News & Events

This Private Island Paradise is up for Auction - and there's No Minimum Bid

 

Have you ever dreamt of owning your own sun-soaked private island? Now's your chance. Heading to auction on March 26th, with no minimum reserve is the opportunity of a lifetime.

Yacht in the water by St Andrews Island, little Ragged Island

Little Ragged Island, one of the largest private island in The Bahamas, is up for auction March 26th

Ringing in at an expansive 730 acres, St. Andrew's, also known as Little Ragged Island, is both the southernmost and the largest private island in the Bahamas currently for sale. Listed exclusively with Bahamas Realty agent, Stuart Halbert, the island is up for auction in collaboration with Concierge Auctions, a US real estate company that auctions luxury properties and has a client list that includes some of the most affluent buyers around the world, and notable celebrities and sportspeople.

Sand flats on Little Ragged Island in The Bahamas

White sand flats and deep waters make this one of the best fishing grounds on the planet - you'll find grouper, snapper, bonefish and many other species in abundant supply.

Surrounded by azure ocean waters and fringed with pristine white sand beaches, the island is breathtaking from first look and presents infinite possibility. Elevation varies from sea level to a hilly 40 feet. The eastern side of the island features deep water access, perfect for large ships to pull up, making it truly ideal for development and construction.

St Andrew's Island aerial - Little Ragged Island is up for Auction

A developers dream, the island has deep water access for large ships and yachts.

A perfect blank canvas of rolling hills, lignum vitae trees, and calm warm waters begs to be painted with your dream project: a picturesque private residential settlement, a crown jewel of a tropical estate with miles of private beaches to wander, or a boutique resort with more than enough acreage left to add an entire 18-hole golf course. The island's possibilities are as limitless as the Atlantic Ocean surrounding it.

The island is a developer's dream, with space for a luxury resort development, deep water access for ships, or even, as CNN points out, room for your very own Bond villain layer. After all, James Bond is famously fond of The Bahamas.

Bidding opens March 26, 2021 and closes March 31. Contact us for more information.

2021 is a Seller's Market - Why Now is the Best Time to Sell

Is This a Good Time to Sell?

We are often asked the question, “Is this a good time to sell?” Despite the economic impacts felt globally last year, 2020 ended the year as a seller’s market, but sellers were the last to get the memo. What does this mean? Now is an EXCELLENT time to sell with inventory at an all-time low, and demand unusually high. 

Why 2021 is a Seller's Market

The average home price across 150 urban markets worldwide rose 4.7% from June through September compared to the same period a year earlier, according to Knight Frank’s quarterly Global Residential Cities Index. The real estate market boom is the result of many things from government stimulus, work-from-home fueling a move away from city centers, and Millennials entering the housing market as the fastest-growing segment of home buyers and second-home buyers. Would-be buyers who planned to purchase in 2020 held off during the early days of the pandemic but are ready to buy now. Fewer sellers listed their properties for sale in 2020 due to fears of an economic downturn, but the housing market rebounded remarkably quickly resulting in an unprecedented low in available properties for sale, despite an increase in demand.

The Bahamas is no exception to this global phenomenon with fewer properties for sale, and an increase in buyer demand, especially among luxury home buyers, as detailed in Luxury Portfolio's recent report on The State of the Luxury Real Estate Market

Ready to Sell?

Are you ready to sell? Find out why you should sell with a Bahamas Realty agent to get the best result for the sale of your property, and request a free comparative market analysis to determine what your home is worth today.

Tips for Buying in the Post-Pandemic Seller's Market of 2021

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It’s been one year since the coronavirus pandemic disrupted the housing market. It was a year of extremes for the global real estate market. It started out looking bright but was soon derailed by the pandemic which caused world economies to falter. Going into the latter part of 2020, the rebound was sharp with demand for residential real estate surging. The housing market is expected to continue its winning streak in 2021 as a strong seller’s market.  

A seller’s market is when there are more people buying houses than houses for sale. In the Bahamas, a strong demand for housing from both local and foreign buyers has led to a shortage in inventory that reflects the global home price growth. This news should have sellers smiling. But what does the booming 2021 housing market mean for buyers?  

