By: Mike Kennedy mkennedy@railey.com 301-616-6106 April 20th, 2009 Category: Deep Creek Lake Real Estate, Garrett County Real Estate, News

The Garrett County Commissioners are seeking to increase real estate property taxes in all of Garrett County and the Deep Creek Lake area by a total of more than $2,000,000 for the next fiscal year starting on July 1, 2009. This proposal will be accomplished by setting a real property tax rate that is above the constant yield rate.

The current assessment system in Maryland provides that as property assessments rise the real property tax rate can be reduced so that the money derived from annual real estate taxes stays at a constant level from year to year - thus assuring a constant yield of revenue from annual real estate taxes.

State of Maryland law requires that the county hold a public hearing if it intends to raise the real property tax rate above the constant yield rate. The public hearing for this proposal is scheduled for tomorrow April 21, 2009 at 10:00 am in the Garrett County Commissioners public meeting room.

Since most second and vacation homeowners are not in the area mid-week - and especially during this time of the year - it’s a safe assumption that nearly all absentee property owners in the Deep Creek Lake area won’t be able to attend this meeting. If you can’t attend you can still e-mail your comments and opinions to all 3 county commissioners.

Commissioner Glotfelty - dglotfelty@garrettcounty.org

Commissioner Gregg - countycommissioners@garrettcounty.org

Commissioner Holliday - fholliday@garrettcounty.org

We would still like to see the county make some type of accommodation or come up with a better system when it comes to scheduling public meetings that have an affect on the largest portion of the tax base - which are the highest assessed properties in the county located in the Deep Creek Lake area. The county continues to schedule important meetings during mid-week when nearly all of these second and vacation homeowners simply can’t attend such a meeting. Back in 2002 and 2003 the public hearings for the proposed Transient Vacation Rental Unit (TVRU) ordinances were held mid-week when most vacation rental homeowners could not attend.

If you are concerned about your current tax assessment on your Deep Creek Lake house or Garrett County property, please give us a call or drop us a line. Maryland does have a process in place if you would like to dispute your current assessment.

(Paul Durham contributed to this post)

By: DebraSavage dsavage@railey.com 301-616-4085 April 18th, 2009 Category: Deep Creek Lake Buyer Info, Deep Creek Lake Market Update, Deep Creek Lake Real Estate, Garrett County Real Estate, Interest Rates and Loans, Obtaining a Mortgage

Why is now a good time to buy a house for sale at Deep Creek Lake or in Garrett County? Whether you are looking to purchase a vacation or second home at Deep Creek Lake, a cabin retreat in the woods, or if you are first time home buyer - there are two reasons that now may be the right time to buy real estate;

• Sellers now understand that we have not only have moved into - but are now lodged in a ‘Buyer’s Market’ and they must now properly and realistically price their home if they desire to sell in this current market.

-and-

• Interest rates are at historically low levels.

EXAMPLE; An $800,000 jumbo loan or mortgage on a vacation property at Deep Creek Lake at 6 percent on a 30 year fixed-rate mortgage will cost you $926,717 in interest over the life of the loan.  If interest rates increase just 1 percent - that same loan will now cost you $1,116,025.  That is an additional $189,308 in interest paid over the life of the loan!

A $400,000 conforming loan for a primary residence at today’s current rate of 4.75 percent on a 30 year fixed-rate mortgage will cost you $351,164 in interest over the life of the loan.  Once again, there is a tremendous amount of additional interest to pay if the rate rises just 1 percent. That 1% rate increase will cost you an additional $89,180.00 in interest over the life of the loan.

So, negotiate your best possible contract price and then take advantage of these historically low interest rates.  The current buyer’s market and low interest rates won’t last forever!

By: Al Rohrbaugh arohrbaugh@railey.com 301-616-9748 April 15th, 2009 Category: Deep Creek Lake Activities, Deep Creek Lake Area Things To Do

Exploring Deep Creek Lake in the Spring!

Many buyers who choose to purchase real estate in Garrett County and at Deep Creek Lake often base their decision on the amount of activities and recreational opportunities in the area - but sometimes there are too many to choose from! Those of us that live here full time certainly take advantage of the amount of things to do here at Deep Creek.

Every Spring I am always confronted with the same problem here at Deep Creek Lake - What to Do?

It’s time to go fishing The ice has melted, perch and walleye are spawning early spring, (bass should start early to mid-may). The Maryland Department of Natural Resources is stocking the coveted rainbow trout in Deep Creek Lake and nearby streams. It’s time to get out and fish. Get your supplies and a fishing report at Bill’s Outdoor Center or Deep Creek Hardware - in the Southern end of the county try Backbone Mountain Sports Shop.  Area favorites for lake fishing are Deep Creek Lake (of course),

(fishing deep creek lake near ski harbor)

Broadford Lake near Oakland, Herrington Manor, the Yough Dam, and Jennings Randolph Lake.  For stream fishing try Bear Creek, the Cassel man, the Yough, the little Yough, or the Potomac, to name a few, all are within 30 minutes of Deep Creek Lake.  If you want an experience with fly fishing, you may want to book a trip with Spring Creek Outfitters or Streams and Dreams.   If you have younger ones, take them on a nice day and don’t worry about catching fish - you will have your hands full keeping lines untangled and baiting hooks.  Once they get tired of fishing you will enjoy watching them  have just as much fun playing in the water, skipping stones, etc,  And remember when they say it’s time to go it’s time to go.

Spring Gobbler season in Garrett County– I never really got out in the woods much this time of year until I started hunting for the Spring Gobbler.  Around mid April hunters that partake in this activity, will be dragging out of bed at an ungodly hour in the morning to try there luck at scoring a mature gobbler.  Many times coming home empty handed, but feeling alive and blessed just to have witnessed such a beautiful sunrise, view, or maybe just hearing a gobbler on a distant ridge.  It’s amazing how the sound of a faint gobble can stop a hunter in his tracks and bring joy to his soul. Whether you’re a hunter or not I highly recommend getting up early on a spring morning, take a walk in the woods and enjoy nature in Garrett County.

