I Need Money For My Remodel

A friend of mine has 2 homes in San Jose, one vacant and one he lives in. He wanted to sell the vacant one. I told him the price I thought it would sell at but he wanted more. A group of agents from the local marketing group came by and their estimate was much lower than what it was listed. Despite my suggestions and the other agent’s opinions, we just lowered the price a little, eventually he cancelled and relisted with someone else willing to list at a high price. The thing that bothers me about this situation is he’s stuck on a higher price because he wants to use his proceeds to remodel his other home. It doesn’t matter what the comparables show in that area or the likely possibility it will not appraise even if he were to get an offer higher, he’s just focused on getting a price that works out to be what the remodel cost is going to be.
Let’s be realistic, no buyer out there is going to be willing to pay more for a home than what’s comparable for that area.  Figuring what the owner needs for his remodel is not the way to establish price.