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记者的观察
The realities of real estate: C! L7 _. U( |: s+ ]
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Published: Friday, October 06, 2006 ( a( D/ h4 Y3 P; c v
EDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.% d I1 [+ c, M# e5 G
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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. s0 Z6 ~+ v8 ^
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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. h8 C' }' @$ n; b
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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. e- l+ |. q g, ]/ j+ u
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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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; ^: s& t2 A- i0 ^Laas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.5 J8 P) ^- L! L" l1 j
" ^0 M9 _/ l: b' s3 ^1 IBut she has lost out on four places since beginning her search for a house.
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4 d3 q9 B; a: ] @9 g# TShe's been outbidded, "out-offered" and "outconditioned."
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% \- G$ e* h: S5 c9 g# hOne 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.' A. b: Q8 Q/ {
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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.
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5 O# |% d# E& |* I9 f% gShe 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.. I/ r C, |' D: d0 G& F+ Q
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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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So Daly has been checking out townhouses, but even that has been difficult for her.
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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."
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Time has not been her friend. Every month the prices of homes in Edmonton climb higher.
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/ x: D6 a1 J( c0 j+ yAn 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( w+ R! t9 B) O2 r2 JThe president of the Edmonton Real Estate Board, Madeline Sarafinchan, says the hot market is tough for first-time homeowners and single people.+ G1 G' a& L, O
- m& l& I) E+ G9 y"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."* p6 q" e" _8 J1 f. a0 F' G
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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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