How much below asking price

[Amber C.]

I came across a vacant land (raw land, seasonal access, no hydro, no well). We want to buy it and build a vacation home.

Listing price is $250,000. It has been ok market for 500 days.

Owner bought this land for $200,000 ten years ago. They definitely overpaid for the land.

A similar land nearby, better condition actually (all season road access, cleared land), is recently sold for $100,000.

We think the fair value of the land is $150,000. A land next to it is asking $320,000 but it has 5 building lot, they want to sell to developer.

Can someone with experience show me what’s the best way to negotiate?