America’s millennial generation -- born between 1981 and 1996 -- are highly motivated to buy their first house. They spend countless hours on the web searching properties. But many are scared to go beyond the internet phase.

“A lot of people get stuck window shopping online. It takes them a long time to get their ground game going,” says Devin Ratoosh, a 32-year-old real estate broker who counts many millennials among his home-buying clients.

To illustrate, he tells the true story of a longtime buddy, a computer engineer also in his 30s, who spent more than a year in the internet-search phase before finally touring properties with Ratoosh a couple of weeks ago.

“This guy took forever to get his ducks in a row. But he and his wife, both working from home due to COVID-19, were extremely unhappy living in their small city apartment. They really needed two home offices and a yard for exercise. The pandemic got them into the serious phase,” Ratoosh says.

Just this week, the couple is closing on a three-bedroom bungalow with an ample yard in a comfortable, middle-income suburb.

Ratoosh cites several reasons for homebuying hesitancy among millennials who are wannabe owners. One is that they came of age during the housing downturn of 2008, when foreclosures were everywhere.

Another limiting factor is that many cash-tight millennials believe they must amass a 20% down payment before they can seriously consider buying.

“That’s a false concern. There are many programs for people with much less than 20% down,” says Ratoosh, who’s in business with his boomer-age father.

Here are a few pointers for millennial renters seeking a well-priced house:

-- Move forward once you’re certain of your decision to buy.

True real estate pros never urge prospective buyers to rush into a home purchase prematurely. Even so, for those who are genuinely ready to proceed, they say one reason for people to move forward soon is that low-cost financing is currently available.

“Mortgage rates are now breathtakingly low,” Ratoosh says.

-- Remember that rents can always change.

It’s hardly surprising that those who sell real estate for a living encourage tenants to favor a home purchase over rental. But they do make one point that resonates with first-timers, including millennials. In most areas, your monthly housing payments should remain more stable over time if you’re paying on a mortgage rather than a rental lease.

“You’ll have fewer sleepless nights with one of those delightfully low fixed-rate mortgages,” says Tom Early, a broker and past president of the National Association of Exclusive Buyer Agents (naeba.org).

Buying also gives you the potential to build equity --especially when home values are ascendant, as they’ve been for multiple years.

-- Seek mortgage preapproval before hunting for a house.

It’s important to gain mortgage clearance before attempting to bid on a property. That involves getting your credit standing assessed and verifying your income and assets.

“In popular neighborhoods, the supply of available entry-level homes is very limited these days. So don’t even think about trying to compete with other bidders prior to gaining the credibility you need through mortgage pre-approval,” Early says.

-- Carefully time your pitch for a “stale” listing.

During the current pandemic period -- when buyers outnumber sellers in many desirable markets -- there are relatively few workable ways to compete for an affordable house. But one approach that could help involves pursuing a listing that’s been languishing unsold for a lengthy period.

“Those who way overprice their home when it first goes up for sale usually earn the ire and disrespect of many buyers,” Early says.

When finally these owners face reality and get into a “must sell” situation with their stale property, they might even let the place go slightly below market.

How do you know which sellers have a strong need to sell soon? Early says that the listing agents for many stale properties can be remarkably frank about why the owners need to move.

-- Look into buying a “spec home” from a builder.

Early, who’s worked in real estate since 1982, says he’s helped a number of purchasers score a good deal on a brand-new house the builders constructed without specific buyers in mind. This is known as a “spec” property.

Though many such homes have already been snatched up by eager buyers, there are always a few available for those who hunt them down.

“Seek out builders who still have several spec houses in their developments. They need to sell these homes to pay off the bank for their construction loans. Their urgency could result in a fair deal for you,” Early says.

-- Accept the current limitations for bargain shopping.

Early says there’s no shame in offering list price or slightly more in a hot area, assuming you’ve done your homework and are convinced you’re not paying more than a few thousand dollars over true market value.

“You can’t let emotion cloud your judgment. But if you’ve found a house you dearly love, years from now you won’t regret that you ran that extra mile to make it your own,” Early says.

