Archive for June, 2012

Gran Fondo Ride in Garrett County Set for this Weekend

Carol Wills By: Carol Wills
cwills@railey.com
571-214-3544
June 20th, 2012
Category: Deep Creek Lake Activities, Deep Creek Lake Area Things To Do, News

The 3rd annual Garrett County Gran Fondo in scenic and mountainous western Maryland will be held on June 23, 2012. Garrett County and the Deep Creek Lake area boast some of the finest and most challenging cycling in North America, and in just two years of sold-out rides the Garrett County Gran Fondo has established itself as a premier North American Gran Fondo.

Last year I had the privilege of being a SAG Wagon Driver for this event. It was so much fun and the cyclists were so appreciative of our help and support. This year I will be back as a SAG Wagon Driver supporting the cyclists for   “Garrett’s Greatest 25″ - A beautiful 25 mile ride through the rolling Garrett County farmland with a challenging 3 mile climb to the finish atop Wisp Mountain.

carol_wills_car_real_estate_deep_creek1This Event benefits the Joanna M Nicolay Melanoma Foundation. For more information about this event go to http://www.winthefight.org/granfondo/.  Take time to read the comments as they are a fun read.

Look for me and my car around the course!!  Carol Wills, Railey Realty

Lakefront Buys Available In All Price Ranges

Jay Ferguson By: Jay Ferguson
jferguson@railey.com
301-501-0420
June 4th, 2012
Category: Deep Creek Lake Buyer Info, Deep Creek Lake Real Estate

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!

$139,000 - Fractional properties at Creekside
Fractional ownership has its advantages - being on the lake for $139k in one of the nicest lakefront townhome communities at Deep Creek Lake, Creekside, is one of them! Another advantage is the sweet Bennington pontoon boat they just purchased for owner usage - you pay only for the gas! It’s not a timeshare; they work much differently and you actually own a deeded 1/8 share. They are professionally managed, incredibly well appointed, and now you can ’swap’ time at other locations throughout the year, including Wisp Ski Resort, several locations in North Carolina and even Costa Rica. More photos here.

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$189,000 - Unit 108B Will o’ the Wisp
A Deep Creek Lake legend - Will o’ the Wisp condominiums. A lakefront condo that is close proximity (~ 1/4 mile) to the Creamery, the Honi-Honi bar, Garrett 8 Cinema’s and Arrowhead Deli & Grocery. First floor units are coveted because they walk directly out to the water, a sandy beach and your deep water dock slip. The hotel has a lakeside restaurant onsite, indoor pool, hot tub, fitness center, laundry facilities, outdoor swimming area and even an arcade. And they are income-producing! Front desk management and hotel staff make overnight & weekly rentals a breeze. More photos here.
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$299,900 - #3 Ski Harbor Dr
I’m a huge Ski Harbor fan. That’s the first community I ever invested in at DCL, and one of the biggest reasons was the location & amenities. There’s over 1,700 ft of lakefront - more than virtually any other condo/townhouse community. It’s surrounded by no-wake zones on both sides of a peninsula, meaning quiet and calm waters to kayak, fish or swim. Your dock slip just outside your door, and the best seat in the house for the 4th of July fireworks just across the water at Wisp. Add an indoor pool, tennis court & beach volleyball - a great combination of amenities! More photos here.
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$350,000 - 519 Hazelhurst Rd

2 bedroom lakefront cottage at Hazelhurst. You won’t find a better lot in this price range with 2BR cottage already in place & a newer 2 car garage to park your boat and store your toys.
Mature trees offer plenty of shade and you have wide views of the lake on 50 feet of frontage. The Type A dock allows 2 power boats - most other homes in this range only have one boat slip available. And Hazelhurst is a great community to live in on the lake, tucked away on the southern shores of Deep Creek. More photos here.
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$554,900 - 755 Rock Lodge Rd

Want to be closer to the action? This 3BR cottage on Rock Lodge has 1.59 acres of land and a whopping 228 feet of water front. This home is close to the Wisp Ski Resort and Deep Creek Lake State Park, as well as activities and restaurants. It was originally built in 1937 and upgraded over the years. It features solid wood beams and wood stove in the living room. It also has a Type A dock, deep water and great views of the northern areas of the lake. You can watch boats passing by all day from your yard or your deck. More photos here.
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$595,000 - 6 WALTON WAY ROAD, #3

Lakefront property with a newer home - Waltons Landing offers a quality home built by Nemith Builders. Built in 2008, this is a 3 level chalet and is decked out w/ custom granite, ceramic tile, hardwood floors and modern kitchen finishes. Lakefront area offers a 5-slip common dock & a ‘no wake’ cove. This property is in the heart of McHenry and is a very short distance to Ledo’s pizza, McHenry Beverage Shoppe, and Funland. Wisp is just around the corner. Excellent potential to rent as a vacation home! More photos here.
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$649,000 - 3273 LAKE SHORE DR

