In todays Market there is no true rule of thumb to percentage. It does however matter on what the bottom line is for the sellers. If you like a home and it is in your capacity to purchase then by all means place an offer you are comfortable with. The worst thing the sellers can do is either say no or counter. Have a great day!! I am a local realtor and if you are in need of further assistance feel free to contace me.

I agree there is no rule to percentage. Some are priced so high you need to just walk away. Many are upside down and can't lower their price. Interview Realtors before you sign anything. Find one that is aggressive and looking out for your best interest, not theirs.
The Financial sector believes we will be back to 2000 prices, they know more than the RE sector. You might not see them for 1-3 years, but that gives you an idea of where the house will bottom. Make your decisions based on that. Some will buy now and some will wait, it depends on your circumstances.
GL

There is no rule of thumb as to any kind of percentage below asking price. If you find a house that you like and want to make an offer to purchase, then the price will depend on a couple of factors - how much do you like the house and is the house priced at market value (your REALTOR can tell you this by running comparables in the area).
By you asking for some type of percentage below asking price to make an offer you presume that all sellers increase the asking price by some percentage. This is not true. We market our clients' homes at market price and are successful in getting them sold because we have the lowest number of expired listings.
There may be some real estate agents that recommend or allow their clients to market their homes at some higher price then market price. But you can spot these with the help of your REALTOR and the CMA's that they run for you.

There is no set "percentage" below list price. It does of course, depend upon the house and your desire.

If you walk into a house and it is reasonably pruiced,make an offer and buy it. Case closed.
Have your realtor get you the comps for the area and make a descision from there.

The thought of offering a percentage under asking price already states you are going into the transaction wrong. Go see the house and do your homework on prices... there is no "percentage" gauge.

Hi Fred,

It varies so much from seller to seller and house to house. It even varies with your own motivation. If you can find many homes that satisfy you and don't care about losing any specific one, you could go ahead and make aggressive low offers on several until you achieve success. If, on the other hand, you are the emotional type and tend to "fall in love" with a property and don't want to let it go, your offer is going to have to be higher.

Examples (disclaimer: these are illustrations only, consult with your own agent for more accurate and reliable advice).

House listed last week, price seems reasonable given recent sales, you like it but don't have to have it: You might offer 8% below list, expecting to pay 2-4% below list.

House listed 6 months ago, list price is 10% above similar recent closed sales, you like it but don't have to have it. You might offer 20% below list price, expecting to pay 8-10% below list.

As you can see, it all depends on how long the property has been on the market, how much the property is really worth, how motivated you are to buy the specific house, and even how qualified you are as a buyer and how much of a down payment you have, and whether you have any contingencies in your offer.

If you would like to discuss this further, call me anytime. My number is on my website below. I do not service South Jersey directly but am always happy to discuss the concepts. Good luck in your home search!

-Marc