Specific to south Louisiana, you do want to recognize that home prices here did not inflate at the same level as other parts of the country and so foreclosures have not exploded for our market -particularly east Ascension Parish- and home values have not imploded, in any way, to the same degree as elsewhere.
IT IS A BUYER'S MARKET HERE, but the advantage to the buyer is increased selection moreso than double-digit percentage decreases in price.
That said, there are deals out there. Sellers who have unique pressures personal to their situation for example.
Keep in mind, too,. that your REALTOR® can help you research days on market for a particular home or property and should be able to provide last sold price and other information in addition to recent comparable sales in the vicinity of this home. Good pricing negotiators take advantage of every resource to position themselves as able to know a little mnore than the orther party may expect!
I would disagree somewhat that the purchase of an existing "home" is strictly a business transaction. Sellers who have raised a family in a house and invested the proverbial "blood, sweat and tears" in home ownership can be emotional about selling. I belive buyers have to keep that in mind as well when preparing an offer. You should never pay more than a property is worth based on the facts, but you can harm your negotiating postion when a seller feels you are not serious or, worse yet, looking to take advantage of him or her. You were just in that position of selling and can certainly empathize.
Hope this helps and if I can be of further assistance, never hesitate to use my web site (help yourself 24/7) linked below or call or email me in our Gonzales office.
- Randy Anderson

I understand you wanting to get a good price on your new home. I think you need to look at the overall picture. Has your agent shown you the sold home statistics that match the home you are trying to buy. Your agent should let you know a price range that the home should reasonably sell for. As you have looked at homes you have been educated on value also. So with both factors combined, the comps your agent has shown you and your sense of value, did you offer low? I understand you are a serious buyer, since your house is sold. I think you started off a bit low, depending on the condition of the home, however it could be warrented. If the house is fairly valued at listing price, are you willing to come up? Have you checked to see if the seller has had any price reductions. Perhaps they were over priced in the beginning and are reasonabl priced now. Good Luck.

You are trying to maximize your investment. Always bid what works for you first. Do not be concerned with how the buyer feels...that is beyond your control....the worst they can say as they say in French is "no"...then you offer again.

What would help you is to have a buyers agent who has the ACTUAL solds report of comparable properties so your asking bid has backup hard numbers that justify that bid price. If your buyers agent has not done this yet, find yourself one who can, and one who can generate every single detail possible for this and similar properties....it will take the doubt out of your offer and help you stand firm for what you want...at a price that works for you.

It definitely never hurts to put in a low offer because you never know what the seller's motivation is. I agree with Scott's post that the seller probably owes more than what they are asking and can't go any lower (unless they are trying to short sale it). You should ask your realtor to research how much they paid for the home and how much they mortgaged.

I have heard many people talk about insulting the sellers. This is not personal it is a business transaction your offer should be based on what the home is worth and you ability to pay. Ability to pay being most important If you can't afford payments on a 169,000 house then you must make a lower offer. PS I have always gone in low and negotiated hard.

In many cases a home as been on the market that long because the seller can not go any lower, they owe at ormore than they are asking. You should do a title search and can find what he paid and what he currently owes to gte a better idea. On average most people offer 10% lower than an asking price. The factor is whether the seller can entertain a lower offer. you should have your buyer broker talk to the listing broker, have him ask straight up, why has it been on the market so long and if any offers have been made and rejected and why. Most agents will talk to other agents where as if you ask them direct they may not offer them. Good luck with your offer.