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

Many renters are now eager to escape urban apartments in favor of suburbia. One factor is the quest for more space, especially among those working remotely or schooling their kids from home due to COVID-19. Another is that mortgage rates are hovering near historic lows.

The result is that in popular neighborhoods where listings are in short supply, properties are flying off the market. That’s making owners more self-confident. But real estate specialists caution sellers about the perils of pricing too high.

Mary Bazargan, a listing agent in Washington, D.C., explains why it’s foolish for sellers to price too boldly -- even where inventory is low and houses are selling quickly.

“When we price a new listing conservatively, we’re getting multiple offers, and these homes are often selling above list price. But if we push the price aggressively high, the home tends to sit on the market for a while,” says Bazargan, who works for Redfin, a national real estate brokerage.

Eric Tyson, a personal finance expert, agrees that those who attempt to test the market with too high a price typically attract fewer prospects.

“Buyers who shop with an agent usually shop with a top pricing point in mind. They won’t see properties above that pricing ceiling,” says Tyson, the co-author of “House Selling for Dummies.”

Moreover, due to internet sleuthing, buyers are increasingly savvy about property valuations. Many are annoyed by the appearance of greed on the part of sellers and refuse to bargain with those who ask too much.

“Remember that Americans don’t like to haggle. So don’t count on buyers engaging with you in multiple rounds of negotiation,” Tyson says.

Here are a few other pointers for sellers:

-- Research local valuations before hiring an agent.

Sid Davis, a Utah-based real estate broker, notes there are now a number of websites that offer free and instantaneous assessments of home values. Among the best known are Zillow and Redfin.

But it's unrealistic to look to such “fast pricing” sites for a definitive answer on the current worth of your place. After all, they typically rely heavily on publicly available data on recent home transactions. And some jurisdictions restrict or delay the release of such statistics. Still, such sites can sometimes give you a fair estimate.

“At least they’ll help you get into the right ballpark on the current value of your house. This gives you a starting point for a pricing discussion with the agents you interview,” says Davis, the author of “A Survival Guide to Selling a Home.”

Another way to gain a feel for prevailing prices is to attend open houses.

“In 15 minutes, you can visit two or three nearby open houses -- if only virtually -- and get a sense of pricing realities in your neighborhood. You can also get a preliminary comparison on the condition of your home versus rival properties,” Davis says.

-- Talk to multiple agents before choosing one.

When planning to sell, many owners instinctively turn to a friend or relative in the real estate field. But Tyson cautions against hiring someone from your inner circle, even if that person is an active agent in your neighborhood.

“We all want to hear how wonderful our house is and how much it’s worth. That makes it very hard for your friend or relative to recommend a realistic price tag,” Tyson says.

Interview at least three agents working in their area, and don’t pick one who relies on hunches.

“Ask each agent for an honest evaluation of both the condition of your place and its present value. Make sure each agent shows you the comparable sales they used to make their price recommendation,” Tyson says.

To determine if an agent is truly active in your neighborhood, he suggests you ask for an “activity list” of all the properties the person has listed there during the prior six to 12 months.

-- Examine each agent’s track record on pricing.

Even now, many sellers don’t receive their full asking price at the closing table. But if their property was marked accurately from the outset, they should come fairly close.

“Nobody wants to suffer huge price reductions because they asked way too much at the beginning,” Davis says.

To assess an agent’s pricing recommendations, look at a few key numbers that reflect his or her track record. If the agent is routinely making accurate price recommendations, there should be relatively little disparity between the original list price and the final closing price.

“Sellers shouldn’t have to knock down their price just to get their property sold. In most cases, their home should sell for no less than 5% under the asking price,” Davis says.

He suggests you ask prospective listing agents to show you “list-to-sale” numbers for all the homes they’ve sold during the last 90 days.

-- Don’t let your pride get in the way of accurate pricing.

Some people assume listing agents are motivated to price low with an eye to quick sales. But Davis says the greater risk is that occasional agents will recommend too high a price in hopes of flattering you into working with them.

“This practice is known in the real estate field as ‘buying a listing,'” he says.

Overpricing can even hurt owners in an area with few homes on the market.

“It doesn’t matter if you’re selling in a neighborhood that’s hot, cold or lukewarm. Asking way too much can easily kill your chances for a fast and successful sale,” Davis says.

