Delusional House Pricing

A couple in my neighborhood bought a house 16 months ago for 585. They put about 130 into renovating it and just recently put it on the market for... 975! After a few weeks they lowered this to 925 (looking for bargain hunters I guess). I wonder if they'll find anyone stupid enough to pay anywhere near their asking price. If so, I'll likely put my place on the market to see if there's more than one sucker out there. I suspect they'd struggle to sell it at 715.  It's a row house on a nice block.  The previous high-water mark for the entire block was, yes, when they paid 585 for their house less than a year and a half ago. There really are no buyers out there. Market's still trending downward and likely is not at bottom. Anyway, folks, good luck with that!