Buying in a Sellers Market 

The rule of thumb in real estate is that the best time to buy is when you are ready. Demand is up right now for many reasons - buyer's who delayed purchasing during the unpredictable past year are ready to buy, people are looking for larger homes to accommodate working from home, a move away from cities is shifting demand, and Millennials - the largest generation - are jumping into the housing market as the fastest-growing group of buyers.

Whatever your reason for buying, here are some tips to help make the process work in your favour in a seller’s market. 

  1. Know what homes are selling for in your desired area 

Listing prices are not always an accurate reflection of what the property will sell for. Some properties may be listed underprice in hopes of generating a bidding war, while others may be priced in the seller’s hope of taking advantage of the low inventory market, rather than value. An experienced agent can tell you what similar properties have sold for, and what features are driving value.  
 

  1. Expand your search 

Prices are always higher in the most popular neighbourhoods. Don’t limit your search to just a few of your top locations. Newer developments and condo communities are springing up with better amenities and square footage for less money. Similarly, homes and condos in established communities are coming back on the market as Baby Boomers reach retirement age. These older homes often offer more bang for your buck and require little investment to modernize.  

Start with our list of Featured Communities and Condo Developments
 

The newly constructed Coconut Cove residences offer modern amenities in a small gated community in Western New Providence at affordable prices. Photo: Brian Austin, Bahamas Realty Agent & Broker

  1. Get prequalified 

If you require financing, being prequalified shows true intent and gives the seller confidence that the deal will go through. Taking the time to meet with your bank/ mortgage lender before you begin your home search will give you a better chance of getting the home you want before someone else snaps it up. Similarly, cash offers indicate faster closing times and eliminate the risk of a mortgage not being approved - a big incentive for the seller to accept an offer. 
 

  1. Re-evaluate your wish list 

With inventory low and demand high, you may need to re-evaluate your priorities. Perhaps a slightly longer work commute is made up for by a shorter school run. New construction and a spa-like master suite might make up for the lack of ocean views. Fewer bedrooms might be a sacrifice easily made up for by a dock for your boat in the backyard.  
 
It can be helpful to make a list of your priorities before starting your search, but be flexible. Once you have toured a few listings, re-evaluate the list and rank the places you’ve seen in terms of the features that you loved, and those that are less important. 
 

  1. Don’t shop at the top of your budget 

Shopping at the top of your budget can lead to disappointment. Closing costs can be high and it is important to prepare for those as well as any unexpected costs. Mortgages are often contingent on the appraised value of the home, and if you bid too high and your mortgage comes in below the offer price, you may need to self-finance more than you had initially planned for. 

There can be benefits to shopping below budget. You can save money on the upfront cost of the home and use any extra funds to customize it to your liking and even add value for a future sale. 
 

Opportunities exist if you know where to look. This unique villa is one of just 6 in a small community on famous Paradise Island. Recently renovated, and priced to sell, a few tweaks will make this the perfect island retreat. Listed with Broker/ Director  Andrea Brownrigg.

  1. Start now 

The sooner you begin the process of your home search, the better. You should start by taking the time to familiarize yourself with the various communities on the island, what closing costs you will have, and how the real estate process works in The Bahamas. The more prepared you are when your dream home hits the market, the better your chances are of sealing the deal. 

The luxury second-home market is also booming and predicted to continue through 2021. While new developments are under construction, availability is limited. According to a recent report compiled by Luxury Portfolio International, the demand from affluent buyers and investors is also far outpacing inventory, with the best properties moving faster than ever. Despite the low inventory 50% of affluent people surveyed believe this is a good time to buy.

 

Contact a Bahamas Realty estate agent today to learn more about the home buying process.

10 Best Beaches in The Bahamas

Crystal clear water, soft white sand, and sunshine year-round.

The Bahamas is known for having the most beautiful beaches in the world, with the beauty of its turquoise water, visible even from space, being declared "surreal" by astronaut Chris Hadfield in 2013.

 

 

With so many stunning beaches to choose from, narrowing down the best is practically impossible, but we've rounded up 10 of our favourites from around The Bahamas. Make a visit to each one a part of your bucket list.

