http://deepcreeklake.com/RealEstate/JayFerguson/detail.aspx?id=GA8034122
| Tastefully remodeled home in Mitchell Manor, boasting 3,800 sf of living space, gourmet kitchen, h/w floors, 2 car garage, in-law suite, and one of the best backyards you could ever dream of! Spend your days lounging by the swimming pool with pool house, outdoor fireplace, privacy fence, plenty of decking and surrounded by beautiful gardens & greenery. Perfect for entertaining! Must see! |
The overall economic recovery is betting big on real estate’s continued progress. After all, a stronger real estate market can lead to a stronger job market.
Strength in the real estate sector tends to lead to increased hiring in various housing-related industries, from carpenters and landscapers to real estate agents, loan processors, appliance manufacturers, furniture makers, and more.
When it comes to job creation, “the most promising news is related to the housing market,” says John Challenger, CEO of employment consulting firm Challenger, Gray & Christmas.
The construction sector for housing added 28,000 jobs in January alone.
OAKLAND — The Maryland Department of the Environment will send letters in the coming weeks concerning new recycling requirements for owners of apartment buildings or condominiums that have 10 or more units, according to Garrett County Solid Waste and Recycling.
These property owners will be required to provide recycling to their tenants by Oct. 1, 2014, in accordance with House Bill 1, which was passed during the 2012 legislative session. The bill requires that tenants are given the opportunity to recycle metal containers, plastic containers, glass containers and paper.
Garrett County will need to adopt an amendment to its 10-year plan in order to comply with the legislation. An opportunity for public comment will be provided sometime before the bill’s effective date. The language for the amendment still needs to be drafted and MDE will have to approve the language before it can be adopted, according to Dave Baker, manager of the Department of Solid Waste and Recycling.
The bill also provides for enforcement of the law. Each county can address how it will handle violations as part of the language adopted into the 10-year plan.
For more information or to comment, call 301-387-0322.
MDE has also offered to take questions directed to either Tariq Masood, regulatory and compliance engineer, at 410-537-3326 or tmasood@mde.state.md.us or David Mrgich, chief, Waste Diversion Division at dmrgich@mde. state. md.us or 410-537-4142.
Just finished working on our new ‘web friendly’ portal websites with Long & Foster. Awesome accessibility and I really like the larger photos – they make a huge difference with searching.
http://jayferguson.lnf.com/
If you are thinking of buying or selling real estate in Garrett County or Deep Creek Lake, Maryland, call Jay Ferguson of Long & Foster Real Estate for all of your real estate needs! 877-563-5350
Press Release Realtor.org
Washington, January 05, 2010
Contract activity for pending home sales fell after a surge of activity in preceding months to beat the original deadline for the first-time home buyer tax credit but remains comfortably above a year ago, according to the National Association of Realtors®.
The Pending Home Sales Index,* a forward-looking indicator based on contracts signed in November, fell 16.0 percent to 96.0 from an upwardly revised 114.3 in October, but is 15.5 percent higher than November 2008 when it was 83.1.
Lawrence Yun, NAR chief economist, said a drop was expected. “It will be at least early spring before we see notable gains in sales activity as home buyers respond to the recently extended and expanded tax credit,” he said. “The fact that pending home sales are comfortably above year-ago levels shows the market has gained sufficient momentum on its own. We expect another surge in the spring as more home buyers take advantage of affordable housing conditions before the tax credit expires.”
Buyers who have a contract in place to purchase a primary residence by April 30, 2010, have until June 30, 2010, to finalize the transaction to qualify for the tax credit of up to $8,000 for first-time buyers and $6,500 for repeat buyers.
The PHSI in the Northeast dropped 25.7 percent to 74.4 in November but is 14.7 percent above a year ago. In the Midwest the index fell 25.7 percent to 82.0 but is 9.2 percent higher than November 2008. Pending home sales in the South fell 15.0 percent to an index of 97.8, but are 14.7 percent higher than a year ago. In the West the index declined 2.7 percent to 124.6 but is 21.4 percent above November 2008.
Yun projects an additional 900,000 first-time buyers will qualify for the extended tax credit in addition to about 2 million who have already purchased; 1.5 million repeat buyers also are expected to benefit from the credit.
“Many trade-up buyers, who have historically timed their purchase based on school-year considerations, will have to accelerate their buying plans if they need the tax credit to make a trade,” Yun said. Repeat buyers do not have to sell their existing home to qualify for the credit, but they must occupy the home they buy as their primary residence.
Yun added that mortgage interest rates cannot remain at rock-bottom levels for a sustained period and will likely inch higher in 2010. But the tax credit impact in the first half of the year and expected job growth impact in the second half will support home buying activity and absorb enough inventory to bring a rough balance between buyers and sellers. Home prices are expected to stabilize or even modestly rise as a result in 2010.
The National Association of Realtors®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.2 million members involved in all aspects of the residential and commercial real estate industries.
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*The Pending Home Sales Index is a leading indicator for the housing sector, based on pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed, though the sale usually is finalized within one or two months of signing.
The index is based on a large national sample, typically representing about 20 percent of transactions for existing-home sales. In developing the model for the index, it was demonstrated that the level of monthly sales-contract activity from 2001 through 2004 parallels the level of closed existing-home sales in the following two months. There is a closer relationship between annual index changes (from the same month a year earlier) and year-ago changes in sales performance than with month-to-month comparisons.
An index of 100 is equal to the average level of contract activity during 2001, which was the first year to be examined as well as the first of five consecutive record years for existing-home sales.
