LINGO 101: Money-Saving Glossary To Key Moving Terms | Wilmington NC real estate

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Moving companies have a host of terms for the details of handling household goods.

A Short Glossary

    • Accessorial service. Packing, unpacking and services other than transportation.
    • Advanced charges. Fees paid for services performed by others. They’re added to the moving bill.
    • Bill of lading. The document for shipping goods.
    • Claim. The written statement requesting reimbursement for a lost or damaged item.
    • Contract number. Identifying number of a shipment. It’s found on the order for service and the bill of lading.
    • Consignee. The person at the destination receiving goods shipped by someone else.
    • Delivery spread. The period when a mover will deliver household goods.

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  • Destination agent. The agent who will provide services at the destination.
  • Flight charge. An accessorial charge — for moving goods up flights of stairs.
  • Freight bill. The amount indicating the actual cost of the move.
  • Gross weight. Total weight of the van and the shipment.
  • Linehaul. The transportation portion of the move.
  • Order for service.The document the customer signs authorizing the movement of goods.
  • Origin agent. The agent responsible for the packing and loading of goods.
  • Pickup spread. The period during which the mover will pick up goods.
  • Storage-in-transit (SIT). Temporary storage of household goods for not more than 90 days.
  • Tare weight. Weight of the van before loading.
  • Tariff. Price schedule on file with the Interstate Commerce Commission.
  • Valuation. The value the customer places on the goods when releasing them to the carrier.

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Why ReFi? | Five Great Reasons To Refinance Today | Wilmington NC real estate

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There are plenty of reasons for a homeowner to refinance a current mortgage. Lowering a monthly payment is probably the most popular reason, but there are others. Do you want to pay off your loan more quickly? Has your credit rating improved since you bought your home, allowing you to now get a better rate? Do you want to put some of your equity to work in other ways? Each reason leads to a different way of thinking about refinancing.Many homeowners start thinking about refinancing when the current interest rate is lower than their mortgage-loan rate. Traditionally, homeowners have been advised to follow the “2-2-2 rule” when considering refinancing. This rule of thumb says your new interest rate should be at least 2 percentage points below your current rate. You should have lived in the home at least 2 years. And, you should be planning to stay at least 2 more years.

Although the “2-2-2 rule” is good advice in many cases, you should decide for yourself (with some professional advice!) what’s best in your situation. If the market doesn’t allow you to refinance into a lower-rate mortgage, you may still have a reason to change loans.

Some homeowners want to extend a 15-year loan into a 30-year plan to lower their monthly costs. Other homeowners who don’t plan to move for 5 years or more may benefit from a new mortgage even if it is only 1 percentage point lower than the old one.

Imagine you had a $200,000 mortgage at 8% over 30 years with a payment of $1,467 per month. If the loan amount is down to $175,500 (after making payments for about 10 years), you could use one of these strategies to lower your payment:

1. Lower Rate.

One method is to seek out a lower interest rate for the balance of $175,500. By lowering the interest rate to 7%, but maintaining the current payment schedule (20 more years of payments in the above example) your payment would drop to about $1,361 and the loan would still be retired at the original 30-year mark.

2. Longer Term.

Another way to lower your payment would be to prolong the length of the amortization. For instance, by getting a new 30-year mortgage for $175,500 at the 10-year mark, your payment would drop to $1,167 (at 7%).

3. Cash Out.

Some homeowners pull equity out of their properties for home improvement, vacation, college costs, big-ticket purchases or to consolidate debt. Especially when interest rates are rising or stable, cashing-out is often the primary reason for refinancing.

4. Change Loan Type.

Other folks refinance in order to change the type of loan they are paying off. Some homeowners grow uncomfortable with the variability of adjustable-rate mortgages and would rather have a fixed-rate loan. Others need to reduce monthly expenses and choose an adjustable-rate loan to lower their payment.

