Haggis, you made an interesting comment. Only when I moved to the US did I hear about 30-year loans. In France, the standard is 15 or 20 years. I do not know anyone who has a 30-year mortgage in France. Since I moved here, I bought 2 properties, 1 in FL with a 30-year mortgage, sold it when I moved to NYC, and a second one in NYC with 5-year fixed and 25-year adjustable, just sold when I recently moved to San Diego.
My point is that I was never offered a 15-year mortgage when inquiring about loans, I had to ask to get the information. People just assume that you will get a 30-year mortgage. This was probably necessary when housing was overvalued in the recent years, but I think a fair price should consider the payment on a 15 or 20-year mortgage, not a 30-year one.