Buying a Home? Don't Forget the Inspection!

 You’ve finally found the home that is just right and made an offer and it was accepted. Now you just wait for escrow to close, right?  Wrong. Now is the time to have the home inspected to make sure you are aware of any possible issues in the home before it’s too late and the deed has been transferred. An independent inspector can evaluate your potential home on a structural and functional level and give you a full report, generally in under two hours. This report can help you feel at ease with your purchase and alert you to any areas of concern. If there is a swimming pool or spa or unusual home appliance or fixture, you may want to have that inspected individually by a reputable repairman in that field. Questions and concerns relating to asbestos, lead or chemicals, mold and mildew, or pests will need to be directed to an inspector licensed in those specific areas of expertise. Generally speaking, a home inspection on a property for sale will cover the following areas:

• An evaluation of the walls, ceiling, floor, roof, firewall, windows, foundation and slab.
• Inspection of the landscaping, looking particularly at grading and drainage, although drives and walkways, fencing, trim, doors, windows, and outlets will be checked as well.
• General framing as seen in exposed beams or attics, ventilation, duct and plumbing systems, and the condition of roofing materials, plumbing and rain gutters will be noted, too. Water heaters, fireplaces and the sprinkler system should be evaluated.
• The electrical sources and wiring in the home will be inspected, from circuit breakers and grounding systems to exhaust fans and receptacles.
• All appliances, including the garbage disposal, alarm system (if needed) and all smoke detectors.

Every county and state has different regulations in regards to home inspections, so it it best to use a local inspector recommended by someone you trust. As your Realtor, we can suggest quality home inspectors in your area that we trust. Realtor.com also has an article on some factors to consider when hiring an inspector. If the inspection uncovers issues in the home regarding health and safety issues, a need for the roof or ventilation system to be replaced, a problem in the home’s foundation or significant drainage concerns, you will want to further explore the problem at the seller’s expense.

courtesy www.StevenKatchman.com

Market Conidtions

Accord to Yahoo! News today, home sales fell in March but the supply of properties on the
market tightened and prices inched higher. Even with March's decline in sales, this years first quarter is the strongest since 2007. 
An important thing to remember is that market conditions are area specific. The information you hear quoted on the news are national statistics. A good idea is to ask a local Realtor for market information pertaining to your neighborhood to get a better understanding of your market. 
For example, below are statistic for Montgomery County, PA. You could even go one step further and get township statistics too!
Montgomery County - Single-Family Homes

Inventory

	Mar 11	Mar 12
Inventory	4,961	4,548
Inv. Accumulation	9.4	8.6

Market History

	Mar 11	Mar 12
Settled	426	476
Median Price	$240,000	$245,000
SPrice/OPrice	89.9%	90.2%

Year-to-Date Market Snapshot

	Mar 11	Mar 12
Settled	1,067	1,236
Median Price	$245,000	$240,000
SPrice/OPrice	89.57%	89.87%

New Restaurants to try!

Are you like me and love going out the eat?  I don't get to do is as much as I'd like, but when I do, I like to visit a new restaurant in my area. Michael Klein with Philly.com has provided an amazing map of restaurants opening up in Philadelphia and surrounding suburbs. The new establishments plan to offer a range of styles and price points. The restaurant locations are identified on the map and labeled as Open, March, April, Spring, or Future. It's a fun and easy tool to find a new place to try!

Click here: Restaurant Map

Have fun exploring and planning your next night out!