Real Estate Live

Welcome to Real Estate Live, an online discussion of the Washington area housing market featuring Post Real Estate editor Maryann Haggerty .

Maryann has been with The Post for 18 years and has served as real estate editor for the last five years. She's been a business and real estate editor and reporter for about 25 years. In all that time, she still hasn't figured out where you can find a lovely but inexpensive house in a charming neighborhood.

Today, she'll be taking your questions and comments about the local housing market -- from condos and investment properties to contracts and mortgages. For more on local real estate, visit washingtonpost.com's Real Estate section .

The transcript follows.

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Maryann Haggerty: Hi, glad you can join me today!

I hope you had the opportunity to see our two big Real Estate sections this weekend, on Saturday and Sunday. On Saturday, we looked at some emerging trends in the market now. On Sunday, we looked at the market from the point of view of people who are out there now, buying and selling houses. In addition, we took a county-by-county, Zip code-by-Zip code look at price trends in 2005.

In addition, the real estate staff wrote a market overview story that was the lead piece in Sunday's Metro section, pointing out how inventory of for-sale homes around the region has jumped and how time on the market has also lengthened.

If you haven't had a chance to look them over, you will likely find the paper versions of the sections (which I think are quite pretty, thank you!) in your recycling bin. In addition, the folks on our Web site have done a super job on packaging all that material.

Bottom line on the price trends: The median price around the region (the point at which half of the sales were more expensive and half less expensive) last year was $419,000.

Personally, I find this an astounding number. Is it good news or bad news? That, as the main headline on yesterday's section said, depends on your point of view. It was great news if you are a senior citizen planning to cash in and move to the Carolinas. It was great news if you wanted to tap your home equity for a cheap source of cash to pay for home improvements, medical bills or other large expenses. It is discouraging news if you're a cash-strapped young person in the market for your first home.

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Washington, D.C.: In Kirstin Downey's article yesterday, she writes about a 34-year-old man who worries about ever being able to afford to buy a condo -- and yet in the first paragraph it mentions his brand new SUV.

I see the same thing from many of my friends. They complain that they will never have enough money for a down payment, but then they go out to restaurants every night, or go shopping for new clothes every weekend. It adds up.

I bought my first home last year at age 29. I don't have a high salary, but was able to save money for a down payment because I am careful with money. I even am able to pay extra towards the principal every month.

No, I don't have a fancy car. If I was making huge monthly car payments I certainly couldn't afford a mortgage too. But I would choose a house over a car any day. People need to realize that being a homeowner means making choices about what is important to them.

washingtonpost.com: Kirstin's article: He's Obsessed With Condo Prices -- But Can He Ever Buy One? , (Post, 3/26)

Maryann Haggerty: The guy in this story has also been saving assiduously over the last eight years. I think he is facing more of a psychological barrier about total cost, rather than a shortage of cash for a down payment -- he has enough squirreled away for a 20 percent down payment on a $400,000-plus place. He just can't bring himself to buy what he sees in the market now.

That said, yes, for many younger people, saving up for a reasonable down payment is the biggest hurdle, and often doing so means reordering your priorities.

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Washington, D.C.: I have finally given up on ever owning a condo or house here without a husband and his income. However, I'm about to give up on renting here too and then just move to a less expensive city. I know experts say that you should only spend 30 percent of your income on rent, but I'm currently spending 50 percent and looking at moving into a safer neighborhood, spending almost 65 percent of my take-home pay. Aside from getting a roommate and commuting two hours to work, what's a way to find an apartment that's somewhat affordable? Frustrated with the housing market in D.C.

Maryann Haggerty: It's very very frustrating, isn't it? Check older buildings in cheaper neighborhoods. Check units being rented by individual landlords, such as English basements. And consider the classic routes: Roommate and even group house. But then also consider your life and your lifestyle. What do you really want from life? Is this the best place to get it?

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St. Louis, Mo.: We're thinking about buying another home, but I'd like to keep our current home and rent it out. I don't think I want to actively landlord, though. Is there any way to get an idea of whether this would work financially, before I start contacting potential property managers? Can one cost-effectively hire a manager for a single house?

