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记者的观察
The realities of real estate% E; c# _( g8 O6 f; S4 D, z% h. r
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Published: Friday, October 06, 2006 8 P% f" m& W" e0 ^$ i$ i5 {5 C! I
EDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.9 w- X: c! D' ^) T4 g
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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.
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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." @, r5 f0 z, u* H$ h( K! e
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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."' R& J* [ F. z( Q
* @! ^2 U+ P" g0 [Laas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.: V/ ~3 \3 {- J; b
9 D4 ]' M4 |2 [) d" R' MBut she has lost out on four places since beginning her search for a house.
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* D+ q7 V; C/ D% {She's been outbidded, "out-offered" and "outconditioned."
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One house, the one she really wanted in the northwest neighbourhood of Calder, went on the market at 4 p.m. and had multiple offers by 6 p.m. so Laas walked away. In two other instances, other buyers had fewer conditions on their bid to purchase a townhouse, so her offer was dismissed.' n7 M v }5 b1 d1 v. J0 a
" j9 g; O9 W* f- }+ O1 q' j$ G. aLaas 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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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.1 o5 J5 {" w7 W) E1 e# X
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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.+ f$ q# k: ~0 k6 S9 Z
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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.2 _, z* F& M' x7 y5 S# S2 e4 C
2 {+ [( W' S' E7 H* p0 t% LSo Daly has been checking out townhouses, but even that has been difficult for her.# b' }* L/ O. [; T- M7 q
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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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, {3 R2 U- r6 A: ^Time has not been her friend. Every month the prices of homes in Edmonton climb higher.! f' t8 O+ q K5 p+ d
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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 $175,922.$ T3 a' G) q- l$ U9 P
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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."
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9 x: @# A3 n2 J' b4 A# h" dThat 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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