Good Deal: Cabin For Sale At Maryland's Highest Point!
0 comments Published by Jon Bell on Tuesday, June 30, 2009 at 4:37 PM
Price Reduced!
New Asking Price: $199,900
152 Hoye Crest Road
Oakland MD 21550
MLS # GA6673226
Deep Creek Lake Home Buyer Alert: Views, Views, Views! If you have been looking for a Western Maryland "Cabin In The Woods" with views that will knock your socks off be sure to check out the property that Railey Realty has for sale at 152 Hoye Crest Road in the Backbone Ridge subdivision.
ESCAPE FROM IT ALL!
Click on the following link for more information on all Railey Realty properties for sale in the Backbone Ridge development: www.deepcreekrealestate.com/Backbone-Ridge.php
Direct: (301) 501-0735
Office: (301) 387-2000 x3089
Email: JBell@Railey.com
Good Deal: 3 Bedroom Log Home in Gallatin Woods at Deep Creek Lake - Jon Bell
0 comments Published by Jon Bell on Thursday, June 18, 2009 at 2:56 PM
Price Reduced!
Original Asking Price: $374,900
New Asking Price: $299,900
120 Gallatin Drive
Oakland MD 21550
MLS# GA6857265
Deep Creek Lake Home Buyer Alert: If you've been looking for a good deal on a Deep Creek Lake area home, you should check out the house Railey Realty has for sale at 120 Gallatin Drive.
About the house: Create memories that will last a lifetime in this secluded 3 bedroom, 2 bath, log home nestled in a low-maintenance resort community. This is the perfect setting to enjoy nature's beauty & the tranquil surroundings. With Deep Creek Lake and Wisp Ski & Golf Resort being just a few miles away, this picture-perfect home is sure to provide total relaxation along w/fun & excitement. This is a good potential vacation rental income producing property. Adjoining lot also available for $99,900-see GA6857310
Contact Jon Bell of Railey Realty For More Information
Direct: (301) 501-0735
Office: (301) 387-2000 x3089
Email: JBell@Railey.com
This property is listed for sale by Dawn Monahan of Railey Realty.
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Check out my Twitter account at: http://twitter.com/DCL_Realtor
I am new to Twitter but getting the hang of it. I already have several Deep Creek Lake Real Estate followers!
I promise that I will not post stuff like "what I had for lunch that day" but will do my best to post all new Railey Realty listings, price changes and other Deep Creek Lake real estate information. This should be a good way for Deep Creek Lake / Garrett County buyers and sellers to keep up to date with the local real estate market.
Deep Creek Lake Home Buyer Alert - Jon Bell
0 comments Published by Jon Bell on Saturday, May 30, 2009 at 10:48 AM
Price Reduced!
Original Asking Price: $449,900
New Asking Price: $369,000
1429 Mountainview Drive
Oakland, MD 21550
Contact Jon Bell of Railey Realty For More Information
Direct: (301) 501-0735 Office: (301) 387-2000 x3089
Email: JBell@Railey.com
Deep Creek Lake Home Buyer Alert: If you are looking for a good deal on a Deep Creek Lake access home, you should check out the house Railey Realty has for sale at 1429 Mountianview Dr.
jon bell, deep creek lake real estate, deep creek lake real estate blog, deep creek lake homes for sale
Aqua Mountain Construction Suspended – Jon Bell
0 comments Published by Jon Bell on Saturday, May 9, 2009 at 10:56 AM
An April 21st 2009 press release noted that after five years of planning, the Deep Creek Lake area developer Jonathan Kessler, announced that the Aqua Mountain water park construction project has been suspended.
Kessler admits that the chances of success for a water park project of this size in Garrett County, MD were a “lofty goal to achieve” but he had high expectations. When he first began the project in 2003 there were only 30 indoor water park resorts in North America but today that number has grown to 132. The success of these new water parks is attributed to “aggressive leveraging” with public and private partnerships which could not be created in Western Maryland.
Even with this setback the project has still been a success. On a portion of the Aqua Mountain site Kessler has already built the Lodges at Sunset Village. This log cabin style hotel is scheduled to open on June 29th 2009. The hotel is comprised of fourteen (14) high end log cabins that can accommodate up to 130 guest in 21 suites. Cabin sizes range from 512 sq. ft to 1,400 sq.ft.
