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记者的观察
The realities of real estate! g2 b) A) e* I+ y
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Published: Friday, October 06, 2006 ( N2 Y r" i$ N) B
EDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.! o+ K5 `( H( M% S( e0 W) z
" L7 b" d; A& f2 A- `1 kThe 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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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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- M" |$ P, I2 h* \% B4 S, \0 f' s- @: OBut 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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! @, x' [$ e, t# \+ ?"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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8 T3 T. a: h+ vLaas 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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But she has lost out on four places since beginning her search for a house.2 Q8 ]& f) A: X# M) e; d H
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She's been outbidded, "out-offered" and "outconditioned."! \8 s8 ^9 i/ p/ N
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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.- I7 J o+ C- \% v& n
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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.
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) @5 @8 r" B. x: E. C0 NForty-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.1 S* K( |* C7 |9 N
$ {" I( F- x7 P# |8 yShe 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.8 C, A: ?+ v; m6 m% ]1 ]3 K- p
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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. N; M! z" L( m# ~
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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 o% i; r6 q+ p! c6 T
1 p, H( g7 w& g: Q" [8 x% c( ZTime has not been her friend. Every month the prices of homes in Edmonton climb higher.
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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 $175,922.2 ~0 e7 G& Z& ?& y v8 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.3 o" ^5 H! a. n8 J: h4 e4 {' i( q% c+ s
1 c4 D8 r! |4 s- `% 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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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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