ilovedeepcreeklakerealestate – Page 4

July 2012 Real Estate Market Update – Residential

22 properties sold in July 2012, down slightly from last July’s 24 sales. Properties sold for over 90% of asking price again this month. There are even reports nationally of the average asking price increasing in some areas – that’s a good sign for sellers.

Let’s take a look at the rest of the stats:

There are 61 homes under contract right now (62 last month).

The average list vs. ORIGINAL sales price was 85.16% – (last month 86.69%).

The ADJUSTED list vs sale price was 90.13 (last month 92.58%).

The current # of active/for sale listings in MRIS (minus timeshares) is 622, down from last months 685. We have a 28.27 month supply of homes available (minus timeshares) based solely on the July sales numbers.

Random observations:

•5 ‘newer’ homes sold in July (5 years old or less)

•It appears that 14 or so of these sales were vacation homes

•16 homes sold at/under $300,000 (last month was 18)

•17 homes sold under $400,000 (last month 21)

•0 homes sold over $ 1 million (1 last month – 1931 Lake Shore Dr sold for $1.849)

•1 home(s) sold for higher than full price or at full price (last month was 4)

•One house sold for 54.49% of asking price – 5 Dewey Roy Ln

•The oldest home that sold was 137 (!) yrs old (2899 Pocahontas Ave)

•The average age of the homes that sold was 37 years (27 last month)

•3 condo/townhouse/fractional properties sold (4 last month)

Here are the statistical breakdowns:

Average Sale Price: $265,771 (last month $364,821)

Average Days on Market: 235/277 (last month 252/283) (days on market with current broker/total days on market)

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Garrett school board rethinking building transfer

Debt remains for construction at former Dennett Road facility

Elaine Blaisdell Cumberland Times-News

OAKLAND — A decision whether to rescind a portion of a vote taken April 24 to transfer Dennett Road School to Garrett County government is on the Board of Education’s Tuesday meeting agenda. The transfer is being reconsidered because of a $140,214 construction debt that has eight years remaining, said Janet Wilson, superintendent of Garrett County schools.

“The board is looking at holding on to the building in light of debt. We are looking at ways in which the building could be used to enhance educational opportunities for all students,” said Wilson.

The business portion of the meeting, in the board’s central office, will be held at 6 p.m. Public comment is accepted at both 4 and 7 p.m.

After the board filed the necessary paperwork to transfer the school with the Maryland Public School Construction program and upon receipt of that paperwork, Robert Crocetti, director of finance, informed the board of the debt, according to Wilson.

“Crocetti notified us that there were two construction projects with remaining debt relative to the facility. The debt represented a 15-year Maryland state bond maturing in FY 2019,” said Wilson.

The debt was for two capital improvement projects — one in 2000 for wiring, with about $16,000 in debt remaining, and one in 2001 for a boiler, with about $106,804 in debt remaining. Interest applies in both projects.

“It was a good catch by Dr. Wilson not to transfer the building to the county,” said County Administrator Monty Pagenhardt.

The former Dennett Road school building could potentially be used for a maintenance building, for a shared (board and county) information technology department, a satellite food service or as a Head Start for Garrett Community Action, Pagenhardt said.

“The county didn’t have plans for the building but it was always in the back of our minds to use it as a maintenance facility,” said Pagenhardt.

The potential uses for the building will be presented during Tuesday’s meeting, Wilson said.

“The school will remain closed to student attendance,” she said.

Dennett Road and Kitzmiller elementary schools closed May 30, following the board’s April vote to do so in a cost-cutting measure. The county voted Tuesday to allow Garrett County Community Action Committee to continue to use the former Kitzmiller school for Head Start.

“The library is still currently utilizing the school (Kitzmiller) building. I know there is a request out by a group to use the building for an after-school program,” said commission chairman Jim Raley. “We have no certainty as to when the building is going to be transferred to us. We do have money in the budget to sustain the school for this particular school year because we anticipated that it would be turned over to us in a period of time.”

Also during Tuesday’s board meeting, Rodney Reckart, who was appointed to Rodney Durst’s District 3 seat on the board, will be administered the oath of office. Durst recently resigned his post.

Other agenda items include the awarding of school bus contracts; application for a public charter school; a food and nutrition services bid; an update on Yough Glades elementary school; a State Highway Administration archeological investigation and the Bethel School deed.

Contact Elaine Blaisdell at eblaisdell@times-news.com.

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Maryland Home Sales Fall in June

August 13, 2012 (Chris Moore)

Monthly sales of existing single-family homes and condominiums fell in Maryland during June as a shrinking housing inventory left buyers with fewer choices according to the latest housing data from the Maryland Association of Realtors® (MAR).

An estimated total of 5,122 existing single-family homes and condos were sold in the Old Line State in June. That was 3.9 percent lower than the 5,328 homes sold in May but was still 3.5 percent higher than the 4,949 homes sold in June 2011.

The median sales price for an existing home in Maryland increased by 1.0 percent in June to $261,772, up from $259,207 in May and was 7.8 percent higher than the median price of $242,796 in June of last year.

