Steve Silverman on Real Estate Outlook (Video)
Montgomery County’s Economic Development Director, Steve Silverman, recently addressed the Silver Spring Citizens Advisory Board and provided a realistic, if somewhat “gloomy,” description of the commercial and residential real estate market in Montgomery County. Highlights included the 14% vacancy rate in newer commercial properties (Class A), little prospect for growth in development of commercial office space, the downturn is sales of residential properties, and the decline in overall property value in Montgomery County. Take a look.
For more information about the county’s economic development efforts, visit its website at Department of Economic Development (DED).