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>Housing regulators propose 20% down payment for best rates

>By Zachary A. Goldfarb, Tuesday, March 29, 2:44 PM

As Washington confronted the future of American housing on several fronts Tuesday, there was no doubt that getting a home loan is going to be tougher unless a borrower has pristine credit and a hefty down payment.

U.S. bank regulators decided to propose a high standard for home buyers to get the best mortgage rates: Only those who can make a 20 percent down payment and have not had problems paying mortgages in the recent past would be eligible.

The regulators announced that plan and other proposals for new rules designed to prevent the kinds of practices that dumped so many risky mortgages into the financial system several years ago.

One of the key new regulations would require mortgage lenders to invest in the loans they make, so that if the loans went bad, the lender would suffer. In the years leading up to the financial crisis, lenders could hand off loans, many of which were high-risk, to other companies for a fee. Without skin in the game, they could then continue to make risky loans.

Read the full article here.

If you or someone you know is considering 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! I take great pride in referrals, and I assure you, I will take great care of your friends, family & colleagues! As member of the Garrett County Board of Realtors, I can assist you with ANY listed property, regardless of the listing broker.

877-563-5350 Questions about ANY listed property? I can help! Call me!
Visit the ‘I Love Deep Creek & Garrett County group’ on Facebook! News, events, photos, real estate, community, info, more! 1,750+ members & growing!

>531 South Third St – GA7549030 – $269,900

>

531 THIRD ST S
OAKLAND, MD 21550

Restored craftsman style home within walking distance to historic downtown Oakland. Upgrades include high efficiency boiler & instant, tankless hot water system. Other great features include a full acre of land, original woodwork & trim, and sun-room.

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

Listing # GA7549030
$269,900

If you or someone you know is considering 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! I take great pride in referrals, and I assure you, I will take great care of your friends, family & colleagues! As member of the Garrett County Board of Realtors, I can assist you with ANY listed property, regardless of the listing broker.

877-563-5350 Questions about ANY listed property? I can help! Call me!
Visit the ‘I Love Deep Creek & Garrett County group’ on Facebook! News, events, photos, real estate, community, info, more! 1,750+ members & growing!

>They Don't Just Sell Cookies

>

Local Girl Scout Quinn McClean is pictured as she scales a rock wall at Cooper’s Rock, Morgantown, W.Va. This is just one of multiple activities in which the local Girl Scouts engage, from rock climbing to camping, from traveling to see Broadway shows to jumping into the ocean’s surf. The Girl Scouts of America celebrated its 99th anniversary on March 12, and as the organization marches into its 100th year, local Scouts are charging ahead as well, with a wide range of events, activities, and service projects planned for this spring and summer. New members and adults volunteers are always welcome. See feature story.

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If you or someone you know is considering 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! I take great pride in referrals, and I assure you, I will take great care of your friends, family & colleagues! As member of the Garrett County Board of Realtors, I can assist you with ANY listed property, regardless of the listing broker.

877-563-5350 Questions about ANY listed property? I can help! Call me!
Visit the ‘I Love Deep Creek & Garrett County group’ on Facebook! News, events, photos, real estate, community, info, more! 1,750+ members & growing!

>Garrett County's FY 2012 Draft Budget Is Online

>

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Support the Republican Newspaper! It’s only $9.95/year for the online edition! Mar. 24, 2011 County administrator Monty Pagenhardt announced yesterday that the Fiscal Year 2012 Garrett County government draft budget is now online. Interested persons can find this link at http://www.garrettcounty.org/Commissioners/budget12/2012Requested.pdf

The document outlines various revenue sources for the county totaling $69.2 million in the coming fiscal year. The county’s income this year is $84.9 million. Proposed expenditures in FY ’12 include $28.7 million for the Board of Education, compared to $24.3 million in FY 2011; $500,000 for the Garrett County Scholarship Program, which is the same as last year’s allocation; $19.9 million for the Roads Department, which would be $3.3 million more than last year; a $200,000 decrease for public safety; and a $1.8 million decrease for economic development.

The county commissioners will approve the new budget and set county tax rates shortly before the new fiscal year starts on July 1. Read the full article here.

If you or someone you know is considering 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! I take great pride in referrals, and I assure you, I will take great care of your friends, family & colleagues! As member of the Garrett County Board of Realtors, I can assist you with ANY listed property, regardless of the listing broker.

877-563-5350 Questions about ANY listed property? I can help! Call me!

Visit the ‘I Love Deep Creek & Garrett County group’ on Facebook! News, events, photos, real estate, community, info, more! 1,750+ members & growing!

