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记者的观察
The realities of real estate
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! K6 b, l2 _# t& _/ [& XPublished: Friday, October 06, 2006
+ e: N2 I- ]& q9 S* z) F! ?EDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.; S8 \6 O& v% m3 c, R5 N7 Z% E
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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.
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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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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.1 I F* o9 K9 z, Z2 |" g2 e
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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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4 U7 b5 y& b3 [ _Laas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.- @# l9 G+ D) u& h5 ^1 f& D/ k$ P
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But she has lost out on four places since beginning her search for a house.
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9 T$ Q" s/ V7 {2 Q1 A. }; xShe's been outbidded, "out-offered" and "outconditioned."
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E3 H. C7 l' J; gOne 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.2 m) i @* S& o
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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.! s$ [, I1 ~) `% E3 X2 V
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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.7 e' S& |* y4 n- G
2 T) ~/ o. @4 l6 |7 T; T: ^6 Y8 hBack in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.
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& V8 }& ~, O$ D% L) p0 fSo Daly has been checking out townhouses, but even that has been difficult for her.
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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."$ a' y7 U9 a" `
( ~6 B& H4 h6 r8 M z5 G0 L. z" STime has not been her friend. Every month the prices of homes in Edmonton climb higher.
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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 $175,922.8 U# {$ m; j9 m' c9 r; A( W K
! @1 F( h) A7 I$ `9 t# iThe president of the Edmonton Real Estate Board, Madeline Sarafinchan, says the hot market is tough for first-time homeowners and single people.+ x0 Y- X0 h& C$ D# C3 l
7 E; _# ]3 L9 }, S9 l @"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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Q. C, Q5 ^$ o4 y3 jThat 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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