By: Mike Kennedy mkennedy@railey.com 301-616-6106 January 14th, 2011 Category: Deep Creek Lake Buyer Info, Deep Creek Lake Market Update, Deep Creek Lake Real Estate, Garrett County Real Estate, News, Wisp Real Estate

The Wall Street Journal recently reported that vacation home markets are on the rise. While the article does not mention the Deep Creek Lake real estate market, it does mention other resort markets and reports some similar things that have recently happened in our market.

• Sales are up slightly
• A few record sales - Deep Creek experienced a record lakefront house sale at Holy Cross for $3.5 in 2010.
• Cash buyers who are getting good deals
• More accurate pricing by sellers

Now is still a great time to purchase a second or vacation home in the Deep Creek Lake area. Interest rates are still low, good deals can be had with plenty of properties to choose from, and unlike other resorts we do have year round activities with the lake and Wisp Ski area.  Contact us for a complete list of all available properties - or a list of the current “best buys” in our market.

By: Mike Kennedy mkennedy@railey.com 301-616-6106 December 3rd, 2010 Category: Deep Creek Lake Activities, Deep Creek Lake Area Things To Do, Garrett County News, News, Wisp Ski Resort

After a week of cold temperatures and snowfall, the Wisp Ski Resort announced today it will be opening for 2010/2011 ski season on Saturday, December 4, 2010. The only trail that will be open the weekend of December 4th and 5th will be Belly Flop and the conveyor carpet. Reduced rate lift tickets of $10 will be available this weekend.

The Wisp expects to have many more trails open and have an official “Grand Opening” on Thursday, December 9th, 2010.

Snowmaking efforts remain in full gear as cold temperatures and more snow are expected over the next several days.

Here is a picture taken today of the Wisp (The Face and Squirrel Cage slopes) from my office - cold and snowy!!

By: Mike Kennedy mkennedy@railey.com 301-616-6106 November 8th, 2010 Category: Garrett County News, News

An entirely new board of County Commissioners was recently elected in Garrett County, Maryland and will take public office in the very near future.  Republicans Gregan Crawford, Jim Raley, and Bob Gatto all won their respective districts in last Tuesday’s elections. Jim Raley is no relation to Railey Realty owner and licensed salesperson Jimmy Railey.

Two incumbents on the current board of Commissioners, Ernie Gregg and Fred Holliday, were defeated in September’s primary by Gregan Crawford and Jim Raley respectively.  Mr. Crawford is from the Southern Garrett County area. Mr. Raley is from the Northern Garrett area and has served on the school board in the past.

The third incumbent, Denny Glotfelty, earlier won his district’s primary race but sadly lost his battle with cancer just one week before the November election. Bob Gatto successfully won the late Mr. Glotfelty’s seat and Deep Creek Lake area district as a write-in candidate.

The Garrett County Board of Realtors is planning to engage and have ongoing dialog with all three new County Commissioners along with Maryland Senator George Edwards and Delegate Wendell Beitzel. Both Edwards and Beitzel were easily re-elected for new terms. Members on the Board of Realtors include Railey Realty agents Larry Smith, Mike Kennedy, and Erin Strubin.

Railey Realty firmly believes in working with county government and taking a pro-active stance on all issues relating to real estate in Garrett County and Deep Creek Lake. Current issues in the forefront that could have an effect on property values and rights include tax assessments, the county’s budget, appointments to the Planning Commission, protecting the water quality in Deep Creek Lake, windmill setbacks and decommissioning standards, and the proposed Marcellus Shale gas well drilling.

By: Mike Kennedy mkennedy@railey.com 301-616-6106 November 5th, 2010 Category: Garrett County News, News

Railey Realty is proud to announce that Larry Smith was recently installed as new President of the Garrett County (MD) Board of Realtors. Larry has been a full time licensed salesperson at Railey Realty for nearly 10 years. He also recently won the 2010 Realtor of the Year award. Before entering the field of real estate sales Larry previously worked at the Wisp Ski Resort and owned the Lake Breeze Motel on Deep Creek Lake with his family. Larry is the nephew of the late Helmuth Heise who founded the Wisp Ski Resort.

Also representing Railey Realty on the Garrett Board of Realtors are Mike Kennedy and Erin Strubin. Mike is continuing to serve a 3 year term as a Director on the Board of Realtors and Erin was recently elected to serve as Secretary. Both Mike and Erin are licensed salespersons with Railey Realty.

The Garrett County Board of Realtors is comprised of local Realtors committed to providing professional real estate services to all buyers and sellers. The Board closely monitors any proposed legislation and new issues that may affect real estate buyers and sellers in Garrett County and the Deep Creek Lake area.

The Board also works very closely with all local and state government to help protect property owners in regards to local real estate issues - such as lake management, property taxes, and the proposed Marcellus Shale drilling.

