Local Economy

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Montgomery County, MD Economy

In addition to the rapid economic development in Silver Spring, the local government provides highlights of the county overall. You’ll quickly see why Montgomery County is a great place to live and work.

•	Montgomery County is a recipient of the prestigious “All America Community” Award, in recognition of outstanding quality of life
•	Montgomery County is the most highly educated community in the United States, with 59% of the workforce holding a Bachelors Degree or higher, and 38% holding a post graduate degree (Source: 2000 Census)
•	Montgomery County has been rated Number-One in the nation in agricultural land preservation, with over 30% of the County’s entire land area set aside as parkland, agricultural reserve or other quality open-space
•	Montgomery County is the largest jurisdiction in the State with a total population of over 975,000 people
•	Montgomery County is the leading job center in Maryland

For more information on Montgomery County from an economic perspective visit:
Montgomery County Government

Montgomery County Chamber of Commerce

Maryland Department of Labor, Licensing and Regulation

Montgomery Works

Silver Spring, Takoma Park and Bethesda are great places to live and work. To learn more about these areas or to find homes in the Washington Metro area, email or call me now! The perfect home is waiting for you and I can help you find it. . .

Find Out More About the Silver Spring, Takoma Park and Bethesda Area Economy & Job Market

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Real Estate Tips

About Appraisals >Three Caballeros

When you buy a house or refinance your present home, your lender will ask you to pay for an appraisal to help ensure that the sales price and mortgage amount is consistent with the property's market value. The appraiser will look for "three caballeros" or three "comparables" -- homes that are very similar to the one you are buying -- and will make adjustments to reflect the differences between the properties.

Housing patterns tend to be homogenous, meaning that homes worth $300,000 are usually located in $300,000 neighborhoods. It is important for properties to be within the general pricing patterns of their neighborhoods because over-valued homes, even if they are exceptional, are sometimes difficult to sell at full market price.

This is not the only factor considered in determining the worth of a property, but it is an important one. The buyer or seller may view the property as a home or an investment, but lenders view it in a completely different way. To a lender, property means security in the event a borrower fails to repay a mortgage. Therefore, lenders must know real estate values in order to limit their risks.

	See All Tips In The "About Appraisals" Category >
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Real Estate Trivia

Q	Where would you go to visit the largest ancient castle in the world?
A	You would travel to Prague, Czech Republic, to see the Prague Castle, built in the 9th century, with a total surface area of 18 acres.
See More Real Estate Trivia >

Rhonda Mortensen, REALTOR®, real estate agent and broker for Silver Spring, Takoma Park and Bethesda, Maryland home listings, property and land for sale - NUMBER1EXPERT

Rhonda Mortensen
Long & Foster Real Estate Inc.
Bethesda Gateway Office
4650 East West Highway
Bethesda, Maryland 20814
Office: 301-907-7600
Home: 301-585-1180
Toll Free: 800-762-0294
Fax: 301-907-6610
Email: rhondamortensen@NUMBER1EXPERT.com
Email: rhondamortensen1@gmail.com
Together we will work as a team to buy the perfect house or sell your current home. My role is to listen and understand your needs, wants, requirements and timelines with 100% clarity. Then, with my market expertise, we will develop a solid plan of action. Rest assured, I will be in contact with you daily with new leads so that we can move swiftly against timelines. I will be available to you at all times via phone, email or in-person – whichever style of communication you prefer. Contact me now!

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