Next week, on September 28 to be exact, we celebrate Good Neighbor Day - a day dedicated to building stronger communities. As your trusted real estate agent, I'm here to ensure you not only find the perfect home, but also become an integral part of a thriving neighborhood. At Carl Johnson Real Estate, we believe in taking the time to sit down with each buyer and discover the best way to work together. We engage in conversations about your quality of life and lifestyle because it's at the forefront of our minds. When searching for a home, our mission is to find the perfect match that aligns with your unique needs and preferences. As your dedicated real estate team, we are your quality of life and lifestyle matchmakers. With our extensive knowledge of the area, we can guide you to neighborhoods that align with your lifestyle, preferences, and needs. We're deeply connected to the local scene and take pride in introducing you to events, amenities, and resources that will make you feel right at home. Photo Credit: © 2023 Buffini & Company. All Rights Reserved. Used by Permission. RMMK SEPTEMBER S Let's work together to find not just a house, but a place where you can truly call your neighbors "friends.” Happy Good Neighbor Day! Call us TODAY 919-880-0904 to learn more about how we will help get you to where you want and need to be.
CLICK HERE to learn more about different Chapel Hill communities.
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NEW at the bottom of this blog page, be sure to see the data about two counties at The Crystal Coast, Swansboro to Beaufort. According to the Triangle MLS in August 2023, “higher mortgage rates, along with elevated sales prices and a lack of housing inventory, have continued to impact market activity during the summer homebuying season. The average 30-year fixed-rate mortgage has remained above 6.5% since May, recently hitting a two-decade high in August, according to Freddie Mac. As a result, existing-home sales have continued to slow nationwide, dropping 2.2% month-over-month as of last measure, with sales down 16.6% compared to the same time last year, according to the National Association of REALTORS® (NAR).” The Triangle MLS goes on to point out that, “new Listings in the Triangle region decreased 17.2 percent to 3,817. Under Contract Sales were down 10.0 percent to 3,126. Inventory levels fell 17.1 percent to 5,561 units. Prices were fairly stable. The Median Sales Price increased 0.7 percent to $407,990. Days on Market was up 31.3 percent to 21 days. Sellers were encouraged as Months Supply of Inventory was down 5.3 percent to 1.8 months." "Falling home sales have done little to cool home prices, however, which have continued to sit at record high levels nationally thanks to a limited supply of homes for sale. According to NAR, there were 1.11 million homes for sale heading into August, 14.6% fewer homes than the same period last year, for a 3.3 months’ supply at the current sales pace. The shortage of homes for sale has boosted competition for available properties and is driving sales prices higher, with NAR reporting a national median existing-home price of $406,700, a 1.9% increase from a year earlier.” In Chatham County, there was a 26.1% decrease in new listings in August. The number of closed sales decreased between 2022 and 2023, falling from 121 to 103 or by 14.9%. The median sales price increased by 0.6%, which meant in August, Chatham County's median sales price was above the median sales price for all Triangle MLS listings. In Durham County, the average August median sales price increased from $410,500 in 2022 to $425,00 this year, or by 3.5%. New listings and closed sales both decreased, by 21.6% and 14.7% respectively. The August median sales price in Durham County was a bit higher than the median sales price across all the Triangle MLS listings. In Orange County, there was a 15.4% decrease in new listings in August. The number of closed sales decreased between 2022 and 2023, falling from 158 to 132 or by 16.5%. The median sales price increased by 16.5%, which meant in August, Orange County's median sales price was higher than the median sales price for all Triangle MLS listings. The number of listings in Person County decreased by 9.1%, from 55 new listings last August to 50 new listings this August. There was a 29.5% decrease in closed sales. The median sales price increased by 11.9%, which meant in August, Person County's median sales price was on par with the median sales price for all Triangle MLS listings. In Wake County, there was a decrease of 21.5% in the number of new listings compared to August of last year. The number of closed sales also decreased, by 19.3% percent. The median sales prices increased by 0.7% year to date, to $479,900, which is higher than the median sales price for all Triangle MLS listings. In Carteret County, there were 180 new listings, comprising residential and multi-family properties. There were 134 sold properties in August. While the average list price was $736,210, the average sales price was $572,318, the average list price shows to be increasing significantly in September, which is good news for sellers. In Onslow County, there were 1,137 active and 495 new listings in August, comprising residential and multi-family properties. There were 429 sold properties in August. While the average list price was $385,733, it shows to be increasing to an average of $420,258 thus far in September.
