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记者的观察
The realities of real estate
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1 b/ _: \+ g5 i( J/ gPublished: Friday, October 06, 2006 8 B3 c/ s# M* R' j5 y6 @
EDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.
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4 Z* q- ?% ]% x- M1 `2 \2 f) C1 M; }The 29-year-old plumber from Vancouver had no problem finding work in Edmonton with trades people high in demand in Alberta. s! U0 L& ^" F$ ?/ v" \+ b! ^1 ^
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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.( k; R0 }" W2 E* ^4 w# F
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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.0 o3 G# c2 y/ G" l; |
$ t& V, L0 \, e" p"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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Laas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.6 v% F1 Z% ]8 l
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But she has lost out on four places since beginning her search for a house. W% h; Y+ r$ A# ^
k4 c* {7 G/ I5 W' Q+ U3 F3 XShe's been outbidded, "out-offered" and "outconditioned.": i9 J6 N0 p7 z% M* c6 o
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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.. c5 G( ^4 t9 k
' X, s1 \" X% o$ k$ Q' y7 {* hShe 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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8 C, L2 D& e1 sBack in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says." Z4 l$ \# u5 {, U D
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So Daly has been checking out townhouses, but even that has been difficult for her.
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! p/ q3 m" |, H' j/ s: A# S; }! A"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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" B4 Z. L+ y4 ?9 X; LTime 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.
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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.# X8 C+ V ~) S( W6 B3 U/ ?+ n9 l3 P
Q# s2 h3 S1 I6 o& ["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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