February 2011 – Page 8 – Jay's Real Estate Blog

>Fed's Kocherlakota: Headwinds to curb U.S. growth

>ST. PAUL, Minnesota | Fri Feb 4, 2011 8:20am EST

ST. PAUL, Minnesota (Reuters) – Headwinds stemming from the collapse of the housing bubble will hold back the U.S. economy this year, keeping growth closer to 3 percent than 4 percent, a top Federal Reserve official said on Thursday.

While 2011 will be better than 2010, the pace of recovery will not be fast enough to make a serious dent in the stubbornly high jobless rate, Minneapolis Fed President Narayana Kocherlakota said in a speech prepared for delivery at the Twin Cities campus of the University of Minnesota.

Kocherlakota sees the jobless rate staying above 9 percent for the rest of this year. “Even more troubling,” it will still be above 8 percent by the end of next year, he said in the speech, which largely repeated one he gave on January 11 in Madison, Wisconsin.

The U.S. jobless rate was 9.4 percent in December, and economists estimate it rose to 9.5 percent in January. The government will report the January rate on Friday morning as part of its closely watched monthly payrolls report.

Read the full article here.

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>Housing finance changes likely to mean less government backing for some buyers

>By Zachary A. Goldfarb and Brady Dennis
Washington Post Staff Writers
Friday, February 4, 2011; 12:08 AM

The Obama administration is likely to recommend reducing the size of mortgages eligible for government backing, according to current and former officials, a move that could make getting a home loan in high-priced areas such as the Washington region more expensive.

Administration officials, who are preparing a white paper on overhauling the nation’s housing finance system, are looking at scaling back the support provided during the mortgage crisis to help the ailing real estate market.

In the District and most of its neighboring counties, home buyers have benefited from a temporary federal policy that has allowed mortgages up to $729,750 to receive government backing. Such home loans typically carry lower interest rates than those without government support, because investors are attracted by the official guarantee.

The administration is now likely to suggest that Congress allow the policy to lapse as scheduled in September, lowering the loan limit to $625,500.

The proposal to let the higher limits lapse is among the most concrete elements in the long-awaited review, which examines various options for reshaping the role government plays in the mortgage finance market.

Read the full 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

>5 more charged in connection with Garrett County, Md., jailbreak; escapee still at large

>By Associated Press
5:04 p.m. EST, February 3, 2011

OAKLAND, Md. (AP) — Garrett County authorities are charging five people with conspiracy in the escape of a jail inmate.

The sheriff’s office said Thursday that two people from Alexandria, Va., two from College Park, Md., and a Cumberland man have each been charged with conspiracy to commit first-degree burglary, conspiracy to commit first-degree assault and being an accessory after the fact.

This brings to seven the number of alleged conspirators in the Jan. 23 escape of 29-year-old Deandre Kelly of Washington. He remains at large.

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

>Price reduced-119 Penelacre Lane-GA7386783

>
Modest 2BR A-frame (AS-IS) on 234+ ft of lakefront at Deep Creek Lake. Lot 8 & 9 Penelacres Sub. combine to form 2.21+/-acres & provide access to Deep Creek Lake. Neither property qualifies for a dock permit, though you can still swim, fish, kayak, canoe. Lot 9 improved w/ septic system & foundation. The sellers did purchase the buydown property for both parcels. Stream runs through property.

Contact Jay Ferguson @ 301-501-0420 or DeepCreekLaker@Gmail.com for more information or to setup a private showing for this property.

Listing # GA7386783

$279,000

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

>State will investigate Garrett County jail escape at sheriff’s request

>Jeffrey Alderton
The Cumberland Times-News Thu Feb 03, 2011, 07:51 AM EST

OAKLAND — The escape of an inmate from the Garrett County Detention Center on Jan. 23 will be formally investigated by the Maryland Department of Public Safety and Correctional Services, according to Garrett County Sheriff Rob Corley.

“I have requested the state to investigate, and I have verbal confirmation that the agency will do the investigation,” said Corley.

Deandre Kelly, 29, of Washington, D.C., escaped from the lockup after he “produced an object believed to be a handgun and forced the officers to release an exit door,” according to the sheriff’s office in a press release that announced the escape. The media received notification of the escape in the early morning hours of Jan. 24.

Two correctional officers involved in the incident were not injured. No formal action has been taken against the officers. The incident has been under investigation from the outset by the sheriff’s office. Corley indicated late last week that an independent agency was asked to become involved in the investigation. Tuesday, he told the Times-News that the DPSCS would formally investigate the escape.

Read the full 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

>You'll find days of wine and roses at several romantic getaways

>Sunday, January 30, 2011
By Virginia Linn, Pittsburgh Post-Gazette

With Valentine’s Day around the corner, there are activities and places in the region that make perfect romantic getaways. Here’s a sampling…:

Lake Pointe Inn, bed & breakfast mountain retreat in McHenry, Md., on the shore of Deep Creek Lake. Originally an 1880s farmhouse, the place has been modernized and renovated to include 10 guest rooms.

There’s plenty of pampering, with a massage room (hot stone and Swedish massage and reflexology), steam shower and sauna. Complimentary breakfast will fill you for the rest of the day.

The inn offers some romantic touches:

– Champagne package with champagne, Godiva chocolates and two Lake Pointe Inn champagne glasses ($65).

– Champagne with two Lake Pointe Inn champagne glasses ($55).

– Wine package with bottle of red or white wine served with wine crackers, paired with two Lake Pointe Inn wine goblets ($60).