Maryann Haggerty: It all depends on rents in your area, etc. I know people who have been able to do this with one house and a manager. (For instance, if you are overseas, it can be the only way.) But I think one of the very first steps in making this decision is to speak with a property manager in your area and see what the costs are. Also head to a book store or library to check out the many excellent books aimed at first-time landlords.

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Washington, D.C.: Can you share what you know about living in Cheverly, Md.? It still seems to have reasonably priced single-family homes, close to the city. Thanks!

Maryann Haggerty: Cheverly has been a magnet for people who have noticed just what you have noticed. Drive on out, drive around, talk to people out in their yards, see what they have to say.

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Falls Church, Va.: Maryann, here's a story idea -- I'm in my late twenties, and I'm originally from India. I have several friends from India, China, Malaysia and other suchlike developing nations, and one thing we have in common is that we all stand to make several hundred thousand dollars on our home investments. Many of us are also seriously considering moving back to our home countries with our bounty, and despite the fact that the economies are booming back home, we stand to have made such a large amount, that our lives and those of our children are virtually taken care of.

It's an intriguing thought, and one that no other generation of immigrants could entertain, either because going back was not palatable, or because they hadn't made enough yet. For us, it's enticing to think that both criteria are now in our favor, and that the American Dream may indeed be ours for the taking, albeit with a twist.

Maryann Haggerty: That is indeed an interesting story idea. Do you mind dropping me a private e-mail (haggertym@washpost.com) with your contact info?

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washingtonpost.com: Here's a link to the complete feature: Housing Outlook 2006.

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Vienna, Va.: The real estate boom in the past five years or so seems to be historical, according to what I've read. So far, the only comparison I've read about is the boom in Florida many years ago, which went bust eventually. What is the closest in magnitude of a real estate boom in the U.S. or abroad? Can we learn from that past boom and predict what might become of the experience we are having now?

On another related topic, a recent Post article claim that sellers are being greedy and, hence, properties are not selling. Amen to that!

washingtonpost.com: From Sandra Fleishman's article: "The key to selling a house today is -- drumroll, please -- don't be a greedy pig." Link: As the Market Cools, Setting A Fair Price Helps Seal a Sale , (Post, 3/25)

Maryann Haggerty: I haven't closely looked over all those numbers, all around the world, but some of the most dire sky-is-falling types will cite the Japanese boom. Other, less dire types, will cite the boom we had here and elsewhere in the late '80s. But there are a zillion of 'em -- real estate is historically a boom-and-bust industry.

That said: My grandfather bought some Florida-swampland-type-land in the 1920s. I truly wish he had hung on to it over the years -- highly unlikely if you know my family's investment history! -- because by now it would be in downtown Coral Gables.

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Laurel, Md.: This is a heads-up to anyone who might have been in the shoes I occupied until recently...

I just got a rebate for the Maryland Recordation tax I paid in April 2004. In Maryland, you pay recordation tax on the new money going into a re-fi, so if you're just refinancing the existing mortgage that's zero (or any costs that are being rolled in).

Well, at the time, my previous re-fi was only 1.5 years old and hadn't been recorded on the P.G. County property records yet (I didn't have a liber/folio number.) So, without a record of the previous mortgage, I paid the tax.

Well, my 2002 re-fi was finally recorded near the end of 2005; and when I got a statement of non-indebtedness from the holder of THAT mortgage (with its liber/folio number), I contacted my new mortgager, who initiated the process of refunding my fees.

I suppose with higher rates and hence fewer re-fis the county records offices might not be as far behind now as they were then. But it took three years to record a 2002 mortgage!

Maryann Haggerty: Wow!

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Gaithersburg, Md.: Maryann, my wife and I acquired a piece of property (a townhome) as an investment some six or seven years ago, rented it for most of that time and are now in the process of selling it. We've agreed to reinvest some of the proceeds from the sales to start purchasing foreclosures, fix them up and re-sell them as a business.

This seems especially attractive to me since I've been working in the construction business managing construction for over 27 years. However, I can't help but to keep thinking about how that part of the real estate market has taken on a negative connotation. Or how house flipping has been turned into a business tantamount to ambulance chasing.

