As Don says, no way to know without the address. It could be priced way over market, at market or far below market (and be a steal.) Only comparable sales will be able to help you. Also, just becuase a home has been listed for 746 days doesn't mean that the home is overpriced currently. Owner could just have reduced the price from $2,000,000 to the current $1,269,000.
Even though it is a buyers market, and certian websites and books claim you should offer 20% below asking no matter what, buyers have to be realistic when making offers.
As knowledge is power, have your real estate agent provide you with property history and comparable sales in the area. If you do not work with an agent, you should find one ASAP - without one you will probably end up paying more than you otherwise would.
Both Don and myself will of course be happy to help you if you don't currently have an agent...