Rents are rising everywhere, but mortgage rates remain alluringly low. The combination is enough to entice many wannabe homebuyers into the market. But once there, some are haunted with misgivings and second thoughts.

"(Some prospective buyers) fear making a long-term mortgage commitment," says Ashley Richardson, a seasoned real estate agent who's affiliated with the Council of Residential Specialists (www.crs.com).

She tells the true story of a pair of clients who'd love to own a home. But they were obsessed with worries about the implications.

After a long and meandering property search, the couple finally settled on a new suburban townhouse. But after an anxiety-ridden two days, the couple phoned Richardson to say they were backing out of the deal during their right-to-rescind period.

Fast forward several months and the couple found another property, one that met all their needs. But they lost out on that house, as well, by submitting a lowball offer they knew would come in below that of rival bidders.

To calm their fears and frame a realistic view, Richardson advises nervous young buyers to consult others in their age group who've already bought a home.

Here are a few pointers for buyers:

-- Keep in mind your reasons for wanting to buy.

Fear is a powerful factor that can stop people from realizing their home-buying plans, even when logic tells them to go forward, says Sid Davis, a real estate broker and author of "A Survival Guide for Buying a Home."

"Obviously, no one has a crystal ball about real estate values or about rental rates. But everyone needs housing, whether that be rental or purchase. So if your dream is to own a home of your own ... you might kick yourself later if you let worry stop you," Davis says.

-- Seek the early backing of a reputable mortgage lender.

Though federal mortgage standards are gradually becoming less stringent, most lenders still go to great lengths to ensure that the loans they originate are solid. That means borrowers must be prepared to respond to their lender's request for documents.

As proof of income, many lenders now insist on more than the customary pay stubs and W-2s. For example, they'll likely ask for at least two years' worth of tax returns. Also, they'll probably want proof that the funds for your down payment have been in your savings or checking account for some time and weren't borrowed from your grandmother just last week.

In addition, a good lender will provide you lots of guidance on how to overcome hurdles -- like rectifying errors on your credit reports, Davis says.

The time you spend documenting your financial fitness to buy a home is well spent if the lender gives you a "pre-approval" letter, a vitally important tool as you negotiate for a property.

"Another advantage of pre-approval is that it helps you define your comfort zone on how big a mortgage you can afford. And that can help dispel your fears about overspending," Davis says.

-- Take a cautious approach to home selection.

Last year, many neighborhoods were short on property available for sale. But inventories are now gradually rising, and more would-be sellers are expected to surface as spring approaches. Davis says homebuyers always have good reasons to be choosy, though not irrationally so.

"Home-buying is like dating to find the right person to marry. You want to be open-minded. But you also don't want to look for a level of perfection that's impossible, because every house has flaws," Davis says.

Having lots of choices is a positive for buyers, but not if it promotes perpetual indecision that delays the realization of their goal. Those who find themselves delaying indefinitely may wish to work with an agent to formulate tighter screening criteria.

"Start with a list of maybe 10 or 12 houses in the best neighborhood you can afford. Then, gradually narrow that list to a shorter one. In the process, you'll learn more about what you're looking for," Davis says.

However, he cautions wariness about any agent who tries to convince you to buy a place that doesn't meet your core criteria, no matter how favorable the price.

-- Screen for homeowners eager to sell soon.

Tom Early, a real estate broker and past president of the National Association of Exclusive Buyer Agents (www.naeba.org), says that during all selling seasons there are some "test-the-market" sellers who have no urgent need to move. But there are also highly motivated homeowners who must move due to professional relocation, a financial setback or divorce.

"If a property is vacant, it's likely the sellers are eager," Early says.

Even if the home isn't vacant, there are ways to assess the sellers' level of motivation. Early says many owners, along with their listing agents, are remarkably frank.

"Some people are astoundingly candid about why they must move. They'll even tell you about their serious money problems or the breakup of their marriage. You don't need to pry, just ask why they're moving and they'll open up," Early says.

