From the Hamptons to Seattle's lakefront mansions, sellers of luxury homes are betting their upscale customers won't be scared away by the market's plunge.

"I don't like to see those kinds of gyrations because I think it puts fear into people," said Jack L. Hangen, who owns Agawam Realty in Southampton, Long Island, but he says, "I don't think it's going to affect our market that much."

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