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记者的观察
The realities of real estate
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Published: Friday, October 06, 2006
4 u5 k1 S8 u5 t0 G+ Z: x1 k" aEDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.4 B/ F4 a9 H" Y7 b
/ y3 ?5 D" }% t" X5 TThe 29-year-old plumber from Vancouver had no problem finding work in Edmonton with trades people high in demand in Alberta.
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She moved here in December with dreams of being a homeowner, something she could never afford in Vancouver despite four years of saving her money for a down payment.9 U& B2 m+ m w8 Y$ i
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But she didn't expect Edmonton's world of hot housing where the law of successful buying seems to consist of three elements: speed, cash and no conditions.. f. Y2 \! u5 m
) Z# Q4 F% ]7 L0 n3 z"It absolutely scared me," she says. "I moved here for a house, and all of a sudden a townhouse went from $105,000 to $155,000 and I'm going, 'Oh my gosh. I have to buy really quick.' I've seen it in Vancouver and now I'm starting to see it here and it's frustrating."
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! m3 w. \/ ]: |. w; @Laas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.. D" ~" `; O1 i. {- ]: R
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But she has lost out on four places since beginning her search for a house.- Z, s8 R0 M& u5 I' m* c- W
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She's been outbidded, "out-offered" and "outconditioned."9 X* q8 M' O! l( Q: A) @0 d
. }/ h7 k' Q) r) ~$ ?One house, the one she really wanted in the northwest neighbourhood of Calder, went on the market at 4 p.m. and had multiple offers by 6 p.m. so Laas walked away. In two other instances, other buyers had fewer conditions on their bid to purchase a townhouse, so her offer was dismissed.
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Laas says she was in tears because of the experience. She has given up working with a real estate agent to look for a home. She says she's backed off the whole thing, but she keeps her eye open every now and then.
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Forty-five-year-old Cheryl Daly is also having a tough time finding an affordable home for her 12-year-old son and a 16-year-old daughter.
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! P" j# ^! m- j3 P, @She left a 23-marriage and a 1,700-square-foot home last year. She works as an administrator and now rents a three-bedroom townhouse.# D( D( j( U3 l0 i" L7 L
' W, R- Q+ J- a/ t3 W, NBack in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.2 B) q5 [+ G" \5 x9 b5 E2 z/ Q5 T8 ?
4 B+ p0 s$ ^" y6 q+ d$ ?So Daly has been checking out townhouses, but even that has been difficult for her./ k3 S8 U+ ^7 L# c' Q
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"The places, when they come up, if they're at a decent price, they're gone really quickly," she says, "so it's a matter of timing."
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Time has not been her friend. Every month the prices of homes in Edmonton climb higher.
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& r' a) Q+ k: s! s: t& m) C3 gAn average single dwelling unit in Edmonton sold for $316, 480 in August this year. An average townhouse, which includes the price of duplexes, sold for $262,327 in the same month. Last year in August an average townhouse sold for $175,922." G! X4 u) m/ p" H
* m" n: w; R3 ~# U# I! ^# [The president of the Edmonton Real Estate Board, Madeline Sarafinchan, says the hot market is tough for first-time homeowners and single people." |+ p' g% b6 `+ O" A+ O
: w/ J6 x& t: g. Y$ ]"It's definitely making people think about what their options are," Sarafinchan says. "They're having to look at things that maybe are not as what they would have termed as desirable."
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That may mean sellers are not as open to "conditions" on offers as they used to be -- such as a house inspection before the deal is finalized. |
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