Welcome to Real Estate Live, an online discussion of the Washington area housing market with 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.

Haggerty is joined by Washington Post columnist Elizabeth Razzi. Razzi is the Local Address columnist for The Post's Sunday Real Estate section in Business. She's written about real estate and other personal finance topics for magazines and newspapers since the days of double-digit interest rates. She is also the author of two consumer-advice books, The Fearless Home Buyer (2006) and The Fearless Home Seller (2007).

Today, they'll discuss 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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washingtonpost.com: Rated PU, Unfit for Any Audience

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Maryann Haggerty: Hi; thanks for joining us today. Just a bit of advance warning... we understand that the site is having technical problems, likely because of the high volume of readers for the election coverage. But we'll answer as much as we can.

Also: I have a mountain of real estate books building up in my office, some of which might actually be quite helpful. So, I'll give away a few at the end of the chat to people who jump in with the most interesting comments....

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Elizabeth Razzi: Hello, everyone! Glad to have you back. I hear the Post's website is pretty burdened today...something or other about a presidential election getting under way...

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Arlington, Va.: Do most mortgage brokers require life insurance for the value of a mortgage? I'm asking because as a new government employee, I can participate in the federal program, and need to figure out whether I should increase my coverage to roughly the amount of the mortgage I plan to take out in the next 6-12 months.

Thanks!

Elizabeth Razzi: Actually, there's no life insurance requirement for a mortgage. And you should think twice before buying what they call "mortgage life insurance." Your life insurance needs should be determined by the amount of money your dependents would need if you were no longer able to provide for them. If you're single, for example, you may need zero insurance, as long as you have a couple of thousand dollars saved to cover your funeral costs. If you have a couple of young children, on the other hand, you could need quite a lot of life insurance to provide for them and their educations. But even if you have a family, and would like to make sure they can afford to continue living in that home, you're better off buying term life insurance than to buy a policy linked to your mortgage. With a regular term policy, your dependents could spend the money on whatever they need, including the monthly mortgage payment, if they choose to remain in that home. By contrast, if the insurance proceeds were sent directly to pay off the mortgage, they could find themselves needing to sell the home so they had enough cash for living expenses.

Maryann Haggerty: I have never heard a good argument for mortgage life insurance. Ever.

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Washington, D.C.: Three questions relating to condo purchases:

1. All else being equal, is there any difference in re-sale value between a condo price and a co-op price? Put another way, will co-ops re-sell for less because buyers don't want to deal with any additional hassles that a co-op entails?

2. Can a 1BR with den be advertised for re-sale as a 2BR condo, even if it only has one (or 1 1/2) bath? I don't think I can afford a full 2BR/2BA, but am I incorrect in thinking that a 1BR with den is worth a bit of a stretch financially, for both the added space and re-sale potential?

3. On the issue of condo reversions, is this something that can happen AFTER folks have started buying and moving into a project? One of the complexes I'm interested in looked quite deserted one night last week (granted, it was over the holidays, but it was really dead). Can the project manager throw out the existing condo owners and switch to apartments if the remaining units don't sell? Are there any other pitfalls to buying into a half-filled building, or is it worth getting a bargain now in exchange for some upside potential down the line?

Maryann Haggerty:1): As a rule, condos do resell more stronly than co-ops in this market, BUT there are some notable exceptions, ie, the fact that it is a co-op does not drag down prices at the Watergate. Many residents there would argue that it props them up, because buyers don't want to live with riff-raff.

2): In most areas, a bedroom must have two means of exit to meet safety codes. A den need not.

3) I can think of a couple buildinsg that landed up mixed condo/rentals. Not sure how that works legally, but there you are. As far as other pitfalls, we'll look for a link to a story a few weeks back in the Real Estate section on just that topic....

Elizabeth Razzi: The Watergate is kind of a special case, though. Not only does it still have the thumbprint of history, but it has rare, knockout views of the Potomac river. There is always a hassle factor associated with a co-op. After all, you may need to sell to the riff-raff someday.

Also, re the bedroom/den question. In addition to fire egress, a "bedroom" needs to have a closet. A "den" doesn't. The number of bathrooms doesn't enter the equation.

