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记者的观察
The realities of real estate
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c' b. ^ l# P8 l8 m+ {Published: Friday, October 06, 2006 $ \$ W- e6 o$ a4 Y. h/ D: h: [
EDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.+ c7 l5 l& Q5 {% s" R
* C( R0 c+ }; k/ ^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.
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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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0 [2 P' V3 `: I2 oLaas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.1 w- S: Y$ F: z
1 | X/ x2 Z8 B3 BBut she has lost out on four places since beginning her search for a house.+ X/ ^4 L/ Q k- z4 \' g* z0 z9 D
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She's been outbidded, "out-offered" and "outconditioned."
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2 }! J: D$ C1 K! NOne 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.5 _: S6 I& {% M/ @1 ~4 ]' h& t
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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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7 Y% ?5 X1 A# P7 OShe 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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5 ?4 |! p) F, a* k' \! dBack in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.& p8 P( V: p8 x$ E, E
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So Daly has been checking out townhouses, but even that has been difficult for her.( {6 Z% o0 M& H6 d
' b7 p/ E6 E: c4 E( E4 c* X2 f" _! H3 b"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."' R2 n9 N) _9 B) s; o
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Time has not been her friend. Every month the prices of homes in Edmonton climb higher.
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# L- m3 [. F9 @, {3 QAn 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 $175,922., h& F1 k" T, y7 {+ C" S
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The president of the Edmonton Real Estate Board, Madeline Sarafinchan, says the hot market is tough for first-time homeowners and single people.
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; J* P0 f$ g; o"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."3 x# \8 ]# B B; |. ^
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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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