5. Shorter Term. The rates are still around 4%

Sharpen Your Pencils!
Determining how much you can afford to finance in today’s market requires careful consideration and a bit of math. If you are thinking about refinancing an existing mortgage or buying a home, use these charts to help you plan. Then call us, so we can answer your questions and help you take the next step!
Monthly Payment: How much can you afford?
Lenders will usually allow you to spend 28% of your total–or gross–monthly income to make mortgage payments of principal, interest, taxes and insurance. The table below shows how much 28% is at various income levels.
Annual Income Gross Monthly Income Affordable Monthly Payment**
$20,000 $1,667 $467
$25,000 $2,083 $583
$30,000 $2,500 $700
$35,000 $2,917 $817
$40,000 $3,333 $933
$45,000 $3,750 $1,050
$50,000 $4,167 $1,167
$60,000 $5,000 $1,400
$70,000 $5,833 $1,633
$80,000 $6,667 $1,867
$100,000* $8,333 $2,333
*For incomes over $100,000, add together the two appropriate columns.
Loan Amount: How much can you plan to borrow?
Once you know how much you can afford monthly, use this table to estimate how much you can borrow. Add your down payment to get an approximate house-hunting price range.
Monthly Payment** 5% 7% 9% 11%
$467 86,995 70,194 58,040 49,038
$583 108,603 87,630 72,457 61,219
$700 130,399 105,216 86,998 73,505
$817 152,194 122,802 101,539 85,791
$933 173,803 140,237 115,956 97,971
$1,050 195,598 157,823 130,497 110,257
$1,167 217,393 175,409 145,038 122,543
$1,400 260,797 210,431 173,995 147,009
$1,633 304,201 245,453 202,953 171,476
$1,867 347,791 280,625 232,035 196,047
$2,333 434,599 350,668 289,951 244,980
**Principal and interest only; taxes, insurance and any homeowner fees not included. These will raise your monthly payment and reduce the amount of principal and interest and total loan amount you can afford. Loan amounts are based on a 30-year fixed-rate mortgage. For incomes over $100,000, add together the two loan amounts and add your down payment.

Yet another reason for refinancing is to shorten the term of your current mortgage. If your income has grown substantially and you’re happy living in the same home, you could reduce the length of your loan by simply refinancing to a shorter-term mortgage with a smaller balance but higher payment. Using the above example again, a $175,500 loan paid off in 15 years at 8% would cost you $1,677 each month (about $200 more than for the original loan), but the loan would be paid off relatively quickly–saving you thousands of dollars in interest payments.
Whatever you decide, be sure to weigh the costs of refinancing carefully. A lower monthly payment may help your cash flow, but is it going to cost you too much up-front to make sense? Be sure you’ll live in the home long enough to recoup the expenses associated with refinancing–points, closing costs and fees.

Categories: Buying Wilmington NC real estate, Refinance, Uncategorized, wilmington nc real estate, Wilmington nc schools, worlds largest christmas tree

Thinking that Winter is the Wrong Time to Sell your Home? | Not so in Wilmington NC!

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 Are you thinking about selling your home and are worried that it is not the right time of year to sell?  Well, the buyers are out there and the inventory of homes is down.  During the first week of January, Coldwell Banker Sea Coast Advantage wrote 88 contracts with over 16 million in sales.  Just this weekend our Kay Baker and Associates Team wrote 7 contracts!  Call us and let us help you get started with the process of selling your home.  These are a couple of hints that will help you get started.

Please visit the Seller section of our website – http://www.cbbaker.com/selling.php
You can also search your neighborhood online to get a peek at your competition.  Let’s get going…

TAKE ONE:

How To Package Your Home To Sell

After a full day of house hunting, even the hardiest shopper has difficulty remembering each home visited. A selling display featuring your property’s benefits is a great way to be sure your home stands out in the shopper’s memory. We’ve used the following marketing strategies to successfully sell many homes. They could work for you too!

Creativity Counts

{short description of image}Your home’s memory points can be mounted attractively on a poster or in a looseleaf binder or photo album and displayed on your dining table or near the front door.Home shoppers appreciate a memory-jogging take-home flyer, summarizing the display information for later study. The flyer should always include the property address, price, brief description and agent’s name and phone number.

