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记者的观察
The realities of real estate
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, E, G6 ?9 K# ~1 ]$ t0 |, V3 WPublished: Friday, October 06, 2006
4 m. G, A1 ]+ \EDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.8 q( `6 w9 k& U8 a) d$ u
" q2 F2 n, z! C( fThe 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.! }1 a, m9 ]' _1 G0 A& x
4 `3 J7 O& _3 [( }, ~' @$ {( c7 C+ xBut 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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' |: V5 A4 q+ Z0 F"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 $160,000, but soon realized she had to change her plans. A townhouse would have to do.. Q ^2 E# ~3 a6 B
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But she has lost out on four places since beginning her search for a house.
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She's been outbidded, "out-offered" and "outconditioned."
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One house, the one she really wanted in the northwest neighbourhood of Calder, went on the market at 4 p.m. and had multiple offers by 6 p.m. so Laas walked away. In two other instances, other buyers had fewer conditions on their bid to purchase a townhouse, so her offer was dismissed.' u8 _) V8 e9 i* I3 M4 c
' C3 J$ p1 ]3 y( C' B7 ILaas 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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2 d [# J$ K. b4 A, C/ E$ _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.* O8 e: q4 n: v; 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.: M3 F+ [; B6 o' {
8 F4 ^& C; }3 _" m7 Y/ I7 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.8 S& X3 m0 f8 e2 b
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So Daly has been checking out townhouses, but even that has been difficult for her., z. p. r+ }' Y
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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.- ^" F' M. U) q: |8 v8 |
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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.- S/ j( ~2 o9 O
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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.; \, S- \) `6 n& G% ~, E
# D; U F8 K# j) A"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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9 m3 F: ?' L7 K( c8 gThat 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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