By: Jay Ferguson jferguson@railey.com 301-501-0420 September 28th, 2010 Category: Deep Creek Lake Activities, Deep Creek Lake Area Things To Do, Deep Creek Lake Events, Garrett County News, News

Some videos & a little bit about the experience of volunteering at the Savageman Triathlon last weekend. Railey Realty was stationed at the top of ‘Killer’ Miller Hill. We had a lot of great turnout from Railey Realty sales agents, friends & family. It was a lot of fun, almost like a part atmosphere. People in costumes, cheering a lot of cowbells Click for a few more photos that I posted to Facebook. Below, one of the videos is of Audrey Kennedy climbing the hill:

By: Mike Kennedy mkennedy@railey.com 301-616-6106 September 16th, 2010 Category: Deep Creek Lake Activities, Deep Creek Lake Area Things To Do, Deep Creek Lake Events, Garrett County News, News

Now in its 4^th year, the annual Savageman Triathlon Festival will be held this weekend in Garrett County and Deep Creek Lake. The Savageman 30.0 Triathlon will be held on Saturday and features a 0.9 mile swim in Deep Creek Lake, a 23 mile bike, and 6 mile run. On Sunday is the full Savageman Triathlon 70.0 race which features a 1.2 mile swim, a 56 mile bike, and 12 mile run. The 56 mile bike includes a portion on the Westernport Wall which has a 31% grade and other numerous areas with 20% grades. Six time Hawaii Iron Man World Champion and racing legend Dave Scott is also participating in this year’s race which has now grown to over 1,100 competitors from all over the world. With Garrett County such a beautiful and challenging venue, this race is now ranked #1 as the World’s Hardest Triathlons by Triathlete Magazine. All proceeds from the race and sponsorships support melanoma research.

Many locals and Railey Realty agents are participating in the race. They include:

Jimmy Railey - True Savage Double, competing solo in both Savageman 30.0 and 70.0 Courses

Mike Kennedy - relay team, bike portion, Savageman 30.0 Course

Brian Homberg - relay team, swim portion, Savageman 30.0 Course

Coelian Green - Aqua Velo, Savageman 70.0 Course

Russell Bounds - Aqua Velo (swim and bike only), Savageman 70.0 Course

Susan Bell - relay team, swim portion, Savageman 70.0 Course

Nick Orr (son of Rich Orr) - relay team, biking and running portion, Savageman 30.0 Course

Elizabeth Green (daughter of Coelian Green) - competing solo, Savageman 30.0 Course

Railey Realty agents this year again are volunteering and running the aid station atop Miller Road - also known as “Killer Miller” because of its long, steep pitch. Please join us at this aid station as we pass out recovery drinks and water to the passing bikers as they ascend this difficult portion of the course. We will have food, drinks, and music at this aid station from the hours of 10:00 am to 3:00 pm on Sunday, September 19, 2010.

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

While there is still plenty of water in Deep Creek Lake to safely enjoy boating for the rest of summer and fall, lakefront and lake access property owners should note the current lake level is below normal for this time of year - and in some instances creating a situation where a homeowner must either move their dock out further or take their boat out of the lake for the season. Bill’s Marine Service has reported already taking out approximately 180 boats thus far and it’s only one week after Labor Day.

The lower than normal lake level is mostly due to a very hot, dry summer experienced in Garrett County which actually created ideal weather conditions most weekends for Deep Creek vacation home owners and tourists. The Deep Creek Lake Policy and Review Board (PRB) met last Friday to discuss this issue and about what can be done in the future if hot, dry conditions happen again next year. At the meeting were representatives of the Maryland Department of Environment (MDE) along with the  Deep Creek Lake POA in attendance. While Brookfield Power manages and actually administers the water releases from Deep Creek Lake, MDE is in charge of monitoring that permit to make sure they keep the lake level within the allowed guidelines - also known as the rule bands.  The current lake level is currently below the lower rule band allowed for this time of year.

If you are a lakefront property owner and haven’t been to your house in the past few weeks you should check on your boat and dock sometime soon to see what the water level is at the end of your dock.  Most boats need at least 24 inches of water to sit safely in the water.

Overall the health of Deep Creek Lake is still very good according to DNR. Different types of sub-aquatic vegetation are still growing and can be seen with the eye which most say is the sign of a healthy lake. DNR also reports that the fish kill earlier this summer was mostly the result of higher than normal water temperatures. While certainly unofficial, the water temperature gauge on my boat read about 84 degrees the second week in July. In all my years of living on the lake and and waterskiing on Deep Creek, I’ve never seen the water temp higher than 80. Different groups are currently working together with DNR and the Property Owners Association to make sure the health of the lake is monitored in the future.

By: Mike Kennedy mkennedy@railey.com 301-616-6106 September 3rd, 2010 Category: Garrett County News, News

Deep Creek Lake manager Carolyn Mathews is reporting that DNR will proceed forward with the previously proposed changes in the PWC (personal watercraft) docking regulations.  However, there was one major change - the proposal will not require the $100 permit fee for PWCs as was originally proposed.

This new regulation will essentially ban all PWC stands that currently exist along the shoreline of Deep Creek Lake. Once approved through the permit process lakefront homeowners will now have to moor their PWCs to their dock. Lake access homeowners will have to moor their PWCs to the community boat dock.

The proposal and public comments can be found at this link;

http://dnr.maryland.gov/publiclands/western/deepcreeknrma.asp

If you are a dock permit holder you can probably expect to receive notice in the mail from DNR sometime in the near future.

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.