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记者的观察
The realities of real estate# ]+ }- u% B/ b, p4 J9 }) b
9 N8 J( v# m* b4 m2 Q* IPublished: Friday, October 06, 2006
) C, {+ \& E: i0 p7 IEDMONTON - 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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7 [6 h) \9 L7 sShe 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.+ Y) g9 w% ^% O, f3 y8 G
% K: @4 z% V7 J4 cBut 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.. v* g/ F: G" x# O* w8 t
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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."
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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.
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But she has lost out on four places since beginning her search for a house.
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/ C% [8 @' T8 k5 ]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.
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9 u- _: T6 x% w+ vLaas 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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. K, J" {7 u2 I9 L4 i" L1 }! uForty-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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) ]/ B4 [. l4 d# j/ b; r+ U3 lShe 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 R, g8 r2 o/ B9 w
- Q+ C" k- N' ~3 h/ sBack in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says./ |5 Z3 }: Q2 k0 O- Z' _" q
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So Daly has been checking out townhouses, but even that has been difficult for her./ K* Y" {4 ^5 T5 @% R: I
, E. l O; @) E7 d0 O3 i h"The places, when they come up, if they're at a decent price, they're gone really quickly," she says, "so it's a matter of timing."( R5 K" v$ b, G4 r3 t0 G1 u! z
3 V# @8 p% u8 Y' VTime has not been her friend. Every month the prices of homes in Edmonton climb higher.7 T' H7 D+ G2 s5 w) s
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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 $175,922.7 g5 }, c# ]. @. R& C6 n
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The president of the Edmonton Real Estate Board, Madeline Sarafinchan, says the hot market is tough for first-time homeowners and single people.7 x& ^8 N. Q' q r, R7 P/ x
/ m$ C5 n9 L0 x( }$ l: z9 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."& T' p5 |- y( j
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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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