e k a L k e e r C p e e D e ThRESORT REPORT Volume 8 Issue 1, Spring 2015
In This Issue... Deep Creek Lake Real Estate Market Update New Home Sprinkler System
Requirements Precision Rafting Expeditions Spring Creek
Outfitters Mountaintop River Brings Smiles to Faces Introducing Deep Creek Lake.com Introducing Deep Creek Lodging Company Drone Photography Video Tours Local Happenings and News…
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Deep Creek Lake Real Estate Market Update Deep Creek Lake and Garrett County real estate markets had another encouraging year as 2014 came to a close. Last year ended on a very positive note, as total home sales in the fourth quarter were more than 40% compared to the previous year. For the entire year, total dollar volume and closed transactions once again improved, making it five straight years these leading indicators have increased. The upward trend in sales can mostly be attributed to the improving economy, lower interest rates, and lower prices. Excessive inventory in our residential sector has also gone down recently. That factor, coupled with the continued growth and planned improvements at Wisp Ski Resort, could lead to more favorable conditions for sellers as we head into the 2015 selling season. However, building lot inventory and demand still remain a problem. More than likely, they will stay soft for quite some time. A summary and highlights of our local real estate market include: • Total Deep Creek Lake area residential sales were up 14% in 2014. Total Garrett County residential sales were up 13%. • Total sales over $1 million doubled in 2014 to 16, up from eight the year before. However, the $1.5 to $2 million segment only had one sale last year. • There were three lake front sales over $2 million in 2014 with one of those being over $3 million. • The average residential sales price in the Deep Creek area was $450,734 for 2014, which was up a little over 4%. However, without the higher sales above, values overall remained relatively flat and continue to be soft.
Photo by Marcia Warnick
Experts predict interest rates will increase by the end of 2015. If you are actively buying, now is a great time to consider your options and lock in a rate. Waiting for prices to drop further can be risky, and could potentially lead to more costs later if rates rise. New construction housing continues to remain slow, and has been for the past several years now. This has limited newer house options for buyers. If you are considering or actively trying to sell now, houses that are newer or updated have a definite advantage. Painting or updating your house can give your property a distinct advantage in the current market. Whether you are buying or selling, the professional assistance of an experienced REALTOR is still very important. Railey Realty agents are the most experienced and productive in the area, involved in nearly 70% of all Deep Creek Lake area sales. Please contact us for a free market appraisal of your property or a free tour of homes for sale. We look forward to assisting you with all your real estate needs.
New Home Sprinkler System Requirements Starting June 30, 2015, any new house constructed in Garrett County, Maryland, will be required to have a sprinkler system. Initial estimates of adding a full sprinkler system on a new home with public water can add approximately $10,000 to the overall construction costs. Properties on a well can cost several times that amount. Those systems will require special pressure equipment and a holding tank that will substantially increase the costs. If you’ve purchased a building lot in
301.387.2000 • Main Office
Garrett County, and are considering building a new home soon, you will not be required to add a sprinkler system if you obtain an approved building permit before June 30, 2015. It is anticipated that the local permit office will be busy during that time, so, if at all possible, it would be a good idea to start the permitting process at least two months before the deadline. Building permits are good for one year from issuance and are non-transferrable.
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Precision Rafting Expeditions Precision Rafting Expeditions is Garrett County’s premier whitewater outfitter, offering whitewater rafting and kayak lessons since 1981. Located in Friendsville, Maryland, which is only 10 minutes from Deep Creek Lake, Precision Rafting strives to make every rafting trip memorable and action packed, while keeping safety a top priority. They offer rafting trips from mild family float trips for any age to action packed adventure on
the world class Upper Yough, Savage, and Potomac rivers. Precision Rafting provides guides in every raft, and safety kayakers accompany every class IV trip and above. You won’t find a more dedicated company committed to fun and safety than Precision Rafting Expeditions. They also offer half day, full day, and multi-day kayak lessons. Let Precision Rafting make your next adventure one you won’t soon forget. Just add water and they’ll do the rest!
