In many popular neighborhoods, there's a significant shortage of fairly priced houses available for sale. But real estate specialists say open-minded purchasers can still sometimes track down a decent deal, even in a sizzling real estate market.

"Hidden gems are becoming further and further between. But they're still out there," says Daren Blomquist, a senior vice president for Attom Data Solutions (formerly RealtyTrac), which follows housing markets all over the U.S.

"There are still deals out there on bank-owned properties that have been in foreclosure for a long time and are sitting unsold and vacant," he says.

Besides bank-owned properties, Blomquist advises bargain-minded homebuyers to consider "stale" houses, properties that have languished unsold for a lengthy period. Often these are homes that have been shunned by potential purchasers because they were significantly overpriced when they first hit the market.

Joseph Schiro, a veteran real estate broker, says the mere fact that a home is vacant for a time can raise suspicions on the part of many buyers.

To assist his home-buying clients considering purchase of a vacant property, Schiro says he often seeks to determine if its owners have an outstanding mortgage on the place by looking at publicly available land records.

"Sellers with a mortgage who were overpriced in the past are usually a lot more motivated to sell than people who own a home free and clear," according to Schiro.

Because vacant property is superficially less appealing to a cross-section of buyers, Schiro says those with the vision to look beyond the must and dust of a vacant place can sometimes do well on price.

"When it comes to a vacant home, some buyers miss out because they lack the creativity to envision its potential," he says.

Here are a few pointers for buyers:

-- Attempt to learn about a vacant home's former occupants.

It's tough to gain details on a house that's been vacant for months, especially if its owners have already moved. It's still harder if the empty property has fallen into the ownership of a bank through foreclosure.

"The bank won't tell you anything," says Merrill Ottwein, a veteran real estate broker and past president of the National Association of Exclusive Buyer Agents (www.naeba.org).

To get the scoop on a vacant property that interests you, your best sources are often neighbors.

"Those still nearby probably know all the skeletons in the closet. They'll spill all they know and tell you if the people who lived there kept up the place before they moved out," Ottwein says.

Most people who must leave due to foreclosure don't deliberately damage their home. Still, their financial problems could mean they lacked money for crucial maintenance chores during their tenure in the property, he says.

-- Don't rule out a "pre-inspection" of a vacant place.

Perhaps the property you like has gone unsold for so long that you're nervous about hidden defects. In such cases, Ottwein advises you to consider hiring a home inspector to take a preliminary look.

He tells the true story of one of his clients, who wanted to learn more about a single-story ranch-style house that had gone vacant nine months before he spotted it. The house was listed at $50,000 below other comparable homes in the same neighborhood and he was suspicious as to the reason.

On his agent's advice, the client spent $200 for a cursory home inspection. This revealed that the house had a serious crack in its foundation, a very expensive problem to fix.

-- Ensure that the utilities are turned on when the inspection is done.

Dorcas Helfant, the broker-owner of a realty company, says cost-conscious banks that own foreclosed property often shut off utility service to the vacant homes they own, including gas, electric and water. But a lack of utility service poses a challenge to home inspectors.

"It's actually pointless to do an inspection when the utilities are off. You can't tell if the cooling, heating and plumbing are functioning correctly," says Helfant, a past president of the National Association of Realtors (www.realtor.org).

Helfant strongly recommends that buyers always have a home inspection on a vacant property -- if not before their bid is submitted, then after. And even if you have to pay to get utility service restored, she says it's worth the expense.

"It shouldn't be too costly to get the utilities restored for just a five-day period or so," she says.

-- Take neighborhood property values into account before making a bid.

"Before you shape your offer, you and your agent should take a careful look at the recent sales history in your neighborhood. In hot markets, it's imperative that you be extra vigilant to avoid overpaying," Ottwein says.

Ideally, you'll want to examine at least three similar properties that have sold in the immediate area in the past three to six months -- adjusting for differences, such as a larger garage or a second fireplace.

Although you'll want to take a home's condition into account when judging its market value, Ottwein cautions against seeking out-of-proportion discounts to compensate for superficial shortcomings.

