A “home inspection” typically includes inspection of the following: structure and foundation, electrical systems, plumbing systems, roofs, attics, basements, crawl spaces, gutters and drainage, walls, floors, ceilings, porches, decks, property site, furnaces, air conditioning, plumbing fixtures in kitchens and baths, water heaters, lights and receptacles, windows, doors, built-in appliances, garage, mold and termites. Most buyers also have a radon test which runs about $75 to $100 unless it is included in the “home inspection”.

6. You have the home inspection done. Usually the inspector goes to the property and does his inspections, this takes several hours. You will meet the inspector at the home when he is finished with his inspections. The inspector will walk through the property with you and point our things that he has found. The inspector will then create a written report and send you and your Realtor copies. After everyone has read the report you will get together with your Realtor and discuss the results. Generally you will want to have the seller fix major health and safety issues, such as a bad furnace or a leaking roof, prior to closing. Your Realtor will draft an addendum that lists the problems that were found and what you would like to have done about them. This addendum is given to the seller and hopefully they sign it and agree to fix what you want fixed. Sometimes there is some negotiation back and forth before everyone is in agreement.

Speaking of Billings, we have been ranked number one in the nation for housing price appreciation for 2009 with an estimated appreciation of 2.1%. Compared to the 6% we saw in 2008 that doesn’t seem like much. But when compared with the rest of the nation it is impressive.

The top 15 cities are:

1. Billings MT 2.1%
2. Fargo ND 1.8%
3. Lander WY 1.7%
4. & 5. Trenton NJ & Morgantown WV 1.6%
6. Logan UT 1.4%
7. Bozeman MT 1.3%
8. & 9. Albany GA & Fairmont WV 1.2%
10. Minot ND 1.0%
11. Great Falls MT -0.9%
12. & 13. & 14. Livingston MT, Missoula MT & Bismarck ND -0.8%
15. Grand Forks ND -1.1%.

While home sales have slowed during the past months they seem to be heating up with the weather. Montana has one of the lowest unemployment rates in the nation and this is seen as part of the reason for Billings’ ranking in this survey.

Billings and Montana in general also escaped much of the credit problems that are plaguing the rest of the nation’s housing market. We have relatively few foreclosures probably due to the fact that there was not much sub prime and creative financing used in the past here.

Billings ranking as number one came from the Housing Predictor. Information was gathered on several factors including economics, political influences, business development, construction and other socioeconomic issues in order to predict this growth in housing values.