If you’re ready to buy or sell at the beach in Carteret or Onslow County, Carl Johnson Real Estate can help you at the Crystal Coast. Give us a call at Carl Johnson Real Estate--919-880-0904 to learn more about how we will help. To learn more about the Crystal Coast CLICK HERE. The September 2023 Institute for Luxury Home Marketing monthly trend report is out now! The following is per the Institute for Luxury Home Marketing September 2023 Market Report: In a continuation of last month’s report, we take a deeper dive into the upcoming trends for the rest of 2023 and early 2024, especially as the market has seemingly settled into a new norm. In general, the market remains statistically favorable to sellers mainly due to the continued lack of inventory. However, buyers, especially those looking to purchase with cash, recognize that the current market does now offer more opportunity as well as some additional negotiation leverage. Despite the significant drop of demand and sales in the latter part of 2022, the first eight months of 2023 showed an upward trajectory for both home prices as well as sales for single family homes. Attached home prices saw more variation, but the volume of sales also increased. Month-over-month between January and June, sales increased. While they dipped in July, typically a slower month as people escape for vacation, August’s figures show an uptick in demand. Although sales and prices have not returned to the same heights as the first quarter of 2022, which was probably the top of the market in terms of price and demand, the current trajectory signifies a steady demand for luxury properties. This bodes well for the upcoming fall/winter market, especially when compared to the same period in 2022. Experts are predicting that home prices will continue to rise, at least during the rest of 2023, but notably at a considerably more moderate pace. Pricing is still being controlled by lower-than-average inventory levels, which itself has become a major driver of the market’s status. While it’s predicted that interest rates are likely to fall, albeit not until late 2024, it still seems unlikely that prices will decline as higher demand will offset any negative increases in inventory levels. Most analysts and economists predict, according to a report from Norada Real Estate Investments, that over the next five years, prices will remain either flat or will only experience a modest decline. Paired with more robust lending standards, no one anticipates a similar price crash to the one that occurred in 2008. Luxury homeowners are investing in smart home technology as it improves the quality of their lifestyle by creating healthier environments, controlling daily routines, and providing security and safety when at home or even at a distance. Some of the key trends in smart home technology for 2023/2024 include: 1. Voice control: The use of voice assistants like Amazon Alexa and Google Assistant to control various smart devices has been growing and is expected to continue, along with improved voice recognition technology in kitchen appliances. 2. Smart appliances: More appliances, such as refrigerators, washing machines, and ovens, are becoming smart and interconnected, allowing for remote monitoring and control. 3. Energy efficiency: Smart home devices designed to increase energy efficiency, such as smart thermostats, LED lighting, and energy monitoring systems, are becoming more popular as people seek to reduce energy consumption and lower utility bills. 4. Security and surveillance: Demand for smart security systems, including video doorbells, smart locks, and home monitoring cameras, are on the rise as people prioritize home security. 5. Home automation: Integrating various smart devices into a central automation system for convenience and efficiency is a growing trend, especially by tech-savvy homeowners. This includes controlling lighting, heating, cooling, and entertainment systems through a single interface. 6. Health and wellness: Smart home technology is increasingly being used to monitor health and well-being, including fitness trackers, sleep monitors, and air quality sensors. For homeowners looking for their next home, it is still important to recognize that although costs to purchase will be much higher currently, over the long-term, real estate offers one of the most consistent ways to see a good return. More importantly, ownership provides security and a haven for their family.
Did you know that Carl Johnson is certified as an Institute for Luxury Home Marketing Specialist, CLHMS, which means he offers superior knowledge and experience in the luxury market? His CLHMS membership also provides him with access to an elite network of contacts and resources that help to find you your dream home from Swansboro to Beaufort and beyond. If you have a high-end listing, using the most up-to-date marketing information, Carl positions your listing ahead of the market curve. Call 919-880-0904 for a consultation or CLICK HERE. Coldwell Banker Howard Perry and Walston’s Turkeys for the Triangle program started over two decades ago, by partnering with local charities, homeless shelters, and churches to give away thousands of turkeys each year to provide a turkey meal to food-insecure families during the holiday season.