Focus On Features

Each home will have its own outstanding features. When we talk about a marketing strategy for your home, we will consider what to include in your display and on the flyer. Here are some worthwhile ideas:

Capital improvements.

Include project description, year completed and your investment in the improvements.

Upgrades or replacements.

List new appliances, paint, wallpaper, attic fan — anything you’ve accomplished that buyers won’t have to do after move-in. Mention special features and benefits. For example: “Easy-care kitchen range with self-cleaning oven, sealed burners, electronic ignition, digital controls; 1992.”

Energy-saving features.

Cite money-saving extra insulation, high-efficiency heating/cooling system, thermal double-pane windows, etc.

Average annual utility bills.

Also mention affordable property taxes. Buyers want to know!

Floor plan.

Show room arrangement and dimensions. New-home builders and renovators can often provide floor plans, or one can be drawn for your home.

House illustrated.

Picture your home in your display and on the flyer. Architect’s renderings may be available from the original builder.

Gardening highlights.

Sketch the landscaping plan to show the work you’ve done. Identify trees and plants, especially if you have unusual ones. Provide photos of bushes and flowers in full bloom, if you’re selling off-season.

Pre-listing home inspection report.

Impress buyers with proof of your home’s excellent condition. Show receipts for correcting any problems the inspector noted.

Neighborhood map.

Highlight nearby schools, convenient transportation, shopping, parks, libraries, hospitals, and any other amenities or points of interest. Your kids can help color the map!

School data.

Feature excellent schools. Mention honors and awards, good student-teacher ratios, sports and athletics, drama presentations, and special programs (i.e. for learning disabilities or English as a second language).

Neighborhood information.

List neighborhood association dues (if any), annual community events, Neighborhood Watch programs, and the like. If yours is a friendly, quiet neighborhood, be sure buyers know it!

Community services.

Include helpful information such as days for recyclable-material and bulk trash pick-ups, availability of swimming pools, children’s summer day-camps, adult education, and so on.

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Wilmington NC Does It Again | First in Country to use White Space Network | Wilmington NC real estate

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New Hanover County loves technology… The New Hanover County government is on the cutting edge of new technological advances by utilizing the TV White Space that was abandoned in 2008 with the national launch of digital TV.  Wilmington was the first test city for the use of the non analog device.  The FCC laid ground rules concerning the use of the White Space Spectrum and New Hanover County is the first to utilize the technology.  The first commercial installation of the White Space network was set up at Hugh McCrae park. Phase 2 will include other parks and gardens such as Vetarans Park and Airlie Gardens.  Wi Fi on caffeine will be available.

“Community leaders have been eager to keep the area in the race to develop new technologies and uses since the FCC chose the local television market as the first in the country to transition to digital TV.  New Hanover County and Wilmington are also noted in the FCC’s National Broadband plan as a model of the usability of the spectrum.

New Hanover County has provided network IP cameras, Wi-Fi routers, antennas and other hardware as well as technical installation of the new FCC approved radios.  New Hanover County, city of Wilmington and TVBS have been using white spaces for a number of business applications already, including water quality monitoring and security purposes.

Chaney says the county and city governments collaborated on a pilot project that provided Wi-Fi and video surveillance in the Creekwood housing development.  The county is also using white space to automate the collection of water quality data in environmentally sensitive areas that would have required trenching of wires.

In testing white space, Chaney says “We see ranges of up to 1.5 miles on a point-to-point application of the spectrum including signal propagation through vegetation and buildings.  Installing these newly approved radios and appropriate antennas could allow wireless service far beyond traditional boundaries.”

Categories: Realtor tips, Uncategorized, white space network, white space technology, Wilmington NC Neighborhoods, wilmington nc real estate, worlds largest christmas tree, Wrightsville Beach NC

The Spirit of Christmas is to Give of Yourself …

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Merry Christmas from Our House to Yours.

Spend time with family and friends, enjoy them richly.  Along the way find a way to help new friends.  This is the time of year that we must remember that it is the giving that is so rewarding.  Giving of your time, crafts, good deeds and helping others.

