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1st quarter 2013 real estate market update

Continued stabilization characterized the overall Deep Creek Lake and Garrett County real estate market in 2012. Both total sales and dollar volume sold in the Deep Creek area increased 10% last year with most of the growth concentrated in the $250,000-$500,000 market segment. Both indicators have now increased for 3 consecutive years. The upward trend in sales can be attributed to the improving national economy, low interest rates, and the lowest prices experienced in the past several years. However, a few market segments, including the higher-end properties continued to experience corrections. Some trends we are seeing include;

  • Total Deep Creek Lake area residential sales were up 15% – 205 in 2012 versus 178 in 2011.
  • In the $250,000-$500,000 market segment dollar volume sold grew by 41% last year and sales increased 37%.
  • The average lakefront sold price decreased approximately 10% in 2012.
  • There were 6 fractional sales in 2012 versus x in 2011. Fractional properties are relatively new to the area but very popular in other resort markets. They are expected to grow in our market.
  • Eight (8) sales over $1 million in 2012 versus seventeen (17) in 2011.
  • Current total sales for the first few months of 2013 are tracking nearly the same as the first few months of 2012.

More here.

Price reduced! 566 Foy Rd – $249,999 – GA7834623 – Owner financing!

Room to breathe in a spacious contemporary on 3 acres in McHenry. 3,000+/- sq ft cedar & stone 2 story, 2 car attached garage, 4 BR, 3 baths w/ jacuzzi in master suite. In-home office, tongue & groove oak walls, skylights, stone fireplace in living rm, woodstove in family rm. Lots of glass, huge country kitchen & dining alcove. Large lawn & wooded lot, private. Home warranty! Owner financing!

566 Foy Rd, McHenry MD 21541566-foy-rd

 

 

 

 

135 N BRADLEY LN – $349k – ga7997799

ga7997799

135 N BRADLEY LN
OAKLAND, MD 21550

http://deepcreeklake.com/RealEstate/JayFerguson/detail.aspx?id=GA7997799

Beautiful, well maintained Premier home located near all the amenities in and near the Town of Oakland. Great detail thru out this 3 Bedroom home with walk in closet in Master Bedroom. Recent upgrades for home, new metal roof and HVAC installed in 2012. New Hot Water tank in 2010. Two car attached garage and a 40 X 60 detached garage with 12′ ceilings. The detached garage sets on a .52 AC lot.

Del. Beitzel, Sen. Edwards Secure $1 Million For ASCI Improvements

Apr. 11, 2013

The 2013 Maryland General Assembly adjourned Monday evening in Annapolis. During the 90-day session, Del. Wendell Beitzel and Sen. George Beitzel saw several of their bills make it to governor’s desk for signing into law, while a few pieces of proposed legislation died in committee chambers.

One of the local lawmakers’ more notable achievements was securing a total of $1 million for the Adventure Sports Center International (ASCI) in McHenry. Beitzel explained that he worked with the capital budget subcommittee to include $500,000 in the state’s capital budget on the House side, and Edwards was able to secure an additional $500,000 in the budget on the Senate side.

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The funding will be used for improvements at the whitewater course, including upgrading telecommunications, building new facilities, and upgrading existing infrastructure to prepare for the International Canoe Federation’s Deep Creek 2014 Canoe Slalom World Championships.

“These whitewater course improvements will benefit the facility for many years to attract new visitors to our region of the state,” Beitzel said in his weekly newsletter to constituents.

The championships are expected to generated $20 million for the local economy.

The lawmakers were also able to secure a $15 million bond bill for renovation/expansion work at Garrett County Memorial Hospital. Gov. Martin O’Malley signed Edwards’ SB 369 on Tuesday, which enables the Garrett County commissioners to borrow money on behalf of hospital officials for the $23.5 million project.

About $7.5 million of its cost will come from hospital operations and cash reserves, and $1 million will come from donations. The hospital will be solely responsible for paying off the bond’s debt service, which will be at a rate of 5.25 percent over a 20-year period.

The governor is also expected to sign HB 504/SB 370 – Garrett County Commissioners – Industrial Wind Energy Conversion Systems. This legislation authorizes the commissioners to enact ordinances pertaining to setbacks and the decommissioning of wind turbines.

“As you may know, Garrett County is the only county without countywide zoning,” Beitzel said in his newsletter. “I am pleased to announce that after six consecutive years of introducing this bill, it finally made its way out of the House and Senate, and is currently sitting on the governor’s desk awaiting [his] signature.”

HB 828/SB 766 – Oil and Gas Land Professionals – Registration was also approved by the House and Senate and awaits the governor’s signature.

“This is the second year that I have sponsored this significant legislation,” Beitzel said. “This bill requires that a person seeking to obtain any oil or gas leases from a property owner must provide proof to the property owner that the person is registered as a land professional in the state of Maryland.”

