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记者的观察
The realities of real estate
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' R* [3 i0 k6 O3 g, EPublished: Friday, October 06, 2006
; \4 h+ ^6 P/ G" o( P0 V0 t8 ~3 SEDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.
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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.
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" C' m+ r6 b% A4 \( b. e8 v"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."4 G4 ~: Y/ _9 }- r, O4 S/ u
: I( {/ m3 W9 n) e: H% bLaas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.( t h! J0 j: u% f" Z
/ f1 B% |0 p; j" R$ h/ sBut she has lost out on four places since beginning her search for a house.
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9 b) l# O! t& v3 jShe's been outbidded, "out-offered" and "outconditioned."
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: R( ~3 H9 J; f( OOne 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.1 j" s* v* R7 A6 D* h! U. F
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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./ L& q+ ]* W. k3 f) e
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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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$ f8 }7 y4 j9 Y( }# K* RShe 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. L' ~5 z6 z0 `# k3 W$ s! L$ @
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Back in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.+ }% S1 C. M8 ~/ f9 }) C# Q" r
! R4 {% X$ M: l8 C3 PSo Daly has been checking out townhouses, but even that has been difficult for her.: s- @1 p$ Z! y& A7 K
8 i( Z( N X/ E' S"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."- \" Q0 H6 N- |% b4 d
1 R' {$ s+ v& R* C1 Q8 UTime 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.- Y9 e! e7 r5 W# ~1 F' f
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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. y, ~4 p& G* w: @
+ S+ r0 s0 H5 E( L% T; ]9 I9 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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