Why in the world would you take your dilemma to a public forum like Trulia without first consulting with your own buyer's agent/Realtor?
Besides that, the asking price is basically irrelevant. what matters most are the recent comparable sales.
I would HIGHLY recommend that you get in touch with YOUR agent.
Best of luck!
Just because you see on the internet that the home was listed previously for $149,900, doesn't mean a thing except that it was a previous asking price, nothing more. What does that mean? Sellers will sometimes list a home way under value if in a short sale situation to spark the interest of many buyers. Will it usually sell for a price that is substantially below market value? Typically not.
There are often times in a short sale situation where a bank will come back with a price that they approve and will be higher than the previous list price. The listing agent may have adjusted the for this reason. Another reason may be that it is now listed as a bank owned property or private sale and not a short sale, therefore a new owner and new situation commanding a different list price.
As for your inspection, consult with your agent about your situation and figure out what your course of action should be.
Your agent can access the MLS directly, and can pull up the home you are buying and get the most up-to-date information available.
By searching our ARMLS website with the property address and/or the MLS #, it will pull up the property history and current data.
What you are seeing is likely 'old' information on a website that does NOT pull from our local MLS and update the info very often. Simply 'Googling' the address of the home your're buying or the Zip code is likely to give you information that is out of date.
I've had buyers pull up old MLS #'s and prices on homes from as long ago as one year, and it often gives conflicting information versus what is actually current and up-to-date.
Hope that helps!
Century 21 All Star, REALTORS