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记者的观察
The realities of real estate
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; G$ ^, D% j2 l c( dPublished: Friday, October 06, 2006 , ` ^/ U! D7 I: _8 u
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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7 c. g8 [8 D z# J5 d) oThe 29-year-old plumber from Vancouver had no problem finding work in Edmonton with trades people high in demand in Alberta.0 ]% b" o( ~3 l3 F5 L: g6 G; K
1 N: x) B* Y9 W' o* `( X! jShe 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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4 S3 v, s! W/ q. ?% G1 A, D"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 $160,000, but soon realized she had to change her plans. A townhouse would have to do.+ C: Q* `/ k2 |/ U L3 b; r9 }
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But she has lost out on four places since beginning her search for a house.
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6 P% h- l G5 R" X- c+ wShe's been outbidded, "out-offered" and "outconditioned."' L# Y/ z) ^: I8 r0 M! o' I
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One house, the one she really wanted in the northwest neighbourhood of Calder, went on the market at 4 p.m. and had multiple offers by 6 p.m. so Laas walked away. In two other instances, other buyers had fewer conditions on their bid to purchase a townhouse, so her offer was dismissed.
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7 X" l7 N7 d) |- Q7 S5 FLaas says she was in tears because of the experience. She has given up working with a real estate agent to look for a home. She says she's backed off the whole thing, but she keeps her eye open every now and then.
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7 e9 [' D4 u& ~% t- p% YForty-five-year-old Cheryl Daly is also having a tough time finding an affordable home for her 12-year-old son and a 16-year-old daughter.
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4 d5 `( R* k: p' t7 {She left a 23-marriage and a 1,700-square-foot home last year. She works as an administrator and now rents a three-bedroom townhouse.
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( E3 v& l- Q$ @' H) i9 n" nBack 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.# F6 i& L+ a9 i1 y4 N
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So Daly has been checking out townhouses, but even that has been difficult for her.
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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."
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: | {: _1 [6 n* ]0 i7 ATime 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.
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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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4 N. C4 Z' B* X3 C1 {- W& R: \9 X" s"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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