How low should your first offer on a home be in this economy and with no competition?I am a first time home buyer and I found a house that I really want. It is a new construction that has been on the market for almost two years and the price has been reduced a few times (the last being about three months ago). No houses have sold in that area in the last two years and the house right next door recently went up for sale for $175. The house that I want (the new construction) is going for $215. What should I ask for this house? I dont feel comfortable spending more than $205 for this or any house... Is $205 resonable? If the seller does not want to go as low as $205 what should I do? Thank you in advance for all and any advice!February 08 2011 - Conover00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.