As the velocity of home sale increases, the real estate industry is watching one indicator closely: the number of first-time homebuyers in the mix.

"For far too many young people, it's been more of a renters' market than a buyers' market for many years," says Chris Polychron, president of the National Association of Realtors (www.realtor.org).

He cites statistics from a survey done by the association showing that the share of first-time buyers in the home-buying mix has been steadily dropping to its current level of about 33 percent. That's the lowest share since 1987.

While factors like high levels of student debt and slow wage growth have held back young buyers in the recent past, other things are starting to work in their favor, such as the gradual easing of credit standards and access to lower-down-payment mortgages.

Another major positive for buyers, according to Polychron, was the recent announcement of a reduction in the annual insurance premiums that must be paid by homebuyers who take out mortgages backed by the Federal Housing Administration (FHA).

These developments and overall generational trends lead Polychon to believe that an increasing number of first-time buyers will enter the market and close a deal this year.

"People's views on homeownership evolve over time. All it takes for many young adults to go from renting to wanting to buy is the birth of their first child. But even then, it's a challenge for young people living in a high- housing-cost market," he says.

Here are a few pointers for homebuyers, including first-timers, trying to beat the odds:

-- Take a strategic approach in the emerging buyer's market.

"It's a simple matter of economics. Where there are more sellers than buyers, the pendulum starts to swing back toward the buyer," says Sid Davis, a real estate broker and author of "A Survival Guide for Buying a Home."

Sometimes would-be purchasers shopping in a buyers' market feel guilty about pressing their advantages when bargaining.

But Davis says such feelings are groundless.

"Where they have the upper hand, sellers grin all the way to the bank. They (weren't) a bit bothered by using their leverage when they were in the stronger position. And the same should hold true for buyers," he says.

-- Watch overpriced properties for price reductions.

In an area where the market is shifting in favor of buyers, it sometimes takes sellers time to adjust their thinking.

Have you targeted a neighborhood where you have a strong interest in one or more homes that you and your agent believe are priced well over market value? Then Davis suggests you may wish to wait until the sellers come down on their own before you start bidding.

"One day, sellers who've been unrealistic might wake up in a panic. After their house has been on the market for a good while, reality hits them between the eyes and then suddenly there's a big price drop," he says.

A significant price drop is often a signal that once-stubborn sellers are ready to bargain in earnest, maybe because they face a deadline of their own.

The key to a wait-for-a-price-drop strategy is to keep a close eye on a home so you can submit your bid at the opportune moment and not lose the property to another purchaser.

"Make sure you stay in close touch with your buyer's agent so you'll know the minute a price drop occurs. It's also a good idea to set up an alert to notify you by text or email that a price drop is occurring," Davis says.

-- Make sure you take full advantage of your right to a home inspection.

In sellers' markets of past years, would-be buyers who had to contend with rival purchasers would often waive their right to a home inspection to increase their appeal to sellers.

But Tom Early, a veteran real estate broker, say inspections are nearly always a vitally important idea, especially for those planning to buy a property that's over 15 years of age, which could have serious problems.

"If your inspector finds terrible things wrong, you may want to walk away from the deal before it closes," says Early, who was twice president of the National Association of Exclusive Buyer Agents (www.naeba.org).

In most cases, inspectors don't find serious shortcomings. Still, Early says that many lesser issues that are found can be used to the buyers' advantage in gaining concessions.

-- Don't insult the owners of any property you'd like to own.

In areas where rising inventories are giving buyers more power, Davis says some prospective buyers try to take liberties that can backfire.

One common mistake involves any statement you might make that wounds a seller's pride in their home. Another misstep involves making a ridiculously below-market bid which so stuns the owners that they may refuse to deal further with you.

"People who make ludicrously low offers are often the victims of their own folly," Davis says.

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

As the economy improves and gas prices fall, more homebuyers are pondering the purchase of a new house in a distant suburb where they can get more square footage for the money. But a leading expert on commuting warns of worse commutes ahead.

"The unfortunate reality is that traffic congestion gets worse when gas gets cheaper and more people have jobs," says Alan Pisarski, a transportation consultant and author of the "Commuting in America" book series.

Eric Tyson, a personal finance specialist and co-author of "Home Buying for Dummies," recommends that all buyers take the issue of commuting very seriously and recognize that gas prices will almost certainly rise again.

"Beware of the cyclicality of all energy prices. You don't want to trivialize the costs of a long commute in either money or time. There's also a fatigue factor that sets in, especially after you've done a lengthy commute for a few years," Tyson says.

Why are some homebuyers tempted to buy in an outer ring suburb? Tyson says that in many metro areas, the bulk of new home construction is situated in the outer tier, where developers can obtain the cheapest land.

"Lots of buyers -- including those on a tight budget -- want that big new house with all the bells and whistles. That's a house they can only afford far outside a city or town center," Tyson says.

Commuting problems aren't easily escaped in many areas. But Tyson says homebuyers who are careful to research the neighborhoods they're considering can ignore some of the more horrific travel problems. Here are a few pointers:

-- Try out your commute on more than one day of the week.

Many real estate specialists advise buyers to hold off on choosing an area until they know what their prospective commute would involve.

"You have to drive the drive at the actual times you'll be doing it daily. There's simply no substitute for such test drives," Tyson says.

Pisarski says one test drive is insufficient because the volume of traffic can vary widely from one day to another, especially on overburdened roads. He recommends Tuesday and Friday -- usually the heaviest traffic days -- for the best commuter tryouts.

-- Look for a commute that doesn't depend on a major highway.

The interstate highway system was designed for long- distance travel, not commuting, Pisarski notes. But commuters have increasingly come to depend on such roadways for daily trips to work and back.