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First time homebuyer: Maryann & Elizabeth,

First, I love the chats. Thanks for doing them. Here's my question -- is there any way to search for certain types of homes in a neighborhood? Specifically, we're interested in a bungalow. Is there any way to find out which neighborhoods in the area have a lot of bungalows, so we can concentrate our search on those areas? Since we are first time buyers, we will definitely be on the low end of DC real estate, but we're willing to spend a lot of time and research and investigate lots of different areas to find the home for us. I'm sure a realtor would be able to help with this, but we're not ready to go find one yet, since we won't be buying until spring/summer of 2009. Thanks!

Elizabeth Razzi: Thanks very much! Actually, a search engine like that would be really cool, especially if it truly searched across jurisdictions. You can narrow searches by looking for porches, two stories or other features, but that wouldn't yield the type of spider crawl you're thinking of. However, a little advice for a first-timer venturing into the expensive DC-area market: Don't limit yourself to bungalows. It's tough to find a home of any style that's affordable for a first-time buyer. Would you really want to pass up a great deal on a lovely little rambler that's just right in every other way?

Maryann Haggerty: Yeah, that would be fun to play with, but I've never seen such an engine. Instead, how about getting in your car/on Metrobus and touring around? Asking friends/co-workers? Talking with a real estate agent?

(And bungalows in this region tend to be found in the inside-the-beltway suburbs that were developed largely between the world wars. That's when that style was at its height. But in some of those areas--for instance, much of Arlington and Bethesda--those bunglaows have long ago been popped up and out.)

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Bowie, Md.: Can you tell me what kind of agent/representative, or anything else I need?

I'm single and in a home I bought a few years ago and have been toying with the idea of getting out. Last month, some co-workers visited and one couple asked if there were any houses in my development for sale because they thought it was perfect for the two of them.

So... are there such things as agents who just help a buyer and seller who've already found each other to get through the transaction process and settle on a fair price?

Maryann Haggerty: You can find plenty of a la carte or limited-service real estate agents who will do that work for a set fee. Or, you can hire a lawyer...

Elizabeth Razzi: Real estate settlement companies can put you in touch with a lawyer, too. But each of you should really have a lawyer who represents your own interests...especially since you have to work together long-term. I certainly would not pay full commission for a traditional real estate agent if you already have a buyer in-hand.

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McLean, Va.: Excluding the bubble years, what has been the historical rate of real estate appreciation for our area?

Maryann Haggerty: I don't have the numbers at my fingertips, but generally, U.S. real estate has appreciated at just about the rate of inflation, and it has been the same here.

Elizabeth Razzi: I believe it's been inflation plus a smidge, long-term.

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Arlington, Va.: We bought our house three years ago and intended to stay for many years. Now my husband's job may be transferred to the south. Based on our zip code stats and our neighborhood's sales, it looks like we could probably break even or make 2-5 percent on our home if we sell, but then there's the issue of the Realtor's commission. Are Realtors willing to cut their commission to take a listing in a desirable neighborhood? Have you found that commissions are negotiable?

I recognize the value of realtors, but I also have to say, the price is pretty steep. 6 percent on a 700K home is a lot, especially considering that the average listing in our area is under 3 weeks! Thoughts?

Maryann Haggerty: These days, agents have plenty of listings. It's buyers they don't have. Nonetheless, commissions are negotiable. You can see what an agent will do to work withyou. (Some are more flexible than others. Many don't feel they have to flex, because they have been successful without doing so.) Also, there are flocks of discount brokerages out there; you should contact them and see if you can get the services you want for the price you're willing to pay.

Elizabeth Razzi: Average listing is less than three weeks? You mean before it sells? Wow. What neighborhood is this? And, sure, you can find a number of brokerages that charge less than the old reliable 5 or 6 percent. Then again, if you need to move because of a job transfer, you might find it worth paying the money for the most agressive, seasoned agent who specializes in your neighborhood. I suggest you shop among different types of agents and see what clicks--and test your negotiation skills over the commission.

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Bethesda, Md.: Hi

I'm considering moving to a Baltimore neighborhood that's rumored to have outrageous property taxes (which will break the deal if true). But none of the home listings I've found there tell me anything about the property tax history of the homes. Is there a way to get that information?

Thanks.

