Jeff, Bottom line, pay no attention to the List Price of a home. That is simply a starting point suggested by the seller. In some cases, the home may be overpriced for the market by 100 percent.
There were 88 homes sold in Ferndale during the past 90 days from $10,000 to $230,000. This would include 2, 3, 4 or more bedrooms, 1 or more stories, with and without a basement or garage, (the list goes on) The average for all types and styles of homes was
List Price $84,077 Sale Price $78,173
In Michigan, only a buyers agent can reprisent your interests and negotiate to get you the best price and terms for any home. (that does not mean it will be your price and your terms)
If you would like additional information, simply contact me through Trulia. I will walk you through some choices and can suggest some local agents to work with.