In an effort to ease traffic congestion, many local governments are now widening roadways rather than starting from scratch with a new highway. Typically, an ambitious new road project is more controversial, costly and takes longer to build.

But Pisarski cautions that relying on a major highway as the main conduit of your commute can backfire when the unexpected occurs, such as when a tractor-trailer tips over and traps motorists for hours on end.

Listening to radio traffic updates can alert you to problems ahead of time. But such alerts are only helpful if you have alternative ways to reach your destination.

-- Consider a community not hemmed in by physical barriers.

Many communities face major traffic challenges. But some have better prospects for future relief than others.

"Homebuyers should be wary of a traffic-ridden community that's circumscribed by any physical barrier, such as mountains or a body of water," Pisarski says.

Moreover, he says road-construction projects to improve travel are much more likely in areas free of these natural obstacles.

-- Talk to residents in an outlying area where you'd like to live.

Though the details of their commutes will differ, your prospective neighbors should be able to tell you what roadways are the most troublesome and when.

Also, local residents may be able to tell you about future housing developments slated for their area, which will give you clues to whether current traffic problems might worsen dramatically in the future.

According to Pisarski, too many people take a mental snapshot of the current road situation and make the mistaken assumption that the picture won't change.

"With infrastructure projects backed up due to funding declines, traffic could easily get worse," he says.

-- Review your plans to move to a "fringe" suburb before committing.

As construction continues to bounce back in the aftermath of the recession, Tyson says congestion is increasing most rapidly in outlying areas. Yet these are the ones where new road construction struggles most to keep up with costly transportation projects.

It's easy to identify neighborhoods where local government services are strapped. Often they have schools bulging with students and emergency medical services under stress. They also lack funds to widen or replace the narrow roads built when the community was still rural.

It's understandable that income-constrained homebuyers would consider moving to an outlying area to get more house for their money. But those who make this trade-off should remember that they'll probably pay a higher price in other ways, Tyson says.

"Do you really want to live so far away from work that you'll roll into your driveway at 9 p.m. and have only enough time left to grab a bite and watch a little TV before going to bed? That kind of lifestyle could be too high a price to pay for your castle," he says.

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

Were you born in the 1960s, at the tail end of the baby boom?

Then maybe you're like many in your age group who are trying to juggle multiple financial goals simultaneously.

Perhaps you're seeking to buy a more commodious house while also grappling with the challenge of funding your children's college years. As if these pressures aren't enough, Lisa Hatcher, a certified financial planner, has an additional one: your retirement.

"People in their 50s are alert to the issue of retirement savings. But they're very resistant to reducing their living standards in order to save as much as they'll need," says Hatcher, who's affiliated with the Garrett Planning Network (garrettplanningnetwork.com).

She says boomers are the first generation that must worry about paying for their own retirement because many rely on largely self-funded 401(k) plans, instead of the employer-provided pensions of yore.

Despite competing financial pressures, Hatcher says many people in their 50s can still meet more than one financial goal, assuming they plan carefully.

Here are a few pointers:

-- Search for creative ways to fund college costs.

Michael Knight, another Garrett Planning Network adviser, says many of his clients are feeling a great deal of pressure to maximize savings for their kids' college expenses.

"On average, students who graduate with a bachelor's degree have $33,000 in debt, and many grad students ... come out with six-figure debt," says Mark Kantrowitz, a leading authority on funding college and the senior vice president of Edvisors. The company (edvisors.com) runs a suite of websites about planning and paying for college.

Kantrowitz urges students who've yet to enter college to take an analytical approach to school selection, making sure they get the maximum return on investment.

"For example, if you're going into engineering, you'll probably do just as well at a public university as an Ivy League," he says.

As long as they remain as objective as possible, families can often work out compromise scenarios to help reduce the parental burden of college funding.

For instance, a family could decide to divide the cost of their children's undergraduate schooling three ways: a third paid upfront by the parents; a third through the kids' part-time and summer employment; and a third with student loans.

-- Think through your financial priorities in a holistic way.

Before they begin analyzing numbers, Knight asks clients to itemize their top financial objectives. They write down their money goals for the next six months, two years, 10 years and 30 years.

"Each spouse does this exercise separately and then they do it together, which makes for very sobering conversations," Knight says.

This exercise serves to create a firm foundation for a financial "action plan" that can help people clarify their goals in an orderly way.

-- Consider engaging a financial adviser for a few hours.

An increasing number of financial planners are willing to work on an "as needed," fee-for-service basis. One source for referrals to fee-only financial planners is through the National Association of Personal Financial Advisors (www.napfa.org).

Knight says that often clients need only three to four hours of help from a financial planner to reconcile seemingly conflicting objectives.

-- Chart your housing plans in context with your other goals.

Knight encourages his clients to fulfill their home-buying wishes, but only if doing so doesn't sabotage their higher priorities.

Suppose you're a 50-something who intends to retire at age 70 and then travel abroad. Would you be comfortable meeting hefty mortgage payments at that stage of your life?

One approach that could allow you to buy a better home and also pursue a fulfilling retirement is to finance the purchase with a 15-year mortgage rather than a traditional 30-year one, Knight says. Then your home will be paid off, or nearly so, by the time you retire.

"With the shorter term, your payments are not that much higher," he notes.

-- Seek a lifestyle focused on the future as well as the present.

Knight says many couples underestimate the number of years one or both will be retired.

"People are living longer and as they grow older, some of their expenses, such as health care, increase," he says.

The good news for many late boomers is that they still have time to build a retirement nest egg without sacrificing near-term money goals.

"If they're focused on their savings and are willing to work long enough, it's possible for lots of people in their 50s to have it all, including that dream home they always wanted," Knight says.

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