Jfire

Im not a realtor but I live fairly close to your area (south burbs of CHI). Offer what you feel is appropriate. I sold my house 4 months ago with a invested cost of 315 at 229. IMO there are a TON of homes in our market as a whole that are banked owned. MORE are coming. I'm sitting on the side lines waiting to put down half or more on our next home. IMO a proffesional isn't always the best advice right now due to the fact that I used a 25 year vet with a huge agency and they couldn't even tell me what the "current" market is doing on a day to day basis. If you don't get this home there are thousands out there that will suit your needs. Banks may not like your offer but your in the driver seat with great amounts of liquidity at hand. IL and IN have been hit hard by the current recesion. Wether the banks dislike yours and others offers right now is a moot point. Eventually there going to have to get rid of these millions of toxic assests and get back to making money. I recently found a dream home for us right now that was a builder new from 08 and listed at 909,000 with the bank taking offers at 415 and still no one is buyning this property at the 90 day mark. There are very few in your position right now IMO make the most of it.
Justin