“Negotiate and negotiate some more. In a falling market, prices are irrational. Home sellers rarely lower their price fast enough to meet falling demand in the market. Inventories become larger. There is more room to negotiate in a falling market.”
What goes up, must come down!

“You will likely pay too much if there is more than one offer. If you are informed that there are competing offers, you will have to consider a higher than asking price offer, or you might want to remove your offer. Some Realtors advise adding $5,000 over asking price for every additional player.”