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记者的观察
The realities of real estate
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Published: Friday, October 06, 2006
, B" V n) U0 o+ l4 E9 s) q1 cEDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.
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# m8 ?8 K- S2 [; q# X/ o( PThe 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.) v! Z w/ L) Y1 K# g
4 V& ^5 `: O! ?' 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.
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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."' {' S9 n: h4 x* k
) N3 J. @' M! r) e% f3 @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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She's been outbidded, "out-offered" and "outconditioned."6 ^# ?0 r. k5 l/ f4 W" u
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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.: i% c0 j9 {6 i% l" O! A
# ^, T2 d4 Q" k6 a+ v% zForty-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 E% A! b; h w' v! j, z }: |
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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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Back in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.; X$ e8 m1 j+ E! r1 ^6 V x8 ^& L
# }- U1 g) o+ H ^4 U* SSo Daly has been checking out townhouses, but even that has been difficult for her." t e$ e- c: m7 x1 h8 f
) L* H/ l& 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."% t2 B5 d& Q; E5 x9 K2 j: g3 x* I7 x
$ F7 g; q; p* ]$ J0 I ~Time has not been her friend. Every month the prices of homes in Edmonton climb higher.( Z5 m9 w! _, |9 _& M9 [
. P U( d/ I) u* G% C( ?: s0 UAn 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 $175,922.3 |( Y& c" o6 I" b0 _
- m6 F; b5 K5 i$ RThe 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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! [' o* d0 N, yThat 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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