Will Prices Continue to Fall In Milpitas?

Here's a funny Meebo-IM chat I had with a home buyer yesterday. This guy is looking for a negotiating angle with home sellers. Smart!

[15:37] meeboguest: hi

[15:37] mikesimonsen: hi

[15:38] meeboguest: will prices in Milpitas Area continue to fall?

[15:38] mikesimonsen:

[15:39] meeboguest: seriously....how do I negotiate with seller to factor another 10% reduction in price?

[15:40] mikesimonsen: well, you can bring our Milpitas report with you and use it to illustrate not only prices, but demand levels and days on market trends

[15:41] mikesimonsen: you can say, "Look at this, you've got easily another few months before this thing moves and I'm willing to buy now!"

[15:41] mikesimonsen: In the reports it even breaks up the data by price range in that zip code

[15:42] mikesimonsen: so you can say, "The market is even worse for sellers of homes like this. So you're lucky you found me!"

[15:42] meeboguest: thanks...I am even luckier if that report is free

[15:43] mikesimonsen: for $19 you're getting a bargain!

[15:43] mikesimonsen: I'll expect a thank-you bottle of wine when you get your price

15:43] meeboguest: how do i get the report?

[15:44] mikesimonsen: go to this page, register, and buy the basic report: http://www.altosresearh.com/research/CA/MILPITAS

[15:44] meeboguest: thanx

[15:45] mikesimonsen: you bet! good luck!

What do you think the chances are that the Seller's Agent is prepared with market data to counter-negotiate? My guess is that they'll get blindsided by this aggressive buyer's approach. Maybe, just maybe, we can motivate the seller's agent to prepare better in the future...