>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.
If you or someone you know is considering 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! As member of the Garrett County Board of Realtors, I can assist you with ANY listed property, regardless of the listing broker.
>Support what works for our state’s schools
>To the Editor:
Cumberland Times-News The Cumberland Times-News Tue Jun 07, 2011, 09:22 PM EDT
— I recently returned from another leg in my education listening tour of Maryland, hosting my fourth and fifth roundtables in Allegany and Garrett counties to talk to educators and parents about what is working and what isn’t in the way the federal government works with rural schools.
I’ve always said the best ideas come from the people. And when it comes to education, one size doesn’t fit all.
Maryland’s schools are No. 1 in the country. But, as Congress gets ready to reauthorize the Elementary and Secondary Education Act (ESEA), I’m listening to superintendents, principals, teachers and parents from all over Maryland so I can take their ideas back to Washington and make our schools even better.
As a senior member of the Senate’s committee on education and the chair of the Subcommittee on Children and Families, I am fighting on behalf of Maryland’s children, parents, teachers and administrators to make sure the ESEA reauthorization encourages meaningful community engagement, high expectations for students, and rigorous and fair accountability for schools.
I started my education tour in Easton in March, where I met with the superintendents of nine counties to hear about the challenges they face as rural administrators. Then, after a stop in Baltimore to see wrap-around services at work, I met with teachers and parents at a Charles County Judy Center to hear about community schools and the integration of early-childhood services into elementary education.
Most recently, I sat down with educators, students and parents at the Allegany Career and Technology Center in Allegany County and heard about the unique needs of the county’s school system. I also visited the award-winning Garrett Engineering and Robotics Society (GEARS) to hear about how Garrett County is preparing its students for careers in science, technology, engineering and math (STEM).
At all of my roundtables, we talked about how the current legislation works, how it hurts and how it must be reformed. I want to make sure the ESEA I reauthorize is helping schools improve student outcomes, not creating a barrier to success.
What I’ve heard time and time again is that rural school districts are more likely to have trouble recruiting teachers and have limited numbers of staff in their district offices compared to urban districts – making it more difficult for them to meet ESEA requirements or compete for grants. Yet, our rural schools are doing a great job of educating students.
I’ve also heard that teachers and administrators want to be held accountable – but they want to be held accountable for student progress, not for meeting an arbitrary benchmark. Superintendents want the resources to provide quality professional development for teachers and principals. Rural schools are also facing challenges in competing for federal grant funding.
Students and teachers in our rural communities need flexibility and funding they can count on, not more unfunded federal mandates. I will continue to fight in the U.S. Senate to make sure all children — including those in our rural communities — have the tools they need to succeed.
U.S. Sen. Barbara Mikulski, D-Md.
If you or someone you know is considering 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! As member of the Garrett County Board of Realtors, I can assist you with ANY listed property, regardless of the listing broker.
>With one step into the waves, Park Quest ends
>
Brisk breezes blow a week’s worth of sweat and DEET away as I step onto the beach at Assateague, the final stop in this year’s version of Park Quest 24/7.
The temperature is 75.2 degrees and the wind is blowing at 14 mph.
How do I know? The final Quest is all about the weather.
Ranger Meghan Sochowski crafted a challenge that addresses both ordinary conditions and extraordinary ones found in hurricanes and thunderstorms.
If you or someone you know is considering 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! As member of the Garrett County Board of Realtors, I can assist you with ANY listed property, regardless of the listing broker.
>Donations needed for stadium feasibility study
>DelFest proof people will come here, group stresses
John Wiseman, special to the Times-News
The Cumberland Times-News Tue Jun 07, 2011, 11:10 PM EDT
— CUMBERLAND — The recent entertainment and commercial success of the annual DelFest music festival demonstrates our region will draw thousands of tourists if we offer something people want.
A local group of citizens wants to build an entertainment stadium that could provide year-round outdoor cultural events. Its dream is to make the site the entertainment capital of the tri-state area.
The group imagines a place that the 70,000 residents of the tri-state region could call their cultural center for a variety of entertainment performances, ranging from minor league baseball games to bluegrass and rock concerts in the summer and ice skating in the winter.
Add circuses, car shows and regional soccer games in the fall, flower shows in the spring, intermixed with religious revivals and other inspirational events, and members believe they will have a cultural magnet that can provide something for everyone.
