Analyzing Comps before selling

[Account Closed]

Hello everyone,

I plan to sell my home sometime next year and I'm pretty confident that it will sell quickly. I know there are many homes in my neighborhood that have similar characteristics as mine for example, sqft, single story and build year.

At the moment there is a home across the street that is getting a complete remodel including a new roof but it is not going on the market.

My question is, how are increased value assessed on a property if it doesn't go to market?

[Anson Young]

Originally posted by @Account Closed:

My question is, how are increased value assessed on a property if it doesn't go to market?

 Short answer: it dosnt.  There is no method to update the valuation without a sale.  Appraisers only look at comparables, which are sold properties.  That neighbor fixing up their property and NOT selling will have ZERO impact on your sale next summer.

IF your neighbor got an updated appraisal, and you gave it to your appraiser to please consider, you might get a slight boost, but not sure if appraisers would even look at that information.