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.
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.