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记者的观察
The realities of real estate
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Published: Friday, October 06, 2006 7 H" X! Z: P7 h. s! v4 Z3 Y6 r& S
EDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.0 M! c2 ?' Q) x+ M E) J
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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.5 P8 E2 l9 T, G& |6 }- }
7 ~. e+ P0 d! dShe 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.5 Q6 i- B4 t+ C/ Y6 ?1 J6 C
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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."7 U+ V% F f& T# N% g
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Laas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.
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: J9 P, W2 o% R/ l8 U" zBut she has lost out on four places since beginning her search for a house.: J, u {* D5 X# S' `% y% |; ^0 u$ [- x
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She's been outbidded, "out-offered" and "outconditioned."* c1 m& U- P8 U3 m
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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.+ d7 e% X- p$ i% I* s; q& C
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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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+ z7 ]: `% L& s' \9 Z' NForty-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.
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1 V0 c" a% ^' @# j3 xBack 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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+ W/ N8 [6 I, i/ O"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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Time has not been her friend. Every month the prices of homes in Edmonton climb higher./ I* N1 E# u8 s8 Z8 t5 {: o
+ R9 W( M4 a5 s, g" G: dAn 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 $175,922.
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. { i$ i# f, I; p j" AThe 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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9 d/ e( h) O6 A8 K$ w"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."# `: o1 S+ L& r* \5 U
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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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