ADVERTISING SUPPLEMENTSales Rise Evenas Home PriceHits Record HighCharacteristics of HomesellersThe typical homeseller nationwide this year was 57 years old,with a median household income of $102,900, and had lived inthe home for 10 years before selling it, which was an increasefrom the historical tenure of six years, a study reported recently.Home sellers said they ultimately sold their homes for a median of $60,000more than their original purchase price. For all sellers, the most frequentlycited reason for selling, according to 16 percent of those surveyed, was a desireto move closer to family and friends, which is the first time this has been thetop-cited reason in the historyof the annual "Profile of HomeBuyers and Sellers" produced bythe National Association of Re-altors. The next most commonreason was that the home wastoo small, and the third was jobrelocation at 11 percent.Sixty-six percent of sellersreported being "very satisfiedwith the overall selling processOnly 8 percent of recently soldhomes were for-sale-by-ownersales, or FSBO.This total isnear the lowest share recordedsince the NAR began collectingrecords in 1981. FSBOS typicallysell for less than other residences, selling last year at a median of $200,000,while agent-assisted homes sold at a median at $280,000.Forty-eight percent of all sellers said they bought a home that wasnewer than their previous home, while 28 percent purchased a home of thesame age and 24 percent said they purchased a home that was olderForty-four percent of sellers said they "traded-up" and purchased a homethat was more expensive than the one they just sold. Thirty percent purchaseda less expensive home and 26 percent purchased a home that was similar incost. Sellers who are 64 years of age and younger generally bought a moreexpensive home than the one they just sold.Those aged 18 to 34 purchased the most expensive trade-ups in 2019, reconding an increase of $110,000. Conversely, sellers aged 65 and over typicallybought a less expensive home.Southland Regional Association of RealtorsThe median price of single-family homes sold during Octoberin the San Fernando Valley hit arecord high $755,000, up 11.4percent from a year ago, theSouthland Regional Associationof Realtors reported Friday.It handily beatthe prior recordof $735,000set in July andmarked the fifthconsecutivemonth with themedian priceabove the onceSOUTHLAND REGIONALASSOCIATION OF REALTORS', INc.refinancing or remodeling," saidTim Johnson, the Association's chiefexecutive officer. "People are lockedout of the market or locked in place byCalifornia's severe housing shortage."Yet even with those limitations, the462 homes and 167 condominiumsthat changed owners during Octoberrepresented a 2.2 percent and 22.8percent increase from a year ago2019 PROFILE OF HOMEBUYERS AND SELLERSmonthly drop in the number of homeslisted for sale on the Associationoperated Multiple Listing Service.The 1,100 active listings at the end ofthe month were down 31.3 percentfrom a year ago and represented a mere1.7-month supply at the current paceof salesThat total is closer to the record lowof 819 listings reported in DecemberRealtor Dan Tresiemas impenetrable2019 SRAR President benchmark of$700,000The median price is the midpointof all sales, with half the homes salesposting a higher price and halflower.There's plenty of buyer resistanceto higher prices, but truly motivatedbuyers understand that opportunitiesto buy are growing ever more scarce,"said Dan Tresiemas, president of theSouthland Regional Association ofRealtors. "Interest rates at their lowestpoint in three years help offset someof the impact of high prices, but we'reonce again starting to see a dwindlingsupply of properties for sale."From August 2018 through Maythe inventory grew sometimes bymore than 40 percent per month. Butin June that trend reversed.October was the fifth consecutive2019 October Home Median Price at Record $755,000s800,000San Fernando Valley-Singlefamily HomesSouro-Souiand Reonal Asiodation of REALTORS50,000s00,000$650,000s600,000$550,000$500,000Mash AprtOFabMayneAgSeptNovDecw20 S75000 7000 5000 s000 S22000 573500e 58000 5000 5550000c5600S00000 0 s 00 s000550oe S 0000 S0005.0002007 0000o0001s00so s00 000050oe s0,000 00 0 ,000 o0Reordigh Ss000-0ber 20owS00- 201The Southland Regional Association of Realtors is a local trade association with more than10.300 members serving the San Femandoand Santa Ctarita Valeys. SRAR s one of thelagest local associations in the nation2017 than the record high 14,976 list-ings in July 1992.Owners who in generations pastwould have been selling, now areSPONSOR ACHILD IN NEEDHome Price Surge Due toMismatch in Supply, DemandShrinking inventory