Maryland Marcellus Shale Advisory Commission
Advisory Commission meeting slated for Friday, June 15, 2012: 10:00 AM – 1:00 PM; Garrett College. The Marcellus Shale Safe Drilling Initiative will assist State policymakers and regulators in determining whether and how gas production from the Marcellus shale in Maryland can be accomplished without unacceptable risks of adverse impacts to public health, safety, the environment and natural resources….
More here.
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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!
May 2012 Real Estate Market Update - Residential
23 properties sold in May 2012, down one sale from April 2012, and down 4 sales off last year’s pace. The really great news, though, is that year-to-date, 2012 has been our most active real estate market since 2008.
Let’s take a look at the rest of the stats:
There are 57 homes under contract right now (49 last month).
The average list vs. ORIGINAL sales price was 84.91% – (last month 82.25%).
The ADJUSTED list vs sale price was 88.33 (last month 89.13%).
The current # of active/for sale listings in MRIS (minus timeshares) is 662, up from last months 636. There are about 20 properties coming on the market each week this time of the year. We have a 28.78 month supply of homes available (minus timeshares) based solely on the May sales numbers.
Random observations:
•3 ‘newer’ homes sold in May (5 years old or less)
•It appears that 14 or so of these sales were vacation homes
•12 homes sold at/under $300,000 (last month was 12)
•17 homes sold under $400,000 (last month 15)
•0 homes sold over $ 1 million (0 last month – though, we already have a nearly $2mil sale in June)
•2 home(s) sold for higher than full price or at full price (last month was 1)
•One house sold for 51.85% of asking price – 171 Garrett Rd
•The oldest home that sold was 112 yrs old (210 Roanoke Ave)
•The average age of the homes that sold was 33 years (32 last month)
•3 condo/townhouse/fractional properties sold (2 last month)
Here are the statistical breakdowns:
Average Sale Price: $312,571 (last month $318,094)
Average Days on Market: 147/224 (last month 298/435) (days on market with current broker/total days on market) – this number took a HUGE dive this month, as there were 2 homes that sold after being on the market for 1,211 and 1,546 days, respectively, in April.
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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!
ARC Awards $250K Grant To Meadow Mountain Trail Proj.
Jun. 7, 2012
The Appalachian Regional Commission (ARC) has awarded a $250,000 grant to Garrett County for construction of the Meadow Mountain Trail (MMT), U.S. Senators Ben Cardin and Barbara Mikulski announced last Thursday. The 10-mile, multi-user trail will build on the county’s efforts to expand its outdoor recreation industry, and is projected to have an economic impact of more than $3 million.
“Garrett County’s scenic treasures are also economic treasures, drawing thousands of tourists to Maryland each year to enjoy our state’s natural beauty,” said Cardin, trails/”greenways” advocate and member of the Senate Environment and Public Works Committee. “The Meadow Mountain Trail will further tourism and small business growth in Garrett County, creating new jobs and new economic opportunities for western Maryland.”
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ARC funds will be used by Garrett Trails, a nonprofit organization, to complete the MMT trail design, construct the trail, and improve two trailhead parking areas. The MMT is a key segment of the larger Eastern Continental Divide Loop Trail, which will be a 150-mile recreational trail winding through the heart of Garrett County.
The MMT segment will begin near Grantsville and the Casselman River Bridge and end near Route 495 at the University of Maryland’s 4-H center.
The trail will traverse through public lands and will be accessible to outdoor enthusiasts for hiking, biking, backpacking, trail running, cross-country skiing, snowshoeing and educational study. Job creation and financial impact stem from hikers and bikers stopping for meals and purchasing gear at the many small businesses located near the trail, and staying the night in a nearby trail town.
“This grant is about supporting jobs in western Maryland,” Mikulski said. “It is a smart investment that will help grow Garrett County’s economy, making an investment that will draw in new visitors, jobs, and economic development to the region.”
More here.
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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!
Garrett Trails will present annual Taste of Garrett June 18
Event also features run/walk up skiing course at local resort
For the Cumberland Times-News Cumberland Times-News
MCHENRY — Garrett Trails will present the 10th annual Taste of Garrett fundraiser June 18 from 6 to 9 p.m. at Wisp Resort, 296 Marsh Hill Road.
“Join us for the best Taste of Garrett ever. Come support trails in Garrett County and have a great time doing it,” said Theresa MacLennan, executive director of Garrett Trails, in a news release.
Twenty restaurants are participating in this year’s event and are providing samples of new dishes, classic favorite foods and beverages prepared, produced and served locally.
“There is no easier way to support local business as well as the construction and maintenance of the outstanding network of quality hiking and biking trails in Garrett County,” said MacLennan.
This year’s event will feature a “fender blen-der” competition, in which participants pedal to blend fruit smoothies; demonstrations, including cake decorating, and a lesson on how to carve a pineapple cheese ball. Auction items include a Kindle Fire. Entertainment will be provided by Jonny Rock.