This is a collective effort of the company’s 900 agents and staff, who sell $5 raffle tickets during the holiday season to raise money to fund the purchase of the birds. This year, we plan to distribute over 5,000 frozen turkeys to more than 100 local nonprofits, active military, and veterans this holiday season through our annual Turkeys for the Triangle program. We split the sizable donation into two separate allotments, with turkeys handed out for both Thanksgiving and Christmas. Turkeys for the Triangle has donated over 40,000 turkeys to anchor holiday meals for more than 160,000 people. If you want to purchase raffle tickets, donate, or become a sponsor, please CLICK HERE. Here are some fun ideas to consider if you are interested in hosting a community event. I’ll also provide some tips on how to ensure the event goes off without a hitch.
When it comes to investing, real estate is an excellent option for building long-term wealth. In fact, for the past nine years, the number of Americans who believe real estate is a better choice than investing in stocks, gold or savings accounts has grown.
Here we will highlight some of the many benefits of investing in real estate, including that it is a great hedge against inflation and provides tax incentives and passive income. I also define the basics of fair market value versus investment value. As with any investment, prudent research and expert guidance are important. If you need any assistance finding a qualified professional, please feel free to reach out to me and I will connect you to one in my trusted network. Original Content by Carl Johnson
As much as we all enjoy soaking up the last warm days of the summer sun and welcome in the cool evenings of the fall, it is smart to keep in mind that the winter months are not far away. With the cooler months comes the firing up for your furnace again, the closing of the wide-open summer breeze windows, and less hours of natural daylight streaming through your home. There are simple steps you can take now, while it is still short and sandal weather, to ensure a safe, energy efficient, and cozy home for the upcoming winter. Upgrading thermostats, switching out lightbulbs, even a new HVAC system are all items to look into now to help you save and be safe later! The thermostat in your home may work just fine, it's the original one you bought with the house and you don’t fix what’s not broken. But in this case, upgrading to a smart thermostat can save you money, make you more comfortable, and be energy efficient to your HVAC unit. Many technology companies offer smart home thermostats at a variety of prices which allow you to get this modern convenience quick and easy. What does a smart thermostat do? According to Energy Star, a certified smart thermostat can save on average 8% on your yearly electric bill (How Much Will a Smart Thermostat Save on Energy Costs? | Digital Trends). Most smart thermostats offer a phone app which allows you to control the home temperature from anywhere. Meaning if you are out of town for the week and think of it, you can lower your temperature, so the unit is not running while no one is home, wasting all of that energy and your money. You are also able to set ranges which allow the unit to run within a set degree range of your choice, so the unit isn’t working too hard on an extra cold or hot day. It is also common to have a time-of-day temperature option where the unit will automatically turn up or down while you are at work and then kick on at the time of day you are home. Smart thermostats also offer eco-friendly suggestions of what is the more energy efficient temperature to run for your home. There are a lot of options for you when it comes to style and prices of a smart home thermostat. Buyer’sGuide.com gives a great list of the top ten smart home thermostats of 2023. CLICK HERE to see the full list in addition to the ones listed below. Google’s NEST Learning Smart Home Thermostat Amazon Smart Thermostat Honeywell Home Wi-Fi Color Smart Thermostat Ecobee Smart Thermostat Though installing a new smart thermostat is a simple swap out with the old, it is best to use a professional electrician for safety. But an easy task you can do on your own is upgrading your home's lightbulbs! Though this sounds simple, according to the U.S. Department of Energy, having LED light bulbs in the home can save over $200/year on your home's energy bill (Here's How Much Money You Can Actually Save Switching To LED Light Bulbs (slashgear.com). This savings is just from a simple swap to an LED bulb, but now on the market are smart bulbs with use the same idea of a phone app as the thermostats to allow you to control factors which increase the bulbs efficiency. These Bluetooth and Wi-Fi light bulbs offer energy savings through dimming options, timers, and device triggers, they also often offer a color changing availability. You can find popular light bulb companies such as Philips and GE with smart LED bulb options as well as some you may not have heard of such as Wyze and Globe