>Sound Levels for Boats on Deep Creek Lake

>By: Mike Kennedy March 27th, 2011 Railey Realty Blog The Maryland Department of Natural Resources (DNR) will hold an upcoming public hearing to discuss noise levels for boats using Deep Creek Lake. The hearing will be held on Thursday, May 26 at 6:00 pm at the Deep Creek Lake Discovery Center at the State Park. In recent years many real estate and homeowners around Deep Creek Lake have indicated a desire for more stringent noise level requirements for power boats and personal watercraft. If you can not attend the meeting and still want to voice your opinion you can contact Mike Grant who is the Regulations Coordinator for Boating Services. His e-mail address is mgrant@dnr.state.md.us If you or someone you know is considering 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! I take great pride in referrals, and I assure you, I will take great care of your friends, family & colleagues! As member of the Garrett County Board of Realtors, I can assist you with ANY listed property, regardless of the listing broker.

877-563-5350 Questions about ANY listed property? I can help! Call me!

Visit the ‘I Love Deep Creek & Garrett County group’ on Facebook! News, events, photos, real estate, community, info, more! 1,750+ members & growing!

>Pending home sales unexpectedly rise in February

>WASHINGTON | Mon Mar 28, 2011 10:59am EDT

WASHINGTON (Reuters) – Pending sales of previously owned U.S. homes unexpectedly rose in February, a trade group said on Monday, pointing to a modest pick-up in home sales.

The National Association of Realtors said its Pending Home Sales Index, based on contracts signed in February, increased 2.1 percent to 90.8.

Economists had expected the index, which leads existing home sales by a month or two, to fall 1.0 percent after a previously reported 2.8 percent decline.

Read the full article here.

If you or someone you know is considering 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! I take great pride in referrals, and I assure you, I will take great care of your friends, family & colleagues! As member of the Garrett County Board of Realtors, I can assist you with ANY listed property, regardless of the listing broker.

877-563-5350 Questions about ANY listed property? I can help! Call me!
Visit the ‘I Love Deep Creek & Garrett County group’ on Facebook! News, events, photos, real estate, community, info, more! 1,750+ members & growing!

>True Sign Of Spring – Republican Newspaper

>

A search for a favorite harbinger of spring was rewarded last Saturday to Mtn. Lake Park resident and wildlife photographer Fran Pope. What she was looking for, and found, was this “mourning cloak” butterfly (Nymphalis antiopa) resting in a sunny spot in the Potomac State Forest. Adult mourning cloaks are probably the longest-lived butterfly in North America, Pope said, some surviving in excess of 10 months. Often the species is the first butterfly seen in the spring because they overwinter as adults. This one shows a little wear and tear, Pope noted, but not so bad for spending a cold winter tucked into a safe place in the woods, perhaps a hollow tree. Mourning cloaks, which in 2001 were named the Montana state butterfly, are found almost everywhere throughout North America and range south to central Mexico. Hopefully he will weather today’s chilly temps and flurries, which are to continue on and off for several days.

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Support the Republican Newspaper! It’s only $9.95/year for the online edition!

If you or someone you know is considering 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! I take great pride in referrals, and I assure you, I will take great care of your friends, family & colleagues! As member of the Garrett County Board of Realtors, I can assist you with ANY listed property, regardless of the listing broker.

877-563-5350 Questions about ANY listed property? I can help! Call me!
Visit the ‘I Love Deep Creek & Garrett County group’ on Facebook! News, events, photos, real estate, community, info, more! 1,750+ members & growing!

>Annapolis Notes – March 28

>Bonding over shale

A debate over Western Maryland’s Marcellus Shale geologic formation, a rich natural-gas reserve, divided urban and rural legislators and pitted Republicans against Democrats — which, some say, is two ways of describing the same thing.

Del. Wendell R. Beitzel, R-Garrett, backed drilling as a boon for Western Maryland and tried several times to defeat or amend the bill, but skeptics say the drilling method has potential dangers.

The formation is in Garrett County and parts of Allegany County. (An analysis of the bill states that it’s in Washington County, too, but Beitzel said that’s not true.)

The final vote was 98-40, mostly with Democrats supporting the slowdown and Republicans opposed.

One exception was Del. John P. Donoghue, D-Washington, who voted with local Republicans, including Beitzel, LeRoy E. Myers Jr., Andrew A. Serafini, Neil C. Parrott and Michael J. Hough.

Afterward, Donoghue said Marcellus drilling is an economic issue, particularly as energy prices soar.

“I think the folks in Garrett County probably need an injection of some good luck,” he said. “And if it comes through the drilling, I think that’s terrific. They can desperately use the jobs and the money.”

Read the full article here.

If you or someone you know is considering 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! I take great pride in referrals, and I assure you, I will take great care of your friends, family & colleagues! As member of the Garrett County Board of Realtors, I can assist you with ANY listed property, regardless of the listing broker.

