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记者的观察
The realities of real estate
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! r C/ Q' ^3 f sPublished: Friday, October 06, 2006 ( d' J2 }" M$ }2 V" }5 r$ A, y
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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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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* ^$ d# n1 u0 P$ P! uShe 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.3 s7 T9 a( `- e" r! H6 C
3 ?+ m+ @3 f4 DBut 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.9 N) D" W e0 n) D
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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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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.: ^0 Q k" U0 |% j6 O
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But she has lost out on four places since beginning her search for a house.. f: s5 g: S5 a" Y1 N1 R6 @
9 t6 A! J4 d5 y' F0 j7 f T' DShe's been outbidded, "out-offered" and "outconditioned."
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- u3 q2 [3 i1 ~& J; l" POne 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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/ @, f- D" O/ rLaas 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.! X% ~7 I6 K5 C. m8 l* n
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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.3 y2 V: V2 ~, P
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Back in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.' m) ?: L3 e& _7 o2 T0 _
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So Daly has been checking out townhouses, but even that has been difficult for her.
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# d4 b' a/ S1 Y6 y+ x z"The places, when they come up, if they're at a decent price, they're gone really quickly," she says, "so it's a matter of timing."! O. i1 M$ V3 m7 g' w5 X
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Time 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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0 R. c% s6 p5 K: B( \The president of the Edmonton Real Estate Board, Madeline Sarafinchan, says the hot market is tough for first-time homeowners and single people.
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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."3 L% h% I' U. Z; e/ c1 b
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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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