What exactly does a 'Buyer's Market Mean’

Is it a buyer’s market? You betcha. Are there some good deals to be had in buying a house in this current market? Absolutely. If I am serious about purchasing a home should I put in an offer of a most absurd amount and hope the seller is so desperate that he will accept it?

Now the answer to that question would seem like common sense. However, that fact that I am posting about this tells you otherwise. Don't get me wrong. I am no enemy of a good bluff. That is part of the game. But fair is fair in any market and there is a thin line between negotiating and down right criminal. There is away to take advantage of this market as a buyer without trying to take advantage of the seller.  A buyer’s market doesn’t mean sellers must settle for getting ripped off.

Also keep in mind that the negotiation process of real estate goes for beyond the purchase price. You have closing cost, closing date, and items found in the inspection that need to be repaired to name a few. If you do happen to find a seller so desperate and in such a bad way as to accept a lowball offer don't expect any room to negotiate anything else.