The answer is YES!!! Banks are negotiating, and the fact that the home has not sold in more than 3 months is motivation for them to negotiate with you. You have to understand that every day that a lender holds on to a home cost the institution money. These cost are called carry over cost and can run quite high at times. So, 90 days into their marketing efforts, the will gladly look at a reasonable offer and I would encourage you do make that offer if this home meets your needs and fits within your budget.
Happy Home Hunting