Though a real estate recovery is underway, home prices still aren't back to their pre-2007 levels in many neighborhoods. Even so, many young families worry it's already too late to buy that starter home in a nice suburb with good schools.

"Buyers hung around waiting for the right moment to get into the market. But that moment seemed to come and go in a heartbeat," says Karl Case, a home values expert and senior fellow at Harvard University's Joint Center for Housing Studies.

Not only are prices on the rise in many desirable areas, inventories are also tight. These dual factors make it doubly frustrating for frugal buyers who now must compete with others for coveted properties.

Along with rising housing prices, young families are already trying to cope with high living costs for other basics, from child care to food and gas. But Case says it's not too late for most young homebuyers to make a good property purchase.

Case says it's pointless for would-be homebuyers who missed the bottom of the market in their chosen area to focus on the past.

Rather than obsessing about not having bought at an earlier point in the cycle, Case advises first-time buyers to move forward and think strategically. Here are a few pointers:

-- Consider an "overpriced" home.

Young homebuyers (and even veteran buyers) can overlook an important fact about real estate: You can sometimes get the best deals on homes that were significantly overpriced at the outset.

Barry Nystedt, a real estate broker and former president of the National Association of Exclusive Buyer Agents (www.naeba.org), says the secret to shopping among overpriced properties is to be the first to know when price cuts occur.

"Sometimes people overprice because of ego, but mostly they do so because of ignorance of the market. Eventually, after their property has been sitting unsold for a lengthy period, they get worn down. That's when they drop their price and start to negotiate seriously," Nystedt says.

"Through the years, I've gotten some very good deals for clients after price reductions have occurred," Nystedt recalls.

-- Include out-of-style properties in your search.

First-time buyers may wish to consider a category of properties a notch above fixer-uppers: what agents call "cosmetically challenged" properties. These homes are well kept and the fundamentals, including electricity and plumbing, all work. But their owners have neglected the interior decor. Because of that, they're often sold below market value.

As Nystedt notes, many longtime owners of solid family houses never redo their tired, fraying, out-of-date interiors.

"But if the house has good bones and you get a favorable price on it, it will pay you to strip that old wallpaper, pull up the carpet and refinish the hardwood floors beneath," Nystedt says.

But he cautions that homebuyers should be careful to distinguish between outdated homes and those with serious underlying issues.

He urges anyone buying a home, especially money-conscious young families, to make their purchase conditional on a thorough home inspection to ensure the place doesn't have fundamental flaws such as structural problems. These are much more costly to fix than a dated living room.

-- Search for highly motivated sellers.

For home-sellers, time is money. People who must move quickly, perhaps due to job relocation or a marital breakup, are typically more willing to let their property go for a reasonable price than those who can hold out.

You needn't do anything unethical to find out what motivates the owners of a home that interests you. Often, the listing agent will answer direct questions about the sellers' motivations.

"The real estate business is based on relationships. Agents talk to each other, and your agent might hear from the listing agent that the owners of a property you like are eager for an immediate offer," Nystedt says.

He says owners who've accepted an out-of-state job transfer are usually the most willing to negotiate, particularly if their property is already vacant or has been taken over by a relocation company.

"'Relo' companies aren't emotional sellers. They'll often cut to the chase to sell the property as soon as possible," Nystedt says.

-- Exercise caution about taking a non-traditional mortgage.

It's no secret that with mortgage rates hovering around historic lows, most homebuyers are opting for a traditional 30-year fixed-rate mortgage. Still, some first-time purchasers facing an affordability pinch are now considering non-traditional mortgage alternatives, according to Dale Robyn Siegel, a veteran mortgage broker who heads her own firm.

Siegel, author of "The New Rules for Mortgages," says one budget-stretching alternative to a fixed-rate loan is a "hybrid" that guarantees a constant interest rate for 10 years before converting into an adjustable rate mortgage that changes annually.

