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记者的观察
The realities of real estate
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Published: Friday, October 06, 2006 / S5 D v3 v0 u: Z( F
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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0 D O# M% }5 h. H3 e6 B6 P* zThe 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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6 z) z& M! n! F' CShe 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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# ]* _: _& j A( a0 FBut 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.! a' \3 o4 m+ d7 q. L, X' ~
- c, t7 U; b- T8 K% n"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 $160,000, but soon realized she had to change her plans. A townhouse would have to do.! u! r8 [, q! H5 P/ A, @" {
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But she has lost out on four places since beginning her search for a house., B+ l3 G; [: o4 k2 e X% y
2 Z# }8 c: k; J- O% VShe's been outbidded, "out-offered" and "outconditioned.": g5 m7 }9 a3 q) L
" g5 _5 y- h* Y% [ BOne house, the one she really wanted in the northwest neighbourhood of Calder, went on the market at 4 p.m. and had multiple offers by 6 p.m. so Laas walked away. In two other instances, other buyers had fewer conditions on their bid to purchase a townhouse, so her offer was dismissed.& o% b" g7 d8 _8 \+ O6 Y
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Laas says she was in tears because of the experience. She has given up working with a real estate agent to look for a home. She says she's backed off the whole thing, but she keeps her eye open every now and then.
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Forty-five-year-old Cheryl Daly is also having a tough time finding an affordable home for her 12-year-old son and a 16-year-old daughter.9 @, j! v3 _/ J# k$ I( J& U) p
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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.! Q8 r2 p+ o: ~3 Y1 a$ r8 \$ Q
" P1 M$ V: \1 R: f' y0 Z- k( |Back in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.
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* [( G0 L4 |; m; s$ ~$ d7 R% J( x/ S6 `So Daly has been checking out townhouses, but even that has been difficult for her.0 ]! `( u1 {. O4 R& ]
% S# r- w4 y2 x* n8 d0 U% |' N' t"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."% E3 ? Y$ e4 Y! |# S
' U3 Z+ B) Y+ z" E6 v2 E) mTime has not been her friend. Every month the prices of homes in Edmonton climb higher.
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' w' Q: k- H$ L' eAn 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 $175,922.
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5 E# b1 ]$ E Q& P% q$ UThe president of the Edmonton Real Estate Board, Madeline Sarafinchan, says the hot market is tough for first-time homeowners and single people.% k, R7 a4 C, h6 F
3 W) e/ g6 O/ w8 p( t; b! K% s"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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6 p% l( E& f# ]& L. l/ k$ EThat 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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