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记者的观察
The realities of real estate4 c3 }* p. I; I8 q) r5 B
$ x6 D1 C4 g) A7 ~5 HPublished: Friday, October 06, 2006 $ B* |! w: Z" _4 R; K. z+ g' s
EDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.$ }) x5 `6 p. o8 \
% \1 M' ~( F: ~( K: S. Z1 tThe 29-year-old plumber from Vancouver had no problem finding work in Edmonton with trades people high in demand in Alberta.( D0 u3 V$ B; J; x" ~9 Q, H4 u- L
9 _7 k4 l }* p. y1 {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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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.
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4 P9 m3 {! i7 Z"It absolutely scared me," she says. "I moved here for a house, and all of a sudden a townhouse went from $105,000 to $155,000 and I'm going, 'Oh my gosh. I have to buy really quick.' I've seen it in Vancouver and now I'm starting to see it here and it's frustrating."7 I, O" [6 J0 x/ e. i! e$ @
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Laas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.: o( }# C1 J# L
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But she has lost out on four places since beginning her search for a house.
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1 K1 n/ O8 Y ?# }She's been outbidded, "out-offered" and "outconditioned."
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One house, the one she really wanted in the northwest neighbourhood of Calder, went on the market at 4 p.m. and had multiple offers by 6 p.m. so Laas walked away. In two other instances, other buyers had fewer conditions on their bid to purchase a townhouse, so her offer was dismissed.1 n; y) N9 ]$ f2 `
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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.: N. l4 y, _* q, k
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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.) X; s( z U# L8 O! }: [/ J
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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.( Q, @& G9 k: }4 [
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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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+ B* z! e+ h' g( T% TSo Daly has been checking out townhouses, but even that has been difficult for her.7 ]- `% a3 S, V3 |) T* `' Y" w
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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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) W* Y! D8 v1 H3 x/ ]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 $175,922.$ Z* t; n7 L9 M7 ? w0 R
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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.. @! K" J/ r; E/ t1 R
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"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.": [1 Y( \8 q$ [% H( d8 l6 s4 \
& k! [( [( x/ S6 S3 L1 B7 mThat 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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