It doesn't matter what type of property you are seeking. All that matters is if you really want a certain property then you should make a REASONABLE offer and have your financial goals in mind. Your Real Estate Professional should help you determine these aspects but ultimately you are the one that must make the decision.

Any buyer should request a list of what properties have recently sold that compare to the property you are considering purchasing. Based on this information, a buyer is more educated as to what the market will bear and what offer to make. There are many more condos for sale now so the condo market is very slow. But it is a great time to purchase that beachfront condo while the inventory is up and the prices are down.

You should always offer less but it very important to have an agent that does not just make up numbers. Some research should be done in order to help pick your price. One thing to think of is the 10% rule. Anything normally 10-15% is in the game for a starting bid. It does not mean you will get it but you may get a good deal and it will not insult the seller.