Jay's Real Estate Blog – Page 352 – Find out about Real Estate in Deep Creek Lake

Autumn Glory Photo Gallery – Karlo Photography

My good pal Karlo has his Autumn Glory photo gallery posted on his website. AMAZING PICS, I’m sure you will agree. It seems like he was EVERYWHERE taking photos!

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

Deep Creek Do It All specializes in cleaning services in Garrett County & @ Deep Creek Lake. Give them a call (301-501-0217) or visit the website – competitive rates and quality results from a locally owned & operated company!

September Home Sales – Market Update – Deep Creek Lake

I am a little late in publishing these numbers this month, but I have a good reason…Autumn Glory kept me sidetracked for much of the weekend and even in to this week. What a great time of the year – the leaves peaked from Saturday afternoon until about mid-day Monday. Keep an eye on this blog for links to the photo galleries from all of the county – I got some great photos!

We had 39 home sales in the month of September 2010 (versus 26 sales in September 2009). Another sizable increase from last month (32 total sales), as well as being the most productive month of the year, I believe.

There are 50 homes under contract (sale-pending), down from last month (67). This number should continue to drop steadily until we enter the next ‘season’ for tourists and visitors to return to the county for extended stays.

The average list vs. ORIGINAL sales price was 82.63%, down from last month (87.31%).

The ADJUSTED list vs sale price is 89.63% down 2% from last month (91.80%).

The current number of active/for sale residential listings (minus timeshares) is 751 as of today, down from last month (775). I expect this number to drop in the coming months, as most sellers remove their home from the market in the late fall/winter months, but even at this pace, it’s a 19 month supply of homes (last months pace was 24 month supply).

Random Observations:

There were 9 ‘newer’ homes that sold this month.
There was a lakefront home that sold for $399,900
24 of the 39 homes sold for less than $300,000.
Highest sale was $1.150 million on Marsh Hill Rd.
3 houses sold for full price.
1 home sold for 50% of asking price – next lowest, 79%
19 of these sales were lake area or vacation homes.
The rest (20) are primary residential homes scattered around Garrett County.
Average age of the home sold was 23 years old
2 sales at Wisp Resort – one at Kendall Camp & the other at North Camp
5 condo’s/townhouse properties sold
2 sales above $1 million, both lakefront homes

Here are the statistical breakdowns:

Average Sale Price: $317,014 (last month $367,780)

Average Days on Market: 187/226 (last month 163/182) (days on market with current broker/total days on market).

I’ll update this later this week with how Railey Realty fared in the sales numbers.

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

Naylor Trust Makes Major Donation To Garrett College

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The Garrett College Foundation recently received a major gift from the Howard and Audrey Naylor Trust through the Community Trust Foundation to establish the Audrey Naylor Scholarship Endowment. The endowment will provide scholarships primarily for adult students. Presenting a check for $200,000 to Dr. Jeanne Neff, chairperson of the GC Foundation board, in the above photo is Shane Grady, chair of the Community Trust Foundation which is the agency that dispenses the funds of the Naylor Trust, among others. Also in the photo is Fred Learey, executive director of the GC Foundation. See story.

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

Pam Trickett Honored At Autumn Glory Festival Kickoff

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PAM TRICKETT HONORED AT KICKOFF – The Honorary Golden Ambassador for the 2010 Autumn Glory Festival is Pam Trickett, who was so designated last night at the festival kickoff reception, held at the Wisp Resort in McHenry. Trickett is currently in her third term as a member of the Garrett County Chamber of Commerce board of directors and has been on the Autumn Glory Committee for nine years, for which she currently serves as chairman. She has also chaired the festival’s banjo and fiddle contests and is the founder of the county’s newest festival, the Festival of Trees, held over Thanksgiving. A native of Garrett County, she has been employed by WKHJ Radio for the past 11 years. Pictured above with Trickett are past Honorary Golden Ambassadors who assisted with the presentation. From left are: Jerry Geisler, Ruth Beitzel, Asa McCain, Trickett, Judy Devlin, Karen Myers, Ernie Gregg, Bob Rudy, Randy Rodeheaver, and Jeff McCauley. Photo by Katie Tasker, Garrett County Chamber of Commerce.

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

Ground Broken For New Dove Center

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Oct. 7, 2010

Dove Center staff and board members, supporters, and local officials broke ground last Friday for the construction of a new facility off Memorial Drive in Oakland. The center’s executive director, Heather Hanline, called the event a huge accomplishment. “I can’t think of a better way to kick off National Domestic Violence Awareness Month than to be breaking ground on our new facility, which is the product of years of time and effort, creativity, generosity, and community support,” Hanline said. The center was spearheaded 20 years ago by a small grassroots effort to address the needs of domestic violence and sexual assault victims.

