8 home-buying tips for 2012

CBS/AP

The housing depression has produced roughly 5 million foreclosures and short sales on underwater properties, and wiped out more than $7 trillion in homeowners' equity. But real estate agents say 2012 is the turn-around year. Activity is increasing as motivated sellers are sensing that the time to purchase homes is now, meanwhile eager buyers want to cash in on homes with low mortgages before rates head higher. And with experts predicting the housing market will bottom out this year, the buyers are coming out of hibernation.

If you're ready to jump into the housing market, these tips can help you find a home that's right for you, your family and your wallet.

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clarksone says:: I've been looking for a home for sale in <a href="http://www.cathymeder.com/Marietta.php">Marietta, Georgia</a> and I am really grateful for all these tips. I am a first time buyer and I wasn't sure how to go about it, and this article really helped. I had no idea you could actually get pre-approved for a mortgage. Do you have any recommendations for agents in the Marietta, Georgia area? Thanks again.; reply