In what may be the first fluttering of a recovery in the housing market, sales of existing homes last month actually increased from January levels according to the National Association of Realtors (NAR.)

Sales of previously occupied single-family houses, condominiums, co-ops and town houses rose 2.9 percent in February to a seasonally adjusted annual sales rate of 5.03 million units. The January sales level was 4.89 million. In spite of the encouraging small increase, February's rate was still 23.8 percent below the 6.60 million pace one year earlier.

NAR's chief economist Lawrence Yun said the increase is encouraging. "We're not expecting a notable gain in existing-home sales until the second half of this year, but the improvement is another sign that the market is stabilizing," he said. "Buyers taking advantage of higher loan limits for both FHA and conventional mortgages will unleash some pent-up demand. As inventories are drawn down, prices in many markets should go positive later this year."

Another bit of good news; inventories of existing dwellings fell 3.0 percent in February to 4.03 million homes available for sale. This is a 9.6 month supply at the current rate of sales compared with a 10.2 month supply in January.

Specializing in Wilmington, Leland, Hampstead, Sneads Ferry, Jacksonville, Topsail Island including Surf City, Topsail Beach, North Topsail Beach, Beach and waterfront properties covering New Hanover County, Pender County, Brunswick County and Onslow County areas

What You Should Know About Home Inspections

Since obtaining a home inspection is one of the most important steps in purchasing a home, I thought I'd take the opportunity to provide some insight into the home inspection process.

A qualified inspector can point out potential costly problems with the home you are considering buying, and a good inspector will give maintenance advice and ultimately give you peace of mind about your home investment. All home buyers -- whether they are buying an older home or building a new one -- should have the home inspected by a professional after making an offer and before closing.

There are a few things you need to know before hiring a home inspector. First, the home inspection industry is becoming more professional and regulated, a trend that CENTURY 21 Sweyer & Associates strongly supports. There are professional organizations with codes of ethics, like the National Association of Home Inspectors and the American Society of Home Inspectors, but membership is voluntary.

The average home inspection costs $300, which can be paid on the day the inspector examines your home or at closing. Lower or higher fees do not necessarily reflect the expertise of the inspector. Finding an experienced home inspector who provides value for your money is most important.

Ask inspectors about their qualifications. Do they have experience in the construction or engineering industry? Do they have special training or accreditation from a professional organization? How long have they been inspecting homes in the local area? Are they familiar with problems specific to our area like drainage issues, pests or building material failures? Not all inspectors are experts in all fields, for example in Wilmington, we have a large Historic District which requires a special expertise. On the islands like Topsail Island and Wrightsville Beach,  you want someone that specializes in Beach homes. Your real estate professional should be able to recommend a qualified inspector that is experienced in the type and area of your new home.

Once you have found a qualified professional, it's important that you attend the inspection with me and your home inspector. Some buyers like to climb into the crawl space and attic with the inspector to look at the home's major systems. At a minimum, be on site to ask questions, examine the problem areas and learn about the ongoing maintenance your home will need.

The standard home inspector's report will review the condition of the home's heating, plumbing and electrical systems. The report will also include information about the structure including the foundation and basement, as well as the roof, attic, walls, ceilings, floors, windows and doors. It may include photos of problem areas or recommendations for repairs.

Specializing in Wilmington, Leland, Hampstead, Sneads Ferry, Jacksonville, Topsail Island including Surf City, Topsail Beach, North Topsail Beach, Beach and waterfront properties covering New Hanover County, Pender County, Brunswick County and Onslow County areas