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

COVID-19 has led to a surge in demand for suburban houses from those living in cramped urban apartments. Among the lures: extra work-at-home space and a backyard big enough for a barbecue. But many who own such suburban properties are reluctant to sell. The result? A monumental shortage of supply.

“Housing demand is robust, but supply is not, and this imbalance will inevitably harm affordability and hinder ownership opportunities,” says Lawrence Yun, chief economist for the National Association of Realtors (realtor.org).

The worsening shortage has meant ascending prices and more competition among rival buyers in many suburban areas. First-time buyers are especially frustrated in multiple bidding situations.

One potential solution for buyers is to consider a property that’s served as a rental unit.

“There’s a big stigma attached to any house renters have been occupying. That causes lots of folks to automatically reject such a place without good cause,” says Mark Nash, a real estate industry analyst.

Granted, some tenants can be rough on a place they’re leasing -- given they have less at stake in home upkeep than do owner-occupants. Yet some issues -- like soiled carpets or blemished walls -- can be merely cosmetic and easily remedied.

“A formerly rented house could be a true diamond in the rough you might obtain for a fair price despite the crush of demand,” says Nash, the author of “1001 Tips for Buying and Selling a Home.”

But Fred Meyer, a longtime real estate broker and appraiser, cautions those considering a once-rented property to thoroughly investigate the place to ensure it doesn’t have any severe structural problems, such as a sinking foundation or a leaky roof.

Most landlords wait until their tenants leave to put their property on the market. But if a place you’re considering is still occupied by tenants, Meyer suggests you ask them about any issues.

“The tenants may be disgruntled if they’re forced to move against their will. But they have no incentive to gloss over problems with the house,” Meyer says.

What typically prompts the sale of a rental unit? Sid Davis, the author of “A Survival Guide for Buying a Home,” says many landlords eventually tire of their tenants’ demands.

Of course, some landlords hire a management company to look after their rental unit. But that can be costly and doesn’t necessarily protect them from tenant abuses.

“With or without a manager, many owners eventually want to free themselves of their white elephant to simplify their lives,” says Davis, an independent real estate broker.

Here are a few pointers for buyers pondering a rental:

-- Make doubly sure to get an in-depth home inspection.

Though many rental properties are overseen by professional managers, they rarely receive the same level of attention as owner-occupied properties. That’s why it’s critical to make any offer contingent on a satisfactory home inspection.

To locate a highly qualified home inspector, Davis recommends you ask your agent for the names of at least 10 candidates. Then interview three by phone to determine the best one. Another source for referrals is the American Society of Home Inspectors (homeinspector.org).

Avoid choosing an inspector who’s also in the home improvement business.

“That represents a major conflict of interest, especially if the guy presses you to hire him for repairs,” Davis says.

-- Seek cost estimates for all the repairs you’ll need.

Davis once owned six rental houses. This taught him that tenants often fail to tell their landlord about problems unless they become serious.

“Perhaps the dishwasher has malfunctioned for many months. But the landlord never heard about the problem until a home inspector finds that the dishwasher leaks and must be replaced, along with the subflooring beneath,” he says.

Davis says the prospective buyers of a rental property should determine in advance how much needed repairs will cost. He recommends they get estimates for all the repairs on the inspector’s list before finalizing their bid. Then they should make sure these expenses are factored into the price they negotiate.

-- Don’t let a good deal blind you to a weak location.

In many popular neighborhoods, buyers now greatly outnumber sellers. Yet even now, few purchasers prowling the market are willing to consider a rental, says Ashley Richardson, an agent affiliated with the Residential Real Estate Council (crs.com).

“These days, most buyers only want a house in pristine condition -- one babied by its owners. Very few people will take a ‘fixer’ because of all the hassles that might bring. That means you’ll have fewer competitors in pursuit of a fair deal,” says Richardson, who sells homes through the Long & Foster real estate firm.

You could get a doubly favorable deal if you find an only superficially problematic house in an excellent neighborhood -- like one with manicured yards and well-rated neighborhood schools.

“As with all real estate, location should overtake every other priority when making your decision,” Richardson says.

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