I don't think the price is bad at all, I think guys are just scared of the rust, I don't see it as a difficult repair job, the rear area could be found at most junk yard, off of an old monte, or oldsmobile or of course a buick, have the junkyard plasma cut the rear area you need, have the area welded on and the rest is pretty easy, It looks alot worse than what it is, I feel for $6500 or so, you put in $3-to $4k and that can be a great looking car and you get a car with some nice mods already added so you kind of save a little there.
if this car was in perfect shape it would be in the $12k area, it's definetly a nice investment and in the end, our cars are worth it. I would'nt mind helping someone fix-it up, ( if someone down here bought it.)
here's a couple of pics of mine, which had rust spots as well but with some hard work she's definetly worth it, as will the T. lets not be afraid some hard work guys, it makes you feel even more prouder when you win that trophy
well good luck with the sale, it is a nice T, with alot of potential.