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Local Economy

Welcome > Local Info > Economy ...

Find Out More About the Montgomery County Area Economy & Job Market
 

The economy is booming in Silver Spring! The town is very excited about The Discovery Channel headquarters right here in our town. With the revitalization of downtown Silver Spring, many businesses are moving here, which has helped our economy more than we could have imagined! Downtown is in a very convenient location. Most businesses are within walking distance of the Metro, and the beltway can quickly take you to Baltimore & Annapolis! Silver Spring is very close to the Washington, D.C. line, making it very convenient to our Nation's Capital. We now have a Fresh Fields grocery store and a Starbucks coffee shop! The downtown area is beautiful once again! Our own Greater Capital Association of Realtors has also relocated here! We know a good thing when we see one! 

When Mike & I were children, we remember how our mothers would take us downtown to go shopping (and maybe stop at Crisfields for lunch!). It was a lovely place to go. Unfortunately, with all the malls that were built in the 1970s, people didn't go downtown as often, and it started to look a little "ragged". In the past few years, however, everyone has pitched in and worked on the revitalization, and what a change! It is once again a city to be proud of!
 

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Real Estate Tips

Financing Your Home >Hybrids Offer Low Rates

In the field of home financing, "hybrid" mortgages have grown in popularity with homebuyers. With interest rates gradually rising in today's market, the hybrid mortgage product saves money, provides a period of fixed-rate security and helps buyers qualify for financing.

Hybrid mortgage loans offer a very low fixed-rate for a period of time, usually from 5 to 7 years, then revert to an adjustable rate mortgage (ARM) for the remainder of the term of the loan. The interest rate is typically lower than with a 30-year fixed-rate loan, and the borrower has the assurance that the rate will not change for a period of years. Such a loan works well for buyers who plan on reselling the home within a finite period.

Other specialty mortgages now available include an ARM loan with a provision allowing it to be converted to a fixed-rate loan when that is a practical step for the borrower. Still others offer an interest-only loan that requires payments to be made on the interest only for a specified number of years, then reverts to an amortized loan with interest and principal payments each month. Consult with an experienced mortgage professional to determine whether one of these loan products will meet your needs.

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Real Estate Trivia

Q 
Which nation, fueled by an oil and manufacturing boom, claims the world's longest building?

A 
The "Linear City" of Malasia is currently the longest.
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Mike and Amy King, REALTOR®, real estate agent and broker for Montgomery County, Howard County, Silver Spring, Rockville and Olney, Maryland home listings, property and land for sale - NUMBER1EXPERT

Mike and Amy King
King Real Estate, Inc.

15308 Morningmist Ln
Silver Spring, Maryland 20906
Office: 240-242-4346
Amy's cell: 301-467-1877
Mike's cell: 301-467-5677
David's cell: (301) 706-8254
Fax: 301-598-1446
Email: king@NUMBER1EXPERT.com
Real Estate License: 5191
Amy's email: amyking@mris.com
Mike's email: mking@mris.com
David's email: dnmarshall@hotmail.com

Amy & Mike King have 24 years of combined experience in the Real Estate, Mortgage and Home Building industries! Their specialty is Real Estate in Montgomery County, but also have extensive experience in Howard and Price Georges counties. They are #1 when it comes to helping families make a smooth transition when moving here. Amy & Mike are a successful team who work together with you and for you!

Equal Housing MLS REALTOR


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