On another line of thought, most of the country has an excess of homes for sale. If a property has been foreclosed and purchased back by the bank, the bank will list the property for the current market values, which are low. If the property does not move in a certain number of months, the bank will knock 10-20 percent off their asking price. Typically, if the property does not sell in another certain number of months the bank will again lower it's asking price.
Banks and realtors are trying to keep values up, so it can take a bit of hard-nosed dealing to come up with the bottom priced foreclosed properties, but that is where most of the great deals are. If you find one of these you want, you should still offer 20% less.
If the realtor and the bank/seller don't cry like a hungry baby at your offer, then you offered too much.
If this can help find you a yard to shoot in, then maybe you need to get more in the game.