March Real Estate Update - Deep Creek Lake & Garrett County. MD
The warm weather of March helped to improve the residential real estate market at Garrett County and Deep Creek Lake! There were a total of 16 sales (versus 14 for the same period last year). The stronger spring I spoke of last month has started to take shape. There are 44 contracts compared to last months 33.
7 of the 16 sales were considered Deep Creek Lake area properties, the rest appear to be primary residential.
The average list vs. ORIGINAL sales price was 69.5%, down 10% from last month. The biggest part of this number is the high listing numbers that sellers start with. I blogged about this last month, and it’s a national trend that is very real – EVERYTHING has adjusted in price. It’s a tough pill to swallow, but homes are not worth what they were 2-3 years ago. That’s a HUGE reason why some properties won’t sell – they are overpriced.
The ADJUSTED list vs sale price is 90% – up from last month. Once the market reacts and adjusts to prices & competition, the Realtors who assist in pricing property can adjust the asking price of properties for sellers who are willing & able to react. This number is a very telling stat – it shows that we are starting to narrow in on the price points for the local real estate market.
The current number of active/for sale residential listings is 605 as of today. This is up from last month (575) and will continue to grow as the spring and summer continue. Slowly but surely, our absorption rates are normalizing.
Here are the statistical breakdowns:
Average Sale Price: $404,031 (last month)$309,200
Average Days on Market: 220/275 (last month 164/296) (days on market with current broker/total days on market)
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
US Second-Home Sales Soar as Fractional Market Slumps
New research from the National Association of Realtors (NAR) shows vacation-home sales in the US rose 7.9% to 553,000 in 2009. Although well off the market peak of 1,067,000 sales in 2006, this represents the first time in three years the US vacation-home market has seen a lift.
Although the median sales price for vacation homes has increased to $169,000, up from $150,000 in 2008, this “may reflect increased sales in higher priced markets, particularly in areas of Florida and California where prices became highly attractive for buyers over the past year”, according to NAR chief economist Lawrence Yun.
Read the rest of the 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
Exploring Garrett County- Mount Zion and Backbone Mountain
Over Easter weekend, my father and both my kids accompanied me to the Sharpless family (my father’s side) cemetery on Mt Zion, off of Backbone Mountain. My grandfather passed away about a year ago, and this was originally the stomping grounds of the Sharpless family in Garrett County. If you haven’t seen Mt Zion, the views are amazing, there’s a lot of history in this area and it’s a beautiful area of the county. It’s also the road to the boat launch (on the Maryland side) of Jennings Randolph Lake. There is a great deal of coal here, and the strip mining is very evident. I took some photos of the coal mining, as well.
When looking around the grounds and cemetery, you will find the original tombstone of Michael Paugh, who served under General George Washington in the Revolutionary War. His family placed a plaque here, and it goes on to say:
1777 – Michael Paugh fought in the American Revolutionary War under General George Washington, spending the historical winter at Valley Forge Pennsylvania under George Washington;s command. After the war, Michael received allotments of land and settled in what is today known as Mt Zion, Garrett County, Maryland.
I’m not sure where the Sharpless family figures in to this story or why the graveyard is here, but I’ll be exploring that part of the family tree in the near future. In the meantime, here are some photos of the beautiful area of Mt Zion:
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| From Mount Zion, Backbone Mountain, Lost Land Run, Ramps! |
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| From Mount Zion, Backbone Mountain, Lost Land Run, Ramps! |
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| From Mount Zion, Backbone Mountain, Lost Land Run, Ramps! |
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| From Mount Zion, Backbone Mountain, Lost Land Run, Ramps! |
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| From Mount Zion, Backbone Mountain, Lost Land Run, Ramps! |
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| From Mount Zion, Backbone Mountain, Lost Land Run, Ramps! |
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| From Mount Zion, Backbone Mountain, Lost Land Run, Ramps! |
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| From Mount Zion, Backbone Mountain, Lost Land Run, Ramps! |
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| From Mount Zion, Backbone Mountain, Lost Land Run, Ramps! |
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| From Mount Zion, Backbone Mountain, Lost Land Run, Ramps! |
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| From Mount Zion, Backbone Mountain, Lost Land Run, Ramps! |
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
The Remnants of the American Legion in Oakland - Post Fire
The Cumberland Times reports on the American Legion fire – apparently, it was electrical:
http://times-news.com/local/x993487889/-NEW-Electrical-fire-damages-Oakland-American-Legion
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
Exploring Deep Creek Lake: Stockslager Road Area
My son Noah and I were exploring the Stockslager Area of Deep Creek Lake the other day. We were hiking along the old railroad path – the railroad was used to transport workers to and from their homes and the dam each day during construction. I actually found out later in the day that my great grandfather Sanders helped to remove the tracks at the completion of the project 🙂 We came to the fence that blocks off the Dam and Noah didn’t seem to understand why he couldn’t keep going – he wanted to move the fence to keep walking. There is a small stream there that feeds into little cove of the lake that I had never noticed before. We saw a few geese and started our hike back. We met Mr. Bill – a Stockslager resident who stopped to visit with his dog, Rags, while walking the trail. Very friendly guy, and the best part – a Redskin fan! I think there are actually 15 of us in Garrett County now 🙂 We ended up taking some photos of Brushy Hollow, another stream that flows from the back of the mountain into the lake. If you haven’t seen it, Stockslager is one of the unique places around the lake to hike and take in some sights – it is one of only a few places that has a lakefront hiking trail – thanks to the railroad path!
