Newspaper article The Florida Times Union

Industry Study Shows Home Inspectors' Services Valued

Newspaper article The Florida Times Union

Industry Study Shows Home Inspectors' Services Valued

Article excerpt

Byline: Earl Daniels, Times-Union business writer

Home inspections are an important part of the home buying process, according to the results of an industry study.

The study, which was conducted by the American Society of Home Inspectors and the National Association of Realtors, revealed 77 percent of all recent home buyers obtained an inspection prior to the purchase of their home. Of these home buyers, 97 percent believe the home inspection was a good value for the price they paid.

"It's clear from this survey that home inspections are used more now than ever before," said John Ghent, president of the American Society of Home Inspectors Inc., which is located in Des Plaines, Ill., near Chicago.

The survey polled 1,000 home buyers and 900 real estate agents.

"We're happy to hear that consumers are more confident about buying or selling a home when they involve home inspection professionals," Ghent said.

He said on a scale of 1 to 5, with 1 being "strongly disagree" and 5 being "strongly agree," home buyers scored a 4.51, indicating the inspection increases their confidence in their purchase.

Buyers' views on federal proposal

Four out of five home buyers are concerned that banks will use consumers' confidential financial information to market them for real estate services should the federal government allows banks to enter real estate brokerage, according to a recent study by the National Association of Realtors.

The survey, conducted March 15-19 with 2,000 Americans, found 81 percent of home buyers and sellers believe their privacy will be violated if banks are allowed to enter real estate and share consumers' confidential financial information with their real estate subsidiary.

Three out of five, 60 percent, of consumers do not believe federal banking laws adequately protect their privacy, and 83 percent of home buyers and sellers said it is not a good idea to allow large banks the power to act as real estate brokers, according to the survey. …

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