Hanline noted the facility had a “humble beginning,” with just two staff members in a small office in downtown Oakland. Since then, the center has grown in an effort to meet an increasing need for its services. About two years ago, a capital campaign was launched to construct a new facility, which will include storage space, offices, and safe, secure shelter for victims. The campaign has raised nearly $300,000 in donations and garnered a $800,000 Community Development Block Grant from the Maryland Department of Housing and Community Development. Hanline said she hopes be able to move into the new center by this time next year.

Read the rest 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

Garrett, Allegany Colleges Awarded ARC Grant Funds

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Oct. 7, 2010

The Appalachian Regional Commission (ARC) has awarded Garrett College and Allegany College of Maryland competitive federal grant funds to upgrade on-campus facilities, providing better opportunities to students and making them more prepared to enter the workforce, according to U.S. Senators Barbara Mikulski and Benjamin Cardin.

Garrett College was awarded $75,000 to make equipment purchases and train faculty in its Networking Program, enhancing the curriculum to offer multiple, industry-recognized certifications and training in the advanced technical skills necessary to manage computer networks using Cisco, a leading computer networking software.

“To help make sure all Americans are ready for the jobs of the 21st century, we must have state-of-the-art education resources today,” Mikulski said. “Community colleges are providing the 21st century education we need to have a 21st century workforce. Technology is the tool and empowerment is the objective, and this money is a federal investment to do just that.”

Allegany College was awarded $54,000 for the Workforce Development Through Smart Classroom Technology Program, designed to improve and upgrade worker training programs at the college by turning ordinary classrooms into “smart” classrooms that include computers, projector screens, and interactive audience tools. Allegany College expects to use the new facility to train more than 200 workers in healthcare and general office/business skills within the next year.

A second grant in the amount of $30,000 was awarded to Allegany College to upgrade six computer labs used for science and continuing education, providing an additional 700 students with the most current technology.

“Education is the key to economic success and our local colleges are on the frontlines providing the training and skills that are needed to succeed,” said Cardin. “Residents of western Maryland need access to the high-level technology that is needed for the workforce, and these grants will ensure that our local colleges can provide the training that is needed for jobs of the future.”

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

Md. Transportation Secretary Reports "Good News" About State's Economy

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Oct. 7, 2010

Maryland Department of Transportation Secretary Beverley Swaim-Staley said she had “a little bit of good news to share” during her department’s annual meeting with Garrett County officials and residents last Friday morning at the courthouse in Oakland.

Each fall, transportation and highway officials visit every county in the state to present their six-year Consolidated Transportation Program draft and to review local issues.

Swaim-Staley said Maryland had a “good summer.” She pointed to such recent “transportation indicators” as increases in passenger counts at BWI Airport, goods moving through the Port of Baltimore, commercial traffic going through Maryland toll facilities, and vehicle titling tax revenue as signs the state’s economy is improving.

“We anticipated there would be a turnaround, and we are seeing that,” the secretary said. “So, hopefully, we can grow, based upon that good news.”

She noted that two years ago her capital budget was cut by 30 percent, or $2.5 billion. But $650 million in stimulus funding enabled the DOT to keep up with its safety and systems preservation programs.

Swaim-Staley said $8 million of that federal money was used for highway improvements on state roads in Garrett County. The county itself received $1.2 million for its resurfacing projects. Garrett Transit was awarded $.5 million for transportation.

Neil Pedersen, state highway administrator, reported that the Rt. 219/Oakland bypass project was still on hold until the economy improves. He noted that all the planning for the 2.4-mile project was completed, while the engineering portion was 85 percent finished.

Pedersen added that all but three properties needed for the project have been purchased.

Read the rest 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

Wind Turbine Rep Issues Correction About Statement

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Oct. 7, 2010

Local Constellation Energy representative David Wagner has issued a correction about a statement he made during an update report he presented to the Garrett County commissioners last Tuesday about his company’s Criterion wind turbine project along Backbone Mountain.

As was reported in the last issue of The Republican, Wagner told the commissioners, “As of last week, we had 200 people on-site, and the statistics indicate about 75 to 85 percent of those folks are locals.”

After receiving a call from a local resident challenging this statement, Wagner said he reviewed the contractor reports and discovered that his statement was incorrect.

“After reviewing the reports for the months of June, July, and August, the most recent months for which data were available, an average of 64 percent of the Criterion workforce were classified as local employees,” Wagner said in an e-mail yesterday. “Local employees include tradespeople hired through the union local, and local non-union and management employees.”

He added that throughout the construction phase of the Criterion project, Constellation Energy has made a concerted effort to be up-front, timely, and transparent in its communications with the community and the local government.