Should I be concerned? Your thoughts and suggestions would be very much appreciated. Sincerely, New2REI

washingtonpost.com: Here's Tomoeh Murakami Tse's story on this topic: Investors Finding Fewer Opportunities , (Post, 3/25)

Maryann Haggerty: You just have to look very carefully at what you're buying and how the numbers work. Obviously, you have the skills for this. But can you find a property that works? That is the key. For someone who plans to live in a house for some time, buying at or near the top of the market is a lot less perilous than it is for someone who is counting on a quick profit.

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Sterling, Va: There's a very nice over-55 neighborhood just down the street from where I live. The prices for condos range from $420,000 to $479,000 for a 1,400 to 2,000 sq. ft. home. They have one-car garages and their own clubhouse and pool. I know people living there and they love it. I want my mother to purchase one now and rent it for a year until she's ready to move up here. I think they will only increase in value and renting to people over 55 is not as risky as renting to younger people with kids.

Do you think it's a good idea? She isn't convinced because she's afraid it would be a drain on her income and it seems really expensive to her living in N.C., where housing prices are very low. Plus the condo fees are hefty ($400).

Maryann Haggerty: Are there restrictions on rentals in that community? Conversely, is there a demand for rentals? And will it be a drain on her income? How much of a drain? Would she be better off waiting one year -- not really all that long a time! -- and buying when she's ready to move?

Or, if it's such a great deal and she is just too conservative to be comfortable, maybe you want to help her out buy buying it and acting as landlord for a year or two, then eventually selling it to her. That could be a win-win.

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Penn Quarter, D.C.: I enjoyed the expanded real estate coverage this weekend. Can we please get more real coverage/locally-written articles in the Real Estate section on a regular basis? I don't want to hurt your feelings, but to be honest, too often the section is embarrassingly thin. I definitely enjoy the syndicated columns, but frequently the section is just syndicated columns, maybe one Post article, maybe one wire story, and 10,000 ads. The articles almost seem like an afterthought in many issues.

Many of us would love to see more trend stories, more in-depth investigative-type stories (e.g. on how various parts of the real estate world work -- the Realtors' hold on the listing process; private mortgage insurance; referral arrangements; etc.), some lively first-person accounts...

Maryann Haggerty: Well, we try to get in as much local copy as we can. Most weeks it is a mix of Post writers and local freelancers (the "special to" bylines.) I can count on one hand the times in the last 6 years when there has been a wire story on the section front. All the Where We Live and Apartment living stories are also local. And many of the columnists are local, not syndicated.

That said, I would love more local copy, too. But my staff is very small and we just do the best we can. I long ago made the decision to try for quality, not quantity.

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Hyattsville, Md.: Maryann,

This weekend's huge real estate section was phenomenal! I wish we could have something like that every month.

I also wanted to comment on the young guy searching for a condo. My husband and I were in a similar situation three years ago. My advice to him is relatively simple -- broaden your search. We looked for houses/condos in D.C., Maryland and Virginia. We quickly found that we couldn't afford a house in Montgomery County, Northern Virginia, or Metro-accessible parts of D.C.

Since we both hoped to go to graduate school, we didn't want a monthly mortgage and condo fee that was over $1,500 a month. Since being near D.C. and being near transit was a priority for us, only one county was left -- we researched neighborhoods in Prince George's County until we found one that was safe, affordable and seemed to be up-and-coming.

I'm happy to report that our neighborhood has a lot of first-time buyers like ourselves and, as your article reported, we've seen the big appreciation. Again, I think this is because of our proximity to D.C. and the relative affordability of homes in our area.

Maryann Haggerty: When you look at the county-by-county median prices, Prince George's jumps out at you. Prices are lower for a long list of reasons, historical and contemporary, but there's no denying: They are lower.

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Cheverly, Md.: For the poster who asked about Cheverly -- I'm a bit biased, but I LOVE it. I bought a big brick colonial on a hilly tree-lined street for a fraction of what I'd pay to live farther out and live in a cookie-cutter subdivision. There is such a strong sense of community spirit! Check out the area west of the B/W Parkway and south of Route 202. We also have our own police department, so it's very safe.

Maryann Haggerty: A thought on Cheverly/Prince George's.

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Silver Spring, Md.: How come Sunday's article omitted Carroll County and included Frederick County?

Maryann Haggerty: We had to draw the line somewhere, & Frederick has long drawn Washington-centered folks because it is just over the Montco line (and straight out I-70). Carroll has been more of a draw for Baltimore-area folks.

