By: Mike Kennedy mkennedy@railey.com 301-616-6106 June 16th, 2010 Category: Deep Creek Lake Buyer Info, Deep Creek Lake Market Update, Deep Creek Lake Real Estate, Garrett County Real Estate, News

It is no secret that the local real estate market experienced a challenging year in 2009, but as we move closer to the 2010 summer selling season there are signs of increasing momentum and improvement. If the current trends continue, we can hopefully look back and note that 2009 was the bottom. Some trends we are seeing include:

• Buyer interest and activity is well ahead of last year’s pace. Lakefront residential transactions are up 70% from the same period last year.
• There have been five (5) $1 million dollar plus sales this year compared to only three (3) last year at this time.
• A lakefront property in The Reserve at Holy Cross just sold for a record $3.5 million. Railey Realty was the listing broker for this sale. This is the first reported $3 million plus lakefront residential sale.
• The number of pending contracts is greater now than it was last year at this time.
• New residential construction and housing starts have stabilized. Through May, total building permits issued for new single family home starts in Garrett County is nearly at the same level experienced for all of 2009.
• Distress sales, short sales, foreclosures, and bank owned properties in Garrett County and the Deep Creek Lake area are still few and far between in this market.

The area continues to add amenities such as the under construction Community Athletic Recreation Center, just opened Lodestone and Thousand Acres golf courses, and a new Zip Line Canopy Tour Ride at Wisp Ski Resort. The Deep Creek area offers an abundance of activities and attractions families can enjoy year round.

If you are a prospective buyer, now may be the perfect time to purchase.  Interest rates remain low, and there is a great selection of properties to choose from.   Right now is a great time to take advantage of these benefits and capitalize on the historical strength found in this four season resort market.

If you are in the selling process it is very important to not over-price your property.  “Testing the market” in this environment is not the best path to take.  Today’s buyer is well informed and will not make offers on obviously overpriced properties.  As a result, the over-priced properties do not sell, and as other owners market their property, inventory increases.  This ultimately drives prices down.  Our advice is to offer your property for sale when the time is right for you and price your property competitively. One simple fact has remained true - properly priced homes in good condition are selling in this market.

If you are considering selling and would like to know the value of your property, Railey Realty will provide you with a free, no obligation, competitive market evaluation.  Please contact your agent or call us at 301-387-2000 for details.  As Deep Creek’s leading brokerage we look forward to helping you with all your real estate needs.

By: Mike Kennedy mkennedy@railey.com 301-616-6106 June 11th, 2010 Category: Deep Creek Lake Buyer Info, Deep Creek Lake Market Update, Deep Creek Lake Real Estate, News

Railey Realty is proud to announce its participation as the listing broker in the highest lakefront residential sale recorded at Deep Creek Lake. The upscale, nearly 14,000 square foot home when finished, was recently sold for $3.5 million. The home was built in 2007 and is located in the Reserve at Holy Cross which is a private lakefront/lake access community. The property features stunning, unobstructed views of Deep Creek Lake from most rooms, 4 bedrooms, 3 full baths, nearly every upgrade you could imagine in a high-end home, and a boat dock permitted for 3 power boats. The couple who purchased this home is from the Pittsburgh area and plan on using it as a vacation home.

This is the first sale over $3 million at Deep Creek Lake and is the highest sold price for a residential property since 2007, when another lakefront house in The Reserve at Holy Cross sold for $2.8 million.

If you are thinking about buying or selling lakefront property on Deep Creek Lake, give us a call or send us an e-mail. As Deep Creek’s leading real estate brokerage, we can assist you with all your real estate needs.

By: Mike Kennedy mkennedy@railey.com 301-616-6106 June 2nd, 2010 Category: Garrett County News, News

There is no new progress to report on the proposed changes to the lake regulations dealing with how many personal watercraft may be moored at private Type A and common boat docks. This proposed regulation would essentially get rid of all the PWCs stands that can found along the shoreline. Deep Creek Lake Manager Carolyn Mathews has stated that during the public comment period the DNR received several very detailed comments and concerns against the proposed changes to the lake regulations

Ms. Mathews also reported that the Superintendent of the Park Service, Nita Settina, found the comments to be of merit and is giving them due consideration before moving forward with any changes. Ms. Settina plans to visit Deep Creek Lake this summer and will weigh the points brought forth in the comments against the proposed regulation changes and may suggest an alternative to the proposal.

The public comments on the changes are posted on the Deep Creek Lake website at…

http://www.dnr.state.md.us/publiclands/western/deepcreeknrma.asp

Updates will be posted on this website as they are made available. This is the new DNR website for information about the lake. This site is separate from the state park website and will have more lake specific information posted over time.