Electric. These can be purchased online as well as at major hardware stores. A more expensive way to make your home ready for winter and more energy efficient is to upgrade your HVAC system. Though this may seem daunting, it is often an inevitable change that needs to be made to a home over its lifespan, and as the saying goes your furnace never breaks on a nice cool day, it goes out when it's snowing or boiling and needed the most! You may not need a full new system, but having an HVAC professional come out to your home and giving it a checkup and a tune up may be enough to get you ready for the winter. Even just getting your air ducts cleaned helps the units run more efficiently. But when your unit is finally on its last leg, there are more energy efficient options available to you which can save you money over time. Forbes.com (Best HVAC System: Buying Guide – Forbes Home) gives the following chart as suggestions to help you find which type of system is best for your home, as there are more options and prices than you may think. Working with an HVAC professional will help direct you in the right direction to get the best value and unit for you. Units offer a Seasonal Energy Efficiency Ratio (SEER) which is a rating to show you how well it’ll run. If efficiency is important to you make sure to look for units with a high rating! In fact as of 2023, SEER rating have increase for the first time in years making it mandatory for new units to have a rating of 15 in southern states (How the 2023 HVAC regulations impact homeowners | HVAC.com). Once the new system is up and running you are sure to see a difference in your home's comfortability as well as your energy bill! Small changes from a light bulb to a thermostat may seem simple but taking the time now to ready your home for winter can save you not only money but also worry and stress in the long run. CLICK HERE to read another Carl Johnson original article where we covered even more smart home technologies! Original Contact by Carl Johnson After living in downtown Durham for years, I had found our perfect "next step" home in the North Durham area. At the time, in the early 2010’s, my friends and colleagues were questioning my new location which was "more bang for the buck," a further drive from my favorite restaurants and theater, and the thought of jumping on 501 just to get downtown seemed silly. Flash forward to today and this lifestyle of a highway commute to work or living outside the city but still enjoying its benefits has become the new norm. We continue to get squeezed in the Triangle as more and more people are moving in, for the Triangle is the new Austin/Silicon Valley! This changing scene in the real estate industry reminds me of our The Preamble to the Code of Ethics for the National Association of Realtors, which is like our Real Estate Oath. This preamble states “REALTORS® should recognize that the interests of the nation and its citizens require the highest and best use of the land and the widest distribution of land ownership”. I take to heart some key notes from the preamble, which are having the best interests of the nation, citizens, and land, always looking out for each one with all of my clients. This is why we get creative when needed, use our knowledge to the best of our ability, and work together as a team with our clients. As land parcels become less available there are a few suggestions we make to our clients to help guide them through this time of growth for the area. Such as land use options, expanding your house search zone to include more locations, looking at a home/land parcel with the vision to renovate or update the unit in mine, and knowing your zoning and local municipal resources to make the most out of your land/unit are all ways we can help you! Statistics from the local Triangle MLS (Multiple Listing System) show a staggering change in active land parcels available from 7,000 available in 2012 to only 2,250 in 2023! See the graphs below. To counteract this ongoing land shortage issue, Durham and the Durham Planning Department (LINK) has worked hard to move restrictions and regulations around the area to free up more land. For example, the Department has made it easier for property owners to build ADU (Accessory Dwelling Units) in support of these structures. An ADU allows for a property owner of a single unit to build an additional detached or attached unit on their property. This gives opportunities for more rentals in the area which was otherwise not possible. The Planning Department removed the required parking restriction for ADU, making the option to build easier (LINK). An ADU gives flexibility to the property owner such as a rental unit for more income, a future home for a family member who can’t otherwise find a local house, or even a home office if needed. As always it is important to refer to the Planning Department's website for detailed information on ADU’s as well as contacts to learn more. CLICK HERE for their user friendly website and see if an ADU is an option for you.
