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记者的观察
The realities of real estate5 ]% M3 o$ O$ H9 |: H# A2 d
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Published: Friday, October 06, 2006 $ [6 l0 B+ I) J/ @3 m" q
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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. T0 N$ I$ t' Y4 P( ]The 29-year-old plumber from Vancouver had no problem finding work in Edmonton with trades people high in demand in Alberta." }; J4 h) ]" N' i" k6 @4 A: Q
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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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) _9 i% J/ Z8 K& `1 p# M& E3 eBut 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.' ?' P% g7 W+ n9 s$ J
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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.& F9 F! e% e) ~' I* v
' I; H2 @& P; U) aBut she has lost out on four places since beginning her search for a house.4 U* X9 l) j+ q! j
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She's been outbidded, "out-offered" and "outconditioned."4 M' s% i. w% j6 l; a
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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.. c9 l, R( ?: p7 L- B; T6 g2 v
' {1 J" D; F8 oLaas 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., P& r" [) V7 s0 M# g. U
4 m2 P) s3 W% ?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., T" G8 M5 ~; b5 c; C B
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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.5 `! e! D" a5 W% \# y
# i% {5 W* {3 z6 yBack in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.
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So Daly has been checking out townhouses, but even that has been difficult for her.5 _! E' `1 V& D7 W" v
/ a5 P. u9 A/ V) {# i0 I! f"The places, when they come up, if they're at a decent price, they're gone really quickly," she says, "so it's a matter of timing."
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$ Y5 s6 U# c- z; M$ vTime has not been her friend. Every month the prices of homes in Edmonton climb higher.% D- O4 h" p" X- g
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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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The president of the Edmonton Real Estate Board, Madeline Sarafinchan, says the hot market is tough for first-time homeowners and single people.# m( K6 y7 t% Y, |! ~3 S
" b+ r* @5 N- a0 D, c"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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# h" U0 D6 p& S HThat 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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