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记者的观察
The realities of real estate
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, ]- \6 {7 ^% [Published: Friday, October 06, 2006
: B# Q( _& _$ p6 [2 b+ d7 vEDMONTON - 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.
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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.+ s4 d0 X' j9 W6 c A
$ X9 n. N1 r* x8 F0 K! JBut 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.$ W8 p9 n$ \! M1 b
9 T- X% t1 g- e; g) u# H"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."9 U& P1 {( W4 {5 r8 y
9 ?6 T- |0 G* `% Q( h8 ~5 W- RLaas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.- q4 Z% }2 l2 b
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But she has lost out on four places since beginning her search for a house.
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She's been outbidded, "out-offered" and "outconditioned.". ~7 N# P# C. W9 X
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One house, the one she really wanted in the northwest neighbourhood of Calder, went on the market at 4 p.m. and had multiple offers by 6 p.m. so Laas walked away. In two other instances, other buyers had fewer conditions on their bid to purchase a townhouse, so her offer was dismissed.
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Laas says she was in tears because of the experience. She has given up working with a real estate agent to look for a home. She says she's backed off the whole thing, but she keeps her eye open every now and then.; \" l+ t: b( V% A7 W: x) Z, |+ c
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Forty-five-year-old Cheryl Daly is also having a tough time finding an affordable home for her 12-year-old son and a 16-year-old daughter.
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She left a 23-marriage and a 1,700-square-foot home last year. She works as an administrator and now rents a three-bedroom townhouse., `1 p: y7 G* q$ N% D7 H
& N* ~; d. q" V3 i: O$ y" E* ]Back in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.) A5 o5 a9 c1 M- H5 Z
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So Daly has been checking out townhouses, but even that has been difficult for her.
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, } b5 v/ i; {"The places, when they come up, if they're at a decent price, they're gone really quickly," she says, "so it's a matter of timing."( h6 ~. W! q. w: M
' X8 {& J$ i& H9 p1 f/ G u9 STime 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 $175,922.
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The president of the Edmonton Real Estate Board, Madeline Sarafinchan, says the hot market is tough for first-time homeowners and single people.
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"It's definitely making people think about what their options are," Sarafinchan says. "They're having to look at things that maybe are not as what they would have termed as desirable."% ^7 K: ^+ O+ e& @
) q& J5 X$ g' U' x; M: d6 PThat 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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