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记者的观察
The realities of real estate
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Published: Friday, October 06, 2006
$ @' q0 V0 l3 w A4 b4 j! HEDMONTON - 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 n, u( s1 M
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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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5 `$ W8 s% H1 j* J5 `4 gBut 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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% V7 k( d& X0 w5 }Laas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.
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9 I& [! E1 z8 o$ Q5 P6 ^2 j oBut she has lost out on four places since beginning her search for a house.
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9 A( o$ d! Y' R" q- u5 gShe'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.9 P7 L" f: C4 L
2 F V; y; t3 a3 G0 q& n6 G2 N5 {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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4 _5 U+ E" c5 k/ ZForty-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.) N1 V+ L" _6 P8 A* z
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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.+ f3 @# H/ b) c/ b3 B3 Q
, \; N5 w3 _/ h' uBack in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.; R$ j4 x2 `1 ?% u8 E+ y t
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So Daly has been checking out townhouses, but even that has been difficult for her./ Q5 A9 k# W) `8 X, K2 o* u- g) 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."- a) M* R2 K; v' C x4 N
. Y a5 y8 B1 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 $175,922.! l: L, V. d4 r
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The president of the Edmonton Real Estate Board, Madeline Sarafinchan, says the hot market is tough for first-time homeowners and single people.5 y/ ~+ P) @. _6 V$ t" P# _1 w
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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."/ _7 m. F2 P% @* L! b
6 c1 A4 f8 e/ x S jThat 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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