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记者的观察
The realities of real estate
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* Q' ?% v3 ]- H/ kPublished: Friday, October 06, 2006 m, B" k, l2 D# L l2 F$ T% a9 H' a
EDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.( I t; l2 H# z
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The 29-year-old plumber from Vancouver had no problem finding work in Edmonton with trades people high in demand in Alberta.. M8 }! l: m9 C H3 [8 C
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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.
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5 O4 x$ j8 }- ^. }! H1 nBut 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.
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"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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5 s: [/ b. `; Q+ I# P2 e4 vLaas 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.6 p7 B+ L3 n4 a7 ]* m8 }; o8 }
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But she has lost out on four places since beginning her search for a house.
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She's been outbidded, "out-offered" and "outconditioned."
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- r1 u# j6 N. W9 O, A/ EOne 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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, L! ~+ n- W7 K( E( sLaas 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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4 f3 z" I* P. u+ }9 U# g8 NForty-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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( h/ A% I" e8 Q. F7 w2 \9 |/ NShe 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.
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Back in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.. O, ]' _: K0 _
; ], t! E3 h% H! lSo Daly has been checking out townhouses, but even that has been difficult for her.$ |% }# x7 W* @! C$ G7 A. M
- L9 A, n; g* E7 f& T"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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: }! S, e `2 U( V% V* FTime has not been her friend. Every month the prices of homes in Edmonton climb higher.
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/ @: D8 m4 g _ @An 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 $175,922.0 y; h6 O6 w3 Q& {% G
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The president of the Edmonton Real Estate Board, Madeline Sarafinchan, says the hot market is tough for first-time homeowners and single people.& q7 I' X0 a; s
, ]) p# Z; n* b3 J5 _( W6 F"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."7 k, o& p* }# C2 ?* L3 _0 a5 x
& Z& ?: I3 Y0 Y! vThat 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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