Attention Developers: Kessler has also improved the nine acre Deep Creek Lake and Wisp Resort view building site located along Rt. 219 with an SHA entrance, public sewer and utilities. The property has over 600 feet on Rt. 219 (the major traffic artery in the Deep Creek Lake area) and provides many commercial/residential opportunities. The property is currently listed for sale with Railey Realty. Click here for more info on the 9 acre commercial property for sale at Deep Creek Lake.
Click here to view information on all Deep Creek Lake commercial properties that are for sale with Railey Realty.
I took the pictures below of the Aqua Mountain site last summer while hiking up Oden's Chute at the Wisp Resort. It should help to give a good perspective of the location of the property that is for sale. Please feel free to give me a call on my direct line (301) 501-0735 if you have any questions, or if you would like to schedule a time to meet and take a first hand look at any property that sparks your interest.
jon bell, deep creek lake real estate, deep creek lake real estate blog, deep creek lake homes for sale
Deep Creek Lake waterfront commercial property for sale $4,995,000
0 comments Published by Jon Bell on Monday, April 6, 2009 at 12:44 PM
Point View Property For Sale:MLS# GA7020479
For decades this historic waterfront site at Deep Creek Lake has offered waterfront lodging, restaurant, a lounge and boat docking to thousands of visitors at Deep Creek Lake. Many will remember the beautiful sunsets glistening on the waterfront while dining or just relaxing to let the day pass. View the Inn at Point View website at the following link: http://www.pointviewinn.com/
Currently the hotel/restaurant structure requires renovations or removal. A separate waterfront lounge "The Boardwalk" will continue to operate. Visions of current owners Don & Amy Nemith to build a hotel conference center or residential town homes are potentially the highest and best use of this property.
SITE DESCRIPTION:THE PROPERTY SIZE CONSISTS OF TWO (2) PARCELS SITUATED ALONG THE SOUTHWEST SIDE OF U.S. ROUTE 219 IDENTIFIED AS THE POINT VIEW, LLC PROPERTIES. THE PARCELS ARE CONTIGUOUS, PARCEL A, 1.916 ACRES (83,446 SQ FT) AND PARCEL B. 0.218 ACRES (9,487 SQ FT) PARCEL A HAS A PRESCRIPTIVE RIGHT-OF-WAY OF 0.251 ACRES (10,926 SQ FT) THIS R-O-W IS A PORTION OF DEEP CREEK DRIVE NEVER DEEDED TO THE STATE OR COUNTY. THE PROPERTIES ARE MORE PARTICULARLY IDENTIFIED IN LIBER 1250 FOLIO 158 FOUND AMONG THE LAND RECORDS OF GARRETT COUNTY, MARYLAND. THE U.S. BUREAU OF CENSUS IDENTIFIES THE NEIGHBORHOOD OF THE SUBJECT PROPERTY AS CENSUS TRACT 0023.005.
TOPOGRAPHY:
THE LAKE FRONT PARCEL IS LEVEL AT ROAD GRADE ALONG DEEP CREEK DRIVE SLOPING TOWARDS THE SHORELINE OF DEEP CREEK LAKE. THE NORTH SIDE OF DEEP CREEK DRIVE PARCEL RISES TOWARD U.S. RT 219 GARRETT HIGHWAY.
UTILITIES:
THE PARCELS ARE SERVED BY PUBLIC SEWER UTILITIES AND DRILLED WELLS. THE EXISTING “DEVELOPED” PORTION OF THE PROPERTY ARE “ALLOTTED” A TOTAL OF 23 ERU’S OF WHICH 14 ARE ACTIVE AND 9 ARE INACTIVE ACCORDING TO GARRETT COUNTY DEPARTMENT OF PUBLIC UTILITIES. ELECTRIC AND TELEPHONE SERVICE LINES ARE EVIDENT ALONG DEEP CREEK DRIVE.
FLOOD HAZARD:
THE SUBJECT PROPERTIES DO NOT LIE WITHIN A DESIGNATED 100-YEAR FLOOD PRONE AREA AS NOTED ON COMMUNITY PANEL#240034-0065B DATED 6/5/85.