Spring Creek Outfitters Spring in Garrett County is the beginning of a new fly fishing year. As the snow melts, the days get longer and the water starts to warm, and the insects and the trout become more active! The Casselman River, in Grantsville, is a great place to begin the season, with the low gradient and abundance of stocked fish, it is the first river to come into shape after a long winter. The Youghiogheny Delayed Harvest, in Friendsville, starts to fish
well as soon as the runoff is gone, as does the nine mile section of the North Branch of the Potomac, in Potomac Garrett State Park. Spring Creek Outfitters is a full service fly shop, and the first fly fishing guide service in Western Maryland, with over 22 years of experience in the area. For more information on these spots or for any other questions, visit w w w. s p r i n g c r e e k o u t f i t t e r. c o m or contact Spring Creek Outfitters at
For more information or to reserve a trip, visit www.precisionrafting.com or contact them at 800-477-3723 or info@precisionrafting.com.
Photos by Precision Rafting Expeditions
harold@springcreekoutfitter.com or 301-387-6587.
Photos by Spring Creek Outfitters
Mountaintop River Brings Smiles to Faces High atop Marsh Mountain, behind Wisp Resort’s Ski Area, lies an engineering marvel - a manmade, recirculating whitewater river that measures a third of a mile in length. Adventure Sports Center International, ASCI for short, boasts the only mountaintop whitewater river in the world. According to Mike Logsdon, Executive Director, since 2007, ASCI has served close to 12,000 guests during its mid-May to mid-October season. They provide two hour six person guided excursions in large rafts. Each raft is staffed with a professional guide, whose passion is to create a lifelong, memorable experience for both young and old.
The journey begins with each rafter getting equipped with professional grade safety equipment. After gearing up, each group receives a safety briefing from the trip’s lead guide in the Learning Pool, including paddling practice and teamwork building skills. Once the rafters are sufficiently prepared, rafters enter into the start pool. After three laps around, guests have an opportunity to stop at Swimmer’s Rock. Guides can show interested guests how to safely jump from the rock into the gentle current and swim. At the conclusion of the two hour session, guests return to the welcoming area to view photos taken of their adventure.
Besides rafting, ASCI provides learning activities in inflatable kayak (duckie) paddling, riverboarding, beginner whitewater kayaking; and on its 550 acre Fork Run Recreation Area is rock climbing and rappelling, mountain biking, nature hikes, and geocaching. For more information or to book a reservation, contact our resort partner Wisp Resort at 877-300-2724.
Photos by ASCI
Introducing DeepCreekLake.com
Railey Realty is proud to be the main sponsor and present the newly redesigned, user friendly area website - www.DeepCreekLake.com. The site is the leading source and an official guide for all information pertaining to Deep Creek Lake and Garrett County. The site’s many features include: • Business Directory • Weather • Vacation Rentals • Things to Do • History • Area News • Where to Eat • Real Estate Listings
www.DeepCreekLake.com
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The Deep Creek Lake Resort Report Introducing Deep Creek Lodging Company Railey Realty is proud to announce an affiliate partnership with Deep Creek Lodging Company, the area’s newest vacation rental company. Deep Creek Lodging offers a large selection of lake front, lake access, Wisp Ski Resort, and surrounding Garrett County vacation homes for rent. Conveniently located along Garrett Highway and open seven days a week, the company’s dedicated team of reservationists and property managers have many years of vacation rental experience and exceptional customer service skills. The company has far exceeded its goal and is projected to
be one of the largest and best vacation rental companies at Deep Creek Lake in the next few years. Commission rates and fees at Deep Creek Lodging are structured to ensure both the homeowners and the renters are getting the best deal possible. For more information about the benefits of renting your home, please contact Jennifer Cowgill at 301-387-5717 or jennifer@deepcreeklodging.com. Visit www.deepcreeklodging.com for our entire selection of vacation rental properties.