877-563-5350 Questions about ANY listed property? I can help! Call me!
Visit the ‘I Love Deep Creek & Garrett County group’ on Facebook! News, events, photos, real estate, community, info, more! 1,750+ members & growing!

>Garrett taking varied approaches to development

>Jeffrey Alderton
Cumberland Times-News The Cumberland Times-News Mon Mar 28, 2011, 08:00 AM EDT

OAKLAND — Garrett County is pursuing economic development on several fronts, including investing in the county’s high school graduates by offering them two-year scholarships to attend Garrett College.

For the past several years, Garrett County has offered to pay full tuition for students who are completing their final year of high school.

Whether pursuing education in the academic field or technical training, the county will pay tuition for two full years at Garrett College. The funds are paid through the Garrett County Scholarship Program.

At a cost of several hundred thousand dollars annually, the county foots the bill not only for its high school seniors enrolling in Garrett College, but also for graduates of GED programs.

“We think the best thing we can do is prepare young people for a career,” said Jim Hinebaugh, director of Garrett County Economic Development. “We have also expanded the program from academic training to vocational and technical training.”

According to Decision Data Resources, Demographic Details Comparison Report of October 2010, the median household income (middle of the income range) in Garrett County was $44,908 and the average household income was $58,997. Per-capita income was recorded at $26,449, according to the report that showed a total of 12,969 households in Garrett County.

By comparison, the average in the nine-county region that includes Allegany, Garrett, Bedford, Fayette, Somerset, Grant, Mineral, Preston and Tucker counties with a total of 181,772 households was $37,612 for median household income, $49,335 average household income and per-capita income of $21,133.

Labor force statistics from the same report showed unemployment in September at 6.9 percent in Garrett County with the average in the nine-county region at 9.1 percent. There were 16,369 people in the labor force that month in the county with 1,125 unemployed. The county’s unemployment rate stood at 8.3 percent in December.

The county will receive $1.9 million in business utility taxes from Constellation Energy’s 28 wind turbines on Backbone Mountain and 20 wind turbines operated there by Synergics. The revenue will reduce to $850,000 per year after a 22-year depreciation schedule.

Also, Garrett County is awaiting legislative developments that may allow drilling in the vast natural gas-bearing Marcellus shale rock formation. Geologists have estimated resources of 128,000 acres of viable natural gas in all of Garrett County.

If approved through legislation and regulatory procedures, the Marcellus shale industry will bring royalties and leasing revenue to landowners and subsequent severance and income tax revenue to the county. Businesses in Garrett County will benefit by providing ancillary services to the industry such as excavation work, food service, worker housing, supplies, road building materials, fuel, etc.

Drilling for natural gas in Marcellus shale is already under way in nearby Pennsylvania and West Virginia.

Contact Jeffrey Alderton at jlalderton@times-news.com

If you or someone you know is considering 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! I take great pride in referrals, and I assure you, I will take great care of your friends, family & colleagues! As member of the Garrett County Board of Realtors, I can assist you with ANY listed property, regardless of the listing broker.

877-563-5350 Questions about ANY listed property? I can help! Call me!
Visit the ‘I Love Deep Creek & Garrett County group’ on Facebook! News, events, photos, real estate, community, info, more! 1,750+ members & growing!

>Delegates send $14.6 billion budget to Senate

>Annie Linskey reports:

The House of Delegates voted Thursday to approve a $14.6 billion plan to fund day-to-day state government operations, over the vehement objections from Republicans who had pushed for deeper cuts and opposed new fees.

Delegates voted 97 to 42 to approve the budget, with one Republican joining the Democrats to support the plan.

The budget calls for Marylanders to pay higher fees at the Motor Vehicle Administration to register new vehicle titles or use vanity license plates. Fees for recording land transactions would also go up.

The budget doesn’t contain any new taxes — yet. The plan now goes to the Senate, where a key committee voted yesterday to raise the sales tax on alcohol from 6 percent to 9 percent, an increase that would be phased in over three years.

House Democratic leaders touted extensive behind-the-scenes work during the first ten weeks of the legislative session to rejigger spending within Democratic Gov. Martin O’Malley’s plan and restore $60 million in cuts to education. Their reworked plan would also give counties and cities some more money to fix roads.

Read the full article here.

If you or someone you know is considering 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! I take great pride in referrals, and I assure you, I will take great care of your friends, family & colleagues! As member of the Garrett County Board of Realtors, I can assist you with ANY listed property, regardless of the listing broker.

877-563-5350 Questions about ANY listed property? I can help! Call me!
Visit the ‘I Love Deep Creek & Garrett County group’ on Facebook! News, events, photos, real estate, community, info, more! 1,750+ members & growing!