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Silver Spring, Md.: In this weekend's real estate section, I came across a listing for a home that was for sale or for trade. How would one go about trading homes and why would one want to go that route?

Maryann Haggerty: I just heard about someone doing that. I'm not sure I've thought through the tax implications, etc. But perhaps it has something to do with tax-deferred exchanges? Or can someone out there help me with an intelligent answer?

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Springfield, Va.: Hello Maryann. A comment/observation: We are having bidding wars out here again out in the Charlestown Community of West Springfield, Va. In the past couple weeks, two of the popular Hermitage style townhomes, 2,700 sq. feet, have sold for over the asking price of $479,000. There are several of the smaller models available for about $450,000, more or less, 2,100+ square feet. I'm the owner of a Hermitage, but not going on the market until next spring, 2007. Needless to say, I am happy! Thank you. Carole

Maryann Haggerty: And you should be happy!

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Dupont Circle: It seems like prices are all over the place -- some homes are way overpriced and others are relative bargains. Is there a lot of confusion about the market right now?

Maryann Haggerty: In a word: Yes

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Reston, Va.: It seems like the market has cooled dramatically in our area, yet 2006 assessments still jumped a tremendous amount. Should we expect that enormous growth to slow next year, too, given that houses are actually sitting on the market for weeks or even months?

Maryann Haggerty: Your assessments reflect 2005 price increases -- and those were whopping.

That said, if prices do indeed moderate, then assessments should, too, in an ideal world.

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Washington, D.C.: Maryann -- I think you were way too easy on the person who can't plan for their future until a husband shows up. This is one of the biggest mistakes that a young woman can make in planning for her financial future!!

Maryann Haggerty: One thing I hope women have learned over the decades is that we can't count on a man to support us. Marriages can and do end, in divorce or death.(And I hope young men know that they can't count on a woman to support them!)

That said, this market almost requires two incomes to buy a home. That second income need not be a husband's, though. It can be a friend. It can be your mother.

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Laurel (same): "Maryann Haggerty: When you look at the county-by-county median prices, Prince George's jumps out at you. Prices are lower for a long list of reasons, historical and contemporary, but there's no denying: They are lower."

No, they're lower for one reason: schools.

The appraisal for my 2004 re-fi was about 40 percent lower than another couple friend of mine got for a nearly identical (maybe 15 percent is justified) townhouse 1.5 miles away -- on the other side of the Montgomery/Prince George's County line.

Maryann Haggerty: And the schools consistently are rated behind those in neighboring counties for many reasons, many of them historical--having to do with income, race, property tax caps and more.

Of course, price in much of DC are higher than in PG, and it's not because the city's schools are good.

For people who don't have school-age children, that factor can be irrelevant. For people who plan to take a really, really, really active role in improving their local school, that can also be irrelevant.

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Annapolis, Md.: I track a few markets -- my boyhood small town and several other nearby towns. I've noticed that, rather suddenly, many properties are being placed up for sale -- in one case the town only has about 200 homes and about 50 of them went up for sale at the same time. It seems rather odd to me. Would this be indicative of something going on in the real estate industry?

Maryann Haggerty: Something THAT dramatic is usually indicative of something going on in the underlying economy -- for instance, a factory closing.

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Arlington, Va.: When considering a neighborhood it is wise to check with your insurance agent for home and car insurance. Car insurance is 100 percent more expensive in P.G. and Montgomery counties than in Fairfax County on the same vehicle. Charles and Calvert Counties are almost as bad. You can be talking an additional $100 to $200 a month in insurance costs or more.

Maryann Haggerty: A point. (But how does Virginia car tax affect that same thing?)

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Baltimore, Md.: I just want to say how much I appreciate the editorial content in The Post's real estate section. I don't know if you are aware of this, but the Baltimore Sun recently turned over the Sunday real estate section to its advertising department. Consequently, there are no features that offer genuine unbiased guidance or insight. Is this a trend at all among newspapers? Please keep The Post's real estate section within editorial!

Maryann Haggerty: I consider what happened to The Sun's Real Estate section very sad. I also consider it very short-sighted.

The newspaper industry is under tremendous financial pressure these day. Yes, some newspapers are going to cut back on editorial to save a little money. But I think what you give up is even more critical. I hope that readers come to our sections because they like and trust the articles. If they were nothing but unending puffery about groundbreakings, why would people even look at them? And if people don't look at the sections, they sure aren't going to look at the ads.

