The Deep Creek Lake Resort Report Newsletter Spring 2017

e k a L k e e r C p e e D e h T RESORT REPORT Volume 10 Issue 1, Spring 2017 | 301.387.2000 • 301.387.2900 • www.Railey.com | 301.387.7777 • www.DeepCreekLodging.com

In This Issue...

How’s the Real Estate Market?

Maryland Bans Fracking Wisp Resort Announces Changes Garrett Chamber Reports Tourism Increases Railey Realty Sold Listings Invasive Species Issue RMLV Changes Ownership Donation to Water Level Study Local Happenings and News…

Maryland Bans Hydraulic Drilling

The Maryland House & Senate both recently voted to pass the bill banning hydraulic drilling, or fracking, in Maryland. Fracking is growing in popularity throughout the country, and is currently being used in neighboring states. In 2015, a 3-year moratorium for fracking in the state was passed. This time frame allowed for further research into the process and all positive and negative impacts associated. The bill was passed in March and signed into law

by Gov. Larry Hogan on April 4, 2017.

301.387.2000 • Main Office

301.387.2900 • Mid-Lake Office

MULTIPLE LISTING SERVICE

REALTOR®

Your 1st Choice in Real Estate Wisp Resort Announces New Hotel Name & Renovation Updates Prior to Wisp Resort’s 2016/2017 Winter Season, the resort announced more development plans for their 3-year project. Probably the biggest news was the new name for their iconic hotel, from Wisp Resort Hotel to The Lodge at Wisp. The 3-year renovation plan, which started in the fall of 2015 and will continue through the spring of 2018, has used $1.5M of the proposed $3.7M budget. Renovations have been made to 100 rooms in the hotel,

including all new furniture, new paint, and local photography. All rooms should be finished by the end of the project in 2018. Part of this renovation is to reshape the overall experience and impression that visitors have when visiting and staying at Wisp Resort. The outdoor experience has been upgraded as well, with improvements to the entrance and the addition of a gathering area with a fireplace.

These upgrades and additions will

Garrett County Chamber Reports Tourism Increases The Garrett County Chamber of Commerce recently released a statement, showing Garrett County and Deep Creek Lake with the highest increases in tourism in the state. The Maryland Office of Tourism published their first quarter findings for fiscal year 2017, which covers July 1 through September 30, 2016.

For sales tax revenue, Garrett County saw a 5.8% increase, while the state of Maryland grew 3%. Garrett

County realized a 7.8% increase in lodging sales tax collections and the state of Maryland saw a 5.5% increase for the same time frame.

benefit the appeal.

resort’s

year-round

These statistics follow the same trend from the same time frame of fiscal year 2016, however, the gap between the state of Maryland and Garrett County was larger in 2017 for these three months. The Garrett County Chamber credits much of the increase to their strengthened and targeted marketing efforts. 2016 was an incredible year as far as increased tourism numbers, with a whopping 19.3% increase in ‘heads on beds.’

For a complete, updated list of all our sold listings, please visit www.railey.com/sold-properties.

Railey Realty Sold Listings

4150 Garrett Highway Southern Area Home $549,000 - Nov. 2016

434 Gleanings Drive Lake Area Home $268,500 - Dec. 2016

3287 Maynardier Ridge Northern Area Farm $1,080,000 - Dec. 2016

7843 Sang Run Road Commerical $190,000 - Dec. 2016

197/209 Black Angus Dr. Lake Front Home $1,705,000 - Feb. 2017

22 Pennsylvania Ave. Grantsville Home $259,000 - Mar. 2017

114 Bee Tree Lane Lake Front Home $1,200,000 - Nov. 2016

75 Boulder Ridge Dr. Ski-In/Ski-Out Home $730,000 - Dec. 2016

1333 Deep Creek Dr. #5 Lake Front Condo $385,000 - Dec. 2016

82 Red Oak Way Lake Front Home $885,000 - Jan. 2017

517 Alder Street Oakland Home $129,500 - Feb. 2017

19 Lakeview Court Ski-In/Ski-Out Condo $255,000 - Mar. 2017

2300 Rock Lodge Road Lake Front Home $1,262,500 - Nov. 2016

67 Northlake Dr. #3A Lake Area Condo $260,000 - Dec. 2016

20160 Garrett Hwy #B202 Lake Front Condo $145,000 - Dec. 2016

320 Red Oak Circle Southern Area Home $500,000 - Jan. 2017

106 Second Street Commercial $115,000 - Feb. 2017

146 Sunrise Point Rd. Lake Front Home $1,750,000 - Mar. 2017

www.DeepCreekLodging.com

301.387.7777

The Deep Creek Lake Resort Report Efforts to Combat Invasive Species Intensifies Protecting and maintaining Deep Creek Lake happens in many different ways as threats and problems arise from many sources.

