Help! What am I missing?

[Wes Brumit]

I've made several offers using the 75% ARV formula, less repairs and profit and get basically laughed at. Example, house I'm looking at needs roughly $30k in repairs to bring it up to date. Comps around it suggest an ARV of $60 sft. In order to sell quickly I priced at $55. I know what the owners paid for the home, though I don't disclose that, they are asking 115k, my first offer was $74k. They have 100% equity in the home, live out of state and have come down from a high of 152k. This was almost three years ago and it's just been sitting there. They are using an agent would could be getting in the way, I don't know. Any suggestions would be appreciated.