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记者的观察
The realities of real estate
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Published: Friday, October 06, 2006 . {9 k2 n; K# p( E
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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2 ^6 c3 o& A1 m; }) BThe 29-year-old plumber from Vancouver had no problem finding work in Edmonton with trades people high in demand in Alberta.# g# b9 }3 g* u0 V3 s3 ^
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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.2 S% A) ]6 c5 w2 v, T1 @- ]
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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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"It absolutely scared me," she says. "I moved here for a house, and all of a sudden a townhouse went from $105,000 to $155,000 and I'm going, 'Oh my gosh. I have to buy really quick.' I've seen it in Vancouver and now I'm starting to see it here and it's frustrating.". n: C" P a$ f; y, |, o
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Laas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.4 ^ ^, u" O9 |! P2 S
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But she has lost out on four places since beginning her search for a house.
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# I( s7 m2 q) x0 OShe's been outbidded, "out-offered" and "outconditioned."
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One house, the one she really wanted in the northwest neighbourhood of Calder, went on the market at 4 p.m. and had multiple offers by 6 p.m. so Laas walked away. In two other instances, other buyers had fewer conditions on their bid to purchase a townhouse, so her offer was dismissed.% S0 L8 k% X D) Y
' p3 Q* o5 K z) q. ?- LLaas says she was in tears because of the experience. She has given up working with a real estate agent to look for a home. She says she's backed off the whole thing, but she keeps her eye open every now and then.# K: Z9 x: E, Y4 i3 d4 {
/ g. J1 W7 v, C5 yForty-five-year-old Cheryl Daly is also having a tough time finding an affordable home for her 12-year-old son and a 16-year-old daughter.
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She left a 23-marriage and a 1,700-square-foot home last year. She works as an administrator and now rents a three-bedroom townhouse.0 N. F. O& u/ N: l) I6 I+ q1 N
! s4 ]4 {6 f/ ?; z5 H$ l; ^Back in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.
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8 c2 p/ n7 K4 D" `. ^$ SSo Daly has been checking out townhouses, but even that has been difficult for her.
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0 h+ Q- c* R" M- }& W"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."& X, I! Z7 k( i) Q* |+ C! k2 j
, |& t6 o8 E$ h/ jTime has not been her friend. Every month the prices of homes in Edmonton climb higher.$ S, B9 Q* ?6 [0 p4 {' i
4 t) Q. ~# x2 M h" I) ^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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! L, w6 y0 [3 Z+ k y# q* p* hThe president of the Edmonton Real Estate Board, Madeline Sarafinchan, says the hot market is tough for first-time homeowners and single people.. V+ p5 m, [* e& n
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"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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