Maryann Haggerty: Property taxes are public information and in Maryland especially they are very easy to research. The statewide Web site is http://www.dat.state.md.us/

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Waldorf, Md. : I live in a single family home that was just built in 2005. Charles County has sent me my new tax assessment and has decided that my home has increased in value by $40,000. This is insane to me considering the housing market. Assessments were already phased in in 2005, so I'm a little confused as to why I am being reassessed already. When we bought our home, the base price of the model we bought was $427,900. The builder has since lowered this price to $404,900. Additionally, other homes for sale in my neighborhood sit on the market for at least 6 months with multiple price drops. I plan to argue against the assessment. Is this the kind of information that I should include? Thank you for your help!

Maryann Haggerty: In Maryland, assessments are done every three years (ie, in your case I guess, 2005-2008.) That means values lagged going up and are likely to lag going down. To contest the assessment, you will need info such as what you are citing: Actual sales prices for comparable nearby homes.

Elizabeth Razzi: Asking prices for unsold properties probably won't sway the assessor. Look for actual, closed sales prices prior to Jan. 1, 2008.

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Alexandria, Va.: My husband and I are thinking about hiring a real estate agent to help us look for a home. Besides meeting the real estate agent and making sure our personalities match, what other qualifications should we be looking for? What questions should we ask as we speak with different real estate agents? Any pitfalls we should be looking out for? We have never worked with a real estate agent before so we are not sure how the process works. Thanks!

Maryann Haggerty: Ask the agents for references from recent customers, and follow up on those references. Ask people what they liked and didn't like about the agent, and whether they would work with her again.

In many cases, agents work in teams. Ascertain who exactly will be the agent working with you. You don't want to click with Mrs. Super-Successful, then spend all your time with her sullen nephew.

You will want to weight for yourself whetehr you will be better off with a very experienced agent who knows lots of ins and outs, or with a less experienced agent who may have many many hours to spend with you.

Elizabeth Razzi: Try to talk to references who are similar to your situation. In other words, first-time buyers who looked in your general price range. Some agents click better with sellers than with buyers; some specialize in expensive homes, others go the more-affordable route. But agents are hungry for buyers these days, and they're not likely to turn your business away even if you're not the type of buyer they're used to working with. Also, while I'm not terribly impressed by most of the alphabet soup professional designations following many Realtors' names (CRS, GRI, etc.) I have found that those with the GRI (Graduate, Realtor Institute) tend to be experienced and a bit more on the ball than the average bear.

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East Capitol Hill, DC: Good afternoon all, I just wanted to comment that with the slow down of the housing market, I thought that renovation firms would be very accomodating or at least willing to meet. I have contacted at least a dozen design/build firms or renovation specialists to discuss a first floor renovation of my East Capitol Hill rowhouse (my husband and I are willing to spend about 75k -- not a small job). One did venture out to see our property and mentioned that not very many other contractors would be willing to work in our area. In fact, he was right -- most of those I contacted have refused to work in my neighborhood and one even mentioned he was fortunate to only work in neighorhoods west of Rock Creek Park! Apparently, contractors in the DC area aren't as hard hit by the housing downturn.

Maryann Haggerty: Isn't that infuriating? But there ARE contractors who will not discriminate against you because your address ends in NE or SE. (And believe me, it is discrimination.) So patronize the folks who have proven that they want your business. You can find them by talking with your neighbors, asking questions on neighborhood listservs/blogs, looking at the signs that contractors put up on nearby houses and calling the folks who advertise in the back of the Hill Rag or Voice of the Hill. (In other neighborhoods where you run into these problems, check similar local weekly or monthly papers.)

If this is any comfort, folks who live in NW often complain that contractors routinely tack on an extra "ritzy neighborhood" charge to their estimates...

Elizabeth Razzi: Some contractors use lawyer, architect and PITA (think through the acronym) surcharges, too.

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Anonymous: Well, you could have mortgage life insurance (through your mortgage company) AND a term life insurance policy. That way, the mortgage gets paid and dependents have money for daily living.

Elizabeth Razzi: You could. But your money would stretch farther by just buying a bigger term policy. One more thing to consider: The payout on a mortgage-life policy declines over time, as your mortgage balance declines. It's a pretty competitive market now for term life insurance policies. Why not just lock in your coverage for the next 10 or 20 years?

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Arlington, Va.: There is speculation that the Feds will cut interest rates soon. Will that impact mortgage rates or do you think they will stay stable? How are the two rates connected?

Maryann Haggerty: The Fed rate changes have no direct effect on mortgage rates, which instead are tied much more closely to the market for 10-year Treasuries.

