Home Buying in Olney>Question Details

Gary, Home Buyer in Olney, MD

Is buying a home in Olney, maryland a safe bet these days?

Asked by Gary, Olney, MD Fri Oct 17, 2008

Help the community by answering this question:


Michael, you don't "lose" anything unless you're planning to sell. Rent is real money you'e putting out every month. lost equity won't affect your cash flow.
2 votes Thank Flag Link Mon Oct 20, 2008
A safe bet? As safe as any others. Good, old and new neighborhoods and good schools in Olney. Low crime in general, excluding the subsidized sections and apartments Montgomery County has blessed us with.

2 votes Thank Flag Link Fri Oct 17, 2008
Of course!
Oney is a great city for schools, home values and in general a great atmosphere for a family.
If you need detailed community information about different neighborhoods in the area. . drop me a line, I will be glad to sent it your way.
Web Reference: http://reallynicehomes.com
1 vote Thank Flag Link Fri Oct 17, 2008
I work in Olney, live in Olney, and am at the top Real Estate Company in Olney. Re/Max Realty Centre. . I'm interested in knowing - this question was posed in 2008. It's 6 years later and am wondering whether you purchased in Olney and, if so, what do you think about your investment? If not, I'd like to know where you decided to purchase. I can't believe this question is still out there being 6 yrs old. LOL
0 votes Thank Flag Link Sat Oct 11, 2014
I've lived in Olney for > 30 years and witnessed it grow up. It had a reputation of being "far out" but, in reality, it borders on Rockville and Silver Spring. Worst = no subway stop. If you work in D. C., this means bus to station or drive to and expensive park at station. Several excellent restaurants and groceries. Notable live theater. Hospital. Mixed neighborhoods of upper middle class professionals. Kids grow up in good environs. Gaithersburg is maybe 10 miles away. Rockville Pike maybe 8-10 miles, depending where in Olney. Georgia Ave (route 97) is SLOW at rush hours, but that's not unique to Olney.
0 votes Thank Flag Link Sat Jul 12, 2014
All Markets are intrinsically prone to volatility. But you need to live somewhere, right? And you might as well live somewhere you like.
0 votes Thank Flag Link Sun May 9, 2010
Nothing is ever 100% safe, however, real estate is still a good investment (from an equity building and tax perspective).
0 votes Thank Flag Link Tue Apr 6, 2010
yes it is i live there and it is very safe. if you have a kid k-5 next year if you move your child can go to belmont E.S. my little brother goes to there his name is everett
0 votes Thank Flag Link Mon Jan 5, 2009
Housing prices were expected to drop another 14% over the next year and that was before the market crash. If you buy a house now, expect the value to drop that much (or likely more) over the next year or two.

Many are suggesting to just rent right now because the amount you would lose on a house would be more than you would spend on rent. Something to consider.
0 votes Thank Flag Link Sun Oct 19, 2008
Hi Gary,

I moved to Olney in 2002 and that was a great choice for my family. The public and private schools are great. The new Our Lady of Good Counsel and Washington Christian Academy have brought additional business to the merchants in our community and new families to our area. Everything you need, except a huge mall, is right in town. All medical care including a hospital, personal grooming, gyms, grocery shopping, car maintenance, great restaurants, movie theaters, music, dance, karate etc. are right in town. It doesn't take more than ten minutes to drop kids anywhere they need to go. The Olney Theatre has great dramatic art productions. The town center is slated for some exciting new development as are neighboring Sandy Spring and Ashton which are just east of Olney on 108. We also have some of the best sports programs in the county. The Olney Boys and Girls Club has first class fields for most outdoor sports. We also have a big public indoor swim and exercise center and a new skateboard park. Best of all, Olney really has a small town feel in the midst of sprawling suburbia. For example, the community raised a huge amount of money to rehab a home for our neighbor who was paralyzed in a bodysurfing accident. Our annual Relay for Life raises huge amounts of money for breast cancer research and is just a fun day and overnight camping event for the community. Olney was rated the 17th best place to live by Forbes magazine a last year or the year before. I was surprised to learn that the average per capita income in Olney is higher than Bethesda. We have a really nice mix of housing prices from condos to multi million dollar homes and people tend to move up rather than move away from Olney. I've been selling real estate for twenty years and I chose to invest in Olney. It's a great place to live. Call me if you need help evaluating your options. I can show you a square footage evaluation of how prices in Olney have held up compared to other areas. If I didn't have to pay for 24 semesters of college in the next few years I would be snapping up some of the bargains on the market right now. Brenda Peters 301-452-3227(c) 240-497-1700.
0 votes Thank Flag Link Fri Oct 17, 2008
Hi Gary,

I am not sure what you mean by "safe bet." Are you speaking literally? If you are concerned about crime stats, you need to contact the Montgomery County police in the Olney area for specific statistics. It is a violation for a Realtor to comment on crime stats at all. I can tell you that Olney remains a top choice for buyers desiring to be in Mont. County because, some of the more affordable homes are in Olney. Montgomery County is one of the most desirable counties in Maryland. If I can assist you in searching for a specific type of home, please don't hesitate to contact me. LDevnew@cbmove.com
Good luck to you!
0 votes Thank Flag Link Fri Oct 17, 2008
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