You may think that if you do not have an existing property that an ADU may not be of much help to you, however the knowledge of an option to build one and the potential rental revenue it brings in, may add to your affordability with an increased income. If land and home options are in such shortage in your area, looking for a home outside of the immediate downtown or your original ‘desired’ location leads to many new opportunities! With a larger zone you tend to find larger houses and lots, lower priced homes for their city counterparts, and more inventory options for both land and houses. We are seeing buyers that would normally have purchased in the Orange, Durham, Wake County markets buying in Alamance and Person areas to find a house that checks all their boxes. This is why one of our suggestions for a client looking for particular factors in a house or land is to expand their search zone. For example, the demand for homes in the immediate Durham area is so high, that as inventory comes and goes it is causing home prices to go up in that area. However, that very similar home may be well within your price range in a nearby county. Click the link below to learn more about these new growing areas to see how they can be a great fit for you: Click Here Local home builders and land developers have also noticed the land shortage following the trend and draw to nearby counties. You can find great new construction homes being built in almost any county around Durham if a new home is a checklist item for you! Local WRAL News (The Triangle is losing trees... and getting hotter (wral.com)) states that from 2010 to 2020, 11,120 acres of tree canopy has been removed to make room for the land demand in the Triangle, that is more than 8,400 football fields to put it in perspective. Timothy Maloney, Wake County’s Planning Director, sees options to manage the growth better to help with tree loss, including a study which identified the opportunity for planting 1.5million trees back to the land. If your property search location is a must for you, due to work, schools, or anything really, we understand. This is why when the land and unit inventory in that specific area is an issue we have other recommendations for you! Doing a property search with the idea of a renovation either small or major in mind can let more properties be on your radar. From opening walls to make an open concept style home, adding on a bedroom if the zoning allows, or just looking for simple cosmetic changes which can be made to make that house your dream home. Our friend and colleague Teresa Chancellor is a fabulous local interior designer I highly recommend to our clients. She has a unique way of making any space work for you and help to bring your dreams to life. CLICK HERE to contact Carl and learn about Teresa, her style, and how to get in touch! If you are looking for land parcels to build your own home on but having trouble finding options in your area due to land shortages, we have some recommendations for you too. Subdividing the parcel, or splitting of the property into two or more separate parcels, is an option not many people think of but can be useful with land shortage. For example you may find a parcel of land that is in a location you like but it is priced too far above your budget. As a Real Estate Professional I can reach out on your behalf to the listing agent and see if the owner would explore subdividing the land. If zoning permits this would allow the newly split parcel to be more affordable to you. There is also the option for you, if you research before you purchase it, to see if you would be able to split the parcel yourself, and then buy the land and sell off the divided land therefore generating some revenue back to you. If a home you find is too large for your needs or slightly outside your budget you can also explore, if zoning allows, dividing the unit into separate dwellings. For example if the structure and land allows, you can make a house into a duplex style home where you are gaining rental income from the new unit. Another option that may exist for some, if budget allows and the right parcel comes on the market, is the full demolition of the existing structure. As houses are popping off and on the market in population dense areas such as Durham, demolition can be a realistic option for you to get all checklist items on your house at one location. With demolition or even just a small renovation it is once again important to know the right resources to guide you through the process. Things to consider for any of these processes are zoning on the parcel, permits that will be needed, well/septic allowances, and the ability for utilities and cable/internet to get to the house. As stated before, the City-County Planning Department of Durham has a fantastic and easy to use website: City-County Planning Department | Durham, NC (durhamnc.gov) Every county and municipality has resources such as this which are there to help you with your parcel and house needs. CLICK HERE to visit our blog that has links to the Triangle area planning departments. You want to make sure to always start with them before beginning a project to avoid slowdowns along the way. For example you want to pay attention to wet lands and any part of the land that does have water on it. You may have setbacks about distance to waterways/wetlands which may restrict construction, you definitely want to know this before digging! As mentioned above other common restrictions that show up are use of well/septic systems. The addition of a new structure, both detached and attached, cause a review of well and septic size and needs. You will also find that there may be restrictions on the ability to get utilities such as gas, electric, and internet/cable to the property. After review you may be presented with options such as gas, propane, or an underground oil tank for the new structure all with varying prices to build them in. In the end you have to make decisions that are within regulations, best value for your budget, and in the long run what will make the land its best use for you! From the start of your home search we will work with you each step of the way. Though the land shortage in the Durham area is very real, it does not mean that you will miss out or have to compromise. Working with you as a team, getting crafting, and keeping up to date on options as well as our knowledge and trust is why we help all of our clients win in this market. CLICK HERE to call or contact us today at Carl Johnson Real Estate and we can get started together. Get ready for some seriously upscale living in Chatham County! According to an article in the Triangle Business Journal online edition on August 23, 2023, a “Cary developer adds to flurry of luxury homes in Chatham County.”