They don't seem to have much of an indirect effect, either. Despite four rate cuts in 2007, rates on 30-year mortgages are almost exactly where they were a year ago.

Elizabeth Razzi: Fed interest-rate cuts can even boost long-term interest rates a bit, at least if they get investors worried about inflation.

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Indian Head, Md.: My husband and I are toying with the idea to sell our home and upgrade to a larger home OR to just rebuild areas of our existing home with some additions. Our home we purchased 5 yrs ago in Charles County has increased in value with a half-acre lot. The problem is, its a 1920's home that had 2 additions put on that are not energy efficient in any way. Given the market, we just really are uncertain which way to go; work with what we have (rebuild 2 rooms and add) or make a few needed low cost improvements and sell. We dont know what resources are available in aiding us in determing which route is a viable route and a good cost comparison. We do like having the 1/2 acre lot which now days is a real hard thing to find in newer subdivisions.

Maryann Haggerty: One of these days, I think we need to write an article that goes over the plus-and-minus math of this decision in some detail. But I think that no matter what the numbers say, you also need to weigh the less tangible things--whether you like your neighborhood, the schools, and that lovely half-acre lot.

Elizabeth Razzi: Don't forget, old additions might be best handled with a wrecking ball, especially if they were poorly built to begin with. This question doesn't boil down to numbers, necessarily. Some things to consider:

--If you really like the neighborhood, build the addition.

--Don't forget to factor moving costs into your equation.

--Remodeling ALWAYS costs more than you think it will. Even when pros remodel their own homes, they end up spending more than they planned.

--Remodeling could tailor the home exactly to your liking.

--Living through a remodeling is one of life's greatest hassles.

Good luck!

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Co-ops: Just want to stick up for co-ops (which are not, in fact, for everyone). I have lived in the Greenbelt co-op for more than five years and absolutely love it. One the pluses is the stable, active membership (owner-occupied), so it's very well-run with a strong sense of community. However, if you don't want to get a note on your door that it's time to mow the grass, a co-op is not for you.

Maryann Haggerty: I have heard a lot of good things about the Greenbelt co-op. Over about six decades, it has managed to foster a sense of community, people say.

(Even if you live in a single-family house without any homeowners associaiton, you can still get those notes if your grass gets out of hand...)

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Baltimore, Md.: Re: Baltimore City property taxes for previous poster: They are MUCH higher in the city than in surrounding suburban jurisdictions. And you also have to beware of the fact that the tax could "reset" when you buy. For example, if the house is currently owned by an elderly person who gets a break on taxes due to age (as my mother did), you may find the taxes going way up when you are next assessed.

Maryann Haggerty: In much of Maryland as well as in the District, the taxes that a current resident pays don't have much bearing on what a new owner would pay. A lot of tax bill increases have been capped over the years and readjust when a new owner gets a new assessment. (This is why Montgomery County is going to begin to require a lot more info soon on projected tax bills after a sale.)

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Capitol Hill, D.C.: If you are in a condo building that is not sold out, and the developer is renting out the unsold units, you need to be absolutely sure that the developer is paying the appropriate condo fees for those units into the condo association for your building. This a common weasel area for unscrupulous builders. Have a look at the associations books, if they aren't paying the fees on those units, contact a real estate lawyer ASAP.

Maryann Haggerty: This is a very good point.

Elizabeth Razzi: It never hurts to try to strike up a friendly chat with the folks in the condo manager's office, just to see if there are any issues like that. Ask for copies of their newsletter, or for access to their community web page, too.

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Maryland: Your mortgage company would want you to have mortgage insurance because it benefits them, not because it benefits you.

As an aside, if you are not married but you co-own a house with a significant other, make sure your SO is the benficiary of that policy. Otherwise the gov't dictates who gets it (usually next of kin like a parent). That person has no obligation to the SO or to ensuring the house gets paid off.

Elizabeth Razzi:

They also may be looking at a nice commission for selling that insurance to you too. By the way, the same reasoning goes toward ALL forms of credit life-insurance. Skip it! And, good points on the SO...A lawyer, plus scrupulous attention to things like beneficiaries, can help you cobble together some of the protections that come automatically with a wedding license.

