There is no one sized fits all answer to your question. Your offer should be based on the value of the home. Nobody here cannot respectfully give you an answer because we do not know the home's condition or even if its priced right. What you need is a buyer's agent who will review recent home sales along with choices that's currently on the market with you. If you do not have an agent I'd be happy to assist you. However I do highly suggest you have someone represent your interests. A home purchase transaction is all too important, especially in today's market.
You are at a very critical stage of home buying right now. Reasearch is vital. It's important that your Realtor do their homework on your behaf. If you do not have a Realtor, contact me, I will do the work for you!
there are just way too many variables to answer the question. Your local market is going to dictate that. BTW, dont listen to the media. Here in Missouri, they have the story all wrong.
If the listing agent was smart and the sellers serious, it would be priced right.