 

 

 

I have always thought of Christmas time, when it has come round, as a good time; a kind, forgiving, charitable time; the only time I know of, in the long calendar of the year, when men and women seem by one consent to open their shut-up hearts freely, and to think of people below them as if they really were fellow passengers, and not another race of creatures bound on other journeys. 

~Charles Dickens

Christmas is a necessity.  There has to be at least one day of the year to remind us that we’re here for something else besides ourselves.  ~Eric Sevareid

Never worry about the size of your Christmas tree.  In the eyes of children, they are all 30 feet tall.  ~Larry Wilde

Christmas is the season for kindling the fire of hospitality in the hall, the genial flame of charity in the heart.  ~Washington Irving

Remember
This December,
That love weighs more than gold!
~Josephine Dodge Daskam Bacon

Categories: ability park, Merry Christmas Wilmington Nc, Uncategorized, Wilmington NC Neighborhoods, wilmington nc real estate, wilmington nc weekly events, worlds largest christmas tree, Wrightsville Beach NC

Wilmington NC Miracle Field | Wilmington NC real estate

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Wilmington NC is getting  a Miracle Field for the new Miracle League.  Accessible Coastal Carolina Events Sports and Services (ACCESS) was started to bring the field to the area. “The overall mission of ACCESS is to not only provide an opportunity for those who have not yet had the chance to experience the power of play and the joy of sports but to also show the importance of inclusion within a community. Creating a place where people of all ages, races, and abilities can actively participate together, will naturally allow relationships to develop as people share interest. More importantly it is opening the door to a better world for everyone.” The Miracle League was started in the late 1990′s in Rockdale Youth Baseball program in Atlanta.  They recognized the need to include all children in a sport regardless of their abilities.  Hence the Miracle Field was started.  People of all abilities and ages could play baseball.  Eventually the fields were made to  have a rubber, non-latex surface that is helpful and safe for persons with any mobility difficulties.  The Wilmington area is excited to participate in such a wonderful project.  The fields will be built at Olson Fields off Murrayville Road. There will be playgrounds for all abilities and restrooms.  The project has raised 87.5% of it’s goal of 1.2 million dollars.  If you would like to donate in someones name as a gift for Christmas, what a great way to honor them.  The Miracle Field is truly a “miracle”  Please watch this video of the Wilmington Miracle Field.  For more information or to donate online, please visit www.miracleleaguewilm.org/

YouTube Preview Image

Categories: ability park, Miracle Field, miracle league, Uncategorized, wilmington nc real estate, worlds largest christmas tree

PRICING: Beat Your Competition To The Contract | Wilmington NC real estate

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PRICING:

Beat Your Competition To The Contract

To sell your home quickly for top dollar in today’s market, the best move you can make is to price the property at its current market value. When you set the right price on your home, you have an edge on your competition.

Here’s how setting the right price helps you:

You tap the pent-up demand of buyers who have already seen everything on the market and are waiting for new home listings.

You target the right group of prospects — the ones who can afford your home and are looking at similar properties.

Your home will compare favorably with other homes potential buyers see because yours will look better than overpriced homes in your category.

Perils Of Overpricing

Overpricing your home gives the advantage to your competition — the other homes on the market. The buyers you want to attract won’t see your home because they are only looking at homes listed in their price range.

Prospective buyers who do see your home realize they can get a better deal elsewhere. If it’s your home they want, they may choose to wait until you lower the price. And if you do reduce the price, other potential buyers wonder why the home has been on the market so long.

The right price is determined by the size, condition and location of your home, what comparable homes are selling for at the time you list yours, and the balance of supply and demand in your area.

Strategic Pricing

{short description of image}Setting the best price to list your home is part science, part art. There are several aspects of the home’s value we consider when making pricing recommendations.

1. Comparison. Where does your home fit in the Wilmington NC marketplace? It should be priced to be competitive with comparable homes in the same area.

2. Negotiation. The price should allow some space to make concessions in order to close the deal.

3. Return. The listing price should be set so you net the most money possible from the sale.

4. Target. Ideally, the price is adjusted to the top of a multiple listing category, so the home’s features compare favorably with lower-priced homes in the range. (If it is placed at the bottom of the next higher price grouping, the higher-priced homes will look better and sell more quickly.)

