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记者的观察
The realities of real estate
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' M9 X) q# a7 Q) A6 R7 y NPublished: Friday, October 06, 2006
U( ]6 F3 U+ T5 |' lEDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.3 N/ g8 e3 V8 g- ?
5 @& {. l) \1 Z- `& }1 iThe 29-year-old plumber from Vancouver had no problem finding work in Edmonton with trades people high in demand in Alberta.6 g* G, j& o- z* Y \
! s& z/ l( ~& f2 ?5 cShe 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.& e: S: ~0 C- R8 F& W+ |
) |3 \' C$ e/ W* QBut 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 O, _6 E5 N. ?7 V* O, CLaas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.
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But she has lost out on four places since beginning her search for a house.4 v4 e, H' n) x, Q5 W. ]0 q6 W
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She's been outbidded, "out-offered" and "outconditioned."
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One house, the one she really wanted in the northwest neighbourhood of Calder, went on the market at 4 p.m. and had multiple offers by 6 p.m. so Laas walked away. In two other instances, other buyers had fewer conditions on their bid to purchase a townhouse, so her offer was dismissed., x+ d1 {# l- K: E- _
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Laas says she was in tears because of the experience. She has given up working with a real estate agent to look for a home. She says she's backed off the whole thing, but she keeps her eye open every now and then.9 A) x/ h( h: R$ ?; f x- ]2 }
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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.4 d" ?; n% K. k: K5 G, s
5 y+ n9 \$ P l& s8 RShe 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.
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Back in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.5 [1 d. ]2 Q0 ` q! O
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So Daly has been checking out townhouses, but even that has been difficult for her.! O% S3 z" ~6 V3 }0 O! E7 b: c0 I0 G
T! I! t! I+ d9 Q& H"The places, when they come up, if they're at a decent price, they're gone really quickly," she says, "so it's a matter of timing."
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6 a) f* c9 `8 h. j" C$ J8 mTime has not been her friend. Every month the prices of homes in Edmonton climb higher.& F. D8 o" l9 l8 U
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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 $175,922.& w. p+ n5 N# a
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The president of the Edmonton Real Estate Board, Madeline Sarafinchan, says the hot market is tough for first-time homeowners and single people.+ o. b3 V5 s; j5 D/ k& B U
9 u3 F! K$ G( m5 m 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."7 v# y0 Q' l' A# {( z' L( d* t
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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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