Making an offer on house.?

i am trying to buy my first house and am lucky enough to have a close friend works for a multi listing company... he works for a different company then who selling the house but he is still showing it to me and helping me make an offer.... the house is appraised at 48,000 and the asking price is 34,900. it is a beautiful home but in bad neighborhood and hs pretty high taxes. i offered the seller 33,500 and i wrote out a check for 500 dollars as a deposit i guess to look more serious. is that too low to where he will reject or will he jump on it? we gave him until the 21st to make a decision. thanks