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记者的观察
The realities of real estate
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, w3 c& k$ O F: c9 m/ b B& ~8 fPublished: Friday, October 06, 2006 ! e! v) Z- I/ V; x" @3 _* b" u2 }* y
EDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.. a1 s5 \1 J; s
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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.
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# H% P% U. b- ]& w9 M: ]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.
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0 b7 i1 s1 S% s$ e) h" T* M"It absolutely scared me," she says. "I moved here for a house, and all of a sudden a townhouse went from $105,000 to $155,000 and I'm going, 'Oh my gosh. I have to buy really quick.' I've seen it in Vancouver and now I'm starting to see it here and it's frustrating."% c4 ^0 ^0 s, K5 r: b2 q8 n. p
# q3 ~2 I4 B h' s$ `. _: `Laas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.
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But she has lost out on four places since beginning her search for a house.+ t6 m! l& Y+ ]# {) N0 p% O' f) w! U/ P
' s5 i$ l7 ]5 s$ f' |+ E% X; P/ | @# W& u/ cShe's been outbidded, "out-offered" and "outconditioned."
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) u% k; x5 K @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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1 m* D- g, Y! Q; JLaas 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.+ G1 x1 a/ Y( P1 t4 G r, ~
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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.
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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.8 u9 Z2 i) s, F3 R$ |4 M1 N$ ?' E
; Q: O, N- j* L; b3 k& I" Z' | 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." B6 G5 h, M% Q/ H: S
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So Daly has been checking out townhouses, but even that has been difficult for her.. x& N& r2 n# k( [- F6 v
# r3 H: a: q8 {* d+ o" x: z' I"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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) d3 Q6 P: l3 r' U9 [Time has not been her friend. Every month the prices of homes in Edmonton climb higher.! f. W9 a7 s- t
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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 $175,922.7 G, z/ ~6 W7 ]" ^
, o5 f4 p O' Y0 e0 W6 RThe 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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& |" H! M k# o# M" k"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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0 I+ n, x& y+ ]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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