Q:

What is the advantage of knowing the value of homes sold in one's ZIP code?

A:

Quick Answer

Knowing the value of homes sold in one's area is advantageous because it helps a homeowner have an idea of how much his home is worth. This knowledge can help a homeowner determine an ideal time to put his home on the housing market.

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Full Answer

Knowing the value of homes sold in the immediate area is also beneficial to anyone considering refinancing his home. Refinancing a home is a good way to lower the mortgage interest rate and mortgage payment and may allow a homeowner to take cash out of the home's value to pay off financial obligations. Knowledge of the value of one's house can also help a homeowner determine how much to spend on home improvements.

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