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Washington, D.C.: I may be moving out of the area for love, which leaves me with a 1-bedroom condo in D.C. I think given the rental market compared to the sales market I am better of renting for the condo. In my neighborhood, I think the rental market will support $2,200 monthly rent (including parking) and my costs are approximately $1,700 per month for mortgage, taxes, and condo fee. What other considerations do I need to be thinking about to make an informed decision for renting or selling the condo?

Maryann Haggerty: Do you need to hire a property manager or are you comfortable with being a hands-on landlord?

Can you afford to carry the costs of the condo for several months if it remains vacant between tenants?

Will your condo association allow you to rent?

Elizabeth Razzi: And...might love bring you back to DC, and that condo, some day?

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Washington, D.C.: I was looking over my adjustable-rate mortgage docs the other day. Why are so many U.S. mortgage rates tied to LIBOR, which is a London rate?

Maryann Haggerty: Because LIBOR is a WORLD rate, and the money markets are global.

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Friend who is an agent: My husband's good friend is an agent. A year or two ago I looked at some houses with her but we decided to hold off until the market came down a bit. Now we want to look again, but I'm not sure I want to use the friend. There are several reasons: the last time she didn't seem to understand the features of the houses that we felt were important and therefore kept suggesting things we weren't interested in; although she does work all over the Metro region, the main area/county she works in is not where we want to look (more of an issue because we also have a house to sell and want to use an agent that specializes in our area for that); and even though I know she thinks she is treating us as if we were just like her other clients, I sometimes got the impression that I ended up doing a lot more of the legwork since we were 'friends'. If we don't go with her I know she will be hurt and that could affect the friendship. In the past I always told friends that I don't mix money & friendships for this very reason, but my husband suggested we look with her a few years ago and now I feel stuck. Suggestions?

Elizabeth Razzi: Ah, you're bringing back the wise words of my own father: "Never do business with friends or relatives." You list some excellent reasons for not doing business with her, so your question becomes one more suited for Miss Manners or Carolyn Hax. Nevertheless, I'll take a stab at some excuses:

"We're going to be really difficult buyers, and we want to spare you that experience."

"We'd like to keep our finances a bit more private."

"We value the friendship too much to risk it over this deal."

By the way, if she doesn't value the friendship more than the deal, then you wouldn't be losing much of a friend, anyway.

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washingtonpost.com: Condo Crunch ( Post, Dec. 15)

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Alexandria, Va.: Re the question of insurance, that "Arlington" wrote about. Since that person was asking about increasing his federal gov't insurance to equal the amount of his/her potential mortgage, that's not the same thing as "mortgage insurance" itself. The family can still use the proceeds for whatever it seems best.

Speaking from personal experience, I would recommend that anyone contemplating a mortgage and a family get cheap term insurance for at least that much, even if they don't have a family yet. My dad didn't get life insurance when he and my mom were first married because they didn't have kids yet. By the time the four kids came along, he was uninsurable due to high blood pressure. He did in fact die at age 43, leaving my mom with 4 kids under age 10 and no insurance of any sort. We had many years of financial struggle because of it.

Term insurance for younger people is really cheap. For me, I found cheaper insurance outside of the federal program. If you end up not needing it and no kiddies come along, well, it's just another cost of living, no big deal, and you can always drop it. But if you eventually really need it and can't get it, that could be a very tragic situation for your loved ones. Might be wise to take future plans into consideration in making that decision.

Maryann Haggerty: Good points.

Elizabeth Razzi: Thanks for the real-life illustration.

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Hyperventilating in Maryland...: I need to relocate for a job in June and need to sell my house. I went online to see what some of the houses in my area were selling for. To my horror, there are 3 houses in my subdivision listed at below what I bought my house for 3.5 years ago! All three are "pre-foreclosure" or short sell listings. How will that affect the price at which I can sell my house? My house has also been completely renovated, including new siding and roof. Will I be able to make any of that investment back?

Elizabeth Razzi: Take a deep breath and start interviewing local real estate agents. Develop an action plan--and a plan B (such as renting out the home) if plan A doesn't work out. A good real estate agent can help you figure out how your home compares to those other three listings. If you can get a chance to peek inside them during an open house, by all means take it! In fact, spend a few weekends as if you were trying to buy a home in your neighborhood. That will help you get a good feel for today's prices.

Maryann Haggerty: Foreclosures can indeed affect your property values, altho condition matters, too. A lot depends on the overall demand in your neighborhood--are those three houses the only one on the market? Or are there a others in good condition also on the market or recently sold?