stifled Califormia homesales and added pressure on prices in Oc-tober, the Califormia Association of Realtorsreported recently.October's seasonally adjusted annualized rate of 404,240sales was up 1.9 percent from October 2018s revised396,720 closed escrowsThe Califomia housing market continued to see gradualimprovement in recent months as the current mortgageenvironment remains favorable to those who want to buy ahome,"said 2020 CA.R. President Jeanne Radsick. "Addi-tionally, the condominium loan poicies that went into effectmid-October could help buyers for whom single-familyhomes are out of reach.The median price of $605,280 in October was up 6.0percent from $571,070 in October 2018, marking theseventh consecutive month that the median price remainedabove the S600,000 benchmark The annual price gain wasthe largest since July 2018"The latest surge in home prices is the consequence of anongoing mismatch between supply and demand" said Leslie Appleton-Young, C.A.R.s senior vice president and chicfeconomist. "While low interest rates will reduce borow-ing costs for buyers and temporarily alleviate affoedabilityconcems at the micro level, without an increase in housingsupply-including new housing construction for sale orrent fundamental issues remain at the macro level, whichwill worsen the affordability crisis down the road.The 30-year, fixed-rate mortgage interest rate aver-aged 3.69 percent in October, down from 4.83 percent inOctober 2018, according to Freddie Mac. It was the largestdecline in any 12-month period since November 2009.Thefive-year, adjustable mortgage interest rate was an average of3.38 percent, compared to 4.08 percent in October 2018.$25fah ye wh von sAR Cw SRAR w calw S Fema y p m a e teyHdey openib o we SAR O No o thywie ooS Cl, nd pd wi pts y wi yaorby ingf te chi T to p ddayEd ThoGco for dsdTHE VOICE FOR REAL ESTATE IN THE SAN FERNANDO AND SANTA CLARITA VALLEYSwww.SRAR.com | Real Estate Questions? E-mail Dan Tresierras, SRAR 2019 President, c/o DavidW@SRAR.comREALTORS is a federaly registered collective membership mark which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS@ and subscribes to its strict Code of EthicsEALTOR ADVERTISING SUPPLEMENT Sales Rise Even as Home Price Hits Record High Characteristics of Homesellers The typical homeseller nationwide this year was 57 years old, with a median household income of $102,900, and had lived in the home for 10 years before selling it, which was an increase from the historical tenure of six years, a study reported recently. Home sellers said they ultimately sold their homes for a median of $60,000 more than their original purchase price. For all sellers, the most frequently cited reason for selling, according to 16 percent of those surveyed, was a desire to move closer to family and friends, which is the first time this has been the top-cited reason in the history of the annual "Profile of Home Buyers and Sellers" produced by the National Association of Re- altors. The next most common reason was that the home was too small, and the third was job relocation at 11 percent. Sixty-six percent of sellers reported being "very satisfied with the overall selling process Only 8 percent of recently sold homes were for-sale-by-owner sales, or FSBO.This total is near the lowest share recorded since the NAR began collecting records in 1981. FSBOS typically sell for less than other residences, selling last year at a median of $200,000, while agent-assisted homes sold at a median at $280,000. Forty-eight percent of all sellers said they bought a home that was newer than their previous home, while 28 percent purchased a home of the same age and 24 percent said they purchased a home that was older Forty-four percent of sellers said they "traded-up" and purchased a home that was more expensive than the one they just sold. Thirty percent purchased a less expensive home and 26 percent purchased a home that was similar in cost. Sellers who are 64 years of age and younger generally bought a more expensive home than the one they just sold. Those aged 18 to 34 purchased the most expensive trade-ups in 2019, re conding an increase of $110,000. Conversely, sellers aged 65 and over typically bought a less expensive home. Southland Regional Association of Realtors The median price of single-fam ily homes sold during October in the San Fernando Valley hit a record high $755,000, up 11.4 percent from a year ago, the Southland Regional Association of Realtors reported Friday. It handily beat the prior record of $735,000 set in July and marked the fifth consecutive month with the median price above the once SOUTHLAND REGIONAL ASSOCIATION OF REALTORS', INc. refinancing or