A vintage cottage on prestigious Lake Shore Dr. with over 2,000 square feet of living space. 100ft +/- of premium lake frontage with buy-down (additional lakefront land). This updated home is constructed of redwood, offers 6 bedrooms and 2 1/2 bath, and has a wood burning fireplace. It has a master bedroom with sitting room on the main level. Enjoy breath-taking sunsets from the grassy lakefront lawn. It also comes with a private dock for 2 power boats (Type A), and offers deep water. More photos here.
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$699,000 - 161 BLACK ANGUS DR

A very private 3 bedroom lakefront home in Pergin Farms. This is a great spot further south on Deep Creek Lake. The setting driving in to this community is amazing - beautiful farm land and some of the nicest estates on the lake can be found here. The waterfront is amazing and multiple decks offer room for entertaining and enjoying the outdoor setting. Offers Type A dock, and 150 feet of lakefront. The house features a 2nd living/family room, wooden ceilings & beams, and a stacked stone wood-burning fireplace. More photos here.

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$799,000 - 1157 MARSH HILL RD

Location, location, location! Arguably the best address on Deep Creek Lake - Marsh Hill Road offers year-round enjoyment and easy access to Wisp Ski & Golf Resort - 3 doors down from Main Street and a chairlift. This home offers 3,200 square feet of living area, 4BR and 3BA. Enjoy 2 fireplaces, a rec room with wet bar and 500 sq ft of screened porch area. It’s an established vacation rental with 2 dock slips and a 100ft lot with deep water access. More photos here.
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$849,000 - 3445 TURKEY NECK RD

Everything you need on one level at Turkey Neck - a classic Deep Creek Lake community. A well maintained 4 bedroom, 3 bath home with central A/C on a level, private lot. An abundance of mountain laurel and rhododendron keep it green year round, and the mature trees that sprinkle the lawn offer ideal locations for a lakeside hammock. Over 1,000 sq ft of lakeside decking, Type A dock, and HUGE views of the lake. Eastern exposure will help you wake up to a beautiful day on the lake!
More photos here.
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$965,000 - 22181 GARRETT HWY #H

Lakeside decking with some of the best views DCL has to offer.
About as close to the water as you can get!

EVERYTHING you want in a Deep Creek Lake vacation home can be found ‘At Lake’s Edge’. 6 large bedrooms, 5 bathrooms, 3 separate living areas, and HUGE lake views from almost every room in the house. Approx. 3,200 sq ft, 2 massive stone fireplaces, eat-in kitchen, loft with pool table, multiple master suites and walkout level rec room. Let the rental income pay the bills - this is one of the highest income producing homes under $1 million AT DEEP CREEK LAKE. (email for financials). Picturesque waterfront that is hard to find, deep water & dock slip. Lakeside decks, hot tub, well appointed & virtually turn-key. Condo. land means you will always own the building lot but the community maintains it all. Buy now and you receive future rental income that’s already booked for 2012 and 2013. Well maintained and constantly upgraded. More photos here.

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There are excellent options out the on the water this summer - and these are just a few of the many quality lakefront properties currently on the market. If you are thinking of buying or upgrading your current DCL property, there hasn’t been a better time to make the jump to lakefront property in a long time! Take advantage of historically low interest rates and a buyers market and start living your Deep Creek Dream today!

You’ve only seen a fraction of what is out there for sale right now. Contact me and I can email you my advanced search tools to see all the available options at Deep Creek Lake & Garrett County, Maryland - there are spectacular deals on properties for any price range!

Increase to Non Resident Withholding Rate on Property Sales

Mike Kennedy By: Mike Kennedy
mkennedy@railey.com
301-616-6106
June 1st, 2012
Category: Deep Creek Lake Real Estate, Garrett County Real Estate

Effective June 1st the withholding rate for non-Maryland residents who sell property in the state of Maryland is increasing 0.25% to 7.00%. This withholding does not apply to Maryland residents.

Garrett County has numerous property owners who aren’t full time residents of Maryland that own vacation homes and real estate on or around Deep Creek Lake. Some owners are full time residents from northern Virginia, Washington D.C, and Pennsylvania that will be affected by this law change.

It’s important to note this is not a new tax. It’s simply a withholding. The withholding is calculated as follows at settlement;

The net amount of the purchase price of the house being sold less closing costs less any mortgage balance x 7%.

The closing attorney will withhold this amount at closing for any non-resident seller. It’s then up to the seller to file a Maryland Income tax return to determine whether more is owed for Maryland capital gains tax or if the seller is owed some type of refund.

Give us a call if you are thinking about selling your Deep Creek Lake or Garrett County property. As the area’s largest real estate company we can help you with all your selling needs.