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| From Stockslager Road Area – Deep Creek Dam, Brushy Hollow, Sandy Beach, Penelacres |
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| From Stockslager Road Area – Deep Creek Dam, Brushy Hollow, Sandy Beach, Penelacres |
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| From Stockslager Road Area – Deep Creek Dam, Brushy Hollow, Sandy Beach, Penelacres |
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| From Stockslager Road Area – Deep Creek Dam, Brushy Hollow, Sandy Beach, Penelacres |
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| From Stockslager Road Area – Deep Creek Dam, Brushy Hollow, Sandy Beach, Penelacres |
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| From Stockslager Road Area – Deep Creek Dam, Brushy Hollow, Sandy Beach, Penelacres |
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| From Stockslager Road Area – Deep Creek Dam, Brushy Hollow, Sandy Beach, Penelacres |
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| From Stockslager Road Area – Deep Creek Dam, Brushy Hollow, Sandy Beach, Penelacres |
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| From Stockslager Road Area – Deep Creek Dam, Brushy Hollow, Sandy Beach, Penelacres |
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| From Stockslager Road Area – Deep Creek Dam, Brushy Hollow, Sandy Beach, Penelacres |
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| From Stockslager Road Area – Deep Creek Dam, Brushy Hollow, Sandy Beach, Penelacres |
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| From Stockslager Road Area – Deep Creek Dam, Brushy Hollow, Sandy Beach, Penelacres |
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| From Stockslager Road Area – Deep Creek Dam, Brushy Hollow, Sandy Beach, Penelacres |
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
SCHEFFEL WINS NATIONAL TITLE
From the front page of the Republican:
Three members of the state champion Southern High School wrestling team competed in the National High School Coaches Association Junior National Championships at Virginia Beach, Va., this past weekend, and one of those Rams, Jakob “Bubba” Scheffel, returned home with the national title in the 160-pound division. He is pictured above right with teammate Lex Ozias, who finished third in the 140-pound division. Both are juniors at Southern, and both are current Maryland state champions.
Bubba cruised through his bracket of 48 of the nation’s top 160-pounders, pinning four opponents and recording a 12-1 major decision over the fifth one. Ozias won four straight matches, was edged by a single point in his fifth match, and won his sixth to take third place among 57 wrestlers in his bracket. Bubba’s brother, senior George “Brutus” Scheffel, finished the senior division tournament with five wins and two narrow defeats. His division included nearly 80 wrestlers, and he was one of four 4-time state champions in the 145-pound bracket. Northern High School’s Adam Moranduzzo also competed in the senior tourney and won two of three matches in the 152-pound division.
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
Colin Lynch is headed to the USA Snowboarding National Championships
Lynch is currently ranked fourth overall in the nation in his age group (the largest age group in the competition). Additionally, he is one of only six youths who have qualified for and been invited to compete in all five disciplines: giant slalom, slalom, boardercross, slopestyle, and halfpipe. To qualify, Lynch competed in 20 events during the regular season in Maryland, Pennsylvania, West Virginia, and Virginia. This is his third appearance at the national competition, but the first time he has been invited to compete in all five events.
