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记者的观察
The realities of real estate6 G: n* k( @) q. |- e" f
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Published: Friday, October 06, 2006
' k$ a" e& g, m% a% a# NEDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.# Z4 I5 p1 e) S. V( |6 G4 X
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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.) o' E/ I" V" ~$ F
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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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4 ]8 f' f( H; H& Y7 {1 T$ Q& |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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6 }6 P3 M0 ?) d9 W9 p0 i"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."% H! t6 P( M+ \. U
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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.
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& b% t' h+ L" `But she has lost out on four places since beginning her search for a house.
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N+ A& v& Y1 \" bShe's been outbidded, "out-offered" and "outconditioned."
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2 ~# a4 a; L- t2 R; }# }0 j, S" @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.! h4 \2 A% t9 T" B# S
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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.: n4 `% w0 S1 f9 ^; e2 S8 W
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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.5 Q0 V: I. M. u8 R( B/ c* a
8 V3 j" w: H0 z) K& mShe 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.( A0 G+ y9 ^8 e3 A/ l
3 m+ y+ ` h/ d- D% b( z8 QBack 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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So Daly has been checking out townhouses, but even that has been difficult for her.
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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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* ]/ m' M& e. w) r' I% U5 TTime has not been her friend. Every month the prices of homes in Edmonton climb higher.. O7 f8 ~0 d9 C2 U- F
! |: b6 t0 `" t5 s4 L# H3 T, r/ NAn 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 $175,922.0 _) r; ]- B0 l+ |3 F0 b i
. z3 }% t9 u7 ?. |6 l2 KThe 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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, j, v u' S7 X 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."6 T# z4 [0 ]& |4 h+ m3 J* i* H
" O; p: y7 A/ Z7 TThat 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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