Everyone keeps talking about we are in a buyer's market. However, you would think that would embolden buyers to make offers below asking price, maybe even well below asking price. That doesn't seem to be happening. I see buyer's that only seem to be making up their minds after properties they were more interested in go under contract. Or, and this one I have seen happen more than once lately, rushing in to make the offer after the seller's gave up and were in the process of withdrawing the listing.
These buyer's were clearly watching the house they were interested in but rather than coming in with an offer, they sat on the sidelines waiting to see if the seller was dropping the price or maybe hoping something they liked even better would come on the market. Then the seller's depending on their circumstances either decides to stay put or rents the property.
It doesn't seem to me to be making use of a "buyer's market" environment. If I were home shopping for myself, I would be picking my favorites and throw out offers and see which one stuck. Not every seller is distressed and on the brink of foreclosure. Not every seller has used their home as an ATM for the past 5 years. And not every seller is seeking to cash out. There are sellers out there that have room to deal and would do so because of job opportunities in another community or changes in family needs (up-sizing or downsizing).
Seller's had it good for a few years with multiple offers and sometimes bidding wars. Buyer's seem a lot more timid in comparison when the market is clearly in their favor. The days of treating your home as if it were a stock investment are over. Those who speculated and guessed wrong on the seller's side seem to be learning that that lesson. Unfortunately, there are prospective buyer's out there that 
haven't come to terms with that changed reality. Or maybe it is agents that are unwilling to present low offers.
It use to be you bought your home because you liked the neighborhood, the schools, the commute to the office and other factors that made the location desirable to your lifestyle needs. Yes for most of us it is our largest investment, but it has never been the best performing investment...it has been our home and refuge at the end of the day.
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