Members of the “fender blender” red team are Titus Beitzel, Bob Gatto, Mike Getty, Peggy Jamison, Judi Prather and Dorothy Andreas. Their competitors on the blue team are David Cotton, Tom Johnson, Rick MacLennan, Rob Michael, Andie Meyers and Laura Stamm.
Entry wristbands will be sold at the door starting at 5 p.m.
Garrett Trails is also organizing the third annual Race Up The Face, a run up a black diamond ski trail. While it’s being called “the world’s hardest 400 meter run,” participants may also walk the distance.
Prizes will be awarded to the fastest male and female, as well as the youngest and oldest competitors.
That activity will begin at 5:30 p.m. with registration and check-in at 5 p.m.
A Race Up The Face registration form is available at www.garretttrails.org under the events section.
Forms also may be picked up at Savage River Lodge, the Adventure Sports Institute at Garrett College or High Mountain Sports.
More here.
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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!
Lakefront Buys Available In All Price Ranges
Lakefront property hasn’t been this affordable since 2004! (email me for stats) Here is part of a post I recently put on the Railey Realty blog:
Lakefront prices haven’t been this low for quite some time and there are some really great deals out there right now for any price range. Visit my website (i♥DeepCreek.com) or email me (deepcreeklaker@gmail.com) for more info on any of these Railey Realty listings!
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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!
Miss Queen State Visits ASCI
Jun. 7, 2012
Miss Queen State, Joanna Guy, who will be competing for the Miss Maryland title in Hagerstown from June 19 to 23, sang “God Bless America” and the national anthem at the opening ceremonies for the ASCI Whitewater Complex on May 26. She also spoke with veterans who were there through the Wounded Warrior Program.
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Area restaurants provided meals to honor soldiers throughout the week. A total of 80 wounded warriors were scheduled to be in attendance.
More here.
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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!
Finding a Sweet Treat
Jun. 7, 2012
The colorful tiger swallowtail butterfly is quite common in Garrett County, and is able to find more nectar this spring than perhaps ever before. The unusual weather patterns, which launched an early and quite flowery springtime, are continuing on the mountaintop, with colder temperatures this week (about 39 last night) than in much of March.
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The weekend is to warm again, however, with the mercury expected back into the 70s and 80s. Photo by Beth Bowers.
More here.
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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!
Oakland Receives Major Grant For Water Project
May. 24, 2012
The Maryland Board of Public Works yesterday approved more than $1.4 million in grants to improve water supply systems and protect drinking water, with half of the funds being awarded to the town of Oakland.
Grants of $785,433 from the Water Supply Financial Assistance Program were awarded to Oakland.
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The money will help fund study, design, and construction to modify the town’s Broadford Lake and Bradley Run water treatment plants to lower the concentration of disinfection by-products and improve the quality of its drinking water.
The board is composed of Governor Martin O’Malley, Treasurer Nancy K. Kopp and Comptroller Peter Franchot.
“Everyone deserves to have an adequate supply of safe drinking water. Nothing is more important to our public health,” said Governor O’Malley. “These projects protect public health while creating jobs for more Marylanders.”
More here.
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!
How long will you be underwater?
Timeline to reach desired equity position depends on 3 factors
By Jack Guttentag
Inman News®
About 16 million homeowners owe more on their mortgage than their homes are worth, which means they are “underwater.” So long as that condition continues, they have no equity that can be used to help finance the purchase of another house.
On the contrary, they can’t sell the house without digging into their pockets to pay the difference between what they owe and what they can realize from the sale net of expenses.
But time heals most wounds, and negative equity is no exception. The principal component of the monthly mortgage payment reduces the loan balance by the same amount.
Refinancing into a mortgage carrying a lower interest rate reduces the interest portion of the monthly mortgage payment, thereby increasing the principal component and the rate at which the balance is paid down.
Although underwater borrowers generally can’t qualify for a refinance, those fortunate enough to have their mortgages held by Fannie Mae or Freddie Mac comprise an important exception. The government’s Home Affordable Refinance Program (HARP) permits negative equity, though borrowers must be in good standing to be eligible.
More here.
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!
Home Affordable Refinance Program (HARP)
If you’re not behind on your mortgage payments but have been unable to get traditional refinancing because the value of your home has declined, you may be eligible to refinance through MHA’s Home Affordable Refinance Program (HARP). HARP is designed to help you get a new, more affordable, more stable mortgage. HARP refinance loans require a loan application and underwriting process, and refinance fees will apply.
+ Eligibility
You may be eligible for HARP if you meet all of the following criteria:
The mortgage must be owned or guaranteed by Freddie Mac or Fannie Mae.
The mortgage must have been sold to Fannie Mae or Freddie Mac on or before May 31, 2009.
The mortgage cannot have been refinanced under HARP previously unless it is a Fannie Mae loan that was refinanced under HARP from March-May, 2009.
The current loan-to-value (LTV) ratio must be greater than 80%.
The borrower must be current on the mortgage at the time of the refinance, with a good payment history in the past 12 months.
*Eligibility criteria are for guidance only. Contact your mortgage servicer to see if you are eligible for HARP.
More here.
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!
