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记者的观察
The realities of real estate
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+ y2 J" m+ z# m/ |3 B& q! sPublished: Friday, October 06, 2006
* m1 z1 ]1 E$ T9 oEDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.
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$ }& B( ?* O2 b e# p! S0 h, S3 o4 YThe 29-year-old plumber from Vancouver had no problem finding work in Edmonton with trades people high in demand in Alberta.# _$ m+ Z5 Q: h8 l; K, e6 V, B
/ i4 j# `- [* i9 F; M 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.
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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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- r( ~8 x, y; K"It absolutely scared me," she says. "I moved here for a house, and all of a sudden a townhouse went from $105,000 to $155,000 and I'm going, 'Oh my gosh. I have to buy really quick.' I've seen it in Vancouver and now I'm starting to see it here and it's frustrating."& ?3 ^& V& c q) d: g$ W) B
, Q% O5 j9 S) W1 p0 o4 |$ mLaas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.
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But she has lost out on four places since beginning her search for a house.. G3 I$ a, O' ]9 W j2 N4 q
" [9 ~' Y, I6 @7 m* p D& bShe's been outbidded, "out-offered" and "outconditioned."
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, j" @- P% a! o( B, BOne 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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- p0 t8 l# C0 V# |5 T' }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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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.7 P; h6 K: e: `4 ^ Y; v7 n
{" j) t g0 q( a; O- |Back in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.3 C, l6 s9 f! e0 N( w" ~, Z0 c
7 Q: ^+ @. Y$ `- _% S- DSo Daly has been checking out townhouses, but even that has been difficult for her.8 i% G! W" c: Y4 V; X1 J
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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."$ g; q z( A* a
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Time has not been her friend. Every month the prices of homes in Edmonton climb higher.
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! j4 J* V* G8 J" mAn 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.
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! y% `' T e2 l- {The president of the Edmonton Real Estate Board, Madeline Sarafinchan, says the hot market is tough for first-time homeowners and single people.* _. V( S& n* K& \' T4 N; K+ z/ q* z
) A, x, H0 G6 E" N& h"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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