Cary developer, Pranay Parekh, has officially submitted an application to Chatham County for a luxury development spanning over 130 acres near the picturesque Jordan Lake. The proposal seeks to rezone the area for a lower density, meaning fewer houses on bigger plots, giving everyone lots of space. Nestled at 739 Hatley Road, just north of Highway 64, Parekh envisions an enclave of 25 meticulously designed single-family homes. Each residence will boast generously proportioned homesites, ranging from a minimum of three acres to an impressive average of five acres, creating an idyllic setting for luxurious living, as detailed in the application. While still in the initial stages of planning, Parekh envisions a project akin to the Hills of Rosemont in Durham, known for its multi-million-dollar properties. Exact square footage and pricing details remain pending. Parekh is teaming up with skilled local custom homebuilders to make his vision a reality. This is all part of a trend of high-end homes popping up in Chatham County, especially around Pittsboro and Fearrington where land prices offer a favorable advantage over the Triangle's central counties of Wake and Durham. With this development, Chatham County stands poised to become a sought-after destination for luxury living. Did you know that Carl Johnson is certified as an Institute for Luxury Home Marketing Specialist, CLHMS, which means he offers superior knowledge and experience in the luxury market? His CLHMS membership also provides him with access to an elite network of contacts and resources that help to find you your dream home from Swansboro to Beaufort and beyond. If you have a high-end listing, using the most up-to-date marketing information, Carl positions your listing ahead of the market curve. Call 919-880-0904 for a consultation or CLICK HERE. At Carl Johnson Real Estate, our main goal is to find the home of your dreams, help negotiate the best price we can, and make sure all of the boxes are checked off to get you into a new home. Finally, after so much excitement, stress and anxiety, the house hunt has come to an end.
But the story isn't over yet. Here are some next steps to consider before you actually move in. 1. Plan renovations well in advance Rarely does a buyer get a place that's move-in ready. By the time you've signed a contract, you have lots of ideas about how you’ll live in the home, how you’ll customize it and what work needs to be done. If the place needs work, don't wait until you've closed to engage a professional. Either at your final walkthrough or during a private appointment, get the proper contractors in the house and start collecting bids for necessary work. If possible, have floor sanding, painting or small fix-it work done before you move in. Real estate agents work with all kinds of tradespeople, so they’re often a great resource for referrals. 2. Set up the utilities Some people assume the utilities will work once they walk in. While many utility companies have grace periods (the days between when the seller cancels service and the new owner calls), you can't always assume this will be the case. If you have an out-of-town seller, they may have canceled services the day they knew all contingencies were removed. In this instance, the grace period likely lapsed, and you may be stuck dealing with the electric company, waiting for an appointment or just being without power when you really want to start painting, fixing or cleaning. The best plan is to call the utility companies and get service set up well before closing. If they haven't received cancellation notice from the seller, let the seller know to take care of that. 3. Change the locks Assume that everyone has a set of keys to your new home. The seller’s real estate agent likely gave copies to their assistant, a painter, a stager or even another agent at some point during the listing period. That’s why the first person you should call after getting the keys is a locksmith. 4. Hire a cleaning crew There’s nothing worse than showing up with the movers, dozens of boxes and your personal belongings only to discover the seller hasn't had the place cleaned. Assume the worst and get a professional cleaning crew in there the minute after closing. Even if the seller did clean, they may have done a poor job. You want to start life in your new home with a clean slate. The bones of the place will be sparkling clean, and you won’t be scrambling to get cleaners in while the home is in a state of unpacking disarray. 5. Have a handyperson, contractor or designer on call Moving involves the kind of stuff you wouldn't wish on your worst enemy. Things like aligning your framed artwork, centering the couch in the living room or getting the large rug set up in the master bedroom can drive you crazy. While it may seem like a luxury, investing a few hundred dollars in hiring someone to help with these tasks will save time and potentially relieve you of a giant headache. Thinking ahead is the way to go As your closing date draws near, you’re probably exhausted. But taking a little extra time to plan ahead will save you time, money and stress — and make the move into your new home so much more satisfying. It is no accident that readers of Durham Magazine voted Carl of Carl Johnson Real Estate Best Realtor, Readers’ Favorite, in 2022 and 2023. It is because we put you – our buyer and seller clients – first. Whether you are looking to buy or sell a home, we want to be here for you. CLICK HERE or call 919-880-0904 and we can start the conversation on how we will help you reach your real estate goals. |
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