Talk to the realtor and find out more. See if they can send you comps. How long has the house been on the market? In this area, deals like that do come around, but they are usually under contract in 3 days or less. There might be something wrong and it could be a cash only deal, which could work out great. It could be a hud home that is only open to owner occupied folks for a certain amount of time... it might even already be under contract.
You definitely want to learn more about the history and see what is going on. If you're in Colorado, I can look it up for you. If not, a good realtor should be able to find out all the history and let you know what is going on.
On the other hand, if it is a good value, don't wait too long!! Like I said, here in Longmont, good deals go really fast and you have to get your offer in quickly to be considered.