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#1 in Sales in Garrett County & Railey Realty 1st Quarter 2014 – Jay Ferguson!

Update 9-29-14: It was brought to my attention that I was the #1 agent for Railey Realty for the 1st quarter of 2014…after 2 of the owners, whose stats were not compiled as part of the equation originally. They don’t count ‘owners’ as part of the sales volume equation, just ‘agents’. So, all in all, I was really #3 in the Railey Realty office overall, which still isn’t too bad! I’m still proud of the achievement – its no small feat!

I received some exciting news this week – I am the Railey Realty office Top Producer thus far in 2014 as of Q1. That also translates into being the top producing real estate salesperson in all of Garrett County & Deep Creek Lake for the 1st quarter, too. I’m very blessed to have received this honor…and very lucky. Last year was a slow start, this year has been one of my best. THANK YOU to all my clients, customers and fellow agents for your support! God is Great!

The real estate market is picking up steam and prices are finally on the rise! If you are in the market to buy or sell real estate, give me a call!

Builders Ramp Up Hiring From Rising Demand

Daily Real Estate News | Thursday, March 14, 2013

Growing confidence among home builders about the housing recovery is prompting more of them to go on a hiring frenzy to meet increasing buyer demand. Government data shows that 48,000 construction jobs were added last month, the highest number since March 2007.

Across all industries, about 8.8 million total jobs were lost between January 2008 and February 2010 — and more than one in every five of those jobs was lost in construction. About 30 percent of all construction jobs were lost in the four-year period from January 2007 to January 2011.

But home builders’ rising sales that are giving them more confidence in the housing recovery. In January, new-home sales jumped to their highest level in two decades, according to government data.

More here.

June 2012 Real Estate Market Update – Residential

33 properties sold in June 2012. That’s 8 more sales than last June, which is great! I had mentioned previously in other blog posts that this is the most active real estate market since 2008. Well, we are now on a better pace – best year-to-date since 2007. Lakefront prices are at their most affordable prices since 2004. All in all, it’s been a great year so far.

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

There are 62 homes under contract right now (57 last month).

The average list vs. ORIGINAL sales price was 86.69% – (last month 84.91%).

The ADJUSTED list vs sale price was 92.58 (last month 88.33%).

The current # of active/for sale listings in MRIS (minus timeshares) is 685, up from last months 662. We have a 20.76 month supply of homes available (minus timeshares) based solely on the June sales numbers – that’s as low as i remember it for quite some time!

Random observations:

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

•It appears that 20 or so of these sales were vacation homes

•18 homes sold at/under $300,000 (last month was 12)

•21 homes sold under $400,000 (last month 15)

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

•4 home(s) sold for higher than full price or at full price (last month was 2)

•One house sold for 57.58% of asking price – 8956 Oakland Sang Run Rd

•The oldest home that sold was 58 yrs old (72 Mels Rd)

•The average age of the homes that sold was 27 years (33 last month)

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

Here are the statistical breakdowns:

Average Sale Price: $364,821 (last month $312,571)

Average Days on Market: 252/283 (last month 147/224) (days on market with current broker/total days on market)

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Buying or selling real estate in Garrett County or Deep Creek Lake, Maryland? Call Jay Ferguson of Railey Realty for all of your real estate needs! I take great pride in referrals, and I assure you, I will take great care of your friends, family & colleagues!

877-563-5350 – toll free

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Search Homes/Lots for Sale

Price reduction! 566 Foy Rd – $295,000 – GA7834623

566 FOY RD
MC HENRY, MD 21541

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!

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

Listing # GA7834623
$295,000

g.jpg” style=”display: block; height: 164px; margin: 0px auto 10px; text-align: center; width: 320px;” />Buying or selling real estate in Garrett County or Deep Creek Lake, Maryland? Call Jay Ferguson of Railey Realty for all of your real estate needs! I take great pride in referrals, and I assure you, I will take great care of your friends, family & colleagues!