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Bowie, Md.: Two questions here:

1. Why are all the reports just rehashing year-over-year prices/etc.? It seems fairly obvious that the market "peaked" during July/October of last year, but because the gains were so huge up 'til then, year over year still deceptively shows major increases. Why not show what's happened over the last six months? Is the media afraid of starting a panic by pointing out the obvious?

2. How concerned are people about the brain-drain that's beginning to occur? That is, people who weren't in at the ground-floor of this market-insanity just up and leaving for greener and obscenely cheaper pastures? My fiancee and I are contemplating leaving shortly after she graduates next year, as even on the $150,000-$175,000 combined income we'll have, that will fix us to P.G. County or somewhere else less than desirable for a SFH, or force us into a condo with three large dogs.

Thanks!

Maryann Haggerty: 1): I like to take a longer view every now and then. (Real estate is not a short-term investment play). It's good to get the year-over-year numbers on the record. We do plenty of other stuff that looks, for instance, at monthly numbers.

2): Good question.

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20850: Maryann, you see these infomercials about building wealth through real estate, how easy and or hard is it to do. What are the pitfalls that they don't identify when they pitch this stuff? I watched PBS this weekend, the guy and his wife were talking about how they live off of their real estate earnings.

Maryann Haggerty: I'm not saying that all real estate infomercial dudes are snake oil salesmen. I'm sure someone has actually gotten rich quick in real estate by following their methods.

But guess what? That's the exception, not the rule. Real estate investing takes work, and knowledge.

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Washington, D.C.: I really was interested in the zip code level data, but I have to note that the map that accompanied the story about high-priced retail on the front page was just terrible. It did not show income by area, as it described. Instead, it showed income by population density by neighborhood (e.g. how many high earners not only live in the same area, but live close together) which was not what the article was about.

It was humorous to see that the highest-priced Zip code in the area from Sunday's paper (Great Falls) was low on your population density map for this very reason. I'm sure the average salary out there is pretty high, which is why Tyson's II is right there.

washingtonpost.com: The story about upscale retail: The Luxe Starts Here , (Post, 3/27)

After this chat, Post reporter Ylan Q. Mui will be online to discuss that story. You can access that chat here: Live Online: Luxury Retail in Washington.

Maryann Haggerty: Yeah, that story in the Monday paper wasn't mine! (But I thought it was interesting, anyway.)

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Rockville, Md.: I just wanted to say "Amen!" to the "Don't be greedy pigs" advice in the selling your house story. I had decided to list at $399,000 instead of the $415,000 my realtor suggested and had been second-guessing that decision.

After reading your article I was reminded of my original thinking. I'm already making a killing on my house, so why try for those extra $10,000 to $15,000? It ends up being less than that anyway, with fees and taxes and do I really need to make that much more?

Maryann Haggerty: And don't forget the time value of money. A quick sale for a bit less money will often cost less -- in dollars and psychic anxiety -- than turning the whole thing into a long long process.

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Gaithersburg, Md.: Maryann:

Two weeks after my husband and I moved into our townhouse, we found that the master bath had been causing water damage for quite some time and was in serious need of renovation. The seller didn't disclose the water damage to us before we bought the townhouse, but our neighbors tell us they walked through the house a few months earlier and saw the damage, but the seller later covered it up with some patches and fresh paint. Do we have any recourse here? Can we recover any of our losses on the costs to renovate the bathroom since he didn't disclose it?

Thanks!

Maryann Haggerty: You can try. It sounds like you have cause -- but it may involve a lawyer.

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Navy Yard, D.C.: Hi Maryann,

Can you tell me what "market-price home" and "workforce home" mean? I saw them in a ad for a new development in Navy Yard, and the prices are attractive. Do they imply income-cap?

Thanks!

Maryann Haggerty: "Market-price home" means they can charge whatever the market will bear.

"Workforce home" indeed implies income caps -- an income somewhere above public housing, but lower than a family that could afford market price.