Other Factors

Unfortunately, what you paid for your home is not a factor in determining its market value. Neither is what you would like to get out of the home. Some home improvements you’ve made may add to the market value, however. Having the home in picture-perfect condition from the first day of the listing may also increase the value of your home. But mostly, these will help you sell faster, and that could mean a sale price close to your asking price.

Call us to find out more about how you can price your Wilmington NC real estate to sell it quickly. We’ll be happy to conduct a FREE market analysis to find the best price for listing your home.

Categories: certified distressed property expert, How to price a home, Price your home to sell, Uncategorized, Wilmington NC Market Statistics, Wilmington NC Neighborhoods

Just Released | Coldwell Banker Sea Coast and Coldwell Banker Advantage to Merge | Wilmington NC real estate

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For Release November 17, 2011

Merger of Two Top-Selling Coldwell Banker Franchises Creates State’s Third-Largest Residential Real Estate Brokerage Two of the top-selling Coldwell Banker franchises in North Carolina have joined forces, creating the state’s third-largest residential real estate brokerage company. The merger of Coldwell Banker Sea Coast Realty of Wilmington and Coldwell Banker Advantage of Raleigh and Fayetteville creates a regional powerhouse with a sales team of more than 600 agents and 26 sales offices in Raleigh, Wilmington, Fayetteville, Jacksonville and other Eastern North Carolina markets. The two companies combined to generate more than $1.3 billion in sales volume from 6,500 real estate transactions in 2010, which would have ranked the merged company as the state’s third-largest brokerage, according to REAL Trends, a real estate industry trade magazine. Those totals would also have ranked among the top 55 brokerages in the country in sales volume and among the top 75 in transactions, according to the magazine. The two companies are on track to surpass last year’s sales and transactions totals in 2011, having already exceeded $1 billion in sales and 6,000 transactions through October, according to statistics provided by local offices of the Multiple Listing Service (MLS). The merger was announced by Coldwell Banker Real Estate Corporation CEO Jim Gillespie on Thursday, November 17th in separate news conferences in Raleigh and Wilmington. “Today’s merger creates the fifth largest Coldwell Banker affiliated company in North America,” Gillespie said. “Coldwell Banker Advantage and Coldwell Banker Sea Coast Realty have been long-time members of the Coldwell Banker Chairman’s Circle, representing the best-of-the-best of our great brand,” he said. The new company – to be called Coldwell Banker Sea Coast Advantage – will be led by co-CEOs Tim Milam of Sea Coast Realty and Gary Rabon of Advantage. “This is a true merger of equals,” Milam said. “It is not an acquisition. I want to emphasize that in the strongest possible terms. All owners of both companies will remain owners with the new company. Neither company is buying the other. Instead we’re joining forces to compete more effectively in today’s challenging marketplace. “Gary and I have been friends for years,” he added. “Our companies have been built on similar values and culture. We’ve talked about merging for at least the last five years, and finally decided this summer the time was right to get it done.” Rabon added: “This is a merger where both companies are strengthened. It builds our regional footprint and enables us to do an even better job of supporting our team of brokers and agents in the field. It also creates a lot of synergies in terms of marketing, training and technology.” The merger brings together two companies that have dominated their respective markets. SeaCoast Realty is currently the number one brokerage in Wilmington, Brunswick County, Topsail and Jacksonville with over 23 percent of the market. Advantage, meanwhile, ranks number four in Raleigh and number one in Fayetteville, according to MLS statistics. Both have emerged as leaders in North Carolina’s fast-growing military market, with strong positions among military families in Fayetteville and Jacksonville – home of Fort Bragg and Camp LeJeune, respectively. The merged companies will also have an advantage in serving the two-way traffic between the Raleigh/Research Triangle and the Wilmington/Wrightsville Beach markets, Rabon said. “There’s a lot of cross-pollination on I-40 in both directions,” he said. “Triangle families are looking in Wilmington area for second-home opportunities, while a lot of Wilmington area families are looking to move to the Triangle for job opportunities. “The merger gives us an even better connection to this growing segment of the market, one that we are both going to capitalize on.” CONTACT: Tim Milam Coldwell Banker Sea Coast Advantage (910) 202 2501 Gary Rabon Coldwell Banker Sea Coast Advantage (919) 846 3305