"I wouldn't go with any hybrid that converts to an ARM after just five to seven years. Interest rates are bound to rise in the next few years, and you may wind up staying in your house longer than expected. The reality is that life could get in the way of your best-laid plans," Siegel says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

In many neighborhoods, the backlog of foreclosed properties is now clearing, and home-selling activity is picking up dramatically. Meanwhile, buyers who've been waiting on the sidelines for several years are finally jumping in the fray.

"We're hearing about appreciation for the first time since 2008. That's causing a lot of people to hurry up and make a purchase before they're priced out of the market," says Karen Rittenhouse, author of "The Essential Handbook for Selling a Home."

Rittenhouse, an investor who heads her own realty firm, says buyer eagerness is prompting more wannabe sellers to plan a springtime sale this year. That, in turn, means leading real estate agents are juggling more listings.

But Rittenhouse urges sellers to exercise extra caution when selecting an agent during this busy spring season, to make doubly sure their listing commands the personal attention it deserves.

"You need to ask for referrals, check references and interview every agent you're considering. Like hiring a cancer specialist, you don't want to just pick someone out of the phone book," she says.

Many successful agents hire assistants to handle much of their routine work, and Rittenhouse doesn't necessarily disapprove of this practice. But she says it's important that your primary agent handle such core functions as negotiating on your behalf when an offer comes in.

Eric Tyson, a personal finance expert and co-author of "House Selling for Dummies," says it isn't always easy to determine in advance whether an agent will give your listing the attention it deserves.

Here are a few pointers for home sellers:

-- Review a potential listing agent's track record.

Maybe the agent you're thinking of hiring is a superstar, having won numerous awards for sales volume. Even so, this could be the wrong one for you, Tyson says.

"Just because the agent is a big producer in sales volume doesn't mean (he or she has) expertise selling in your specific area or your type of house," he says.

Tyson and his co-author of "House Selling for Dummies," Ray Brown, urge would-be sellers to get an "activity list" from any agent they're considering. This should itemize all sales closed in the previous 12 months and show the property locations, as well as list and sale prices.

"You can't beat this raw data when you're sizing up an agent," says Tyson, who says an activity list is more revealing than all the awards an agent has won in the past. That's because it tells you how the agent is now performing on a day-to-day basis.

Agents don't just specialize in particular areas, they also specialize in certain price categories, and you should find someone whose focus aligns with your needs.

-- Ask the agents you interview about their vacation plans.

Obviously, agents like to pull away for vacations from time to time. But real estate experts caution against hiring one who plans to head for vacation during the early weeks of your listing period. That could hinder your sale at the time when buyer excitement about your place is high.

Often agents rely on backups when they're away. But Tyson says this is a poor option for clients, especially if the agent is gone for more than a couple of days during the period when offers are most likely to come in.

He says it's unreasonable to ask agents to forecast their travel plans a full year ahead. But a couple of months in advance, it's fair to ask about any lengthy absence that will occur shortly after your property goes on the market.

-- Seek out a responsive listing agent.

Starting the day that your property goes up for sale, you need to start getting a regular stream of feedback from your listing agent.

For example, if your agent stages an open house for real estate professionals in the area -- known as a "broker's open" -- you'll want to receive their comments about the price and condition of your home. Also, you'll want timely feedback from potential buyers who come through your place for showings.

Why is timely feedback essential to a successful sale? Because it allows you to correct course quickly. For instance, immediate feedback that your home is overpriced would let you adjust your price before it's stigmatized.

Your listing agent should be the one giving you feedback on a regular basis. To ensure this happens, you need an agent who is meticulous about collecting comments and passing them on.

You can increase your chances of finding a conscientious communicator by asking the references that your agent gives you whether they got regular feedback. Plus, you can insist that your listing agreement specify how often, and whether by phone, email or text, your agent will contact you.