By: Mike Kennedy mkennedy@railey.com 301-616-6106 May 26th, 2010 Category: Deep Creek Lake Real Estate, Garrett County News, Garrett County Real Estate, News

Yesterday morning, the County Commissioners approved the proposed revisions to the three main county land use and development ordinances - the Deep Creek Lake watershed zoning ordinance, the county subdivision ordinance, and the county sensitive areas ordinance. This completes a process that began in May 2009.

The Planning Commission proposed the final revisions following a public hearing in March. The Garrett County Commissioners accepted the proposal without any changes and approved it as drafted by the Planning Commission.

The changes become effective June 1, 2010. They will soon be available on the county web site at http://www.garrettcounty.org/PlanningLand/Main.aspx?tabid=1

The major changes from the original proposals include;

• A major reduction in the size of the Scenic Protection Overlay districts along with new construction in these districts are now NOT required to retain or plant tress in front of the house - new construction must now have trees planted or retained on the sides and rear of the house. The original proposal would have blocked and obstructed views of the lake from these houses.
• Mandatory clustering is NOT required in lands classified either AR (Agricultural Resource) and RR (Rural Resource). The original proposal called for mandatory clustering and the creation of a resource parcel. Mandatory clustering could have restricted or limited a property owner’s ability to subdivide in the future.

The County Commissioners and Planning Commission should be commended for listening to public comment and taking into consideration the many concerns from owners of real estate throughout Garrett County and the Deep Creek Lake area.

By: Mike Kennedy mkennedy@railey.com 301-616-6106 May 14th, 2010 Category: Garrett County News, News

In an effort to better manage lake water levels, a local group of property and real estate owners at Deep Creek Lake have established an online petition to extend normal water levels later in the boating season.

The normal boating season at Deep Creek Lake usually runs from mid April thru mid October. However, many property owners located in the shallower coves have recently experienced much shorter boating seasons. This is mainly due to the drawing down of the lake much sooner in the past few years.  Because these draw downs are occurring sooner, many property owners in the shallower coves are being forced to take their boats out of the water by September in most cases.

The power company that owns the hydroelectric facility and the Deep Creek dam, Brookfield Power, is currently responsible for lowering the water levels as the boating season progresses. During each month the lake level must fall within a certain elevation range known as the ‘rule bands.’ The rule band requirements and lake level start high each year- in April and May - and then gradually go down until October and November. The draw downs of the lake are based on rainfall, the rule bands, electricity demand, and planned timed releases. The Maryland Department of Environment sets the rule bands.  Previous owners of the dam and hydroelectric facility have allowed the lake levels to stay on the high end of the rule bands - which has generally resulted in problem free boating seasons for property owners in the shallower coves until mid October.

This petition is one of the first steps in trying to create a constructive dialogue with Brookfield Power about this issue by making them more aware that the draw downs occurring during the last few years have negatively affected the boating season and property owners in the shallower coves.  Attempts to create more dialogue on this issue have also occurred in the most recent Deep Creek Lake Policy and Review Board meetings. If you boat on Deep Creek Lake or own real estate, we would encourage you to sign this petition to help create more awareness that the lake levels should be better managed. Initial responses from Brookfield Power seem positive as representatives have recently indicated they were not aware how many boaters and property owners were affected. Hopefully this petition and continued dialogue will result in more normal water levels in the later parts of the boating season going forward.

Click Here for the Online Petition to Better Manage Deep Creek Lake Water Levels

By: Mike Kennedy mkennedy@railey.com 301-616-6106 April 23rd, 2010 Category: Deep Creek Lake Activities, Deep Creek Lake Area Things To Do, Deep Creek Lake Real Estate, Garrett County News, News, Wisp Real Estate, Wisp Ski Resort

The Wisp Ski Resort at Deep Creek Lake recently announced a new attraction. Construction of a Zip-line ride near the Bear Claw Tubing Park is expected to begin shortly and should be open to the public in the summer of 2010. The new attraction is going to be named the Flying Squirrel Canopy Tour.  A Zip-line is basically a pulley on a cable that allows a rider to traverse down an incline using gravity while holding on to a pulley. The riders are attached to the pulley and cable with a safety harness. The new Zip-line, which is very popular in other resort areas, will add to the area’s many other diverse activities and continue to make Wisp a popular year round destination.