Lynch is a member of the Deep Creek Winter Sports Team and competes in the Appalachian region of USASA. He is sponsored locally by High Mountain Sports. His national sponsors are Nitro Snowboards and Bern Helmets. At Southern, Lynch is also a member of the boys’ soccer team and the boys’ track team.
Dormant Mineral Act Passes House, Senate Chambers
Dormant Mineral Act Passes House, Senate Chambers
Apr. 1, 2010
The Maryland Dormant Mineral Interests Act, introduced by Del. Wendell Beitzel and Sen. George Edwards, has cleared a key procedural hurdle this week that had prevented the bill’s passage in previous sessions.
The act, which adds Maryland to the list of states that have passed the Uniform Dormant Mineral Act, has unanimously passed both chambers.
The House measure was unanimously supported in 2009, but failed to even receive a hearing in the Senate.
“This is critically important legislation that must move forward for landowners in Garrett and Allegany counties,” Beitzel said.
Though it is a statewide bill, this legislation is important to both Garrett and Allegany counties, where there is evidence that a large amount of natural gas is located in the Marcellus shale, the delegate noted.
This year’s measure has even garnered the support of the Maryland Department of Natural Resources, he added.
Read the rest of the 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
GC Commissioners Approve Four New Water/Sewer Master Plan Amendments
The Garrett County commissioners on Tuesday unanimously approved the inclusion of four new amendments to the Garrett County Water and Sewer Master Plan. They pertain to the Overlook Ridge subdivision, Thayerville Public Water System, and Mountain Lake Water System.
Following a public hearing on the amendments, the commissioners signed a resolution to include the additions in the master plan. No members of the general public voiced their support for or objection to the amendments at the hearing.
Garrett County Public Utilities director Linda Lindsey said Pete’s Drive LLC, developer of the Overlook Ridge at Deep Creek Lake Condominium Subdivision, plans to construct a private water system to serve dwellings in that development. The community will consist of 8 family dwellings, 6 duplex units, and 16 townhouses for a total of 36 dwelling units.
The project will be constructed in three phases, which will begin with the single family homes.
The proposed water system will consist of two production wells, a raw water line from the wells to the control building, and potable distribution lines and appurtenances within the development.
Lindsey noted that the system will include three 2,500 gallon fiberglass storage tanks, and the total estimated daily withdrawal at full build-out is 9,450 gallons per day.
Construction, operation, and maintenance will be borne by the developer, and operation and maintenance of the system will be financed by the condominium association through its annual budget.
The project is located within the Thayerville Water Service Area, which was created last June. Upon completion of the proposed public water system that will serve that area, the Overlook Ridge development will be required to connect to the public system and abandon the private supply.
Overlook Ridge developers also plan to construct a sewage collection system. This project will be completed in two phases and will include sewer lines, a 9,000 gallon emergency holding tank, and a sewage grinder pumping station.
The cost of constructing this infrastructure will also be borne by the developer. Operation and maintenance of the on-site system will be financed by the condominium association through its annual budget.
Sewage treatment will be provided at the Deep Creek Lake Wastewater Treatment Plant, Lindsey noted.
The third amendment provides for the inclusion of the Thayerville Public Water System into the master plan. On Jan. 19, the commissioners awarded a contract to Rummel, Klepper & Kahl, which will provide design and construction phase engineering services.
The county has applied for financial assistance through the Maryland Department of Environment for the proposed system. For the purpose of the funding application, the total project cost – which includes administrative, engineering, construction, land, rights of way, and contingencies –was estimated at $11,229,000.
Read the rest of the 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
Western Maryland - north, south, west, but not east?
Frederick N. Rasmussen talks about the age old debate of whether Maryland is Northern or Southern in the Baltimore Sun. I got a kick out of the following about Western Maryland:
“Maryland is in many ways three states in one – all below the Mason-Dixon line, to be sure. Residents of far off Western Maryland, closer to Pittsburgh than Baltimore, tend to follow those professional sports teams. I remember being at Deep Creek Lake in the early 1980s trying to find a Baltimore newspaper and instead being confronted with stacks of Pittsburgh papers.”
Read the rest of the article here.
It’s true that most here tend to cheer more for the Pittsburgh Steelers, Penguins, & Pirates, though there are some of us who share our love of Pittsburgh sports with at least one other ‘Maryland’ team – my weakness is the Washington Redskins 🙂 So the way I look at it, my two favorite football teams have 9 Super Bowls between them! I have come to think of my teams as the Steelskins:
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