PROPOSED LAND USES:
ANALYZING THE PROPERTY AS IF VACANT, THE VALUE OF THE LAND CAN BE DETERMINED BY POTENTIAL, RATHER THAN ACTUAL USE. THE POSSIBILITY OF REMOVING ANY EXISTING IMPROVEMENTS IS THE PREMISE FOR THIS CONCEPT. THE IMPROVEMENTS CAN BE CHANGED BUT THE BASIC PHYSICAL CHARACTERISTICS OF THE SITE CANNOT. ANALYZING THE PROPERTY AS IF IMPROVED, THE USE OF POTENTIAL IMPROVEMENTS THAT WILL PROVIDE MAXIMUM FINANCIAL RETURN IS CONSIDERED.
IN ORDER FOR THE SITE TO FULFILL ITS HIGHEST AND BEST USE, THAT USE MUST MEET FOUR (4) CRITERIA: (1) IT MUST BE PHYSICALLY POSSIBLE, (2) LEGALLY PERMISSIBLE, (3) FINANCIALLY FEASIBLE, AND (4) MAXIMALLY PRODUCTIVE.
THE SITE IS ZONED (TC) “TOWN CENTER” WHICH ALLOWS A WIDE VARIETY OF COMMERCIAL AND RESIDENTIAL USES.
FOLLOWING ARE (2) SITE DEVELOPMENT OPTIONS WITH TENTATIVE APPROVAL ASSUMING THE REMOVAL OF THE EXISTING STRUCTURES.
CONDOMINIUM HOTEL:TENTATIVE APPROVAL TO CONSTRUCT A 40 UNIT CONDOMINIUM HOTEL CONFERENCE CENTER WITH RESTAURANT AND MIXED USE RETAIL SPACE. THIS USE RECEIVED ZONING VARIANCES FOR HEIGHT AND SETBACKS THAT EXPIRE DECEMBER 2010.
PROPOSED UNITS WOULD RANGE IN SIZE FROM 800 TO 1500 SQUARE FEET WITH (3) 4,500 SQ FT PRIVATE PENTHOUSE UNITS EQUIPPED W/ GARAGE AND ELEVATOR. MAIN LEVEL RETAILS SHOPS FOR LEASING, RESTAURANT/LOUNGE OVERLOOKING THE LAKE AND FITNESS CENTER AND INDOOR POOL ARE PART OF THIS DESIGN CONCEPT.
TENTATIVE APPROVAL BOAT DOCKING USE 39 DOCK SLIPS ALONG 610 FEET OF LAKE FRONTAGE. OWNERSHIP OF THE INDIVIDUAL UNITS COULD BE FEE SIMPLE, FRACTIONAL OR TIME SHARE AT THE DEVELOPER DISCRETION.
TOWNHOME UNITS:THE SIZE, SHAPE, LOCATION AND UTILITY OF PARCEL ”A” OF THE PROPERTY IS CONSIDERED SUFFICIENT TO SUPPORT ATTACHED RESIDENTIAL DEVELOPMENT AS PRESENTED ON THE ATTACHED SKETCH. THE PLAN OF DEVELOPMENT ALLOWS THE SITE TO ACCOMMODATE (8) ATTACHED TOWNHOUSE UNITS, TWO SETS OF 4 EACH, ON THE LAKEFRONT SITE AND SEVEN (7) ATTACHED TOWNHOUSE UNITS ON THE LAKE ACCESS SITE NORTH OF DEEP CREEK DRIVE.
THIS PORTION OF THE PROPERTY IS ACCESSIBLE TO THE NORTHWEST MARGIN OF DEEP CREEK DRIVE. THE SIZE, SHAPE, LOCATION AND UTILITY OF THE SITE ALLOWS FOR SEVEN (7) TOWNHOUSE UNITS. THE SITE PLAN AS PROVIDED DEPICTS THE PLACEMENT OF THE UNITS SO AS TO MAXIMIZE THE VIEWS OF DEEP CREEK LAKE.
LAKEFRONT AND LAKE ACCESS TOWNHOME UNITS AS DESIGNED, ARE 4,207 SQ FT W/ GARAGE AND PRIVATE ELEVATOR.
