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Same as benefits above accept immediate hazards are fixed which <br /> doesn't necessarily improve the housing stock because only <br /> immediate hazards are required. Costs associated are inspection <br /> fee, city costs and repair costs. <br /> C. Benefit of Point-of-Sale. The City can upgrade the <br /> housing stock and confirm a house is up-to-code. The average of <br /> homes sold between 1992-1994 is 159, which is 3% of the housing <br /> stock. A benefit of Point-of-Sale is 10 years from now 30% of the <br /> housing stock would be up-to-code, which will increase property <br /> value. When property is upgraded, property values also increase. <br /> An increase in property values would increase the property tax <br /> revenue for the City. <br /> IX. BENEFIT OF PUBLIC/PRIVATE INSPECTION <br /> A. Benefit of Public Inspection. Private evaluators can very <br /> inconsistent. One inspector might be strict while the other one <br /> not as strict. A public inspector does inspection with intent of <br /> providing adequate up-to-code housing, whereas a private evaluator <br /> might be looking out more for the person than for the city giving <br /> them some leeway. <br /> B. Benefit of Private Inspection. Private inspectors are <br /> able to work around the citizens schedule. For example someone <br /> might need an inspection at night or on a weekend. The City <br /> usually offers a lower cost inspection but it must be during normal <br /> working hours. The social costs here are directly beneficial for <br /> the citizen (convenience and preference) as listed in part IV. <br /> If citizens have a negative attitude about required inspection, the <br /> buyer may be more cordial to a private inspector. <br /> In 1993, over 3 . 8 million homes were sold and about 50% were <br /> inspected. The Federal Housing Administration has enacted new <br /> regulations requiring that all FHA financed homes be inspected <br /> before closing. <br />