Buying a home can be a daunting task, whether you're a first-time home buyer or someone who's gone through the process multiple times. The best thing to do in either case is to connect with a neighborhood expert who can guide you through the often-complicated procedure. Do you have a plan for getting a loan to buy your new home? Meet with a mortgage broker or visit your bank and take care of the mortgage pre-approval before you start looking for your next home. Make sure you have a proper home inspection done as well. You don't want to discover surprises after you've taken ownership of the home.
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Price Reductions

If your home languishes on the market, consider reducing your asking price. Such reductions are becoming increasingly common in today’s tough market. About 30% of the homes sold in 2008 went through at least one price reduction. Price reductions have touched the entire real estate spectrum; from ritzy homes in gated communities to distressed properties.

You can now use price reductions as a search filter on the real estate search site trulia.com. This tool can help you find reduced-priced homes in the real estate market that’s of interest to you.