Arseli,
There is no magic formula about how much to offer on a house. Your Realtor should do a market analysis on the house and then you decide what it's worth to you and make an offer accordingly.

Many homes are selling full price. I showed a home last night that was on the market just 1 days. When I submitted the offer today, the listing agent told me she already had 7 offers!!!!! We resubmitted another offer ABOVE asking price.

Naima
214-289-8555
Naima@Sumner-realty.com

Arseli,

This is an open-ended question that requires additional information before you can get a worthwhile response. Where is the property located in Lubbock? Is it in a good school district? Is it in a sought after community? Is it a distressed property (short sale / foreclosure)? Are there other distressed properties in the immediate area? What kind of condition is the house in?

If you are working with an Agent, what is their advice?