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Washington, D.C.: My fiance and I are planning to buy a house in D.C. before we get married next year. We have a combined income of about $95,000, a decent amount saved up for a down payment, and absolutely no debt. We aren't concerned about "dangerous neighborhoods" as long as we are relatively near a Metro or several good bus lines. My concern is that in a few years I intend to get a masters degree (taking classes at night, while working full time in my current field). While my income will certainly defray the costs of tuition, I will likely have to take out some loans to cover the rest. Will lenders be unwilling to lend to me if I already have a 30-year mortgage? Would we be better of continuing to rent until I've stopped actively accruing other debt?

Maryann Haggerty: Get the house. Worry about the student debt when you go back to school. Among other things, you may find that your employer will help with tuition costs, that you can win a fellowship, or that you can find a loan program with laxer rules.

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Prince George's schools: Yes, there are some troubled schools in Prince George's. But there are some very good neighborhood schools too. I wouldn't dismiss the place because of schools. My kids had their pick of colleges when they graduated.

Shop around, ask about your elementary school, magnet options, etc.

Maryann Haggerty: A point.

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Silver Spring, Md.: Dear Maryann,

I always read the entire real estate section every weekend. Great articles and columns. This may be a stupid question, but why do real estate sections always use "median" home prices and/or sales or income? Wouldn't an "average" paint a clearer picture of what is reflected in a neighborhood or area?

Maryann Haggerty: An average price, in this circumstance, tends to be pulled up unduly by one or two sales at the high end. The median is more reflective of what's going on overall.

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Oakton, Va.: Regarding the Virginia car tax and insurance. For what it is worth, the property tax for our two cars is 1/4 of our annual car insurance ($400 versus $1,600), and we have good driver discounts.

Maryann Haggerty: Thanks

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Falls Church, Va.: So, I just bought a newly constructed condo in a high-rise in Fairfax County. Well, low and behold what looked like a retail/wholesale operation bordering the back line of my building turned out to be a full fledged industrial operation... with backhoes' backup beeps and 18-wheelers unloading between 6 a.m. and 9 p.m.

Obviously, the developer had to know this when building the building, but they didn't disclose it when we completed pre-sales contracts or on the final closing. Is this something that he was obligated to disclose to potential buyers? Do you know of any recourse to get the developer to correct this situation or to shut down an industrial operations next to a residential building?

Maryann Haggerty: Actually, it's kinda your responsibility to know what's going on around the place you're buying. Web guru, can you find Sandy Fleishman's stories form Dec. 17, 2005 on this topic?

And I can guarantee you -- if that industrial operation was approved by the county, it's not going to shut down...

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Washington, D.C.: We are first-time buyers in the District and I have to say, the search has been discouraging. We're either going to end up with a place smaller than our goal of 1,100 square feet or keeping our fingers crossed that some of these inflated prices cool. I'm seeing houses in a neighborhood I'm interested in buying into -- a neighborhood that is on the verge of gentrification but isn't as far along as, say, eastern Shaw -- listed at $465,000 "as is" with no renovations or efforts to make it look nice.

Maryann Haggerty: Keep looking. Be patient. Continually reassess your goals and requirements. Maybe 1,100 square feet really is unrealistic, or maybe you'll find something that meets those requirements in an older building or a neighborhood you haven't thought of. (Have you looked in Southwest, for instance?)

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Washington, D.C.: A contractor told me he's remodeled seven kitchens in the past 1.5 months. all are being put on the market this month or next.

So, I've got a feeling that it'll be a buyer's market in the next few months at least.

And unfortunately my condo will be his eighth project to be put on the market soon.

Maryann Haggerty: Well, if you're remodeling to sell, keep it modest and plain vanilla, with clean lines and decently designed appliance layout. I must say, I've seen some bad slapdash kitchen remodels, and they just make me want to rip them out.

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Washington, D.C.: Regarding Gaithersburg, Md., with the leaking bathroom... Montgomery County (and I think the rest of Maryland), through the Board of Realtors, has a mediation program. Its a step before going to the lawyers. A trained mediator will hear both sides of the case and make a ruling that both parties agree to accept. My grandmother is actually a mediator and it seems like a great program for everyone involved.

Maryann Haggerty: Good idea.

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Shirlington, Va.: What is the deal with the one-bedroom condos on the market in the Shirlington area? Nothing has gone under contract in the past four weeks. Is this a stare-down between buyers and sellers or are other areas getting all the attention from buyers? Will someone (buyer or seller) have to bite the bullet for one of these units to move?