Existing-home sales for December will be reported January 25 and the next Pending Home Sales Index will be on February 2; release times are 10 a.m. EST.
If you are thinking of buying or selling real estate in Garrett County or Deep Creek Lake, Maryland, call Jay Ferguson of Long & Foster Real Estate for all of your real estate needs! 877-563-5350
Located in scenic Garrett County, Maryland, the office of Craig Ingram provides legal and accounting services. Serving the Oakland, Deep Creek Lake and surrounding area, the legal practice concentration is in real estate transactions. Other services include business organization and estate planning, taxation, and administration. The accounting practice primarily serves those clients requiring assistance with federal and state income tax compliance.
322 Alder Street
Oakland, MD 21550
Telephone: (301) 334-3724
Fax: (301) 334-1028
http://www.cingram.com/
If you are thinking of buying or selling real estate in Garrett County or Deep Creek Lake, Maryland, call Jay Ferguson of Long & Foster Real Estate for all of your real estate needs! 877-563-5350
‘Clustering’ now included as an option
Megan Miller
Cumberland Times-News
OAKLAND — A second round of draft updates to Garrett County land ordinances makes more concessions for development and places fewer restrictions on land use, after public protests caused officials to rethink stricter regulations in a previous draft.
The long process of updating the planning and land development ordinances entered a new phase last week with the release of revised drafts for public review. The documents — drafts of the subdivision ordinance, sensitive areas ordinance and Deep Creek watershed zoning ordinance — contain a second round of changes, following the first changes and public comment period that took place in the fall.
The first versions spurred some public uproar over a provision that would affect the development of rural resource and agricultural resource land. That provision would have required at least 66 percent of subdivision land parcels in those areas to be set aside as “resource parcels,” or open land.
The provisions do not affect the entire county, but only areas specifically designated “agricultural resource” and “rural resource.” However, those two areas do span large portions of the county.
The resource parcel stipulation was intended to protect areas of forest, natural resources and farmland from development, according to its language. It would have prevented sprawling development by requiring the majority of a parcel to be set aside, and clustering development onto lots of no minimum size on one-third of the parcel.
“It’s trying to preserve a portion of the land to keep it as productive farmland or productive timberland,” said John Nelson, director of planning and land development. “That’s the real purpose of the clustering. What we’re saying is, create smaller lots but save a portion of the land. Maybe it would belong to a homeowners association, and they could lease it as a farm.”
But many farmers and other landowners spoke out against the measure, arguing that it directly or indirectly placed too many restrictions on how the land could be used.
Paul Miller, president of the Garrett County Farm Bureau board of directors, said his organization objected because they saw the clustering requirement as an infringement on private property rights, affecting the way landowners could sell their land. It could also have driven down property values by restricting potential land uses, he said.
Due to those and other public objections, the clustering requirement has been removed in the latest draft, Nelson said. Instead, the document includes clustering as an option, and contains incentives to attempt to encourage that type of development, he explained.
Miller said the latest draft of the ordinance has addressed his concerns.
“If it holds as it is, we’re satisfied,” he said.
A provision in the first draft of the updated Deep Creek watershed zoning ordinance also caused a stir because it would have put strict requirements on development on crests and ridge lines visible from the surface or shoreline of the lake. The proposed changes also would have required trees to be planted between structures and the lake to screen them from view.
“About four years ago we had held public meetings about people’s views on changes and development in the county,” Nelson said. “The development that is occurring on the ridge lines around the lake was the No. 1 response. People were worried about the development taking away from the natural scenic beauty of those ridges.”
But the strict requirements didn’t sit well with people specifically interested in those properties for the development potential and unobstructed lake views. In the latest draft, the provision has been changed to require only that trees be planted around the sides and rear of new structures to help them blend into the surrounding vegetation, Nelson explained. No trees are required for the front, or lake-facing side.
The county planning commission has been working on the ordinance updates since spring 2009, mainly because state law requires the ordinances to be adjusted to remain consistent with changes to the county comprehensive plan adopted in 2008, according to Nelson.
A public hearing on the latest versions of the ordinances will be held in coming weeks, though nothing has been scheduled yet.
Updated versions of the ordinance drafts and maps are available online on the county Web site at. www.garrettcounty.org
If you are thinking of buying or selling real estate in Garrett County or Deep Creek Lake, Maryland, call Jay Ferguson of Long & Foster Real Estate for all of your real estate needs! 877-563-5350
There were a total of 29 residential sales in the month of December in Garrett County and at Deep Creek Lake. This pace is slightly ahead of last year (27 sales – Dec 2008).
This is certainly debatable, but 12 of these sales appear to vacation homes or 2nd homes, while the majority are primary residential. This certainly makes a difference in pricing strategies, specifically demand-based pricing.
The average list vs. ORIGINAL sales price is 84.49% (up slightly from November), though the ADJUSTED list vs. sales price is 90.96% of asking price (almost identical to November).
The current number of active/for sale residential listings is 602. 23 of these homes are under contract.
Here are the statistical breakdowns:
If you are thinking of buying or selling real estate in Garrett County or Deep Creek Lake, Maryland, call Jay Ferguson of Long & Foster Real Estate for all of your real estate needs! 877-563-5350
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If you are thinking of buying or selling real estate in Garrett County or Deep Creek Lake, Maryland, call Jay Ferguson of Long & Foster Real Estate for all of your real estate needs! 877-563-5350
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