If you want, you can always make another offer. Be careful, though, not to come in higher than the appraisal's likely to be. If the comps are in the range you described for better houses, it'd be unlikely for an appraisal to come in at, say, $295,000. So, go up if you want. Just be careful.
Your Realtor can provide more advice.
Hope that helps.
William Raveis Real Estate
My recommendation is use an agent who sells at least 20 homes in the area a year. They will know what to show you and what prices are fair asking offers.
Are you trying to make the pendulum swing all the way back?
Do you think that the Seller will actually respond?
When the Seller receives enought $275 offers, they will either get reasonable, or they won't.
In the meantime, you should be looking for another house.
You had your opinion of value and the Sellers had thiers. When you make an offer that's basically 60 cents on the dollar why are you surprised you got no response. It's possible the Seller's price is ridiculous, but if that's the case and you know this, then why would you be surprised at the response (or lack there of) that you received.
If you really want this property and it's unique which you've suggested it is because of having five bedrooms, then you need to be prepared to neogtiate. Negotiation is neither side getting what they want, with both sides giving and hopefully at the end of the day being able to honestly say, "I didn't get everything I wanted, neither did they, but it's fair and I can live with it." Throwing out a low ball offer in an aggresive manner is not likely to get a negotiation going. Perhaps a more nuanced approach would bear better results.
What is odd about this area of town is the average intial listing price is 440k and the average final sale price is 265k. With most homes being on the market over a year. Only in this one area of town tho, not even the most desierable place in town,
What would make a whole section of a town go so high when trying to sell their homes? This home was bought 14 years ago for 150k so they werent losing money, they had nothing invested in the home except for a water heater (admitted by their agent)
At this point I am just curious.