Under the pending law, a person may not operate as a land professional in the state unless he/she is registered with and Department of Labor, Licensing, and Regulation and is issued a certificate by the department.

Beitzel said a “land professional” is defined as a person, acting on their own behalf or on behalf of a prospective lessee or buyer, who negotiates with a property owner for the acquisition of mineral rights in oil or gas. He added that “mineral rights in oil or gas” means property rights, including an oil or gas lease, that allow the holder of the rights to enter into or under the property of another person for the extraction of crude oil, natural gas, or the constituents of crude oil or natural gas.

Also approved during this year’s General Assembly were bills that Edwards and Beitzel introduced on behalf of the Garrett County Liquor Control Board. One piece of legislation clarifies Sunday alcohol sales regulations that are already in place in the county. Another bill allows establishment of a beer festival license and the off-premise sales of special commemorative bottles or special event bottles of alcohol on a licensed Class C premise.

Some of the local lawmakers’ bills did not receive favorable reports from House and Senate committees, most notably HB 451/SB 310 – Garrett County – Coal Combustion Byproducts – Storage. The Garrett County commissioners requested the legislation. They asked that the state amend COMAR to allow the county to stockpile coal combustion byproducts, which are used locally as a road abrasive in the winter. The county has stored bottom ash at its three roads garages for numerous years, but the Maryland Department of the Environment cited the county last year for not having the piles covered, as required by COMAR.

MDE told county officials they must either cover the piles with a tarp or construct buildings to house the abrasives. Local officials, in turn, pointed out that the tarps would have to be one acre in size and buildings would be greatly cost prohibitive.

Edwards’ SB 204 – Bowhunting – Possession of Handguns for Protection received an unfavorable report from the Senate Education, Health, and Environmental Affairs Committee.

Also not winning approval were SB 298, which would have allowed the speed limit on I-68 to be increased up to 70 mph; and SB 286, which would have changed the definition of a “school vehicle.”

Water Line Work Resumes Along Glendale Road

Apr. 4, 2013

Installation of the water line along Glendale Road resumed on Monday. The work was stalled because of inclement weather.

The roadway will be closed to through traffic from 7 a.m. to 5 p.m., and only school buses and emergency vehicles will be allowed to enter the work zone and cross Glendale Bridge.

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All other traffic will be redirected to detours. Access will be permitted to residences and businesses located in the work zone, but delays may be experienced.

Daily updates will be posted on the Department of Public Utilities web site at www.co.garrett.md.us/public-utilities. Questions may be directed to 301-334-6983.

Short sale – 1200 MOUNTAINVIEW DR – GA7815223 – $849k

At one point, this was listed well over $1 million dollars and has one of the best views you can find of Deep Creek Lake:

1200mountainview-dr-ga7815223

PRICE REDUCTION! Breathtaking Views of Deep Creek Lake distinguish this 4 bdrm. 3 1/2 bath Contemporary home at the top of Mountainside from all others. Features include designer Kitchen with Sub-Zero, Luxor cabinetry, “lite touch” whole home halogen illumination, Viking range. Totally upgraded home with outrageous views, cherry flooring, incredible MBR/MBA. Shown by app’t only.

http://www.deepcreeklake.com/RealEstate/JayFerguson/detail.aspx?id=GA7815223

New listing – Lakefront chalet – 345 HINES DR – $549k – GA8046033

345 HINES DR
SWANTON, MD 21561

deepcreekrealestate-GA8046033

Lakefront chalet with 5 bedrooms in a peaceful, quiet cove with 161 feet of frontage on Deep Creek Lake. Incredible lake and mountain views, hot tub, boat slip, located on an oversized/wooded 1.65 acre lot. Incredible lakefront value! Great location for families and friends!

 

Contact Jay Ferguson @ 301-501-0420 or DeepCreekLaker@Gmail.com for more information or to setup a private showing for this property.

 

Listing # GA8046033

   

Log chalet for sale 229 ROCK LODGE RD – GA8043935 – $349,000

229 ROCK LODGE RD
MC HENRY, MD 21541

deepcreekrealestateGA8043935

Rock Lodge Road, 3-Level Log Home with beamed cathedral ceilings. 5 BR 3 baths with plenty of room for entertaiing and enjoment!, Wood floors throughout & 2-stone faced gas fireplaces. Large Front Deck, partially covered with hotub, and grilling area. Enjoy summertime nights at the firepit in the back yard. Dock slip rental available through owner. 2013 rental fee paid. Established Vacation Rental

 

Contact Jay Ferguson @ 301-501-0420 or DeepCreekLaker@Gmail.com for more information or to setup a private showing for this property.
Listing # GA8043935