Hale Irwin Lodestone Golf Course & Wisp Real Estate Update

All 18 holes are now complete. The front 9 opened last fall to play and will re-open again May 1^st of this year. The back 9 holes are scheduled to open in June 2010.  Reviews from golfers who have played the course say its “spectacular”.  The scenery is incredible as some holes feature breathtaking views of Deep Creek Lake. A temporary clubhouse will be set up this summer and Hale Irwin himself will be here on July 10^th for a reception and to play the course. Lodestone is also offering a Trial Use Membership for 2010 (pdf).

All roads are now complete in the Greenbrier subdivisions at Lodestone.  Construction of two new residential houses fronting the golf course is expected to begin shortly.

Including the new golf course home sites, DC Development has developed 540 building lots atop Wisp Mountain since 1994. There is a potential for a total of 2,301 home sites atop Wisp.

Other recent Wisp news and updates;

• The 2009/2010 ski season was very good. The Deep Creek Lake and Garrett County area received record amounts of natural snow. The Wisp reported that skier visits were up about 2% over of the previous winter season. The ski area closed for the season on April 4^th of this year.
• The Mountain Coaster continues to be very popular with tourists and visitors.
• The Wisp plans to continue its annual Easter Sunrise Service. Visitors can ride the chair lifts to the top of the mountain for free and watch the sunrise as Easter services are conducted.

Please contact us if you would like to explore any real estate opportunities at Wisp and the new Lodestone Golf Course - including home sites, building lots, townhomes, or existing houses for sale.

Click Here for all Railey Realty listed Home Sites, Building Lots, Real Estate, and Houses for Sale at Wisp Ski Resort.

(Photo courtesy of D. A. Horchner/Design Workshop)

By: Mike Kennedy mkennedy@railey.com 301-616-6106 April 15th, 2010 Category: Garrett County News, News

Maryland Governor Martin O’Malley signed into legislation yesterday a new law that will require all children 13 years of age and under to wear lifejackets (personal flotation devices) while boating on state waterways - including Deep Creek Lake. The previous regulation only required children 7 years of age and under to wear lifejackets while on a boat that is underway. This new age requirement for PFDs goes into effect immediately.

Going into effect later this year (October 1^st) is new legislation that impacts the requirements of children operating boats on Deep Creek Lake and all other state waterways who are 16 years of age and under. The new law will require children under the age of 16 to possess a certificate of boating safety education before they can operate a boat AND (1) either be supervised by someone 18 years or older who is also aboard the boat, or (2) be supervised by someone 16 years or older with a boating safety certificate who is aboard the boat. Children between the ages of 12 and 16 years will no longer be able to operate a boat by themselves with just a boating safety certificate - the new law essentially requires supervision by someone older who must be aboard the boat while the younger person is driving.

While boating accidents are very, very rare on Deep Creek Lake, these new laws are aimed to improve overall safety and to get Maryland more in line with other states and federal laws.

By: Mike Kennedy mkennedy@railey.com 301-616-6106 April 5th, 2010 Category: Deep Creek Lake Buyer Info, Deep Creek Lake Real Estate, News

Last fall the Deep Creek Lake Management office sent a letter to all dock permit holders outlining proposed changes concerning the way PWCs (personal watercrafts) will be docked/stored at lakefront sites. These changes to the regulations will essentially get rid of all current PWC racks/stands on the shoreline. The public comment period ended a few months ago and the proposed changes to the regulations are expected to be approved by the State of Maryland in the very near future.

As usual, and until notified otherwise, all Type A dock permit holders will be allowed to dock two (2) power vessels and one (1) non-power vessel (most likely a sailboat) at their dock.  If you posses a Special Permit you WILL be allowed to place a PWC that weighs LESS than 500 pounds on a shoreline rack/stand for the meantime - but you will also receive a letter notifying you of forthcoming changes.  Under current regulations, any PWC that weighs MORE than 500 pounds is NOT permitted on a shoreline rack/stand. Nearly all PWCs manufactured in the last 10 years weigh more than 500 pounds. Most lakefront homeowners currently store their 500 (+) plus pound PWCs on manufactured stands and racks on the shoreline and not tied up to their boat dock.

Early this summer, DNR is expected to take applications from dock permit holders that will allow them to have 1 PWC permitted at their boat dock.  (PWCs are permitted at docks now but since they are more than 500 pounds they are considered a power vessel by definition). If approved, the new permit will then be valid for two (2) power vessels, one (1) PWC, and one (1) non-power vessel. This application will cost an additional $100 on top of the normal $200 paid in the spring. DNR expects to issue these new buffer strip permits for one (1) additional PWC at docks starting sometime later this summer.