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

Many retirees aspire to ownership of a place with easy maintenance, where arduous chores like cutting the lawn and keeping up the garden will no longer be issues. But at the same time they want a home where the extended family will wish to visit often.

With frequent contact, grandparents can play vitally important roles in the lives of their offspring -- including mentor, buddy and hero, says Dr. Arthur Kornhaber, a psychiatrist and author of seven books on grandparenting, including "The Grandparent Guide."

Of course, practical realities often make for less-than-ideal lifestyle arrangements. Many retirees face financial limitations that make it difficult for them to reside near the younger generation. Also, the adults' lifestyle preferences may not blend, says Fred Meyer, an appraiser and long-time real estate broker who's advised many retirees on housing plans.

Are you a grandparent facing hard choices on where to live in your retirement years? If so, these pointers could prove useful:

-- Make your housing move a family decision.

"Long-distance grandparenting is very difficult," Kornhaber says. A few years ago, he and his wife, who have four grandchildren and three great-grandchildren, moved across the country to live near several of them.

If you're contemplating a long-distance move to see more of the younger generation, he recommends you carefully think through all the implications of your move and discuss these in advance with your adult offspring.

"A lot more people in the current generation of retirees want to live near the kids. They're questioning whether a move to an adult community would be the right thing. But before they solidify their plans they need to go over them with the family," Kornhaber says.

The parents of many small children appreciate having the grandparents in close proximity for mutual support and perhaps also child care.

"When the family works as a unit, everyone is happier," Kornhaber says.

But he says that before you make a firm decision to move close to grandkids, you should determine whether their parents might also be uprooting in the near future --perhaps to take another job in a different state.

-- Make sure the new community you select is grandchild-friendly.

Do you and your spouse plan to retire to an area far from the grandkids' house? In that case, you'll want to make sure you select a community that allows extended guest visits, says Merrill Ottwein, a real estate broker and past president of the National Association of Exclusive Buyer Agents (www.naeba.org).

"Some age-restricted adult communities or neighborhood associations limit the number of days that guests can stay over. And this could restrict vacation and summertime visits from your kids," he says.

-- Locate yourself on a quiet street, if possible.

No matter where they decide to live, Ottwein advises clients with grandchildren to position themselves on a road that's safe for the kids.

"For small children, your best bet is to live on a cul-de-sac with no through traffic. Second best is a low-traffic street with speed bumps and few cars passing through," he says.

Protecting children from road dangers is particularly important if you're caring for very young grandchildren on a full-time basis. But it's also ideal for older kids who like to take their bikes and ballgames out into the street.

-- Try to buy a place with space for overnight visits.

If your adult offspring live a plane ride away, and you don't plan to move near them, you probably still hope they'll come to visit and stay over. That being the case, you'll want to purchase a home that offers them comfortable accommodations.

"A guest suite with a private bath would be ideal for the visiting family. Even better would be two guest bedrooms that share a dedicated common bath," Ottwein says.

You may not be able to afford a place with such fancy guest quarters. But at the minimum, it would be nice to have at least one small extra bedroom that would, for example, accommodate a visiting teenager or younger grandchild.

"Young children like having a room at the grandma's place where they can keep their toys. If you can't give them a dedicated room, at least be sure your new house or condo has a corner of a room where they can store their things," Ottwein says.

-- Reject the notion that you'll need a big yard.

Ottwein, who has 13 grandchildren and lives near most of them, spends as much time as possible with the kids. Fortunately, he and his wife own a large property with extensive gardens and play areas. But he says it's not essential for downsizers to have a big yard, playground equipment or swimming pool to attract visits from offspring.

"It's great if you could at least live near a park, a rec center, a soda fountain or a movie theater. But remember that the main idea is just to spend quality time with the kids. And you don't need to live richly for that," he says.

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

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.)