877-563-5350 – toll free

Search real estate for sale at Deep Creek Lake & Garrett County

<img alt="" border="0" id="BLOGGER_PHOTO_ID_5634033840286253314" src="http://2.bp.blogspot.com/-ihRrI5UxTTs/TjAb7WbKwQI/AAAAAAAAINk/_Q-AboPty8g/s320/jay-ferguson-email-si

Living in Your Dream Vacation Home

Thanks to low interest rates and good prices, these couples took the plunge and bought the vacation homes they’d always wanted.

By Kathleen Bridges http://www.washingtonian.com
Published Friday, February 17, 2012

….Although prices in many popular resort areas are still falling, agents and lenders say the market is showing signs of recovery. In Virginia’s Rappahannock County, the number of homes sold climbed by almost 15 percent from 2010 to 2011. Homes in some areas are also selling faster—in Maryland’s Garrett County, they sat on the market an average of 208 days this past November, a drop of 26 percent from the same month in 2010.

Bill McGuire, a lender for First Home Mortgage in Easton, says that historically low interest rates and low prices have finally begun to lure buyers: “A lot of our clients had been looking casually for several years but were too afraid to jump in. They’re realizing that now may be the time to buy.”

More here.

877-563-5350 – toll free

January 2012 Real Estate Sales – Residential

27 properties sold in January 2011. Sales were up considerably from January 2011 (18) and up from last month’s 20 sales.

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

There are 46 homes under contract right now (46 last month).

The average list vs. ORIGINAL sales price was 78.69% – (last month 87.77%).

The ADJUSTED list vs sale price was 86.67 (last month 91.43%).

The current # of active/for sale listings in MRIS (minus timeshares) is 562, down from last months 598. We have a 20.8 month supply of homes available (minus timeshares) based solely on the January sales numbers. (Last month was a 29.9 month supply).

Random observations:

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

•It appears that 18 or so of these sales were vacation homes

•17 homes sold under $300,000 (last month was 14)

•19 homes sold under $400,000 (last month 15)

•1 homes sold over $ 1 million (0 last month)

•1 home sold for higher than full price or at full price (last month was 3)

•One house sold for 65.66% of asking price – 223 Old Crellin Rd

•The oldest home that sold was 102 yrs old (755 Sanders Ln)

•The average age of the homes that sold was 26 years (34 last month)

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

Here are the statistical breakdowns:

Average Sale Price: $$333,937 (last month $276,290)

Average Days on Market: 250/264 (last month 117/150) (days on market with current broker/total days on market)

877-563-5350 – toll free

>Harvard: Real estate recovery hinges on return of demand

>Household formation has plummeted and credit remains tight

By Inman News

Inman News™

Share ThisA pickup in household formation and access to mortgage credit are critical factors in spurring a lasting recovery in housing, researchers with the Joint Center for Housing Studies of Harvard University concluded in the latest annual “State of the Nation’s Housing” report, released today.

While job growth and consumer confidence remain key to an economic recovery, the “Great Recession” has crimped demand for housing by slowing immigration and the creation of new households by young and middle-aged adults.

Estimates vary, but Harvard researchers say Census data shows household growth averaged about 500,000 per year in 2007–10 — less than half the 1.2 million annual pace averaged in 2000–07. While builders have cut back drastically on home production, a more normal rate of household formation is needed to absorb the current glut of foreclosed and distressed homes, the report said.

An estimated 3.8 million baby boomers will need to downsize in the next decade, creating demand for smaller homes, and “the echo boomers” coming up behind them could represent a fresh supply of first-time homebuyers — if they can find jobs and qualify for loans.

>Just Sold – 199 Upper Highline Dr – GA6808486

>We just closed on this short sale/REO property yesterday evening for $630,500 ($650,000 with 3% buyer credit). Overall, an incredible buy – indoor swimming pool, 5 master suites & BIG views of the lake & mountains. The property is available as a vacation rental & I will be posting more details soon.

