Railey Realty Spring 2019 Resort Report Newsletter

e k a L k e e r C p e e D e h T RESORT REPORT

Volume 12 Issue 1, Spring 2019 | 301.387.2000 • 301.387.2900 • www.Railey.com | 866.544.3223 • www.DeepCreek.com

In This Issue...

How’s the Real Estate Market?

Railey Realty Celebrates 45 Years of Service Garrett County Seeing Record Breaking Tourism Another Successful Maryland Governor’s Cup Race Deep Creek Lake & Railey Agents Featured on HGTV

Current Mortgage Rates

Local Happenings and News…

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Your 1st Choice in Real Estate Railey Realty Celebrates 45 Years of Service From humble beginnings, Railey Realty has grown to be a locally recognized name and the leader in the Garrett County and Deep Creek Lake real estate market.

The Railey family owned and operated the first commercial cottage rental company, ‘Railey Cottages,’ and a bar and restaurant called ‘Stone Tavern.’ The Raileys built and rented these cottages to tourists visiting the still new Deep Creek Lake. Two generations later, Sis and Jim Railey moved back to Deep Creek Lake and took over the rental business. Violet eventually began helping people find and purchase vacation properties, essentially making her a pioneer in the resort property sales and vacation rental

management here at Deep Creek Lake. The Railey pair both got their real estate licenses and worked under Heavner realty for three years before receiving their own broker designation and founding Railey Realty Corporation in 1974.

Sis and Jim spent the early 70s working from their living room in the same house Sis still resides in today. In 1984, a new office across the lake on Route 219 was constructed to better serve clients and vacationers. This new office provided more space for agents, too, and Railey Realty began to really spread its wings.

Railey Realty would move one more time in 1997, to its current location at 2 Vacation Way next to

Garrett County Seeing Record Breaking Tourism In the last nine years, Garrett County’s accommodation sales have increased 58 percent. With $47.8 million in tax collections, FY18 had the highest sales on record for accommodations. The first quarter

of FY19 was 8 percent higher than FY18, with a 24 percent difference between August 2017 and August 2018, which totaled $1.7 M. Compared to the state of Maryland, Garrett County is seeing more than

the Garrett County Visitors Center. In 1995, Railey Realty became the area leader in market sales, and has held onto that designation since. The office has grown both inside and out, with more than 40 agents and two offices now serving our area!

At Railey Realty, we take pride in our team of dedicated and professional agents. Our market statistics are proof that our agents are among the highest producing and most experienced in the Deep Creek Lake and Garrett County area.

Our local expertise paired with our innovative and strategic marketing help us to better serve our clients and customers. We look forward to continuing our support & commitment to this wonderful area!

double the growth in nearly all categories, including tourism sales tax revenue, lodging sales tax, and amusement sales tax collection.

Garrett County welcomes approx.

1.2 M visitors each year.

Railey Realty Sold Listings

326 Mountaintop Rd Lake Access $1,650,000 - 04/19

40 Big Dipper Ct Ski-In/Ski-Out $645,000 - 06/19

160 Whitetail Ct Lake Area $345,000 - 06/19

11 Trailside Ct Lake Area $330,000 - 06/19

867 Marsh Hill Rd Lakefront $830,000 - 03/19

200 Stilwater Dr Lakefront $875,000 - 05/19

86 Moorings Way Lake Access $630,000 - 05/19

721 S. Blakeslee Rd Lake Access $567,500 - 05/19

38 Parkside South Ct Lake Access $862,500 - 04/19

1746 Stockslager Rd Lakefront $1,200,000 - 01/19

1926 Stockslager Rd Lakefront $762,000 - 02/19

414 Hazelhurst Ln Lakefront $750,000 - 02/19

614 Hickory Ridge Rd Lakefront $1,150,000 - 02/19

155 Cedarbrook Dr Lake Access $620,000 - 02/19

170 Mystic Creek #3B Lake Area $310,000 - 03/19

18 Sandy Beach Ln Lakefront $1,315,000 - 03/19

294 Lake Pointe Dr Lake Access $440,000 - 05/19

501 Dp Crk Highlands Rd Lake Access $860,000 - 01/19

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

www.DeepCreek.com

866.544.3223

The Deep Creek Lake Resort Report Another Successful Maryland Governor’s Cup Race The Maryland Governor’s Cup Race was a huge success! This annual race offers two days of skiing for all ages and skill levels. Hosted and organized by the Deep Creek Winter Sports Team, the race allows for all the team members to show off their hard work for the year. Railey Realty was happy to help sponsor this awesome competition!

Several members of our extended Railey Realty family won awards, too!

Elizabeth Green, daughter of agent and DCWST President Kellyann Green, was the fastest woman on the mountain! Elliott Perfetti, husband of agent Rachel Bruch, was the fastest man under 40. Rachel & Elliott’s

daughter Ava also won an award as a member of the DCWST. Agent and co-owner Jon Bell’s daughter Natalie had an awesome weekend and also received an award from the DCWST. The Maryland Governor’s Cup is usually held the second weekend in March. Congratulations to all of the racers who conquered the mountain!

The Deep Creek Winter Sports Team was founded by agent Kellyann Green and other community members looking for a program to help train and encourage the young winter sports enthusiasts.

The team, made up of local and out of area kids, averages 100 members each year! As a non-profit, parent-

run organization, the DCWST is a fantastic organization for Deep Creek Lake. There is also a snowboarding DCWST! You can read more about the DCWST at www.dcwst.org.

Deep Creek Lake & Railey Agents Featured on HGTV HGTV kicked off their brand-new season of Lakefront Bargain Hunt: Renovation June 1 with one of two new episodes featuring Deep Creek Lake and two Railey Realty agents!

The first episode to air, ‘Fix Up on Deep Creek,’ featured buyers Phi & Quyen who found a split-lakefront fixer-upper in the heart of Deep Creek Lake. The second Deep Creek episode, ‘Deep Creek Dreaming,’

Local Happenings and News…

NEW! Deep Creek Ax Throwing is open for business! Located in the lower level of the Monkey Business Adventure Park, this new business offers a fun challenge for anyone 16 or older. Learn how to throw the axes to stick to the target and test your accuracy against your family and friends!

followed two couples who were looking to find a lakefront fixerupper to share.

While the episodes have already aired, you can catch them ondemand or as re-runs on HGTV! This makes four episodes total featuring Deep Creek Lake and Railey Realty agents on Lakefront Bargain Hunt & Lakefront Bargain Hunt: Renovation.

Under new ownership, the Subway located at Trader’s Plaza reopened in May! The restaurant has been completely renovated and ready to serve customers prior to Memorial Day Weekend. Local businessman Bill Meagher, owner of the Lakeside Creamery, is the proud new owner.

301.387.2000 • 301.387.2900

Upcoming Events....

Art in the Park - July 13-14 Garrett County Agricultural Fair- July 27-Aug. 3 Deep Creek Art, Wine & Beer Festival - Sept. 7 Savageman Triathlon - Sept. 13-15 Autumn Glory Festival - Oct. 9-13

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

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Spring 2019

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... The Leader in Deep Creek Lake Real Estate en

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Now Serving You in Two Great Locations!

Results!

301.387.2000

301.387.2900

2 Vacation Way McHenry, Maryland 21541

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.

Vacation Rentals

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

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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.

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

* All data obtained from MRIS for the period 1/1 - 12/31/2018.

All data is believed to be accurate, but not guaranteed. Updated 1/2019.

www.Railey.com • www.DeepCreekLake.com • www.DeepCreek.com