By: Mike Kennedy mkennedy@railey.com 301-616-6106 June 17th, 2009 Category: Garrett County News, News

The proposed Community Athletic Recreation Center (CARC) in Garrett County and Deep Creek Lake is still a possibility although things are looking bleak after last week’s meeting between officials from Garrett College and the County Commissioners.

If constructed the Recreation Center would be open to the public and would include indoor swimming pools, indoor tracks, basketball courts, fitness facilities, and physical therapy rooms. It would benefit all full time residents of Garrett County and many second and vacation home owners at Deep Creek Lake as well - especially seniors and families with children. As another amenity to the Deep Creek area this center would also help maintain real estate and property values as well. Garrett County is the only county in the state of Maryland without a public pool and recreation center! We may very well be the only county in the entire United States without a public pool! The center was originally planned to be placed atop Wisp Mountain near ASCI (Adventure Sports Center International) but space concerns in 2006 eventually shifted the plans to the campus of Garrett College in McHenry.

The project was placed on hold last January after bids to build the center on the campus of Garrett College came in well above initial estimates.  However, Garrett College officials would like to start discussions again on the athletic center since the state still has committed around $15 million for the construction of the facility and the fact that Senator George Edwards recently secured another $3 million as well. College officials think that due to the downturn in the economy new construction bids will come in much lower this time as many contractors are now looking for work.

Commissioner Holliday has gone on the record as saying he would vote against the project due to his concerns that the center would eventually become a financial burden on the county after it was up and running due to operating costs - not because he was concerned about the funding needed to get the project built. However at last week’s meeting he did give his ok to continue studying the feasibility of the center. Commissioner Glotfelty is abstaining from this vote since he owns Double G Campground which will be adjacent to the proposed recreation center. With Commissioner Glotfelty abstaining it could create a situation of one yes vote from Commissioner Gregg and one no vote from Holliday which would essentially kill the project.

The center could host numerous swim meets, track meets, and basketball camps and tournaments throughout the year to generate income and offset ongoing operating costs. Due to the tourist nature of Deep Creek Lake and Wisp Ski Resort it should be relatively easy to attract groups and organizations to these types of events!

If you would like to voice your opinion one way or the other you can e-mail Commissioner Holliday at countycommissioners@garettcounty.org.

By: Mike Kennedy mkennedy@railey.com 301-616-6106 June 9th, 2009 Category: Deep Creek Lake Buyer Info, Deep Creek Lake Market Update, Garrett County Real Estate

Click on the link below for new real estate listings and homes for sale in the Deep Creek Lake and Garrett County Maryland area offered by Railey Realty - Deep Creek’s leading real estate brokerage.

New Deep Creek Lake, Garrett County, and nearby West Virginia real estate listings - the week of May 25-June 7, 2009

The residential properties are denoted with a push pin and the building lots and acreage are denoted with the balloon graphic. Clicking on the property marker will give you a brief description and a link to additional information and pictures.

Please contact us if you are interested in any of these new properties - or any others listed for sale in the area. As a member of MRIS, our local MLS, we can assist with any property listed for sale - even those listed with other area real estate brokerages in Garrett County Maryland.

By: Mike Kennedy mkennedy@railey.com 301-616-6106 February 10th, 2009 Category: Deep Creek Lake Buyer Info, Deep Creek Lake Real Estate, Interest Rates and Loans, Obtaining a Mortgage, Uncategorized

This afternoon I had a conversation with local mortgage lender Jerry Merrick of BB&T Bank.  He had mentioned that refinance interest rates in the Deep Creek Lake and Garrett County areas are actually higher than purchase rates and no one seems to be noticing this. Conforming mortgage rates on a home  purchase are still below 5%! I questioned why the discrepancy in rates and below is his response.

While interest rates remain historically low some lenders are raising their rates to control the flow of refinance applications. The typical 30 year fixed rate refinance loan is priced at 5.125% today on any loan amount under $417,000. The matter is simply supply and demand, meaning that lenders are offering very low rates but they are typically understaffed and lack the support necessary to get these deals to closing prior to the rate lock expiration dates.

Consumers should be leary of using lenders that they are unfamiliar with who may be offering lower than market rates. The first item to address is how long is my rate guaranteed to be locked in for, and what are my options if the rate does expire prior to settlement? Ask yourself the question what good is a below market rate if you never go to settlement. At BB&T our clients are locked in for 60 days in order to ensure the integrity of their lock. Those terms are disclosed upfront in the form of a signed rate lock disclosure.

The flipside represents the purchase market which finds lenders still very aggressively priced. Purchase loans are priced today at 4.875% on 30 year fixed rate products. That’s a solid .250% below what the refinance transaction costs. The difference is purchase money transactions are moving faster and have priority in underwriting, because unlike the refinance these loans are new loans for the lender and the refinance transactions are already homeowners.

 With so many variables affecting the market, it’s more important than ever to have an advise -based strategy when structuring your loan, I appreciate you trusting me with this role. 

Jerry Merrick

Deep Creek Lake’s #1 Lender

Vice President

BB&T Mortgage

Mortgage Loan Consultant

301-387-3219 Phone

301-387-5393 Fax

301-616-0037 Mobile

21287 Garrett Hwy suite 500

Oakland, MD  21550

www.bbt.com/mlo/jmerrick

By: JonBell jbell@railey.com 301-501-0735 April 12th, 2008 Category: Garrett County News

Governor Martin O’Malley held a news conference in the Savage River State Forest this morning to announce that his administration will not allow commercial wind turbines to be built on Maryland State Forest Land. O’Malley Stated that “While we must continue to explore and make progress on creating a more sustainable and independent energy future for Maryland, we will not do so at the expense of the special lands we hold in the public trust”

The debate to build wind turbines in Garrett State forest became popular to all Maryland Residents when the Baltimore Sun published its Dec 6th 2007 article stating “A Pennsylvania company is asking the O’Malley administration for leases in two Western Maryland state forests so it can clear up to 400 mountaintop acres to build about 100 wind turbines.”

After today’s news conference David Dishneau of WTOPnews.com wrote that “Opponents had claimed that allowing 40-story windmills on state-owned land in mountainous western Maryland would reduce its recreational value, spoil the landscape and lower property values, especially in the thriving Deep Creek Lake resort area of Garrett County.”

Click here to read the full WTOPnews.com article.