.
If you are thinking of buying or selling real estate in Garrett County or Deep Creek Lake, Maryland, call Jay Ferguson of Railey Realty for all of your real estate needs! 877-563-5350
Wednesday, February 24, 2010
Railey Realty Welcomes Jay Ferguson, REALTOR - Railey Blog
Railey Realty Welcomes Jay Ferguson, REALTOR
By: Mike Kennedy
301-616-6106
February 24th, 2010
Category: Garrett County News, News
Lifelong Garrett County Maryland resident Jay Ferguson has joined Railey Realty - Deep Creek Lake and Garrett County’s leading real estate company since 1995. Jay has spent the last 9 years in the real estate business with Long & Foster Real Estate. He was the office individual top producer for 6 consecutive years, and a Hall of Fame member of the Gold Team - a distinguished honor in the company based on annual sales of $5 million or more for 8 of the last 9 years. Jay has expanded on his Realtor education as a GRI (Graduate of the Realtor Institute), RRS (Resort Recreation Specialist) and an e-Pro (internet transaction & marketing specialist).
Jay has successfully blended his background in web design and internet marketing / consulting to propel his real estate sales career and grow his business. He has worked with hundreds of clients throughout the years and has assisted many first time home buyers and friends in the dream of home ownership. Ferguson says, “I was born and raised in Oakland & at the lake, and it’s incredibly exciting to introduce new residents to everything that Garrett County has to offer. I’m very proud of how much our area has grown throughout the years and the many new businesses & attractions that make our home even more special.”
Ferguson has specialized in Southern Garrett County homes/land & Deep Creek Lake vacation home/building lot sales, though he has vast experience in all other areas of the county, as well. Jay has sold and marketed everything from small recreational lots, to farms, single family homes and vacation homes at Deep Creek Lake and Wisp Resort. “I greatly appreciate the opportunities and the people that I have worked with through my years in the real estate business. I have learned a lot from some truly great friends, colleagues, and real estate professionals. I look forward to a new challenge in my life and adding my sales experience and web marketing to the area’s #1 real estate agency. I am always eager to learn more from some of the greatest Realtors the county has to offer, as well as working with a locally owned real estate company.”
Railey broker and owner Kevin Liller had this to say about Jay. “We are really excited to have Jay join the Railey Realty team. Jay is a quality person who brings a vast knowledge of real estate and internet marketing as well as a very loyal customer and client base.”
Jay and his family live in Mitchell Manor in Oakland. He and his wife Jessica have two young children, Kayleah, 10, and Noah, 2. Jay is the son of Jerry & Sherry Ferguson, both Garrett County natives.
If you are thinking of buying or selling real estate in Garrett County or Deep Creek Lake, Maryland, call Jay Ferguson of Railey Realty for all of your real estate needs! 877-563-5350
Posted by
Jay on 02/24 at 12:31 PM
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My new office at Railey Realty
My first day at the new office was great. I had been there countless times before for paperwork, files, and meetings, but this time was a lot different. Everyone was incredibly kind and welcoming. The office is huge and everyone was hard at work. I’ve got a good view of the ski slopes at Wisp from my desk, so I feel right at home. Thanks again to all of the agents and staff, especially Mike Kennedy and Nancy Trotta who made me feel right at home and gave me the ‘tour’!
Posted by
Jay on 02/24 at 12:29 PM
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Tuesday, February 23, 2010
Jay Ferguson has joined Railey Realty at Deep Creek Lake
It’s official: I have teamed up with Deep Creek Lake & Garrett County, Maryland’s #1 Real Estate brokerage, Railey Realty. I’m really looking forward to the opportunity to grow my real estate business and to continue to provide excellent service and sales to all of my friends, family and clients! A special thanks to all of my friends and colleagues that I have worked with through years while at L&F - it was a very special 9 years of my life 
If you are in the market to buy or sell real estate in Garrett County or at Deep Creek Lake, I would LOVE to be your agent!!!
If you are thinking of buying or selling real estate in Garrett County or Deep Creek Lake, Maryland, call Jay Ferguson of Railey Realty for all of your real estate needs! 877-563-5350
Posted by
Jay on 02/23 at 04:32 PM
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Friday, February 19, 2010
Garrett County Planning Commission’s public hearing March 6
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The Garrett County Planning Commission’s public hearing on proposed revisions to three principal land development ordinances has been rescheduled for Saturday, March 6, at 10 a.m. in the Garrett College auditorium.
In the event of inclement weather, the alternative hearing date is Thursday, March 11, at 7 p.m. at Garrett College.
The proposed revisions would affect the Deep Creek Watershed Zoning, Garrett County Subdivision, and Garrett County Sensitive Areas ordinances.
If you are thinking of buying or selling real estate in Garrett County or Deep Creek Lake, Maryland, call Jay Ferguson of Long & Foster Real Estate for all of your real estate needs! 877-563-5350
