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记者的观察
The realities of real estate
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1 y( {5 W( P5 V0 f; c) V" c' uPublished: Friday, October 06, 2006
2 w. V& ^* E; zEDMONTON - 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.8 W& B0 W1 k2 E1 I3 a0 [! a' k
( _: f; b z5 W0 x+ k! A- ZShe 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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: k, E9 O1 _' 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.
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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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, N# V, g/ e2 T& xLaas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do./ g1 W5 N! J7 U/ u
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But she has lost out on four places since beginning her search for a house.# U( b2 D& Q0 {6 j- \3 Z
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She's been outbidded, "out-offered" and "outconditioned."
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9 o2 [' V/ z: mOne house, the one she really wanted in the northwest neighbourhood of Calder, went on the market at 4 p.m. and had multiple offers by 6 p.m. so Laas walked away. In two other instances, other buyers had fewer conditions on their bid to purchase a townhouse, so her offer was dismissed.
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$ K6 g' N8 O( }1 W+ y" {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.. Q# q: n- @2 L& ]( N* a0 J) J
, m2 H# J: _$ o: \4 O+ I6 jForty-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.- n [* j ?% M
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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. H3 W( C6 `( ^
$ } A% D! ?2 Y0 wSo Daly has been checking out townhouses, but even that has been difficult for her.
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; J6 f8 G, X. n+ @, d6 g- D! ~8 w"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.; m `/ i; Y& t$ Z6 ^, ~, V: g7 y
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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 $175,922.
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6 k3 ?) Y6 l( i# W5 `* qThe president of the Edmonton Real Estate Board, Madeline Sarafinchan, says the hot market is tough for first-time homeowners and single people.( {3 e* x+ \# {' e
# D1 }$ V2 ^# d" 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."
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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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