remodeling," said Tim Johnson, the Association's chief executive officer. "People are locked out of the market or locked in place by California's severe housing shortage." Yet even with those limitations, the 462 homes and 167 condominiums that changed owners during October represented a 2.2 percent and 22.8 percent increase from a year ago 2019 PROFILE OF HOME BUYERS AND SELLERS monthly drop in the number of homes listed for sale on the Association operated Multiple Listing Service. The 1,100 active listings at the end of the month were down 31.3 percent from a year ago and represented a mere 1.7-month supply at the current pace of sales That total is closer to the record low of 819 listings reported in December Realtor Dan Tresiemas impenetrable 2019 SRAR President benchmark of $700,000 The median price is the midpoint of all sales, with half the homes sales posting a higher price and halflower. There's plenty of buyer resistance to higher prices, but truly motivated buyers understand that opportunities to buy are growing ever more scarce," said Dan Tresiemas, president of the Southland Regional Association of Realtors. "Interest rates at their lowest point in three years help offset some of the impact of high prices, but we're once again starting to see a dwindling supply of properties for sale." From August 2018 through May the inventory grew sometimes by more than 40 percent per month. But in June that trend reversed. October was the fifth consecutive 2019 October Home Median Price at Record $755,000 s800,000 San Fernando Valley-Singlefamily Homes Souro-Souiand Reonal Asiodation of REALTORS 50,000 s00,000 $650,000 s600,000 $550,000 $500,000 Mash Aprt O Fab May ne Ag Sept Nov Dec w20 S75000 7000 5000 s000 S22000 573500e 58000 5000 555000 0c5600S00000 0 s 00 s000550oe S 0000 S0005.000 2007 0000o0001s00so s00 000050oe s0,000 00 0 ,000 o0 Reordigh Ss000-0ber 20owS00- 201 The Southland Regional Association of Real tors is a local trade association with more than 10.300 members serving the San Femando and Santa Ctarita Valeys. SRAR s one of the lagest local associations in the nation 2017 than the record high 14,976 list- ings in July 1992. Owners who in generations past would have been selling, now are SPONSOR A CHILD IN NEED Home Price Surge Due to Mismatch in Supply, Demand Shrinking inventory stifled Califormia home sales and added pressure on prices in Oc- tober, the Califormia Association of Realtors reported recently. October's seasonally adjusted annualized rate of 404,240 sales was up 1.9 percent from October 2018s revised 396,720 closed escrows The Califomia housing market continued to see gradual improvement in recent months as the current mortgage environment remains favorable to those who want to buy a home,"said 2020 CA.R. President Jeanne Radsick. "Addi- tionally, the condominium loan poicies that went into effect mid-October could help buyers for whom single-family homes are out of reach. The median price of $605,280 in October was up 6.0 percent from $571,070 in October 2018, marking the seventh consecutive month that the median price remained above the S600,000 benchmark The annual price gain was the largest since July 2018 "The latest surge in home prices is the consequence of an ongoing mismatch between supply and demand" said Les lie Appleton-Young, C.A.R.s senior vice president and chicf economist. "While low interest rates will reduce borow- ing costs for buyers and temporarily alleviate affoedability concems at the micro level, without an increase in housing supply-including new housing construction for sale or rent fundamental issues remain at the macro level, which will worsen the affordability crisis down the road. The 30-year, fixed-rate mortgage interest rate aver- aged 3.69 percent in October, down from 4.83 percent in October 2018, according to Freddie Mac. It was the largest decline in any 12-month period since November 2009.The five-year, adjustable mortgage interest rate was an average of 3.38 percent, compared to 4.08 percent in October 2018. $25 fah ye wh von sAR Cw SRAR w cal w S Fema y p m a e teyHdey openi b o we SAR O No o thywie oo S Cl, nd pd wi pts y wi y a orby ingf te chi T to p dday Ed ThoGco for d sd THE VOICE FOR REAL ESTATE IN THE SAN FERNANDO AND SANTA CLARITA VALLEYS www.SRAR.com | Real Estate Questions? E-mail Dan Tresierras, SRAR 2019 President, c/o DavidW@SRAR.com REALTORS is a federaly registered collective membership mark which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS@ and subscribes to its strict Code of Ethics EALTOR