“However, my initial calculation of the percentage of the workforce that were local hires was simply incorrect,” Wagner said. “I regret this error and apologize for any confusion this may have caused.”

Read 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

Commissioners Pay Off County's $1.7 Million Debt

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Oct. 7, 2010

The Board of Garrett County Commissioners voted last Tuesday to pay off in its entirety the county’s nearly $2 million outstanding general obligation bond debt, officially known as the County Commissioners of Garrett County Public Facilities Bonds of 1996. There was no penalty for paying the loan off early, according to county officials.

The bonds had a 20-year life and were scheduled to mature on May 1, 2016. As of last Tuesday, the principal remaining was $1.715 million, and interest calculated on the remaining principal totaled $358,265, according to the Garrett County Department of Financial Services.

Commissioner Fred Holliday made the motion to pay off the bonds, and Commissioner Ernie Gregg seconded it. Commissioner Denny Glotfelty was unable to attend the meeting.

“The reason I wanted to do that is to leave the county totally debt free,” Holliday said about his motion. “We have some new funds coming in next year, and I just wanted to have them (the bonds) paid off.”

Except for Enterprise Funds used by the Garrett County Department of Public Utilities, Solid Waste and Recycling, and the airport, the county is now debt free, he and Gregg noted.

The bonds were issued in 1996 for a total of $4 million, and the proceeds were used for construction and improvement of public schools and roads/bridge projects. Specifically, those were construction of Yough Glades Elementary School; the Northern High School classroom addition, auxiliary gymnasium, and stage; Southern High School connecting corridor, gymnasium, foyer, and stage area; Savage River Road and Glendale Road bridges; and Wilson, Rock Lodge, Community College, Shady Dell, and Spring Lick roads.

By redeeming the bonds and paying off this debt, the county will realize a savings of approximately $350,000 in debt service interest, noted county administrator Monty Pagenhardt.

“Furthermore, over the next five fiscal years, the county will have an average of $346,344 in annual principal and interest payments ($1,731,720 in total) that will no longer need to be budgeted for this specific debt and can be directed toward other operating expenditures,” he said.

Also taken into consideration in the decision to pay off this bond were the high coupon rates accompanying this bond ranging from 5.4 percent to 5.75 percent to maturity in 2016, he added.

“If borrowing should become a necessity in the future, the county is confident that a loan with lower interest rates could be obtained,” Pagenhardt said.

Every year during the auditing of the county’s financial transactions, the unrestricted fund balance, or rainy day fund, of the county is evaluated.

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

Fall Foliage Update

From theBay.net
MARYLAND – 10/11/2010

Welcome to the Fall Foliage and Festival Hotline, brought to you by the Maryland Office of Tourism and the Maryland Department of Natural Resources.
Well, the fall foliage is nearing peak in Garrett County and we’re getting word from Deep Creek Lake State Park that there is an abundance of gorgeous color to be seen. The region is basking in the glow of Indian summer with fantastic foliage conditions. In neighboring Allegany County, the leaves are still about a week, week-and-a-half from peak, with Washington and western Frederick counties expected to follow closely behind.

Reports from Green Ridge State Forest in Allegany indicate current conditions there are simply glorious. The maples and dogwoods have turned vibrant red, the hickories a golden yellow, the black gums, an orangish-red. Virginia creeper winding itself around the hickories is showing up a blazing scarlet, and the oaks are just now starting to change. The weekend should be mild and clear, with daytime highs in the low-70s and overnight temperatures falling into the mid-40s. So pack a couple sweaters and a jacket and you’ll be all set for a lovely weekend exploring the western wilds.

On your way out to Garrett County, consider making a stopover in Green Ridge State Forest, again reporting near-perfect conditions, and check out DNR’s self-guided driving tour of the forest. The “Fall Color Tour Guide” not only provides route descriptions through Green Ridge, but adds a bit of local folklore and historical information about the area as well. The complete tour is approximately 30 miles long and makes an enjoyable three-hour scenic drive, taking you through a change in elevation from 450 feet along the Potomac River to 1800 feet at the top of Town Hill. Spectacular vistas allow for views into the neighboring states of West Virginia and Pennsylvania, so don’t forget to take along your binoculars, cameras and field guides. Copies of the tour guide are available at the park’s headquarters.

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

Autumn Glory Photo Gallery – Karlo Photography

September Home Sales – Market Update – Deep Creek Lake

Naylor Trust Makes Major Donation To Garrett College

Pam Trickett Honored At Autumn Glory Festival Kickoff

Ground Broken For New Dove Center

Garrett, Allegany Colleges Awarded ARC Grant Funds

Md. Transportation Secretary Reports "Good News" About State's Economy

Wind Turbine Rep Issues Correction About Statement

Commissioners Pay Off County's $1.7 Million Debt

Fall Foliage Update

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