It appears that all Type A permits will now have the ability to be granted three (3) power vessels and one (1) non-power vessel at their lakefront home - however, one of the three power vessels will have to be a PWC. This new regulation will benefit the lakefront homeowners who only have 1 power boat at their dock now and 2 PWCs on shoreline stands/racks - or the homeowners who have 2 boats now at their dock and 1 PWC on a stand. This new regulation will basically allow all 3 to be tied up their dock.

However, this new regulation appears to hurt the lakefront homeowner who already has 2 power boats at their dock now -for example, a Cobalt and a pontoon boat - and who also has 2 PWCs stored on shoreline stands/racks. This new regulation is going to force these homeowners to get rid of one of their PWCs - or get rid of one of their power boats. This situation of 2 boats and 2 PWCs is very common around Deep Creek Lake.

Homeowners in lake access communities with common docks may also suffer a bit with these new regulations. For common docks, DNR is going to permit 3 PWCs per every 10 approved boat slips. Therefore, the homeowner who has a power boat in one of the slips in the common dock and a PWC on a shoreline stand may be forced to get rid of either the boat or PWC if there are numerous PWCs in that particular community.

The intent of this change is to get rid of all PWC racks/stands on the shoreline - as DNR viewed these stands as an abuse of the number of power vessels docked/stored at these homeowner sites.

By: Mike Kennedy mkennedy@railey.com 301-616-6106 March 6th, 2010 Category: Deep Creek Lake Market Update, Deep Creek Lake Real Estate, Garrett County News, News

Yesterday the historic Alpine Village Inn, on the shores of Deep Creek Lake, went to auction. The bidding started at $550,000 and quickly escalated up to $900,000. The winning bid ended up being $900,000 and it appears a non-local developer was the winning bidder. The previous owners had paid $750,000 for the motel back in 2003. It is not immediately known what plans the new owner has for the once thriving 29 room hotel/motel.  The State of Maryland Highway Administration does have plans at some point in the future to widen the intersection of Rt. 219 (Garrett Highway) and Glendale Road which could potentially increase the value of all commercial real estate at Deep Creek Lake in that area. The interesting point here is that the Alpine Village sold for more than what it did just 7 years earlier - once again demonstrating the underlying strength and stability of real estate values here at Deep Creek Lake - values that are holding fairly steady even during one of the worst real estate slowdowns and economic downturns in our country’s history.

By: Mike Kennedy mkennedy@railey.com 301-616-6106 February 24th, 2010 Category: Garrett County News, News

Lifelong Garrett County Maryland resident Jay Ferguson has joined Railey Realty - Deep Creek Lake and Garrett County’s leading real estate company since 1995. Jay has spent the last 9 years in the real estate business with Long & Foster Real Estate. He was the office individual top producer for 6 consecutive years, and a Hall of Fame member of the Gold Team - a distinguished honor in the company based on annual sales of $5 million or more for 8 of the last 9 years. Jay has expanded on his Realtor education as a GRI (Graduate of the Realtor Institute), RRS (Resort Recreation Specialist) and an e-Pro (internet transaction & marketing specialist).

Jay has successfully blended his background in web design and internet marketing / consulting to propel his real estate sales career and grow his business. He has worked with hundreds of clients throughout the years and has assisted many first time home buyers and friends in the dream of home ownership. Ferguson says, “I was born and raised in Oakland & at the lake, and it’s incredibly exciting to introduce new residents to everything that Garrett County has to offer. I’m very proud of how much our area has grown throughout the years and the many new businesses & attractions that make our home even more special.”

Ferguson has specialized in Southern Garrett County homes/land & Deep Creek Lake vacation home/building lot sales, though he has vast experience in all other areas of the county, as well. Jay has sold and marketed everything from small recreational lots, to farms, single family homes and vacation homes at Deep Creek Lake and Wisp Resort. “I greatly appreciate the opportunities and the people that I have worked with through my years in the real estate business. I have learned a lot from some truly great friends, colleagues, and real estate professionals. I look forward to a new challenge in my life and adding my sales experience and web marketing to the area’s #1 real estate agency. I am always eager to learn more from some of the greatest Realtors the county has to offer, as well as working with a locally owned real estate company.”

Railey broker and owner Kevin Liller had this to say about Jay. “We are really excited to have Jay join the Railey Realty team. Jay is a quality person who brings a vast knowledge of real estate and internet marketing as well as a very loyal customer and client base.”

Jay and his family live in Mitchell Manor in Oakland. He and his wife Jessica have two young children, Kayleah, 10, and Noah, 2. Jay is the son of Jerry & Sherry Ferguson, both Garrett County natives.