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ADVERTISING SUPPLEMENT Sales Rise Even as Home Price Hits Record High Characteristics of Homesellers The typical homeseller nationwide this year was 57 years old, with a median household income of $102,900, and had lived in the home for 10 years before selling it, which was an increase from the historical tenure of six years, a study reported recently. Home sellers said they ultimately sold their homes for a median of $60,000 more than their original purchase price. For all sellers, the most frequently cited reason for selling, according to 16 percent of those surveyed, was a desire to move closer to family and friends, which is the first time this has been the top-cited reason in the history of the annual "Profile of Home Buyers and Sellers" produced by the National Association of Re- altors. The next most common reason was that the home was too small, and the third was job relocation at 11 percent. Sixty-six percent of sellers reported being "very satisfied with the overall selling process Only 8 percent of recently sold homes were for-sale-by-owner sales, or FSBO.This total is near the lowest share recorded since the NAR began collecting records in 1981. FSBOS typically sell for less than other residences, selling last year at a median of $200,000, while agent-assisted homes sold at a median at $280,000. Forty-eight percent of all sellers said they bought a home that was newer than their previous home, while 28 percent purchased a home of the same age and 24 percent said they purchased a home that was older Forty-four percent of sellers said they "traded-up" and purchased a home that was more expensive than the one they just sold. Thirty percent purchased a less expensive home and 26 percent purchased a home that was similar in cost. Sellers who are 64 years of age and younger generally bought a more expensive home than the one they just sold. Those aged 18 to 34 purchased the most expensive trade-ups in 2019, re conding an increase of $110,000. Conversely, sellers aged 65 and over typically bought a less expensive home. Southland Regional Association of Realtors The median price of single-fam ily homes sold during October in the San Fernando Valley hit a record high $755,000, up 11.4 percent from a year ago, the Southland Regional Association of Realtors reported Friday. It handily beat the prior record of $735,000 set in July and marked the fifth consecutive month with the median price above the once SOUTHLAND REGIONAL ASSOCIATION OF REALTORS', INc. refinancing or remodeling," said Tim Johnson, the Association's chief executive officer. "People are locked out of the market or locked in place by California's severe housing shortage." Yet even with those limitations, the 462 homes and 167 condominiums that changed owners during October represented a 2.2 percent and 22.8 percent increase from a year ago 2019 PROFILE OF HOME BUYERS AND SELLERS monthly drop in the number of homes listed for sale on the Association operated Multiple Listing Service. The 1,100 active listings at the end of the month were down 31.3 percent from a year ago and represented a mere 1.7-month supply at the current pace of sales That total is closer to the record low of 819 listings reported in December Realtor Dan Tresiemas impenetrable 2019 SRAR President benchmark of $700,000 The median price is the midpoint of all sales, with half the homes sales posting a higher price and halflower. There's plenty of buyer resistance to higher prices, but truly motivated buyers understand that opportunities to buy are growing ever more scarce," said Dan Tresiemas, president of the Southland Regional Association of Realtors. "Interest rates at their lowest point in three years help offset some of the impact of high prices, but we're once again starting to see a dwindling supply of properties for sale." From August 2018 through May the inventory grew sometimes by more than 40 percent per month. But in June that trend reversed. October was the fifth consecutive 2019 October Home Median Price at Record $755,000 s800,000 San Fernando Valley-Singlefamily Homes Souro-Souiand Reonal Asiodation of REALTORS 50,000 s00,000 $650,000 s600,000 $550,000 $500,000 Mash Aprt O Fab May ne Ag Sept Nov Dec w20 S75000 7000 5000 s000 S22000 573500e 58000 5000 555000 0c5600S00000 0 s 00 s000550oe S 0000 S0005.000 2007 0000o0001s00so s00 000050oe s0,000 00 0 ,000 o0 Reordigh Ss000-0ber 20owS00- 201 The Southland Regional Association of Real tors is a local trade association with more than 10.300 members serving the San Femando and Santa Ctarita Valeys. SRAR s one of the lagest local associations in the nation 2017 than the record high 14,976 list- ings in July 1992. Owners who in generations past would have been selling, now are SPONSOR A CHILD IN NEED Home Price Surge Due to