House put on the market for £260k. After not selling for a while the market price is reduced to £250k. Looking at the history of house prices on that street the most comparable house went for £225k a year ago. In that time house prices have gone down. Appreciate there's more to the house price than what other houses have gone for. If I made an offer for £220k, would that look ridiculous? I'd be knocking over 10% off the price.
I'm a total n00b at all of this, anyone got any experience with all of this?