Maryann Haggerty: Sounds like it is indeed a stare-down, doesn't it?

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Washington, D.C.: There are some cheap-er rentals -- the "natives" from this area know about them. They are NOT advertised in the glossy pubs. Talk to folks who have lived here for years, check out Craigslist, etc.

Maryann Haggerty: Suggestions for those looking for less-expensive rentals.

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Arlington, Va. (Clarendon): I purchased a condo in '01 and it was completed in '03. I moved in at that time so I've passed the 2.5-year mark (for tax purposes). I purchased another place in '03, which is just now completed -- they are both in Clarendon, by the way. While I can afford to hold onto my current place and rent out should I do that or take my gains now?

Clarendon is rock solid but there are tons of condos there. What's unique about my building is its size, which is small and stylish, unlike the other huge buildings in the neighborhood. I'm expecting we'll see single digit gains, maybe 6-8 percent in the coming years, but who knows? The key to real estate is to buy and hold so I'm torn. I'm also not a "flipper," so that was not my intent.

Maryann Haggerty: Hmmm, I think you need to look at your own finances very carefully -- including your age, your risk tolerance, etc. But this is a very good question, and one that I think we should write about soon: Keep the place or sell it when you move on?

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washingtonpost.com: The "web guru" is on the job: Keeping a Close Eye On the Master Plan , (Post, Dec. 17)

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Washington, D.C.: A couple of my co-workers are looking at places in Delaware and beyond to retire -- the cost of living here is out of sight and nobody but the actively working top 15 percent can afford to live here. The young and the old will be pushed out.

Maryann Haggerty: I think this is a legitimate fear. Also, losing families with children. You can see that is has happened in other, too-expensive areas, such as the San Francisco Bay area. (There was a story in the A section a week or two ago about that.)

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McLean, Va.: I almost choked on my Cheerios this morning when I read about the people finding their dream homes in the way-outer suburbs. Then the women mentioned her two-hour commute!

washingtonpost.com: In today's paper: On Edge of Va. Sprawl, Labels Crumble, New Lives Thrive , (Post, March 27)

Maryann Haggerty: And she said she LIKED her commute.

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Hillsboro, Va.: Loudoun County's new zoning has opened the floodgates on new subdivisions and new development. As a current resident, I am concerned that prices will drop when these new three-acre lots hit the market and start being developed. Thoughts?

Maryann Haggerty: It certainly could happen, if demand doesn't keep up with supply. Loudoun houses are already staying on the market quite a while, on average (78 days in Feb., up six weeks from a year ago, according to our story in yesterday's Metro section.)

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I'm the girl who said she needed a husband to buy a house: And to clairify, what I really meant was that I need two incomes, not just one of a husband. It just came out that way because it made sense when I wrote it. Thanks for the advice by the way. I think I do need to figure out what I really want... if DC is it for me. It might not be.

Maryann Haggerty: A reaction...

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Columbia, Md., for the renter: The commute from Columbia is not bad if you like trains. I'm 10 minutes away from Savage, about 25 from Odenton and I take the MARC to Union Station and walk to my Capitol Hill job -- snow, rain, or shine. It's not bad.

My rent is under $1000, I have a washer and dryer in my apartment, fire sprinklers, a spot in the parking garage, and a swimming pool.

Maryann Haggerty: Another rental idea...

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Front Royal, Va.: Maryann, have you given any thought to once and a while expanding the real estate horizon on reporting and venturing either further west or south as these areas are increasing rapidly in population? When I bought my home in 2003 I paid only $165,000 for several acres and a nice house but now you can't find a home for under 300,000. It's not just bad in closer to D.C. -- we are already priced out of our current house if we were looking to buy right now.

Maryann Haggerty: West, south -- and north and east. Last year we did a piece on a subdivision in Pennsylvania catering to Washington-area-types, and also one on the booming development in Delaware that caters to the same market.

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Maryann Haggerty: I'm afraid I have to go, folks. There are dozens of questions here I wasn't able to touch -- but I read and save them all. We're always in search of ideas, input, stories...

The cherry blossoms are out this week, and temperatures are lovely. I think I'll go out and take a walk around the block and try not to think of house prices for at least a little while. Maybe you want to do the same....

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