It only takes one to fall in love...
I met with some folks last night who would like to sell their current home and purchase something a bit bigger for their growing family. They bought their current home in 2006 (very close to the peak of home values) and have since remodeled the kitchen and basement as well as a handful of other improvements. They answered yes when asked if they were aware of recent sale prices on the last few homes like theirs in the neighborhood. I then asked what they thought their home would sell for in todays market. Their response was a number about $100,000 higher than I anticpated. We then proceeded to review the sales data from the recently sold properties nearby and then I asked again, now that you truly know this sales data from similar homes that have sold recently, what do you think a buyer will be likely to pay for your home? Their reply - "it only takes one buyer to fall in love with this home so I still think we can get close to $xxx."
It is wonderful to love your home so much that you really believe it is worth more than all of the others - we are human after all. After being a Realtor for over 20 years, I have yet to meet someone who falls in love so completely that they are willing to pay more than market value. The buyers are human after all as well.