Mismatch in Supply, Demand Shrinking inventory stifled Califormia home sales and added pressure on prices in Oc- tober, the Califormia Association of Realtors reported recently. October's seasonally adjusted annualized rate of 404,240 sales was up 1.9 percent from October 2018s revised 396,720 closed escrows The Califomia housing market continued to see gradual improvement in recent months as the current mortgage environment remains favorable to those who want to buy a home,"said 2020 CA.R. President Jeanne Radsick. "Addi- tionally, the condominium loan poicies that went into effect mid-October could help buyers for whom single-family homes are out of reach. The median price of $605,280 in October was up 6.0 percent from $571,070 in October 2018, marking the seventh consecutive month that the median price remained above the S600,000 benchmark The annual price gain was the largest since July 2018 "The latest surge in home prices is the consequence of an ongoing mismatch between supply and demand" said Les lie Appleton-Young, C.A.R.s senior vice president and chicf economist. "While low interest rates will reduce borow- ing costs for buyers and temporarily alleviate affoedability concems at the micro level, without an increase in housing supply-including new housing construction for sale or rent fundamental issues remain at the macro level, which will worsen the affordability crisis down the road. The 30-year, fixed-rate mortgage interest rate aver- aged 3.69 percent in October, down from 4.83 percent in October 2018, according to Freddie Mac. It was the largest decline in any 12-month period since November 2009.The five-year, adjustable mortgage interest rate was an average of 3.38 percent, compared to 4.08 percent in October 2018. $25 fah ye wh von sAR Cw SRAR w cal w S Fema y p m a e teyHdey openi b o we SAR O No o thywie oo S Cl, nd pd wi pts y wi y a orby ingf te chi T to p dday Ed ThoGco for d sd THE VOICE FOR REAL ESTATE IN THE SAN FERNANDO AND SANTA CLARITA VALLEYS www.SRAR.com | Real Estate Questions? E-mail Dan Tresierras, SRAR 2019 President, c/o DavidW@SRAR.com REALTORS is a federaly registered collective membership mark which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS@ and subscribes to its strict Code of Ethics EALTOR ADVERTISING SUPPLEMENT Sales Rise Even as Home Price Hits Record High Characteristics of Homesellers The typical homeseller nationwide this year was 57 years old, with a median household income of $102,900, and had lived in the home for 10 years before selling it, which was an increase from the historical tenure of six years, a study reported recently. Home sellers said they ultimately sold their homes for a median of $60,000 more than their original purchase price. For all sellers, the most frequently cited reason for selling, according to 16 percent of those surveyed, was a desire to move closer to family and friends, which is the first time this has been the top-cited reason in the history of the annual "Profile of Home Buyers and Sellers" produced by the National Association of Re- altors. The next most common reason was that the home was too small, and the third was job relocation at 11 percent. Sixty-six percent of sellers reported being "very satisfied with the overall selling process Only 8 percent of recently sold homes were for-sale-by-owner sales, or FSBO.This total is near the lowest share recorded since the NAR began collecting records in 1981. FSBOS typically sell for less than other residences, selling last year at a median of $200,000, while agent-assisted homes sold at a median at $280,000. Forty-eight percent of all sellers said they bought a home that was newer than their previous home, while 28 percent purchased a home of the same age and 24 percent said they purchased a home that was older Forty-four percent of sellers said they "traded-up" and purchased a home that was more expensive than the one they just sold. Thirty percent purchased a less expensive home and 26 percent purchased a home that was similar in cost. Sellers who are 64 years of age and younger generally bought a more expensive home than the one they just sold. Those aged 18 to 34 purchased the most expensive trade-ups in 2019, re conding an increase of $110,000. Conversely, sellers aged 65 and over typically bought a less expensive home. Southland Regional Association of Realtors The median price of single-fam ily homes sold during October in the San Fernando Valley hit a record high $755,000, up 11.4 percent from a year ago, the Southland Regional Association of Realtors reported Friday. It handily beat the prior record of $735,000 set in July and marked the fifth consecutive month with the median