The price you are willing to pay for a house might sometimes just come down to the facts, figures and logic of the market.

Similar houses sold for $420K, $425K and $430K?  Then, it's probably reasonably to pay between $420K and $430K.  If you can get the house for $415K, great!  If you have to pay $435K, that's not the end of the world.

But... sometimes more than facts, figures and logic are at play.

If you happen upon the perfect house... exactly what you're looking for... everything that you hoped for... but the seller is stuck on selling it at a price that comparable sales don't support... what will you do?

The comps say $420K to $430K.  The seller wants to sell for $460K and in the end will only come down to $450K.

If the house is that perfect for you, and perhaps much more perfect than any of the other houses we have explored... then you might (reasonably) be willing to pay the seller's price ($450K) even if it is not a price supported by recent comparable sales.