Realistic Offer for A House

[Tou Yang]

As noted in the description and title, I am interested in buying a 1985, 3 bedroom, 3 bathroom 2,965sq ft brick house on 1.20 acres. 1 acre in the city limits runs around $15-25K as there is a small 1 acre lot left. It appears to be in very good condition and it is in a small city of 11,000 people. They are asking $279,900, reduced a month ago from $283,000. Right now where we are at, it's a sellers market and most houses sell within 20 days; this house has been listed for 68 days. The sellers have also told our buyers agent that they are "motivated sellers". My question is, what offer would be appropriate? My buyer's agent said to offer $260K, I was thinking more along the lines of $250K as I know we will work our way up toward $260-$270. Also, 250K is roughly an offer of 10.7% lower than the original asking price of $283K. I don't think 10% is an absurdly low-ball figure but with the property being on for 68 days without a single offer, I think it is a fair offer/starting point. I'm hoping to get it for $260K