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记者的观察
The realities of real estate% E0 S, S7 C% z ?3 D8 J
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Published: Friday, October 06, 2006
3 B* m* S: x6 N8 K! V" v4 G; \EDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.
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# K- \( k6 P; W% d6 ]2 C# T* [, lThe 29-year-old plumber from Vancouver had no problem finding work in Edmonton with trades people high in demand in Alberta.% Z# r3 s3 Q3 b, j+ _& B
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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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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.3 W2 @3 E1 o6 i% c6 p1 d0 P5 p) b% Z
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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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Laas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.8 P" f6 I1 x" l) ?* E4 z* @$ d
0 K8 G; \0 j' r6 LBut she has lost out on four places since beginning her search for a house.
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* _. n! V. B6 W/ A4 }5 I6 f2 z( `" s5 ^She's been outbidded, "out-offered" and "outconditioned."
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* y- c& ]* ^; A& ~( @# VOne 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.
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) V7 l8 {3 j5 F5 u) [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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+ Z$ z7 \; c0 W# m0 \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.! C7 T1 M8 O7 {/ Z3 m# P
& j4 s. x' B+ D7 _Back in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.) d }; g! h; t' D! G; @) X/ o
7 t6 {: g; s7 S8 E, xSo Daly has been checking out townhouses, but even that has been difficult for her.# j' |) _7 ^: M+ Y( |1 _/ _
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"The places, when they come up, if they're at a decent price, they're gone really quickly," she says, "so it's a matter of timing."- w( v& i% i6 ?/ F: H. A
) q7 X% u0 v3 f# E; K @Time has not been her friend. Every month the prices of homes in Edmonton climb higher.
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2 m. w* w, |$ o6 PAn 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.# T) m4 L9 q% `0 X* 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.
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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."
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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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