This is what a local planning group envisions and has been working on the past year. It is currently seeking private contributions to defray the cost of a feasibility study to determine if the region can sustain such an enterprise. The committee, comprised of John Wiseman, Lee Fiedler, Howard Reynolds, Larry Hohing and Ted Troxell, believes its ultimate vision of building a multidimensional stadium can be realized if enough people in the Western Maryland and neighboring communities join in taking ownership of a project meant to economically rejuvenate our region and to lift our spirits.
“It will take our collective contributions to build a place we can all call a home away from home,” said Reynolds, a former sports star at Fort Hill High School and Frostburg State University.
Working with Gary McGuigan, project executive for the Maryland Stadium Authority, the local group has learned its ultimate vision of building a stadium is not far-fetched. This state agency, responsible for the construction of Camden Yards and involved in the building of the Ripken Stadium in Aberdeen, will assign a feasibility study to an experienced consulting firm once sufficient funds are secured.
The planning group is now issuing a call for private financial support to match support coming from other sources. Its goal is $25,000.
All contributions are tax-deductible once the study begins. Contributions of $100 or more will be returned to contributors should insufficient funds be raised. Lesser amounts will still earn a tax write-off. The Cumberland Dapper Dan Club has agreed to serve as a conduit for managing the funds received. Contributions should be sent to the sports club at P.O. Box 1322, Cumberland, MD 21502.
The planning committee looks to the future when area sports and concert enthusiasts will not have to drive hundreds of miles and spend hundreds of dollars to see a professional baseball game or other entertainment of choice, said Hohing, a Cumberland CPA who has spent a lifetime driving to sporting events. “It is time to bring more of these pleasures home. Hosting our own events would also bring more of our children and grandchildren home to visit, and perhaps to live here if we have more attractions to bring them back.”
“The economic impact of building a new stadium that provides year-round events could be enormous,” said Fiedler, former Kelly-Springfield executive and Cumberland mayor. “It would help attract new businesses and the jobs that go with them, as well as those jobs required to build the stadium and operate it all year.”
Ted Troxell, former sportswriter for the Salisbury Daily Times, watched Salisbury, Md., grow and thrive because of its minor league team. Purdue Stadium hosts the team and other entertainment activities. He sees parallels with the prospective team in this area. “Like the Eastern Shore stadium that attracts summer vacationers from Ocean City, ours would bring summer traffic from Deep Creek Lake.”
Wiseman became “hooked” on baseball as a young boy watching minor league games and his heroes play in Idaho Falls, Idaho. Western Marylanders who once followed local major leaguers like Lefty Grove, Bob Robertson, and John Kruk might now be inspired by a new generation of baseball players like Aaron Laffey of the Seattle Mariners. A minor league team here can become a proving ground for new young local players, thus keeping our rich area baseball heritage alive
The committee invites supporters of the project to stop by a table in front of the CBIZ Building on Heritage Days on Saturday and Sunday. Some of the committee members will be available to hand out fliers, answer questions and sign up volunteers to help complete the project.
If you or someone you know is considering 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! As member of the Garrett County Board of Realtors, I can assist you with ANY listed property, regardless of the listing broker.