1. Tropic of Cancer beach, Exuma

Also called Pelican Beach, Tropic of Cancer Beach is the longest beach in the Exuma Chain. Located on little Exuma, some describe this beach as the most beautiful beach that they have ever seen with its super blue waters and calm surroundings.

2. Beaches of Stocking Island, off the port of Exuma

Stocking Island, located off Great Exuma, is known for its picturesque scenery. This island not only draws in visitors because of its crystal clear beauty but the friendly stingrays there will keep anyone coming back.

3. Big Major Cay (Pig Beach), Exuma

Most beaches are popular for their beauty but Big Major Cay, also known as “Pig Beach,” is famous for its swimming pigs. Yes, you read that right! The pigs on the island offer an amazing experience for visitors, allowing you to pet them, feed them, and even swim with them.

4. Cape Santa Maria Beach, Long Island

Just one visit to Cape Santa Maria Beach and you will never want to leave. This highly rated beach is known by many as the most beautiful beach on Long Island, mainly because of its clear blue waters.

5. Great Guana Cay, Abaco

If you are looking for a beach with miles of white sand, along with peace and tranquility, Great Guana Cay beach is perfect for you. It is great for running, snorkeling, and collecting shells. Great Guana Cay is one of the most pristine and beautiful cays in the Bahamas. The famous Nipper's Beach Bar overlooks the beach and is popular with locals and visitors alike.

6. Kamalame Cay Beach, Andros

You may know of Kamalame Cay Beach through celebrities and social media influencers, but it is even more, stunning in person! Located on a private island, Kamalame Cay Beach offers an off-the-grid experience with raw beauty, unlike many other beaches.

7. Pink Sands Beach, Harbour Island

The name is pretty much self-explanatory for this beach. Pink Sands Beach boasts miles of pink sand and this is really what sets it apart from other beaches. This beach is popular among vacationers from near and far looking to experience a beach like no other.

8. Fernandez Bay, Cat island

Located in New Bight, Cat Island, this wonderful beach offers amazing views and great restaurants and while there you may even find sand dollars in the sand to start your collection.

9. French Leave Beach (aka Club Med Beach), Eleuthera

French Leave Beach, aka Club Med Beach, is located on Bank's Road in Governor's Harbour. Its name is derived from the old Club Med Resort that was destroyed by Hurricane Floyd in 1999. It boasts some of the softest pink sand that stretches out over a mile, overlooking clear water perfect for beach combing, snorkeling, and swimming. Bring your sunscreen as there is very little shade at this sunny beach.

10. Cabbage Beach, Paradise Island

Last but far from least on our list of the top 10 beaches in The Bahamas is Cabbage Beach. Cabbage Beach is very popular among visitors and locals to Paradise Island. A short hop over the bridge from Nassau, and within walking distance of many of the major hotels, Cabbage Beach is one of the most jaw-dropping and popular beaches in the country. A few hotels back onto the beach, but it is accessible to the public. The waters can be rough at times in the winter months, but that does not take away from the astonishing beauty of its turquoise waters and powder-soft sand. You can even find locals at this beach taking advantage of their jet skis.

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The State of the Luxury Real Estate Market – Just Released Report

The Residential Luxury Market is poised to have a banner year as demand fuels growth at the top.

State of Luxury Real Estate Report from Luxury Portfolio International | Bahamas Realty

Luxury Portfolio International®  (LPI) has released a comprehensive, first-of-its-kind report, which delves into affluent consumer attitudes and trends across the globe.

The State of Luxury Real Estate Report revealed that of the 30 million+ households represented, more than 15.5 million will be in the market for residential real estate over the next three years.  However, the report also revealed that demand for purchase far exceeds the number of sellers in the luxury market, making it a clear seller's market. 

According to Mickey Alam Khan, president of Luxury Portfolio International®, this is a trend that will likely continue through 2021. "The ultra-luxury buyer perspective is that the current climate is getting stronger. In many markets, we see home values going up, and there is more interest in prime property,” he said.