"When it comes to selling your home, good communication with your listing agent isn't a luxury. It's crucial," Tyson says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

In many neighborhoods, the home sale market is stronger than at any point in the last five years. Still, some houses that should sell easily continue to languish unsold for a lengthy period.

What's the problem? Mark Nash, a real estate broker and author of "1001 Tips For Buying and Selling a Home," says too few sellers grasp the need to fully prepare their property for market.

Through his more than 20 years in real estate, Nash says he's observed that many homeowners object to the hard work needed to put their property in excellent condition.

Nash says most homebuyers will rule out any property that appears crowded or poorly kept. Everything must be in pristine condition.

"Buyers are fussier than ever, and with good reason. With memories of a tough real estate market still fresh in their minds, they don't want to take any chances," Nash says.

Here are five essential steps for a better property sale:

-- No. 1: Buy a paintbrush and get busy.

To show well, most properties need a cosmetic redo that involves extensive painting.

Of course, you can always hire professional painters. But Nash says many homeowners are fully capable of doing interior painting themselves.

"The secret is in the prep work. If you're a good painter and have the time and inclination to do all the necessary preparations, you can save a lot of money," he says.

Nash recommends that do-it-yourself painters seek guidance from a local paint or home store, which can help with color selection.

When it comes to technique, the websites of major paint companies, such as Benjamin Moore, Duron and Sherwin-Williams, can also be helpful.

-- No. 2: Find others who'd appreciate your superfluous belongings.

As real estate agents know, a cluttered home shows poorly. But many homeowners have difficulty dispensing with serviceable items they no longer use. However, they're more willing to let go of excess belongings if they know someone else will use them.

You can give your extra items directly to a charity such as Goodwill or the Salvation Army. Or you can find willing recipients through online recycling services. One such program is The Freecycle Network (www.freecycle.org), which helps people "gift" items to others in the same area. (Membership is free and also allows you to pick up items from others who live nearby.)

Of course, to clear out a property it's inevitable that some items that can't be given away must be tossed out.

-- No. 3: Place excess furniture in storage.

Sid Davis, a real estate broker and author of "A Survival Guide to Selling a Home,' says nearly all sellers have much more furniture than they should to present their property well.

To make a dining room seem larger, he counsels sellers to remove extra leaves from their dining table and to leave only four chairs. Also, remove any bulky china cabinets.

In addition, remove all but a few pieces of furniture from your living room or den. Davis recommends you pare down to a single sofa, a couple of end tables and lighting. If possible, you should also remove a large-screen TV.

Ideally, you'll place any huge pieces of furniture into a storage unit until your sale goes through. One alternative is to store these in your garage until you move.

"Buyers are more forgiving of a garage that's crowded than any other area of the house," Davis says.

-- No. 4: Review the track record of any agent you're considering.

Davis urges sellers to take the time necessary to find the best possible listing agent. And he says statistical measures are often helpful as you seek to determine if a listing agent performs well for clients.

Ask the agent for a printout on his or her sales performance over the past six to 12 months. For each sale listed, make sure the printout shows how many days it took to sell the property ("days on market") and how well the owners did at closing ("list-to-sale price").

But Davis says statistics alone don't give you the whole story.

"You also need to check references, a step most sellers don't take because they're afraid of calling up perfect strangers," he says.

-- No. 5: Make sure other agents in your area know about your place.

Davis says open houses help the agents who run them to find new clients. But he believes they're less valuable to the homeowners whose property is on display.

"Most people who come to open houses are curious neighbors who just want to compare their house with the one up for sale," he says.

Fred Meyer, a veteran real estate broker who sells property near Harvard University, says that what's known as a "broker's open" is more useful to sellers. This is an event designed to draw in real estate professionals from the surrounding area.

Meyer says the big plus of a broker's open is that it increases the exposure given to market-worthy properties.

"If the other agents visit your house and like it, they'll influence their clients to also come by and take a look. Remember, agents have a lot of pull in deciding which properties are seen by serious buyers," he says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)