“Ski & Glee” features a full arcade with games ranging from Punch-Out & pinball machines to dual Crusin’ Exotica racing & more! It also offers 2 Xbox systems with Kinect & the latest movies through the Xbox & PC setup. In addition to the heated indoor pool, there will soon be a sauna. If you are in the market for a vacation rental, you won’t want to miss this house!!! I’ll keep you posted with more details in the coming weeks 🙂

If you are thinking of buying or selling real estate in Garrett County or Deep Creek Lake, Maryland, call Jay Ferguson of Railey Realty for all of your real estate needs! 877-563-5350

Deep Creek Do It All specializes in cleaning services in Garrett County & @ Deep Creek Lake. Give them a call (301-501-0217) or visit the website – competitive rates and quality results from a locally owned & operated company!

>The Realities of Real Estate: Is your agent an expert?

>Jay’s note: GREAT article about representing the best interest of your clients. I would never think of going to Baltimore to try and sell a commercial property; the opposite applies here with agents who want to work the market at Deep Creek Lake – and learn it in a day to become an ‘expert’.

By BOB and DONNA McWILLIAMS, For The Capital
Capital Gazette Communications Published 01/30/11

Some buyers and sellers believe that real estate agents are somewhat of a commodity, and as such, fairly interchangeable when it comes to completing a real estate deal. In reality, the differences between agents is significant and something you should consider when looking to buy or sell a home. Furthermore, there are a variety of aspects on which agents can differ, and some are more critical than others.

Agents are licensed by the state. As a result, an agent with a Maryland real estate license can legally sell essentially any kind of real estate anywhere in Maryland. But, and this is an important but, that doesn’t mean all real estate agents are necessarily qualified to sell everything under the sun. If an agent attempts to represent a client in an area of expertise outside the scope of their knowledge or in a geographic location where they normally don’t do business, they could run afoul of ethical standards that require them to not venture beyond their experience and abilities.

The most common limitation is geographic in nature. Although our real estate license might permit us to sell a house in Deep Creek Lake, we would never think of representing a buyer or seller in that location because we lack an intimate knowledge of the area. To properly evaluate property, it is necessary to sufficiently understand the important real estate nuances that exist in all communities. We actually got married up at Deep Creek Lake and have visited there many times, but that doesn’t give us the skills and abilities of a local agent. Those agents know the ins and outs of why a house located on one part of the lake might be substantially better than one situated in another area. Conversely, a Deep Creek Lake agent won’t know the merits of various neighborhoods around Annapolis. So, if an agent is representing clients in a particular location, they should have a reasonable understanding of that area or previous experience in doing business within the community.

Read the full article here.

If you are thinking of buying or selling real estate in Garrett County or Deep Creek Lake, Maryland, call Jay Ferguson of Railey Realty for all of your real estate needs! 877-563-5350

Declines in pending home sales — and some increases

Jay’s note: Garrett County is one of the few exceptions in Maryland:

Posted by Jamie Smith Hopkins at 7:00 AM – The Real Estate Wonk

…The number of contracts signed that month, deals that will turn into settlements if all goes well, slumped precipitously in most of Maryland. A dozen counties and Baltimore City saw double-digit declines, including a 38 percent drop in Dorchester (from 34 contracts a year ago to 21 in July) and a 26 percent decrease in Carroll (from 161 a year ago to 119).
……

But buyers in four counties actually picked up the pace in July compared with a year earlier. ….

3. Garrett County: 33 contracts signed in July, up 6 percent from a year earlier.

Read the full article here.

If you are thinking of buying or selling real estate in Garrett County or Deep Creek Lake, Maryland, call Jay Ferguson of Railey Realty for all of your real estate needs! 877-563-5350

Category: real estate

#1 in Sales in Garrett County & Railey Realty 1st Quarter 2014 – Jay Ferguson!

Builders Ramp Up Hiring From Rising Demand

June 2012 Real Estate Market Update – Residential

Price reduction! 566 Foy Rd – $295,000 – GA7834623

Living in Your Dream Vacation Home

January 2012 Real Estate Sales – Residential

>Harvard: Real estate recovery hinges on return of demand

>Just Sold – 199 Upper Highline Dr – GA6808486

>The Realities of Real Estate: Is your agent an expert?

Declines in pending home sales — and some increases

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