THERE IS POTENTIAL FOR (12) BOAT SLIPS AND (2) TRANSIENT BOAT SLIPS BASED ON EXISTING LAKEFRONTAGE. FINAL APPROVED IS REQUIRED THROUGH DEVELOPMENT PERMIT W/ THE DEPARTMENT OF NATURAL RESOURCES.301-387-4111
View http://www.pointviewforsale.com/ for Site Description, Proposed Land Uses, Condominium Hotel, Town Home Units, Aerial Map, Zoning, DNR, Phase I Environmental, Appraisal and Demographics.
Call Jon Bell of Railey Realty for more information or to set up a private showing of the property. Direct: (301) 501-0735 Office: (301) 387-2000
Click on picture below for a bigger site plan image:
Has the next real estate boom already started? – Jon Bell
0 comments Published by Jon Bell on Tuesday, March 31, 2009 at 3:38 PMIn the movie Charlie Wilson’s War, Phillip Seymour Hoffman’s character tells the story of a village Zen Master who observes his people celebrating because a young boy was given a horse. When the town tells the Zen Master how wonderful the gift is, he simply responds by saying “we’ll see.” Later the boy falls off the horse and breaks his leg. The town thinks that the horse is cursed and tells the Zen Master how horrible the situation is. Again, the Zen Master replies “we’ll see.” Later, a war breaks out and the boy can’t go off to fight because he has a broken leg. The town celebrates the fact that the child will not have to fight. When asked his opinion the Zen Master once again responds by saying “we’ll see.”
Real estate author Frank Cook (21 Things I Wish My Broker Had Told Me) published the article “Tap tap tap… ‘hello’… ‘hello’… is this thing on? OK, ah, everybody, we’d like to announce the next real estate boom will begin in January…” in the winter 2009 issue of ALQ/Real Estate Intelligence Report where he reports that we saw the rise of the real estate industry from 2001 – 2005, the fall from 2006 – 2008 and we are now entering the recovery 2009 – 2011. Frank sarcastically, but truthfully, recalls that in the early 2000’s the media didn’t announce that the nation was in a real estate boom. The announcement of the real estate boom didn’t come until the end of 2004 – 2005, when the market was at its crest.
Frank writes that by 2005 he was hearing cab drivers talking about how many homes they had bought and how much leverage they have. He states that “When all is said and done, when the history is written, it will be determined that all those cab drivers – the amateurs who went into real estate investing too late – got burned” and that “the people who made money on the rise, it will be seen, were professional investors who knew what they were doing, who studied markets and armed themselves with the relevant data, and began their buying late in 2000 or even before.” Frank predicts that “some great fortunes in America are about to be made as we emerge from this market.”
It looks like Frank's theory holds true for the Deep Creek lake front real estate market. According to MRIS, the Deep Creek Lake area’s MLS provider, the average sold price for a detached lake front home sale in 2000 was $431,920. By 2005 the average sold price for a detached lake front house jumped to $835,843. Luckily the Deep Creek Lake area is a truly amazing four season resort destination with high vacationer demand, and although there has been a slight decline, we have avoided a significant portion of the national real estate price decline. The average detached lake front home sale in 2008 was down to $967,867 just a little shy of 2007’s height of $970,268.
Now is now a good time to buy a second home at Deep Creek Lake. Interest rates are at, or near, historic lows. Monthly payments are more affordable to vacation home buyers than ever and second home loan credit is readily available for qualified borrowers. Credit is flowing pretty easily for those with good a credit history, and not all bank programs require 20% down. Who thought that we would ever see second home loans in the 4.5% to 5% range?
There is also high level of housing inventory in the Deep Creek Lake area. There are a lot of great houses on the market at great prices. Not all sellers are in a pinch with a strong need to sell but some are... So far, in 2009 I have found some unbelievable deals for my customers and am in the process of purchasing a rental property for myself.
So - back to the original question:
Has the real estate recovery (or boom according to Cook) already started? The all-knowing Zen Master would say “we’ll see…”
jon bell, deep creek lake real estate, deep creek lake real estate blog, deep creek lake homes for sale