Railey Realty continues to be a lodging partner with Railey Mountain Lake Vacations, the area’s largest rental company at Deep Creek Lake. Visit www.deepcreek.com for more information about Railey Mountain Lake Vacations. We urge you to compare the benefits of each property management program when deciding which company is right for you.
Drone Photography Video Tours Railey Realty is proud to be one of the first local real estate companies offering high definition 1080p drone photography video tours for its listings. Drone photography is fast becoming very popular for real estate consumers searching online, and provides a distinct advantage when listing your house for sale. The drone can fly as high as 400 feet and take both still photos and video
footage that give the consumer a better perspective of house location, views, distance to the lake, the community, and other property features. The video tours can then be uploaded to many popular websites and social media including YouTube and Facebook for additional exposure. Please consult your listing agent about drone photography options for your house.
Local Happenings and News… Welcome New Sales Associates!
Railey Realty is proud to announce the addition of three sales associates, Nina Beitzel, Mike Cumerlato, and Rachel Bruch, to our dedicated and experienced sales team!
Featured on TV!
Deep Creek Lake’s Chanteclaire Farm, was recently premiered on Animal Planet’s Renovation Wild, showcasing the installation of a silo bar. They offer unique wedding, party, and event coordination on their beautiful grounds, including a renovated barn and pond. For more information, visit chanteclairefarm.com.
Deep Creek Lake is Turning 90!
Celebrate the 90th Anniversary of Deep Creek Lake June 11-14. Join Railey Realty in a Race Along the Lake 5K Run/2 Mile Walk Saturday, June 13th. Please contact us for more details at 301-387-2000. Visit www.visitdeepcreek.com for a list of all events and activities planned.
New Monthly E-Newsletter!
Railey Realty and Deep Creek Lodging Company are proud to announce our new monthly e-newsletters! Contact us at 301-3872000 or info@railey.com to receive the latest real estate and/or vacation rental news.
Photo by Justin Liller
Looking for a Good Mystery?
Best selling mystery author Lauren Carr uses Deep Creek Lake for the setting of her popular Mac Faraday Mystery series. In her latest installment, Three Days to Forever, a mystery must be solved before the happy couple can be married at Deep Creek Lake. For more information on all her books, visit mysterylady.net.
Save the Date!
Join us for the WGW Community Youth Cup June 26-27 and help benefit the youth of Garrett County while enjoying a day of golfing, a 5K Fun Run, and more family fun! For more information, visit wgwgolf.org.
New Tax Assessments --- Most Deep Creek Lake property owners have already received, or will soon receive
in the mail, a notice of their new property tax assessment. Please feel free to contact us if you would like an opinion on the value of your property or if you have any questions about your new assessment.
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Spring 2015
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... The Leader in Deep Creek Real Estate Now Serving You in Two Great Locations!
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It is not our intention to solicit clients from other Brokers or Property Managers with this newsletter. If your property is currently listed for sale or managed with another company, please consult that company.
Percentage of Total Lake Front Residential Properties Sold in 2014 Top MLS Brokers
Long & National Local All Other Foster® Brokerage Brokerage Brokers
Since 1995
19567 Garrett Highway Oakland, Maryland 21550
The goal of this newsletter is to keep you informed on the local real estate market, along with keeping you in touch with the issues impacting this market. We will also attempt to bring you interesting stories about the people and heritage that make Deep Creek Lake and Garrett County, Maryland such a special place.
Percentage of Lake Front
68% Residential Properties Sold
Percentage of Residential Dollar Volume Sold for the Deep Creek Lake Area
65%
Residential Dollar Volume Market Share in 2014 Top MLS Brokers
Over 30 Years Experience in Western Maryland Area’s Most Productive and Experienced Sales Force No Transaction Fees Focused ONLY on the Market that Means the Most to You!
Local All Other Long & National Foster® Brokerage Brokerage Brokers * All data obtained from MRIS for the period 1/1/2014-12/31/2014. All data is believed to be accurate, but not guaranteed.
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