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记者的观察
The realities of real estate
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Published: Friday, October 06, 2006 % q7 c+ D5 F* K' u8 y! r& r2 O
EDMONTON - 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." y: \6 Z- S! c' n
, C7 ]% V/ _3 Q) Y$ ]% YShe 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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7 B2 s' ]+ O$ \( uBut 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.4 A2 Q# p4 k* j% L
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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." V/ h( h: h( [, m( M
9 T/ m0 b2 B& _7 n5 `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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) S0 u& n/ A9 w. J5 y6 V+ \( nBut 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."- a$ H- t# I8 l: p: `1 s: m
$ ?1 ^" M0 d3 J% y, {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.
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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.
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# G) d' F: L+ H5 eBack 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.
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& r: K. P% D8 e: aSo Daly has been checking out townhouses, but even that has been difficult for her. Q" g) ~7 V7 w4 {; p' {& i2 `
3 ^( d7 l5 C1 _* N" r6 J) l"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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Time has not been her friend. Every month the prices of homes in Edmonton climb higher.) b: h; p3 C: o+ O( N4 V
7 R* C: K* C6 r0 c6 b' n; RAn 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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. T2 z- d9 V1 U- P' A. t, u/ jThe 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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7 b* \1 Y4 X4 M" b2 O m: _"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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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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