– Red silk rose petal sprinkling in the room ($20).

The inn is at 174 Lake Pointe Drive, McHenry, Md. 21541. Deepcreekinns.com; 1-800-523-5253.

Virginia Linn: vlinn@post-gazette.com or 412-263-1662.

Read more: http://www.post-gazette.com/pg/11030/1121240-37.stm#ixzz1D0474YBA

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

>Back on the market-47 Ski Harbor-GA7519805

>
Ideal 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!

Contact Jay Ferguson @ 301-501-0420 or DeepCreekLaker@Gmail.com for more information or to setup a private showing for this property.

Listing # GA7519805
$221,000

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

>Slippery roads may return with freezing rain advisory

>From Staff Reports
Cumberland Times-News The Cumberland Times-News Tue Feb 01, 2011, 02:40 PM EST

CUMBERLAND — Rain coupled with subfreezing temperatures created slippery road conditions throughout the region Tuesday but with no major accidents reported by early afternoon.

Icing conditions shut down Garrett County government offices, delayed opening of circuit and district courts, and shut down school systems in Allegany and Garrett counties. Delayed openings were reported in other jurisdictions, including nearby West Virginia counties.

Few accidents were reported despite the freezing conditions — with the notable exception of a jackknifed tanker that blocked state Route 51 in the Collier Run Road area for about two hours. The driver declined medical treatment.

Early Tuesday afternoon, a freezing rain advisory was posted for the region by the National Weather Service for the period from 9 p.m. Tuesday into late Wednesday morning. The weather service also canceled a winter weather advisory and a winter storm watch that it posted Monday for the region.

“We are no means off the hook. The freezing rain advisory is posted for 9 p.m. tonight into late Wednesday morning,” said National Weather Service observer Tim Thomas in Cumberland. “There could up to two-tenths inch of freezing rain overnight.”

While freezing conditions were reported in the higher elevations, few weather-related calls were received by local emergency centers as of early Tuesday afternoon.

“We had a couple vehicles get hung up on the ice but no major accidents,” said a dispatcher at the Mineral County 911 center in Keyser.

At the Maryland State Police barrack in McHenry, public communication officer Brian Chaney said, “It’s not too bad. We actually have some 40-degree temperatures right now. But we’ll have to see what we are in for later.”

Allegany County Bureau of Police Lt. Rodney Bell said several side roads had been closed due to cars sliding into ditches.

“The side roads are terrible. The main roads are decent,” he said Tuesday morning.

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

>Once more with sole – Cumberland Times

>Michael A. Sawyers
The Cumberland Times-News Sun Jan 30, 2011, 08:00 AM EST

As of March 21, if you wear felt soles on the bottom of your boots and you are standing in water in Maryland you will be breaking the law.

I know that because I saw it at www.dnr.state.md.us

The intent of the new law is to prevent didymo — aka rock snot — from being transported from a Maryland waterway where it lives to a Maryland waterway where it does not. Rock snot is an invasive algae that prefers cold streams. It is considered to be as inappropriate as a martini at an AA meeting.

However, as written, the new law applies not just to Maryland trout streams such as the Youghiogheny or the Casselman rivers, but to all of the state’s waters.

Thus, if you are a duck hunter wearing felt-soled boots in a farm pond in Charles County you are in violation of the law.

If you are a trapper wearing felt-soled bottoms and are walking a warm-water rivulet as you check your traps in Dorchester County, you are a scofflaw.

Smile. Your photo on the post office wall will look better that way.

Sgt. Art Windemuth of the Maryland Natural Resources Police said that any time there is a new law the first year is always about “education, education, education.”

That is good news to Didymo and the Traveling Rock Snots as the group continues its farewell tour.

I guess when a natural resources police officer is being an educator about a new law that means the constable will take names, but not yet kick butt.

I guess that means that someone who has been warned, but is caught again in illegal footwear might have those boots confiscated and will have to walk to district court in his or her socks.

Didymo is already in some Maryland streams, including the Savage River in Garrett County.

It is unclear whether or not felt soles would once again become legal should rock snot spread to all of Maryland’s trout streams during the year of regulation education or thereafter.

It has not been determined, to my knowledge, that felt soles are the sole source of didymo expansion.

Paul Peditto, director of the Maryland Wildlife & Heritage Service, said hunters and trappers will be informed about the new law via the agency’s online regulations. News releases will be issued.

Maryland becomes only the third state to ban felt soles, joining Alaska and Vermont in the endeavor.

The soles are illegal, as well, in New Zealand.

—

NRP officer to driver of two-toned 1993 Ford 150 parked alongside Bear Creek: “Sir. I see you have felt-soled boots in the back of your pickup. Have you been wading today?”

Driver: Has sheepish look. Says nothing.

NRP officer: “Step out of the vehicle, please.”

—

I have not yet been able to discover the fines and/or jail time associated with this new law.

I will pass that on to you as soon as it becomes known.

Contact Outdoor Editor Mike Sawyers at msawyers@times-news.com

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

Month: February 2011

>Fed's Kocherlakota: Headwinds to curb U.S. growth

>Housing finance changes likely to mean less government backing for some buyers

>5 more charged in connection with Garrett County, Md., jailbreak; escapee still at large

>Price reduced-119 Penelacre Lane-GA7386783

>State will investigate Garrett County jail escape at sheriff’s request

>You'll find days of wine and roses at several romantic getaways

>Back on the market-47 Ski Harbor-GA7519805

>Slippery roads may return with freezing rain advisory

>Once more with sole – Cumberland Times

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