Of the 24 counties and cities that provide data for the monthly report, thirteen reported gains in home sales or were unchanged over the previous year with Talbot County (+68.2 percent) reporting the largest increase of counties with over 20 sales while Garrett County (-20.0 percent) posted the largest monthly decline in sales.

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Wisp Gets One-Month Reprieve, Not Two

August 10, 2012 11:04 am
By First Tracks!! Online Media

Deep Creek Lake, MD – A bankruptcy court has given the owners of Maryland’s only ski and snowboard resort a one-month extension on its deadline to submit a financial reorganization plan.

D.C. Development LLC, the owners of Wisp Resort near McHenry, had asked the U.S. Bankruptcy Court in Greenbelt, Md., for a two-month extension to today’s deadline to submit its reorganization plan, arguing that it needed more time to negotiate with two unidentified potential buyers of the resort. The court on Thursday agreed instead to extend the deadline to September 10.

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Debt refinancing saving Garrett County $1.8M

Commissioners approve Energy Conservation Plan

For the Cumberland Times-News Cumberland Times-News

OAKLAND — The Garrett County commissioners have taken action to save the county $1.8 million in interest costs for water and sewer projects over 20 years, according to a news release.

The commissioners unanimously approved the issuance of a debt refinancing package of $35 million at 3.5 percent interest through Susquehanna Bank.

The refinancing consolidates 12 bonds totaling $25.85 million as well as other debts the Garrett County Sanitary District had incurred to finance three water and sewer projects.

The projects include $8.22 million for the Thayerville water system, $55,000 for the Jennings sewer pump station and $875,000 for Mountain Lake Park/Loch Lynn Heights water system, according to Linda Lindsey, director of the department of public utilities.

Lindsey credited Public Utilities Assistant Director Jeff Broadwater for spearheading the debt restructuring and said, “We haven’t consolidated all our debt like this before, but this is more advantageous to the county.”

The board also unanimously ap-proved an Energy Conservation Plan, which replaces a 1993 plan, designed to curb county facilities’ energy consumption by 5 percent this fiscal year and up to 15 percent by 2015.

The plan targets electricity, fuel oil, natural gas, propane and water/sewerage.

An Energy Conservation Team, with representatives from nine county departments, includes Commissioner Robert Gatto. The team and the county’s Facilities and Maintenance Department will work with the commissioners and county administrator in establishing energy guidelines and communicating them throughout county government facilities.

“This is a great initiative and very timely,” said board chairman James Raley. “By approving this plan, it becomes our plan, which ties in nicely with our LEAN management.” Spearheaded by Commissioner Gregan Crawford, LEAN management was established to create more value while using fewer resources and also has a county committee,

The new Energy Conservation Plan outlines immediate, short- and long-term measures for energy conservation and recognizes that third-party energy audits and/or energy accounting software programs may be needed to effectively measure consumption.

County Purchasing Agent Brian Bowers said the county has “modeled its goals after the state’s,” referring to the Empower Maryland initiative of reducing energy consumption by 15 percent statewide by 2015.

Some of the plan’s energy-saving ideas include:

• Turning off lights to save up to 20 percent of lighting expenses.

• Removing one or more lamps from multiple lamp fixtures.

• Turning off computers when not in use.

• Raising or lowering thermostats one degree.

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Anti-Obama mood even hits cardboard regatta

August 7, 2012 | 4:55 pm

Paul Bedard
Washington Secrets
The Washington Examiner

They didn’t win, but the “shipbuilders” of the Nobama made their point at the Deep Creek Cup in western Maryland.

Like other silly boats entered in the first ever Deep Creek Cup staged a week ago in the western Maryland resort area of Deep Creek Lake, the “Nobama” wasn’t expected to win the race. But, to much applause, it easily made the point its builder was striving for: sinking support for the S.S. Obama.

“The country can’t afford another four years of Barack Obama,” said “shipbuilder” Dave Niesslein, a prominent dentist from nearby Farmington, Pa. “He’s an idiot.”

Niesslein’s “Nobama” was entered in the July 28 races along with other cardboard and funny looking vessels made from junk. He used a 16-foot ladder, rusted bike and whatever he could get his hands on to build it. The four-man boat moved with the help of two oars, one named “Hope,” the other “Change.”

On Tuesday, he told Secrets, “it was all show and no go, just like Obama. We used all sorts of stuff that was supposed to work but didn’t.”

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Road work will force U.S. 40 Alternate closure

Drainage pipe replacement part of two-week, $2.2M Garrett project

From Staff Reports Cumberland Times-News

GRANTSVILLE — U.S. Route 40 Alternate will be closed between U.S. Route 40 at Keysers Ridge and the western limits of Grantsville near Springs Road beginning Monday, the Maryland State Highway Administration announced.

The road will reopen before Aug. 27, the first day of school in Garrett County.

The closure is part of a $2.2 million safety and resurfacing project that will allow crews to replace a drainage pipe that crosses the road about 50 feet east of Spring Valley Farm Lane. The pipe replacement and patching will be completed during the closure, but paving work will continue this fall. If necessary, the final surface of asphalt will be placed next spring.