>O'Malley study to further delay shale-gas drilling
>ANNAPOLIS, MD, (June 6, 2011) – Governor Martin O’Malley today signed an Executive Order (Order) establishing the Marcellus Shale Safe Drilling Initiative. The Order requires the Maryland Department of the Environment (MDE) and the Department of Natural Resources (DNR), in consultation with an advisory commission made up of a broad array of stakeholders, to undertake a study of drilling for natural gas from the Marcellus Shale in Western Maryland. “While we are mindful of the potential economic and energy benefits that could arise from the
production of natural gas from the Marcellus Shale reserves in Maryland, we are also very concerned about an array of issues that have been raised regarding the use of hydraulic fracturing to extract this fuel,” said Governor O’Malley. “Our decisions must be guided by scientific knowledge about the effects of this type of drilling to ensure that we protect public safety and health, groundwater, surface water, and the rural lifestyle and natural resources in Maryland.” Under the Executive Order, the study will be conducted in three parts: • A presentation of findings and related recommendations regarding the desirability of legislation to establish revenue sources, such as a State-level severance tax, and the desirability of legislation to establish standards of liability for damages caused by gas exploration and production. These findings and recommendations will be made by December 31, 2011. • Recommendations for best practices for all aspects of natural gas exploration and production in the Marcellus Shale in Maryland by August 1, 2012. • A final report which will include findings and recommendations relating to the impact of Marcellus Shale drilling including possible contamination of groundwater, handling and disposal of wastewater, environmental impacts, impacts to forests and important habitats, greenhouse gas emissions and economic impact. This report will be issued no later than August 1, 2014. The Study will also include a review of available results from studies on the issue being done by the U.S. Environmental Protection Agency, the U.S. Department of Interior, the U.S. Department of Energy, the State of New York, and the Delaware River Basin Commission, among others. Membership in the advisory committee is designed to ensure that the study includes individuals from the drilling industry, Western Maryland where Marcellus Shale reserves are located and members of the environmental community. The advisory commission will include: an expert on geology or natural gas production from a college or university; a private citizen from Western Maryland; representatives from the gas industry and an environmental organization; and representatives from Western Maryland local governments and business. “I applaud the Governor and his administration for taking this step toward insuring that any drilling in Marcellus Shale or the use of ‘fracking’ techniques in Maryland will be safe for our citizens,” said Maggie McIntosh, Chair of the MD House of Delegates’ Environmental Matters Committee. “While I acknowledge that the extraction of natural gas is important to our state and country, we must also understand that oil and gas activities, including hydro-fracking, are exempt from many federal environmental laws. Experiences in nearby states have demonstrated that the Departments of Environment and Natural Resources and the legislature must set standards to protect our drinking water, land and air when drilling in Marcellus Shale.” “Fortunately, Maryland is taking the time to ensure drilling occurs only after proper safeguards are in place. Given that our drinking water and other natural resources are at risk, and given Pennsylvania’s checkered experience with fracking, we applaud the Governor for his leadership on this issue. Maryland has the opportunity to get it right,” said Kim Coble, MD Director of the Chesapeake Bay Foundation. The Marcellus Shale is a geological formation that underlies a large area of the northeastern United States, including portions of Western Maryland. It is believed to contain significant amounts of natural gas, which when burned to produce electricity produces lower greenhouse gas emissions than oil and coal. The production of natural gas from the Marcellus Shale involves deep wells with long horizontal sections and a process known as hydraulic fracturing. Advances in technology have helped spur a dramatic increase in the use of this process in the United States. Exploration for and production of natural gas from the Marcellus Shale in nearby states have resulted in injuries, well blowouts, releases of fracturing fluids and methane, spills, fires, forest fragmentation, road damage, and evidence of contamination to groundwater and surface water. Other states have revised or are reevaluating their regulatory programs for gas production or assessing the environmental impacts of gas development from the Marcellus Shale. State law allows MDE to specify conditions that the Department deems reasonable and appropriate in a permit to ensure that an operation fully complies with the law and to provide for public safety and the protection of the State’s natural resources. Maryland law requires that the proposed activity be subjected to a formal public review and comment process prior to any permit decision.
If you or someone you know is considering 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! As member of the Garrett County Board of Realtors, I can assist you with ANY listed property, regardless of the listing broker.
>Coyote Challenge
>
“Coyote in the Hills” is the name of a three-day hunting challenge being sponsored by the Mountain Maryland Quality Deer Management Association and scheduled for today, June 2, through this Saturday, June 4, in Garrett and Allegany counties. Coyotes have been growing in numbers over the past decade or so in this region.
If you or someone you know is considering 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! As member of the Garrett County Board of Realtors, I can assist you with ANY listed property, regardless of the listing broker.
>Climbing Lessons
>
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A mother black bear oversees as her three young cubs brush up on their tree-climbing skills in the above photo taken along New Germany Road recently. Typically a mother black bear gives birth to two cubs after a 235-day gestation period, though litters as large as six have been documented. The black bear is a popular symbol in western Maryland, as its image adorns local businesses and visitors to the area often try to catch a glimpse of the noble animal. In fact, sighting a black bear in Garrett County has become a more common occurrence in recent years as the animal’s population continues to thrive thanks to efforts by the Department of Natural Resources. A 2005 survey estimated that 200 to 400 black bears roamed the mountains of Garrett and Allegany counties. This study revealed an increase in the total population, with the largest number of bears residing in Garrett County. Photo by Amber Hardesty.