-- Don't spend more than you can afford, even for a vacant house.

Brokers like Schiro worry that their home-buying clients, empowered by current low mortgage rates, will one day live to regret spending more than they can afford for a vacant house in a prestige neighborhood just because they bought it at a slight discount.

"No matter the discount, you never want to buy far out of your comfort zone," he says.

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

It's no secret that many young people are marrying later or not at all. Yet, surprisingly, many want to buy a home anyway.

"More young folks are delinking homeownership from marriage. They want the personal freedom of staying single along with the predictability of not facing constant rent increases," says Merrill Ottwein, an Illinois real estate broker and past president of the National Association of Exclusive Buyer Agents.

Many of these young would-be buyers want to live in cities.

"I've never had a single client who says they want to live as far as possible from town. Once they're out of school, they want a surrogate community where they can meet their friends on foot," says Deborah Rutter, a real estate broker who sells homes near the University of Virginia campus.

Sid Davis, a veteran real estate broker and the author of "A Survival Guide for Buying a Home," doesn't advise just any single buyer to purchase a property. He recommends against buying if your job is rocky or you expect to go on to graduate or professional school in the near future.

"If you could be moving in five or fewer years ... you probably should abstain from buying a house now. That's because your transaction costs could more than wipe out any appreciation you might enjoy," Davis says.

Be especially careful to avoid short-term ownership of a brand-new house, says Davis, who points out that a new property typically requires some expensive initial fix-up costs, such as landscaping, fencing and window treatments.

But if your life is on a steady course and you perceive that real estate values are on the upswing in the area where you live, don't let your single status keep you from making a purchase.

Here are a few pointers for single buyers:

-- Stay within your financial comfort zone.

Years after the real estate downturn, mortgage lending standards remain rigid. Still, as Ottwein says, it's possible for single homebuyers, or anyone, to borrow more than is prudent for their lifestyle.

"Remember that the people who make mortgages know nothing about your spending priorities," he says.

Also, keep in mind that as a single person living alone, you're financially more vulnerable to the impact of an unexpected job loss than someone with a second wage earner supporting the household.

"Single people should be especially cautious about maxing out on a home loan. Go ahead and buy a place, but avoid becoming 'house poor' because of it," Ottwein says.

-- Seek a "roommate suitable" property if you can afford one.

After sharing space with roommates in college dorms or living with friends in rented apartments, you may be looking forward to living alone in the home you buy. Still, Ottwein encourages you to consider a property that would be attractive to potential roommates, should you one day need the rental income to offset your mortgage payments.

What sort of property would be most alluring to roommates? Ottwein suggests you look for a place with a bedroom suite that includes a private bath -- so a roommate could live more autonomously. A separate, outside entrance to the suite would be ideal. And a property located near a college or university campus, where demand for rentals is strong, could also be a good bet.

-- Seek an energy-stingy home.

After moving in, many first-time homebuyers are surprised by the size of their outlays for home upkeep. They hadn't expected to spend so much for everything from plumbers' bills to lawn fertilizer. The size of their utility bills also comes as a shock.

Obviously, some costs associated with homeownership, such as taxes and insurance, are unavoidable. But home shoppers can more easily contain some costs by selecting an energy-efficient property that's well insulated and has substantial, double-pane windows, says Davis, author of "Your Eco-Friendly Home."

"Don't try to project your future energy costs based on what a home's sellers have been paying during the last 12 months. Energy prices are always subject to the vagaries of the market. Plan for the worst-case scenarios," Davis says.

-- Factor your social life into your buying plans.

If you're like most young single people, your social life is hugely important to you. Even if you expect to outpace your friends in the quest for homeownership, you won't want your move to result in social isolation.

You don't have to live in the immediate vicinity of your friends to stay in touch. But you'll want to avoid buying a property many miles from your closest friends, even if that's the most affordable choice.

"Granted, you can probably get more square footage for the money if you move far out of the city. But very few singles are happy rattling around in a big house if they're socially isolated because they live an hour away from their buddies," Ottwein says.

