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记者的观察
The realities of real estate
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( b$ O! G# ~( H! m3 J2 l9 h+ ^Published: Friday, October 06, 2006 / w4 x- y0 ~1 Q4 I3 U1 }
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., m4 R* ^; _+ @1 y/ @
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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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1 U8 v1 Q$ Z# I2 E* jBut 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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, o4 s6 I0 a& E4 r2 |2 Y) s"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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. }' V/ q4 N, _. v: O7 sLaas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.7 M2 W' \5 B6 _% |
) t% l# o9 h5 pBut she has lost out on four places since beginning her search for a house.& L; W% d& y9 V: o1 ]& l0 R
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She's been outbidded, "out-offered" and "outconditioned."* O# y0 q! H" n/ j5 }4 u. U& h
P+ B+ j: `8 N. _One house, the one she really wanted in the northwest neighbourhood of Calder, went on the market at 4 p.m. and had multiple offers by 6 p.m. so Laas walked away. In two other instances, other buyers had fewer conditions on their bid to purchase a townhouse, so her offer was dismissed.
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Laas says she was in tears because of the experience. She has given up working with a real estate agent to look for a home. She says she's backed off the whole thing, but she keeps her eye open every now and then.
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5 m5 F# c! j; |& q. j, n+ o* @Forty-five-year-old Cheryl Daly is also having a tough time finding an affordable home for her 12-year-old son and a 16-year-old daughter., [, L: u' {8 h8 K7 `! ? y
* J0 a, B. G) {% Q4 ^: X$ i; 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.
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Back in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.
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/ I' `$ }5 z. H. w1 b6 [So Daly has been checking out townhouses, but even that has been difficult for her.: O1 M5 m( h' l4 u7 g$ Y2 n2 k
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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."* U. A3 ~# `; ]' g# h
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Time has not been her friend. Every month the prices of homes in Edmonton climb higher.3 w" E0 K0 }( S4 D& q0 ?
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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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) w. g& B4 S6 ?3 @4 m- }' _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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: L* `4 i& ^; k3 q# V% D) ~"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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