What do you do when you own Comp #1 of some other property?

[Chris Mason]

Hi,

Home for sale about 2 blocks from a property that I own.

I purchased the one I own about 4 months ago, and they were 100% cookie-cutter identical homes when built - almost certainly even the same construction workers built both, not just the same identical floor plan and company and architect and design. 

So my home will be Comp #1 for that appraisal with about 98% certainty. There are no other "model match" homes that have since sold since I purchased the one that I own. 

That other one is listed for $100k more than I got mine for. I'd LOVE IT if that one actually sold for list price or higher, because that would in turn be MY comp #1 during a refi, allowing me to free up some capital. That one is upgraded and maintained, but mine was not when purchased. Now, the one I own is in BETTER shape than that one listed for $100k more, and I spent a LOT less than $100k to get this one in the condition it is presently in.

My experience with this model of home is that they tend to appraise low because they are a unique "set" of homes that were all built at the same time by the same people with identical floor plans, etc, and appraisers only compare them to each other.

So I want to help make this other one be the one that "breaks out" and sells for what it's listed at or higher.

If these were the cards you were dealt, how would YOU play them?