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

An artist in her late 50s is planning to sell her modest three-story house in Minneapolis so she can retire to a small condo near Phoenix. But prepping her place for sale seems like an overwhelming project.

Though tremendously creative, the artist suffers from a problem with "executive function." This means she finds it very difficult to initiate, plan and pursue projects in a methodical, step-by-step manner.

Linda S. Anderson, the owner of organizational firm Getting Clear, doesn't know the artist in this true story. But she's coached many adults who are equally perplexed when facing a major multi-step project.

Poor executive function is an issue for many who've suffered brain injuries or post-traumatic stress disorder. It's also nearly a universal problem among people with attention deficit disorder (ADD or ADHD).

As an ADD coach, Anderson has worked with a number of adults with impaired executive function who are facing the challenge of planning and executing a home sale. The "to do list" is long for homeowners who want (or need) to sell.

Choosing the right listing agent is just the first step. Sellers must also decide how much to ask for the home and complete the often-demanding process of de-cluttering the place and ensuring it's in good repair. In addition, there's the move itself.

A well-trained organizational coach can help people tackling a big project to create an overall plan and then break the plan into a sequence of small and manageable pieces. But for those who can't afford to hire a professional in the field, Anderson says the right relative can also be very helpful.

"Just pick a family member who won't nag or criticize you. Find a relative who will sit in the seat next to you to help develop your plan. Also, ask them to check in with you periodically to stay on track and adjust your timeline," Anderson says.

Here are a few pointers:

-- Seek out the support you need to move forward.

Elisa Adams, a professional organizer who's worked with many home sellers, says people with ADD should be careful whom they ask for help.

"The last thing you want is someone who is critical or judgmental," says Adams, who's affiliated with the National Association of Professional Organizers (napo.net).

By visiting this association's website, you can search for organizers in your area who are skilled in assisting clients with executive function issues. Another way to locate a coach is through the online ADD consulting firm of Terry Matlen, a Michigan-based therapist who focuses on female clients (addconsults.com).

Other places to search for help? Matlen, the author of "The Queen of Distraction: How Women With ADHD Can Conquer Chaos, Find Focus, and Get More Done," suggests you post an ad to hire someone who is naturally organized. This person could help you both create a game plan and provide hands-on assistance with the process of de-cluttering your property and pre-packing for your move.

-- Capitalize on your strengths.

Anderson has developed several time- and attention-management techniques that often work for people with organizational issues as they face the tasks involved in a lengthy project.

Even after the project is broken down into small pieces, people with impaired executive function must beware of time-consuming digressions, such as phones and email, which should be shut off during projects.

Anderson suggests you take frequent breaks during a laborious task, such as a painting job. To help avoid burnout, use a kitchen timer and give yourself a brief break when it goes off.

"To keep on track, you need to pat yourself on the back every time you make progress toward your goal. Also, give yourself rewards along the way," she says.

-- Find ways to jump-start your work on an "off day."

Despite the best of plans, people with organizational issues sometimes have trouble gaining the momentum to launch into a new task, Anderson says.

If you find yourself in this situation, she recommends you consider starting your day with aerobic exercise -- such as a fast-paced walk through your neighborhood.

"This helps stimulate the brain into action, as does the use of rhythmic music," Anderson says.

If you're working alone and find yourself unable to concentrate, consider asking a friend or neighbor to step in, at least until you can get your work started.

"Many people need to connect and reconnect with other people throughout a big project," Anderson says.

-- Make sure you allow ample time for any multi-step project.

In setting a schedule for the tasks involved in your housing transition, Anderson advises that you set rational, reasonable deadlines and not try to fit too much into any given day.

Besides the customary to-do list, one tool Anderson likes is an accompanying "not to do list." By reducing the expectations you set for yourself, you could also reduce your anxiety level and accomplish more.

Even those who are normally very focused can find a housing transition overwhelming. This is especially so if they've lived in the same home for a long time and are downsizing to a smaller place.

"Don't think you're alone in your struggle to complete a major project like a house sale. Our society is full of compelling distractions and folks are busy. So, remember there are many people with strong executive function skills who still find it challenging to manage a big housing transition," Anderson says.

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