Right now, the bottom tier of the housing market is heating up. Low-cost homes are selling faster as the housing market stabilizes and as people look for good deals. This is also the segment of the housing market popular with investors, so it can be difficult to compete if you are looking for a good deal. And the key, if you are looking at the bottom of the housing market, is to move fast. CNN Money reports on what buyers need to do to land a deal:

See homes the first day they’re listed, and if there’s one you want, submit an offer immediately, says Phoenix realtor Susan Ramsey. Don’t expect a deep discount; prices for lower-end homes are stabilizing. Put down 20% or more, if you can, to compete with cash-rich investors. Offer not accepted? Check in with the seller’s agent a few more times; many deals fall through.

First time home buyers in a good position are the most likely to benefit, since they also have an $8,000 tax credit they can use. The good news is that this $8,000 credit is immediate, and can be used as part of your down payment. Look around for state programs as well, since you could get even more money to help you out.