Welcome Coldwell Banker Advantage, we look forward to working with you. Kay Baker and Associates – www.cbbaker.com

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Categories: Uncategorized, Wilmington NC Market Statistics, Wilmington NC Neighborhoods, wilmington nc real estate

11.1.11 Veterans Day | Take a moment and thank a Vet

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 11.11.11

Happy Veterans Day.  A huge thank you for all of you that have served or are serving our great Country.  We would not have the rights and privileges that we enjoy today without your selfless service.  According to the Department of Veterans Website the history of Veterans Day started after  World War I – known at the time as “The Great War” – officially ended when the Treaty of Versailles was signed on June 28, 1919, in the Palace of Versailles outside the town of Versailles, France. However, fighting ceased seven months earlier when an armistice, or temporary cessation of hostilities, between the Allied nations and Germany went into effect on the eleventh hour of the eleventh day of the eleventh month. For that reason, November 11, 1918, is generally regarded as the end of “the war to end all wars.”

Veterans Day continues to be observed on November 11, regardless of what day of the week on which it falls. The restoration of the observance of Veterans Day to November 11 not only preserves the historical significance of the date, but helps focus attention on the important purpose of Veterans Day: A celebration to honor America’s veterans for their patriotism, love of country, and willingness to serve and sacrifice for the common good.

Categories: 1.11.11, Uncategorized

Inventory Yourself | Wilmington NC real estate

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INVENTORY:

How Do You Prove You Had It………

When You Don’t Have It Anymore?

Have you counted your silverware lately? Cataloged your coin collection? Inventoried your attic treasures? If you lost them, would you be able to prove to your insurance company you actually possessed what you say you owned? Could you prove how much those lost items were worth? There are lots of ways you could lose some or all of your possessions–flood, fire or other natural disaster, moving, burglary. In attempting to recover your losses, having a comprehensive inventory on hand could be worth many thousands of dollars.

Here are some suggestions for compiling and storing a household inventory.

  • Ask your insurance company for a room-by-room form to help you make your inventory or use a computer software program designed for the same purpose.
  • Do your counting while you’re in the process of spring or fall cleaning–or as you move from one home to another.
  • Work in small doses, one room at a time.
  • Be as specific as possible in your listing. Note the date of purchase and the purchase price. Describe the item in detail, including serial number.
  • Some items increase in value over time. Be sure to get updated appraisals on antiques, jewelry and other valuables periodically.
  • If you’ve kept purchase receipts–always a good idea, especially for big-ticket items–keep them with your inventory.
  • To supplement your description, make photographs or a video of your things.
  • Update your inventory at least annually and when you purchase more-expensive items.
  • Make a copy of your inventory, keeping one at home and placing the other one in a safe place elsewhere–perhaps in a safe deposit box or with a relative.

TIPS
Check with your insurance company about getting replacement-cost coverage if you don’t already have it. Rather than giving you the depreciated value of a lost or damaged item, for a slightly higher premium replacement-cost coverage will give you the full amount necessary to buy a similar new item at current prices.

Also, note the limits on your policy for various types of items. If, for example, you own jewelry worth in excess of the policy’s limit for jewelry, talk with your agent about picking up a rider policy to cover the full worth.

You have spent your lifetime making your home a home.  Keep it that way.  For all the latest Wilmington NC real estate trends, please visit www.cbbaker.com

 

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Kay Baker | 1001 Military Cutoff Rd. | Ste 101 Wilmington, NC 28405 | kaybaker@seacoastrealty.com | 910-232-0363 | Fax: 910-256-0473

Copyright © 2012 Wilmington NC Real Estate Guide. All rights reserved. Disclaimer: All content on this blog is my own opinion and should not be treated as fact or relied upon when purchasing or selling real estate.