Believe it or not, that is probably the question I get asked most seconded by "How much did they pay for it?"

These are very silly questions and if you are using them "STOP" - RIGHT NOW!

Why? First, lets take a look at "How long has it been listed for?".  Unless you have the full story on the listing, you may reach a false conclusion.  Even though the listing may be on the market for 120 days you're not getting the whole picture. 

There may be a whole positive history you're overlooking.  For example, say the house was originally listed for $229,000.  A month later it was reduced to $219,000.  Then perhaps there was a "stop work" put on for 2 weeks while a new roof was installed.  With still no sale, the sellers drop it to $209,000.  A month later, the sellers are really anxious to sell and decide to include all their appliances and refinish the floors.  They also get a home inspection and repair the deficiencies.  Now, its of much different value then when it came on the market!

Honestly, the listing could expire or be canceled and come back on the market with a new Realtor, appear as a "Hot New Listing" and sell very rapidly! So, don't let a great property pass you by, by asking "How long?"! View it the same as any other property on the market, compare it closely to the competition and remember....it just may be tremendous value!