Trying to offer on US Bank Owned

[Kathy Judd]

A property in a nicer community in town come on the MLS about 10 days ago. The property needs some TLC but it's backed to a river. Owned by US Bank and listed at $350k. There is an immaculate property on the same street that backs up to a big pond for $415 so my property must be over priced.

I want to make an offer of $260k as my primary residence. My agent talked to the listing agent which told him to not bother submitting the offer because the bank wouldn't even counter on an offer that low.

Read some where that the banks are obligated to community revitalization because of the bail out. Would that increase my chances because I want to move into the property.

I'm just wondering if I should keep pursing this. Anyone have any experience with US Bank?