My wife & I are preparing to make an offer on a property in San Juan. Since this is a buyer's market (due to the economic situation) we plan to offer under asking price; however without MLS it is a bit difficult to figure out what the correct offer/asking ratio is. Can anyone comment on this based on their own experience? We are a bit reluctant to ask our real estate agent since he benefits financially if we pay too much. Most of my Puerto Rican friends that own their homes bought several years ago when the market was stronger. Comments welcome!