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“The luxury market is slowing down,” said Kersten Bowman, an agent with Corcoran Reverie in Destin, Florida. “It used to be that sellers would put up their house and whatever they wanted, they got it—all cash, buyers waiving appraisals. Now I’m finding that buyers are becoming more aware of their ability to negotiate, and are able to negotiate things like longer inspection periods versus waiving them.” Bowman added, “We had a huge influx of cash buyers from California and Texas, and now that they’re situated, the market is catering more toward mortgages versus cash, which is a reality check.”
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