The report details:

•             Affluent consumer attitude and behavior trends for 2021

•             Traditional Real Estate Companies vs. Disruptors

•             5 pillars in the Luxury Buyer Mindset

•             Luxury Real Estate Market Update

•             Luxury Buyer trends in Asia Pacific, North America and Europe

 

View the full report at https://resources.luxuryportfolio.com/whitepaper/  

 

More: State of the Luxury Market: The Caribbean

Bahamas Realty Director, Andrea Brownrigg was recently featured in an exclusive podcast from Luxury Portfolio International for members around the globe with an update on what's happening in high-end island markets and how COVID-19 has affected the demand for luxury properties. Click here to learn more.

 

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How Pets Can Help Sell (or Rent) Your Home

 

At Bahamas Realty, we know that pets are a part of the family. After all, most of us are pet owners too.

But how much do pets factor into the decision when buying a home? It turns out, quite a lot.

Dog on beach themed pillow

How Much Pets Matter When Buying a Home

According to a recent survey by Realtor.com:
 

  • Over 80% of buyers were pet owners;
  • 95% consider the needs of their pets when selecting the right home to buy; and,
  • nearly 70% would pass on their dream home if it didn’t accommodate the needs of their furry family members.

Back in the day, pets were considered a major hurdle to the home-selling process. But with more animal lovers buying than ever before, Sellers should embrace family pets and showcase the things that make your home purr-fect for the whole family. You'll have more potential buyers knocking at your door. Click here for tips for selling your pet friendly home.

 


Fun Fact: One in four people buy Valentine’s Day gifts for their pets.


Pet-Friendly Rental Properties Can Make More Money

 

Given how many people now count a pet as a member of their family, it's no surprise that pet-friendly rental properties fill vacancies faster and keep great tenants! If you are a landlord, consider making your home a pet-friendly property. The pool of rental properties that allow pets is much smaller so rentals that accommodate our furry family members are in greater demand, and rent for a higher price.

While there are risks to renting to pet owners, if you take a few precautions, such as including the right wording in the lease, the returns can be great. Here are some tips to make your rental property pet-friendly while protecting your investment.

 

Looking to buy, sell or rent a pet-friendly property? Contact a Bahamas Realty agent today.

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State of the Luxury Market: The Caribbean

State of the Luxury Market: The Caribbean
LPI Connected Conversations

Bahamas Realty Director, Andrea Brownrigg was recently featured in an exclusive podcast from Luxury Portfolio International for members around the globe with an update on what's happening in high-end island markets. The conversation covered how COVID-19 has affected the demand for resort properties, the kind of properties and amenities that buyers are looking for right now, and how real estate business is being conducted in these second-home markets.

Key takeaways:

  • For luxury buyers, the pandemic has created an increase in demand for large, private estate properties with access to an outdoor lifestyle that's safe for the family.
  • The demographics of buyers hasn't changed, despite the challenges in travel.
  • Virtual tours and online life has changed how business is done, including how property transactions take place. Buyers are now purchasing property that they have "toured" without ever setting foot inside.

Andrea was joined by our LPI affiliate, Bernadette Hunt, of Turks & Caicos Property., and Anne Colvin, Director of Member Services for LPI.

Catch the whole conversation on Vimeo, Spotify or Apple Podcasts: LPI Connected Conversations.
 

                

 

MORE: Luxury Portfolio International recently released a first-of-its-kind report on the State of Luxury Real Estate globally. Read more here.

Caves Corporate Center Now Fully Leased by NAI Bahamas Realty Commercial

 

NAI Bahamas Realty Commercial, a leading full-service independent commercial real estate firm, announced today that the Cave’s Corporate Center West is now 100% leased. The NAI Bahamas Realty Commercial exclusive listing is a newly constructed Class A office building located on West Bay Street and Blake Road. 

Caves Corporate Center - Newly built corporate office building in Nassau with afternoon sun

 

The Caves Corporate Center West has been highly sought after since its ground breaking in 2019,” said NAI Bahamas Realty Commercial’s CEO, Donald Martinborough. “We are thrilled to see the project near completion and to have represented the developers, Mosko United Construction Company, in the successful negotiation of the lease of the final remaining spaces.” 
 

The Caves Corporate Center West is comprised of 25,000 square feet of Class A, Build-to-Suit office space. The three-story Class Abuilding is designed to offer spectacular ocean views and is ideally situated within minutes to the international airport and the Bahamar Resort. 
 

