Seller has unrealistic expectations

[Stephen Nicholson]

My recent yellow letter campaign has gotten off to a great start, however I have one lead that I am struggling to deal with...

The property is in decent shape, could use perhaps $5-7k in tidy up work, but could probably scrape by as-is for a rental. The problem is the owner wants double the ARV for the property. His is one of the nicer homes in the neighborhood, the average comps are around $120-130k but this homeowner is insistent that he will not take a penny under $250,000.

At first I assumed this was someone annoyed at getting direct mail and was just trying to waste my time, however after talking to him he is completely serious. He really seems to want to sell, but I cant get him off of this figure. 

I dont want to just say we cant make a deal and walk away, however I cannot think of what else I can do in this situation. Any ideas?