+1 A lot of the time a bike is sold cheap because someone believes that they will sell it no-hassles at that price (or they're consciously being generous, or simply happen to be clueless). A lot of folks will try to negotiate, even lowball a seller in this situation - looks like the 'no-hassles' version and a response to those lowballers is what's happening here with the update on the ad described. Didn't the seller mention it being her dad's?

As Thrifty Bill suggests, I wouldn't be too concerned with why it's cheap - I would politely state my intentions to the seller (more than happy to pay asking price, assuming it passes my inspection) and haul a$$ to where it's at to make sure nothing is obviously terribly broken or in excessive disrepair (and that I'm not getting the 'stolen' vibe, which has turned me off at least one acquisition in Vancouver). That Specialized is a deal, but quite likely someone else's deal by now. Maybe not, but second-guessing makes that a more likely scenario, and then you'll never know either way, right?