NAI Bahamas Realty Commercial previously announced the lease of 18,000 sq. ft. of the building to anchor tenant, Ernst & Young. The remaining 7,000 sq ft. will be occupied by Trident Trust Group, also represented by NAI Bahamas Realty Commercial, and Banco Santander Intl. 
 

NAI Bahamas Realty Commercial specializes in the sale, lease, and management of Build-to-Suit properties. These buildings represent the newest and highest quality buildings in the Bahamas commercial market. They are well located, feature top of the line construction, and possess high-quality building infrastructure. As a result of this, they attract the highest quality tenants. 
 

“We’re seeing a greater demand in this type of commercial development as it becomes the industry standard in international markets,” said Martinborough. “Looking ahead, we anticipate the demand for professionally managed properties with Build-to-Suit options increasing, as tenants are attracted to spaces designed and tailored specifically to their needs.”

 

About NAI Bahamas Realty Commercial.

 

NAI Bahamas Realty Commercial, an exclusive member of NAI Global, is a corporate real estate services company dedicated to offering the finest commercial real estate and property management services in The Bahamas. It is the commercial division of Bahamas Realty Limited, a full-service real estate company established in 1949 offering a full range of services for both residential and commercial properties.

To learn more about our Commercial Real Estate Services Click Here

 

Bahamas Realty's Home Cooked Holiday

 

It's the most wonderful time of the year and this Christmas, #TeamBRL wants to share with you some of our home-cooked favourites that bring back great memories during the holidays. From our homes to yours, enjoy! 

We'll be adding new recipes as the holidays approach, so be sure to check back, or Follow us on Instagram and Facebook for all our Home Cooked Holiday posts!
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1. Butter Tarts

Butter Tarts | Bahamas Realty

“Although I’ve lived in The Bahamas for over a decade, these sweet Canadian indulgences still taste like home to me at the holidays. A silky, gooey, flaky, decadent butter tart is the perfect baked gift for a neighbour, if you don’t eat them all yourself. Good luck with that!”
- Iona Henderson, Marketing Coordinator

Click here for a fantastic classic butter tart recipe from RockRecipes.com 

This recipe goes into the great debate of whether or not to add raisins. Many people prefer add pecans for a delightful crunch that is reminiscent of a pecan pie. Either way, you can't go wrong!

2. Corn Casserole

Corn Casserole | Bahamas Realty

Originating from the Midwest, it is all about casseroles for Michelle at the holidays.

The easier the better for this busy mom of 3! Corn casserole only requires 7 ingredients and even the pickiest of eaters love corn. Michelle Martinborough, Sales Associate

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Recipe:
1 box jiffy corn mix
1 can of corn (drained)
1 can of creamed corn (not drained)
1 cup sour cream
1/2 cup grated cheese
1/2 cup melted butter
1 egg
Throw it all in a bowl, mix and pour into a greased 8x8 baking pan at 350 degrees for 45 -50 minutes.

3. Johnny Cake - A great Bahamian classic! 

Best Ever Johnny Cake | Bahamas Realty

"I want to highlight my Mom’s Johnny Cake specifically because no one makes it like she does. It’s the perfect balance between cake and bread with just the right crust on top. Served with some room temperature butter, it will melt in your mouth like heaven." - Tierra Rolle, Appraisals Assistant

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Recipe:
4.5 cup of Flour
1 cup Sugar
4.5 tsp baking powder
1/2 tsp salt
1/2 stick of butter (softened)
1/2 cup of margarine (softened)
1 egg
3/4 cups of coconut milk/ cream
1/3 cup water

Directions
Step 1: Mix all dry ingredients together.
Step 2: Cut butter and margarine into small cubes then add to flour. Note, the butter and margarine should look grainy as it mix.
Step 3: Add liquid ingredients to dry ingredients until just combined. Be careful not to over mix.
Step 4: Preheat oven 350 degrees. Pour batter into 9 x 9 pan. Bake Johnny Cake for 45 minutes and gauge completion by the testing knife coming out clean.

Learn all about the history of Johnny Cake here.