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Condo/Apartment Conversions: It is not a good situation to be in with half condo/half apartment. We bought at a place that was condo conversation almost a year ago. The developer ended up foreclosing on the place and there were about 40 of us stuck in an apartmental rental place. The new owner who came in decided to not move forward with the condo conversion and continue renting out apartments. Through this process, we learned that if a condo/apartment conversation place is under a certain percentage it is difficult for potential buyers to receive a mortgage in buy your place (which proves a huge problem when you want to go and sell the place in a few years). Also, at least in our situation, the year long warranty we had with our place disappeared when the developer foreclosed and the new buyer did not have to honor it. We ended up having to get a lawyer and were bought out at a lower price then we paid for a year ago. So just a word of caution about condo conversationw - make sure you see documentation as to how many people have bought units in the place you are looking at so you don't have potential problems down the road when you want to sell.

Maryann Haggerty: What a mess!

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Atlanta, Ga.: This year, my county raised my home's assessed value. I submitted a last-minute, hastily written appeal. They disagreed with my reasons and said the assessment was fair. I now have the opportunity to go to an (in-person) assessment hearing.

Do you have any suggestions and/or articles I should read up on?

Also, if I go through with the assessment hearing, is the only thing I could potentially lose is my time? Could I end up come out with an even higher assessment?

Maryann Haggerty: You need to go in with tangible data on the prices of comparable homes. That's usually the only winning argument. Be prepared to explain WHY a given house is comparable, or why not. (Drive by them if you have to; it helps to explain.)

As far as whether the assessment could be raised: I don't know the law in your county/state. You need to research that. But in most places, they can't hike it just because you appeal.

In her column on Sunday, Elizabeth is going to be writing more about how to appeal.

Elizabeth Razzi: I think "hastily written" were the key words there. You need documentation, photographs even, especially if you go on to formally appeal the first turn-down of your request from the assessor's office. At that point, the process becomes more of a formal hearing. Think Perry Mason.

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Falls Church, Va.: Good afternoon, ladies. When can we expect to receive our tax assessment in Fairfax County? I've checked www.fairfaxcounty.gov/dta but there's no information as to when the bills are sent. My husband and I are very curious to see what it says since we purchased the house last year for $35K below the '07 assessment and two houses down the street from us sold in the fall for even less than we paid.

Elizabeth Razzi: The county says late January.

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Silver Spring, Md.: I recently read somewhere that if you put down at least 20 percent on your home, you are not required to have the mortgage company collect your taxes in escrow. Is that correct? Are there advantages to doing this? Thanks.

Maryann Haggerty: It's up to the lender. Some will let you waive an escrow account when you have more than 20 percent down. HOWEVER there were also numerous subprime lenders in recent years who let people waive escrow accounts when they had a lot less than 20 percent in the house. And you know what? That's one more way that people are finding themselves in big trouble, because they're looking at big tax bills they haven't saved up for. (I think that one provision in some of the anti-predatory-lending legislation will prohibit this practice.)

As far as whether you should have one? If the lender makes it optional, you have to decide based on your knowledge of your own finances and temperament. There are many people who would argue that they would be better off putting that escrow money in an interest-bearing account, then paying the bills when they come due. And that's logical. But there are many many other people who just aren't that disciplined in managing their own money. If there is ANY chance you'll spend the money just because you have it in hand, opt for the escrow. You do NOT want to come up empty when it is time to pay taxes and homeowners insurance.

Elizabeth Razzi: I'm personally a big fan of tax/insurance escrows. I hate big bills hanging over my head.

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Elizabeth Razzi: Thanks again for some thought-provoking questions! If internet delays kept you from submitting a question, please put it back in the queue for next time. Bye!

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Maryann Haggerty: Just because they were intresting: Can the first-time buyer who was looking for a bunglaow only search engine send me an e-mail directly with their real-world address so that I can mail out a book? (That's haggertym@washpost.com.) Also, the chatter who originally asked about whether to buy life insurnce in the amount of the mortgage kicked off some intersting discussion, so if you'll send your address, too, I'll try to find an intersting book for you.

OK, we gotta go. Pick up the Real Estate section on Saturday to read about whetehr you need a playroom (plus lots of other good consumer info). On Sunday, Elizabeth will talk some about assessments...

Bye; have a lovely weekend!

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