I think I just answered this same question asked a different way also from you.
Just to throw out an answer without knowing where you are talking about I would say that offering 15 to 20% of the asking price on a well priced place would be an insult and would probably not even get you a counter offer!
Of course I don't know why it has been on the market 5 months, but that is not unusually long for some price ranges and some houses that are more unique. Some of the lower priced places right now are going fast and with multiple offers due to the first time home buyers program. These would be going at amounts over asking price.
This is a pretty basic question I wonder why you aren't discussing with your agent! - Sun Aug 23 2009, 16:42