One recent threat on the rise has been invasive species that are entering Deep Creek Lake on the undersides of boats. You’ll now notice signs along main roads around the lake area alerting those bringing boats from other waters of

these risks. Certain species popular in other rivers and lakes can actually alter the underwater life at Deep Creek Lake. Lake stewards inspect boats as they’re launched in the water and remove any organisms from the boats before they enter the water. The biggest offender and threat to our eco-system is the zebra mussel. Some of the other offenders are hydrilla and Eurasian milfoil.

Railey Mountain Lake Vacations Changes Ownership Railey Mountain Lake Vacations was sold to an out of area company named TowneBank. TowneBank is a diverse financial services company that also owns two other vacation rental companies located in coastalbeach communities. We bring this

to your attention to clear up any misconception that Railey Realty was part of the sale. While we have always worked very closely with Railey Mountain Lake Vacations, the two companies have been separate organizations for nearly 25 years.

Property Owner Donates Fund for Water Level Study A Deep Creek Lake property owner donated $100,000 for a study on the water levels of the lake.

Ted Giovanis made the donation in memory of his late wife Jayne, who loved Deep Creek Lake and valued the lake’s health and future.

The Deep Creek Lake Watershed Foundation will oversee the study,

Local Happenings and News…

Our ‘Great Small Town’ is booming! Oakland has recently seen several new businesses come into the main strip downtown and fill the vacant spaces.

With more than 12 new businesses downtown, Oakland has definitely gotten a much needed recalibration.

The Oakland Revitalization Project started last year and aimed to help fill the empty storefronts. From restaurants to cafés to antique shops, there’s something new that’s suited for everyone.

We wish Nancy Railey the best in her future endeavors. If you have any questions, please feel free to reach out to your Railey Realty contact person at 301-387-2000 for additional information.

which will provide a day-by-day analysis of the lake’s water levels. As most people know, the lake’s water levels fluctuate due to precipitation and water releases from the dam.

Too much water causes shoreline erosion, whereas too little water can impact lake front homeowners and their docks. The results will

most likely be released in 2018.

The Annual WGW Community Youth Cup will be held June 23-24!

This two-day event features golf on two different courses, a large silent auction, a color run, a helicopter golf ball drop, and so much more. Friday’s golf takes place at scenic Lodestone Golf Course and Saturday’s golf takes place at the Oakland Golf Course. This awesome event benefits three very special, local charities: Andrew S. Woods Memorial Scholarship, Landon’s Library, and Samantha Funding the Arts.

In Memoria...

301.387.2000 • 301.387.2900

DELLAGATI -- Long-time Deep Creek Lake business owner and entrepreneur Michael James ‘Jim’ Delligati passed away in November.

The Delligati family is responsible for some of Deep Creek Lake’s most iconic places, including UNO’s, Arrowhead, and Garrett 8 Cinemas.

FRANKLIN -- Deep Creek Lake visionary and long-time resident Major General (ret.) Joseph P. Franklin passed away in March.

Franklin was instrumental in the development of the Thousand Acres community and golf course.

www.Railey.com

e k a L k e e r Deep C e h T RESORT REPORT 2 Vacation Way, McHenry, Maryland 21541

301.387.2000 • 301.387.2900 www.Railey.com • www.DeepCreekLake.com

PRSRT STD U.S. POSTAGE

Spring 2017

301.387.7777 www.DeepCreekLodging.com

Your 1st Choice in Real Estate

... The Leader in Deep Creek Lake Real Estate Now Serving You in Two Great Locations! en Prov

Results!

301.387.2000

2 Vacation Way McHenry, Maryland 21541

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.

301.387.2900

19567 Garrett Highway Oakland, Maryland 21550

Since 1995

Vacation Rentals Over 30 Years Experience in Western Maryland Area’s Most Productive and Experienced Sales Force

301.387.7777

www.DeepCreekLodging.com

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.

No Transaction Fees Focused ONLY on the Market that Means the Most to You!

* All data obtained from MRIS for the period 1/1/2016 to 12/31/2016 All data is believed to be accurate, but not guaranteed.

www.Railey.com • www.DeepCreekLake.com • www.DeepCreekLodging.com

PAID

PERMIT NO.