During the approximately two-week closure, traffic will be detoured onto Interstate 68.

Accommodations will be made for residents within the closure area as well as for bicycles and buggy traffic to continue through the work zone, as they cannot travel on the interstate. Those using this route should proceed with caution and expect possible delays.

Anyone with questions about the project may contact SHA’s District 6 Office at 301-729-8400.

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Fact: Maryland has no natural lakes

By Michael S. Rosenwald

….I stumbled on the lake thread this morning — the link was titled “TIL Maryland has no natural lakes.” (Ahem: TIL is an acronym for Today I Learned.)

I thought, “Really?”

The post linked to a question-and-answer briefing on Maryland lakes from the Maryland Geological Survey.

“Yes, there are no natural lakes in Maryland,” the survey says. “All of Maryland’s lakes are man-made by damming rivers. Some have been named lakes (e.g., Lake Habeeb in Allegany County and Deep Creek Lake in Garrett County), but most have been named reservoirs (e.g., Loch Raven Reservoir in Baltimore County).”

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Friendsville gets grant to help complete its part of Garrett County’s loop trail

Elaine Blaisdell Cumberland Times-News

FRIENDSVILLE — The town of Friendsville recently received a $78,500 award as one of the recipients of the 2013 Bikeways Program Grant.

“We are very happy to receive the grant. I appreciate the cooperation of everyone that we worked with to achieve this grant,” said Mayor Spencer Schlosnagle. “It is part of the master plan for our future to bring in economic development for recreational activities.”

The grant will be used for designing and engineering a town trail that will extend to the community park.

It also will help with additional signage, bike racks and safety improvements in the future construction of the Kendall Trail, according to Schlosnagle.

The Kendall Trail, which begins on Morris Avenue, is about three miles long and, once fully completed, will go into the Sang Run area of Oakland.

“It’s a big benefit for our community,” said Schlosnagle.

The Bikeways Program is an integral part of the proposed Eastern Continental Divide Loop Trail, an initiative developed and led by Garrett Trails.

The vision for the proposed loop trail is a 150-mile, hard-packed, multi-user trail that runs through the heart of Garrett County and bridges the connections between existing trails and connects to larger trail networks outside the county, according to the Garrett Trails website.

The northern portion of the loop trail leads through Grantsville, eventually connecting with the Great Allegheny Passage in Meyersdale, Pa.

The existing Allegheny Highlands Trail forms a loop at Confluence, Pa., where it can be taken to the southern portion of the loop beginning at Friendsville, according to the trail’s website.

“The benefits of a county-wide recreational trail system are wide-ranging. A comprehensive trail system will enhance the quality of the life within the county and become an indispensable asset,” states the 2003 Garrett County Recreational Trails Plan update.

“Although creating or expanding a trail system can deliver significant economic benefits by itself, communities can do more to capitalize on the economic potential of trails. Trails generate positive economic impacts by delivering additional spending to businesses. As businesses become more productive, new jobs and tax revenue follow.”

Statewide, the Bikeways Program provided 28 winners with $3.13 million in grants to seven counties, Baltimore City and 12 other municipalities, according to the program website.

These projects are the second set of grants awarded through the Bikeways Program, bringing the total to 48 bikeways grant recipients for a total of $5.63 million to date.

The grant was made possible thanks to the assistance of Gov. Martin O’Malley, who facilitated the program; U.S. Sen. Ben Cardin and his staff, who are strong proponents of hiking and biking trails; and Garrett Trails, according to Schlosnagle.

“It is a joint effort with everyone working together to make it a reality,” Schlosnagle said.

For more information on the proposed Eastern Continental Divide Loop Trail, visit the website at www.garretttrails.org.

Contact Elaine Blaisdell at eblaisdell@times-news.com

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"Summer Afternoon"

Jul. 19, 2012

Summer afternoon; to me those have always been the two most beautiful words in the English language,” said American author Henry James (1843-1916). A great many would agree with his sentiment, especially while playing in the sand or wading in the waves. The height of summer is upon the Mountaintop, with temperatures warmer than the usual Garrett County clime.

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While much of the nearby area is suffering severe drought conditions, this county has been spared the worst of it, with rain being a little less stingy with its appearances. The forecast for the next week is rocky, with storms possible each day. The heat is to be less – back to the more normal mid-70s range. This photo was taken at Deep Creek Lake State Park by staff photographer John McEwen.

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Author: ilovedeepcreeklakerealestate

July 2012 Real Estate Market Update – Residential

Garrett school board rethinking building transfer

Maryland Home Sales Fall in June

Wisp Gets One-Month Reprieve, Not Two

Debt refinancing saving Garrett County $1.8M

Anti-Obama mood even hits cardboard regatta

Road work will force U.S. 40 Alternate closure

Fact: Maryland has no natural lakes

Friendsville gets grant to help complete its part of Garrett County’s loop trail

"Summer Afternoon"

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