The housing market has been the subject of intense scrutiny over
the past few months. According to the National Association of
Realtors, there are currently 3.8 million homes "on the market."
Certainly homeowners recognize that a house is a major investment
and if they ever have to sell - even in a difficult economy - it
must be in great shape without any major issues.
But often there is one crucial matter that both home owners and
buyers often overlook: underlying pest issues. Every year, damage
caused by pest infestations costs homeowners billions of dollars in
repairs. Termites alone cause more than $5 billion in property
damage each year, and can threaten the structure of a home. Another
little known fact is that property damage caused by wood-boring
insects such as termites, carpenter ants and powder post beetles is
not covered by homeowner's insurance policies and that expensive
repairs come out of the homeowner's wallet.
Just last month, The University of Georgia conducted a survey of
Georgia residents to assess perceptions and knowledge of issues
facing residents in the state, and termites and wood-destroying
pests affecting home sales was one of the top categories.
Ninety-seven percent of respondents said if they were to purchase a
new home, they would like it to have been inspected for termites
and other wood-destroying pests, yet more than half of all
respondents disagreed with the statement that all homes are
currently inspected for termites at the time of the sale.
Last year Realtors in the state of Georgia reversed the need for
home sellers to have a "Termite" letter in order to sell their
home. But for anyone hoping to sell and looking for ways to make it
stand out, they should consider having a pest inspection to obtain
the termite letter - it could be key differentiator and help move
the home from "on the market" to "sold."