I thought this Trulia article was very well written and contained some great advice for first time home buyers (and real estate buyers in general for that matter).

A couple quick hits on bits I liked…

- I thought the part about your acquaintances thinking they are a real estate expert when talking about your transaction was funny. The simple truth for buyers is that an experienced and trustworthy real estate broker will do everything in their power to get you the best deal possible. So when someone says "you know, you're in a better bargaining position than that," just remember they have absolutely no idea about the parameters of your transaction and negotiation efforts. If you don't trust your broker has the experience or isn't providing the insight needed to maximize your negotiations, then do yourself a favor and find a new one. The same can be said for a trusted mortgage professional… they'll get you the information you need to choose the best loan program available to you.

- I really appreciated the first section about considering your individual factors for owning. Specifically, it mentions real estate as a longer term investment and emphasizes analyzing family matters (life plans, child plans, job plans, etc.) first and foremost when considering buying a home. Historical appreciation will bounce back when you look at your purchase with a longer term eye, which is why making your family needs being the reason to buy or not trumps "trying to time the market."

Altogether, I admit the article is more eloquently written than this… so I recommend giving it a quick read!

- Robert E. Wasser - Seattle and Bellevue real estate news, blog, and market trends