Golfing- Then of course there is golf in Garrett County and Deep Creek Lake, the game that keeps me away from doing all of the things I should be doing.  As soon as the weather breaks, I’m trying to get out to either Oakland Country Club or the Wisp Resort course to hit some balls and enjoy the game. With the new golf courses planned at Thousand Acres and the Hale Irwin designed Lodestone course on top of Wisp Mountain - coming in the near future Deep Creek Lake is fast becoming a destination spot for avid golfers.

Other Popular Spring activities here at Deep Creek and in Garrett County Maryland include, Kayaking, Mountain Biking, ATV, Motorcycle Riding, and just plain  Get Out and  Enjoy a Spring Day! In the Deep Creek Lake area you can rent or buy mountain bikes and kayaks at High Mountain Sports.

So you can plainly see my dilemma. With the limited number of hours in a spring day what do I do?  Fitting all of our Spring activities, along with some necessary work is somewhat of a challenge here at Deep Creek Lake.  I guess I’ll stick with what has worked for me in the past, Sleep Less! and Enjoy Springtime at Deep Creek Lake and Garrett County more!

By: Mike Kennedy mkennedy@railey.com 301-616-6106 April 10th, 2009 Category: Open Houses

Just one open house this upcoming holiday weekend in the Deep Creek Lake and Garrett County areas. This house is located 355 Markwood Drive just outside the town of Oakland Maryland.

Click the link below for a map, directions, and more information about this house.

Deep Creek Lake and Garrett County Open House

The house is noted with a red push pin - click on the push pin for more information.

If for some reason you’d like to see this house but can’t make it this weekend, give us a call at (800) 544-2425 and we can set up a private showing.

As always you can bookmark our Deep Creek Lake and Garrett County Open House page on our website for up to date information.

By: JonBell jbell@railey.com 301-501-0735 April 7th, 2009 Category: Deep Creek Lake Real Estate

The Point View Inn - Offered at $4,995,000

MLS# GA7020479

For decades this historic waterfront site at Deep Creek Lake has offered waterfront lodging, the popular Point View Inn restaurant, Boardwalk lounge and boat docking to thousands of visitors at Deep Creek Lake. Many will remember the beautiful sunsets glistening on the waterfront while dining or just relaxing to let the day pass.

Currently the hotel/restaurants structure requires renovations or removal. A separate waterfront lounge “The Boardwalk” will continue to operate in the summer of 2009. Visions of current owners Don & Amy Nemith to build a hotel conference center or residential town homes are potentially the highest and best use of this property.

The development potential of this property is as follows;

• 610+/- Feet of Deep Creek lakefront
• Commercial Site Zoned Town Center
• Approved for a 40 Room Hotel Conference Center or 15 Residential Town homes

View http://www.pointviewforsale.com for Site Description, Proposed Land Uses, Condominium Hotel, Town Home Units, Aerial Map, Zoning, DNR, Phase I Environmental, Appraisal and Demographics.

You can also read more information about this property at Jon Bell’s Deep Creek Lake Real Estate Blog at the following link http://deepcreekhotproperties.blogspot.com/

View the Inn at Point View website at the following link: http://www.pointviewinn.com/

Listed by Rich Orr and Jon Bell. Call Railey Realty (301) 387-2000 to arrange for a private showing of the property.

By: Mike Kennedy mkennedy@railey.com 301-616-6106 April 3rd, 2009 Category: Deep Creek Lake Real Estate, Garrett County Real Estate, News

For those not following the current Maryland legislative session, two bills recently introduced could have a significant effect on Deep Creek Lake and Garrett County homeowners, planning, zoning, and growth in the not so distant future.

If passed and signed into law by the governor, HB1116 and SB 878 would impose performance standards statewide to measure the achievement of both planning and growth by the year 2018. These bills would mandate that 80% of all growth in Maryland occur in designated Priority Funding (PFAs).  In a rural county such as Garrett, the effects will be obvious especially when almost all growth occurs outside of our PFAs.

In Garrett County there are only a few PFAs - two smaller areas near the towns of Oakland and Deer Park. The Deep Creek Lake area is not located in a PFA. Less than 5% of all the land mass in Garrett County is located within a PFA!

These bills could make it possible by the year 2018 and beyond for all property and real estate owners in the Deep Creek Lake area to be denied building permits altogether- and not just those seeking to build a new house - renovations , remodeling, and additions require a building permit as well - those could be denied as well. And this won’t be limited to the Deep Creek area - other non PFA areas of Garrett County will be affected as well. The only building and growth in the county could be restricted to those few smaller PFAs in Oakland and Deer Park. These bills could also restrict MDE approval for storm water management permits which would essentially shut down new subdivisions along with townhome and condo developments in the Deep Creek Lake area as well by the year 2018.

These bills seem to make sense in other densely populated Maryland counties down state- but not a rural county like Garrett with hardly any PFAs.  This could significantly slow down second and vacation home growth altogether in the Deep Creek Lake area leading to a stagnant tax base and job losses in the building trades. Right now Garrett County has a really good situation- a majority of the tax base consists of second home owners who don’t live here full time. They pay most of the taxes needed to run the county and the schools yet they hardly use any of the services. The Garrett County Commissioners and Garrett County Board of Realtors have formally opposed these bills along with Delegate Bietzel and Senator Edwards. If you own property in Garrett County or at Deep Creek Lake and are concerned about these bills and the restrictions they could place on your property please contact your legislative representative.