If the property you are considering has been on the market from some time with no price reduction then you structure your offer accordingly.
We usually say if a property is listing within 5% of what it should sell for you will have that offer within the first 30 days. A properly priced and marketed property will sell almost immediately.
The input you've gotten so far is good. Another thing to factor in is, how much do you want the home? Some people in this market are thinking they can come in really low and have lost the property they really wanted because of it. You risk offending the owners to the point of them not wanting to even consider your offer and you risk having someone else come in higher
Look at recent comps, inventory status, recent activity, competitive properties, absorption rates, and determine the price that makes sense. If that price is 5% below ask, and you secure a contract and wonderful home, then you made the right decision. It might be ask, it might be 15% below ask, or even more.
The first thing to check is the area comps. Asking 10% off a home that is priced 15% too high still means you are paying too much. Depending on what the comps show, if the price is fair what I like to do is ask for about twice the "typical" reduction in your area. In my area list price to sales price is usually a 3% difference. If I ask for a 6% reduction I can determine how flexible they are without (usually) insulting them. I have found that to be an excellent method in my area.
Talk to your agent and determine what the typical reduction is....
RE/MAX Bryan-College Station