If you or someone you know is considering 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! As member of the Garrett County Board of Realtors, I can assist you with ANY listed property, regardless of the listing broker.
>Fannie, Freddie foreclosure prevention eases in 2011
>WASHINGTON | Mon Jun 6, 2011 6:20pm EDT
WASHINGTON (Reuters) – The number of loan modifications and mortgage repayment plans completed by Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB) declined in the first quarter of 2011 as fewer borrowers were eligible for help, their federal regulator said on Monday.
The mortgage buyers’ foreclosure prevention actions, which also include completing sales of homes below market value, fell to 171,531 from 208,416 in the previous quarter.
Many borrowers in the pipeline for aid are now severely delinquent and therefore do not qualify.
If you or someone you know is considering 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! As member of the Garrett County Board of Realtors, I can assist you with ANY listed property, regardless of the listing broker.
>New Students Must Register With BOE
>Jun. 2, 2011
In a recent press release, the Garrett County Board of Education stated that parents/guardians should register their children who will be entering school for the first time.
If a parent/guardian did not register the kindergartner or first-grade student during the recent pre-registration program, one may do so by contacting the principal of the local school to arrange an appointment. This should be done as soon as possible.
Parents must take their child’s birth certificate, immunization records, and proof of residency with them for the registration process. Students can not be enrolled without first providing this documentation.
Acceptable proofs of residency documents are: deed or mortgage agreement, current property tax bill, current lease or rental agreement, current utility bill with the parent/guardian’s name and address, or a notarized Statement of Residency Verification form (available from county schools or the Pupil Services Office of the BOE). A child’s Social Security number is also requested for state reporting requirements.
Any child who will be 5 years of age on or before Sept. 1 must be enrolled in kindergarten or apply for a one-year maturity wavier. Any family who plans to use home instruction (home-schooling) instead of enrolling a student in school must submit forms at least 15 days prior to the first day of the school year.
Information may be obtained through the Pupil Services Office located at the BOE building or by calling 301-334-8939 or 301-359-9209.
If you or someone you know is considering 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! As member of the Garrett County Board of Realtors, I can assist you with ANY listed property, regardless of the listing broker.
>Regulations stall ridge line protection in Garrett County
>Angie Brant
The Cumberland Times-News Fri Jun 03, 2011, 11:25 PM EDT
— OAKLAND — Efforts to change the language in the Garrett County Comprehensive Plan to protect ridge lines have been stalled due to state and local regulations.
The inclusion of language designed to protect certain ridge lines in the county has dominated the time of the county planners for the last several months. The process to make the proposed changes was started at the beginning of this year at the request of the newly elected county commissioners. The commissioners asked the county planning commission to consider changes that had appeared in the original 2008 draft of the plan.
As per local and state law, the planning commission held a public hearing. The proposed changes were hotly contested by a number of residents who felt the language violated their property rights. Other residents felt the change was an important tool to maintain natural beauty of the region. In the end, the Planning Commission voted 3-2 in favor of the change with one abstention and sent the recommendation to the county commissioners for final approval.
While researching the topic, John Nelson, director of Planning and Land Development, discovered a voting procedure that requires motions for recommendation to the commissioners to include four favorable votes from the Planning Commission.
Nelson consulted with the county commissioners and the county attorney and was advised that the issue could be reconsidered, requiring a second public hearing, or the commission could stand by its vote, which would mean it is not endorsing the amendment.
“The previous vote was 3 to 2 with one abstaining and it takes four affirmative votes to pass. With this decision, the amendments to the plan will not be forwarded to the Board of County Commissioners,” Nelson said.
Despite this setback, county officials have not abandoned the proposal entirely.
“The Board of County Commissioners will be discussing this matter over the summer months both with county staff and at the appropriate time during public meetings,” said Monty Pagenhardt, county administrator. “The public will be notified of meeting dates and times and commentary will be welcome.
“The board has also scheduled a strategic planning retreat with senior county government staff in July and the board will seek input and insight from these individuals.”
Contact Angie Brant at abrant@times-news.com
If you or someone you know is considering 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! As member of the Garrett County Board of Realtors, I can assist you with ANY listed property, regardless of the listing broker.