4. Carrot Cake

Carrot Cake | Bahamas Realty

"My family has, over the years, developed many traditions just for Christmas. One of our favorite traditions, we share is baking a Carrot Cake the night before Christmas day, which is my family's favorite Christmas dessert. For the past four years, we always use Sally's Baking Addiction's My Favorite Carrot Cake Recipe which is always a staple at the Christmas dinner table. We love this recipe because with the addition of a list of spices such as nutmeg, ginger, and ground cloves gives the cake a distinct taste. Along, with 2 cups of fresh shredded carrots which will give the cake mixture a rich and moist taste. Trust when I say, one slice of this Carrot Cake is never enough for each member of my family." - Jillien Mortimer, Commercial Assistant

Click here for the recipe from Sally's Baking Addiction.

5.... to be announced. We'll be adding new recipes as the holidays approach, so be sure to check back, or Follow us on Instagram and Facebook for all our Home Cooked Holiday posts!

 

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Going Green: The Growth of Solar Energy in The Bahamas

 

As a country with an abundance of sunshine, The Bahamas is slowly but surely taking advantage of all the benefits that come along with solar energy in terms of improving the country and livelihood of its citizens. In fact, The Bahamas has about 340 sunny days a year! As people begin to look for more sustainable ways to reduce energy consumption and save on costs, more individuals and companies in The Bahamas are opening their eyes to all the possibilities solar energy can bring. 

 

Cutting Down the Electric Bill 

The residential real estate industry has seen an uptick in solar-powered homes throughout the years, with some homes even going completely solar, like this home on Paradise Island which was recently sold by Bahamas Realty agent, Andrea Brownrigg which is completely powered by its own solar grid.

Luxury Home in The Bahamas with Solar Panels | Bahamas Realty

 

Homeowners have recognized the positive impact solar energy can have on their cost savings in the long run. For many homes, the electricity bill makes up a large portion of the expenses so when the energy costs are cut, money will be saved. In addition, the rising energy costs make the transition to solar energy a no brainer for so many homeowners. Even a smaller solar panel for hot water can produce significant savings for the average household. 
 

Commercial Properties Benefit from Financial Savings and More 

Commercial companies like NAI Bahamas Realty Commercial have started making the transition to more sustainable energy solutions by changing out light bulbs to LED, replacing HVAC units with energy-efficient ones, and having programmable thermostats in offices. Although these changes may seem small compared to installing full-blown solar panels, these efforts have led to 25% average savings in energy across the buildings that NAI Bahamas Realty Commercial manages. 

“Many office buildings in The Bahamas are older, and most are multi-tenant buildings. Achieving energy efficiency in these spaces has its challenges. We work with landlords and tenants to help them make practical changes to reduce energy waste which benefit both parties in the long run,” said Donald Martinborough, CEO of Bahamas Realty and NAI Bahamas Realty Commercial 

Not only are there direct financial benefits of a green, efficient space, but embracing green energy ideals can have positive impacts on a company’s brand and community relations. The added benefit? A strong relationship between tenant and landlord and a more attractive commercial space for future tenants. 

“When renovating or building out a new space, tenants and landlords have a great opportunity to collaborate and go green. Relatively small changes in the design and build-out of the space can have a big impact on its energy efficiency and sustainability,” said Martinborough. 

Bayside Bahamas Commercial Building | Bahamas Realty


The Bahamas Goes Green 

The solarized project forged between the government of The Bahamas and the United Arab Emirates (UAE) is an agreement signed in 2017 to “accelerate sustainable development” in The Bahamas. This $4 million dollar aims to save The Bahamas $350 thousand dollars and annually offset over 800 tons of carbon emissions by displacing thousands of litres of diesel fuel with a grid-tied solar system. 

Similar to the agreement signed in 2017, Bahamas Power & Light (BPL) launched the Family Island Solar Program with support from the Rocky Mountain Institute (RMI) and Carbon War Room’s Islands Energy Program. This program proposes to develop “solar-fueled power systems” on the Family Islands of Andros, Bimini, Eleuthera, and Inagua with hopes of meeting 30% of the electricity by the year 2030. 
 

What changes are you making to move toward a greener, more energy-efficient environment? 

Contact us to learn more about our commercial property management solutions, and how we can offer guidance in a green build-out. 


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