John Izzo, ABR, CRS, REALTOR
TOP LISTING ASSOCIATE
EXCELLENCE IN CUSTOMER SERVICE
Sales Consultant and Shoreline Specialist
William Raveis Real Estate
Recipient - Connecticut Magazine's 2012, 2013 Five Star Real Estate Agents Award
Further, you don't say when the asking price was reduced to $359,000. Nor do you say what the comps are. If the comps are $325,000, make an offer below that. If the comps are around $360,000 and the price was just reduced, maybe you make an offer near that price. If the price was reduced to $359,000 more than 2 months ago, it's still overpriced.
Here's what you do: Have your Realtor prepare a CMA on the property. Make an offer below that figure. In no case agree on any number above the CMA.
Ask your Realtor about market trends in your area. In lots of areas, prices have been going up for 6-12 months. You can tweak your offer slightly, based on that. But don't try to precisely time the market. If you want a place to live, if you like Castle Rock, if you can comfortably afford it, and if you're planning on staying there 5+ years, then make an offer at or below the CMA number.
Hope that helps.