HOW FIRST-TIMERS CAN GET A GOOD DEAL IN A BUYER'S MARKET

It's no secret that homebuyers can grab real-estate bargains during an economic down cycle. Even in many prime neighborhoods, homeowners who wouldn't budge on price just a few months ago are now willing to negotiate in earnest, says Mark Nash, a real estate broker and author of "1001 Tips for Buying and Selling a Home."

But Nash says many homebuyers -- particularly first-timers -- are timid about taking advantage of the situation.

"Too many buyers are sitting on the sidelines, scared to act," he says. "They should be seizing the opportunities open to them."

Those who don't yet own a property -- and therefore don't need to sell before they buy -- are often in an excellent position to strike a bargain, he says.

Nash tells about a couple in their mid-20s -- two newly minted MBAs -- who recently bagged an excellent deal on their first home. ...