price above the once SOUTHLAND REGIONAL ASSOCIATION OF REALTORS', INc. refinancing or remodeling," said Tim Johnson, the Association's chief executive officer. "People are locked out of the market or locked in place by California's severe housing shortage." Yet even with those limitations, the 462 homes and 167 condominiums that changed owners during October represented a 2.2 percent and 22.8 percent increase from a year ago 2019 PROFILE OF HOME BUYERS AND SELLERS monthly drop in the number of homes listed for sale on the Association operated Multiple Listing Service. The 1,100 active listings at the end of the month were down 31.3 percent from a year ago and represented a mere 1.7-month supply at the current pace of sales That total is closer to the record low of 819 listings reported in December Realtor Dan Tresiemas impenetrable 2019 SRAR President benchmark of $700,000 The median price is the midpoint of all sales, with half the homes sales posting a higher price and halflower. There's plenty of buyer resistance to higher prices, but truly motivated buyers understand that opportunities to buy are growing ever more scarce," said Dan Tresiemas, president of the Southland Regional Association of Realtors. "Interest rates at their lowest point in three years help offset some of the impact of high prices, but we're once again starting to see a dwindling supply of properties for sale." From August 2018 through May the inventory grew sometimes by more than 40 percent per month. But in June that trend reversed. October was the fifth consecutive 2019 October Home Median Price at Record $755,000 s800,000 San Fernando Valley-Singlefamily Homes Souro-Souiand Reonal Asiodation of REALTORS 50,000 s00,000 $650,000 s600,000 $550,000 $500,000 Mash Aprt O Fab May ne Ag Sept Nov Dec w20 S75000 7000 5000 s000 S22000 573500e 58000 5000 555000 0c5600S00000 0 s 00 s000550oe S 0000 S0005.000 2007 0000o0001s00so s00 000050oe s0,000 00 0 ,000 o0 Reordigh Ss000-0ber 20owS00- 201 The Southland Regional Association of Real tors is a local trade association with more than 10.300 members serving the San Femando and Santa Ctarita Valeys. SRAR s one of the lagest local associations in the nation 2017 than the record high 14,976 list- ings in July 1992. Owners who in generations past would have been selling, now are SPONSOR A CHILD IN NEED Home Price Surge Due to Mismatch in Supply, Demand Shrinking inventory stifled Califormia home sales and added pressure on prices in Oc- tober, the Califormia Association of Realtors reported recently. October's seasonally adjusted annualized rate of 404,240 sales was up 1.9 percent from October 2018s revised 396,720 closed escrows The Califomia housing market continued to see gradual improvement in recent months as the current mortgage environment remains favorable to those who want to buy a home,"said 2020 CA.R. President Jeanne Radsick. "Addi- tionally, the condominium loan poicies that went into effect mid-October could help buyers for whom single-family homes are out of reach. The median price of $605,280 in October was up 6.0 percent from $571,070 in October 2018, marking the seventh consecutive month that the median price remained above the S600,000 benchmark The annual price gain was the largest since July 2018 "The latest surge in home prices is the consequence of an ongoing mismatch between supply and demand" said Les lie Appleton-Young, C.A.R.s senior vice president and chicf economist. "While low interest rates will reduce borow- ing costs for buyers and temporarily alleviate affoedability concems at the micro level, without an increase in housing supply-including new housing construction for sale or rent fundamental issues remain at the macro level, which will worsen the affordability crisis down the road. The 30-year, fixed-rate mortgage interest rate aver- aged 3.69 percent in October, down from 4.83 percent in October 2018, according to Freddie Mac. It was the largest decline in any 12-month period since November 2009.The five-year, adjustable mortgage interest rate was an average of 3.38 percent, compared to 4.08 percent in October 2018. $25 fah ye wh von sAR Cw SRAR w cal w S Fema y p m a e teyHdey openi b o we SAR O No o thywie oo S Cl, nd pd wi pts y wi y a orby ingf te chi T to p dday Ed ThoGco for d sd THE VOICE FOR REAL ESTATE IN THE SAN FERNANDO AND SANTA CLARITA VALLEYS www.SRAR.com | Real Estate Questions? E-mail Dan Tresierras, SRAR 2019 President, c/o DavidW@SRAR.com REALTORS is a federaly registered collective membership mark which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS@ and subscribes to its strict Code of Ethics EALTOR

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