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记者的观察
The realities of real estate9 R" n- U" h' e9 l7 W" c3 o
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Published: Friday, October 06, 2006 * `, A$ a4 a- y" 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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The 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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1 W1 K1 c, T! MShe 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.% A5 i: P0 W* h7 @" u
- B) ? _8 t. \& G* nBut 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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"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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5 y" k8 x. a7 O' d c2 R1 XLaas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.
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; Z$ @. u+ u5 _& J+ `But she has lost out on four places since beginning her search for a house.
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She's been outbidded, "out-offered" and "outconditioned." z) P* ?5 J1 f6 ?( ~& _; l$ _1 L
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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.2 r4 E1 r" Z5 l0 m9 Q; u: F) d
( y1 }. `7 R0 g& W" S. g# ZLaas 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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% _+ p1 F+ h" h" `* j2 CForty-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.) Q0 x Y+ |0 e1 I, u: u4 m8 h
3 \, |4 ~& W# X# u4 Y- m% kShe 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.( S2 G- }3 _, R# D2 {; u/ B% g
5 j0 ^' U" ?% z3 _2 zBack 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.0 D' a# l1 Z/ A7 Y) k2 h
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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."7 F- ^. y N* ^+ ]4 Q1 W
. F; n7 L4 O" J# b5 nTime has not been her friend. Every month the prices of homes in Edmonton climb higher.5 ^. ~5 b1 S% z# F1 S# u6 R
i F4 Z& C1 r% h4 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 $175,922.; p8 l$ d# P6 N' s! v! E9 S, I- b
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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.
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& w/ q- B4 j& e5 T" Q# K"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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( g' C+ G0 B$ \: y1 p$ Y) aThat 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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