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记者的观察
The realities of real estate
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Published: Friday, October 06, 2006 " W" \- r: Q) c- g4 H, h
EDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.: N* X _, u H" c8 h, t' W& t
) w+ D8 f) U& vThe 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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/ Y0 y2 C, I: p1 h( ^& rShe 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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' ^$ V" y% P. o. ["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."5 {1 F; B0 x5 b% Q+ R
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Laas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.
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5 \# D2 P+ w, ^2 k. Z$ I9 Q) }# a8 p9 a* ZBut 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."
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4 v) l9 S& I5 ?" z( POne 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.; ^" R. d% G# k5 l
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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.1 a8 P( y4 m; i( R7 D4 w& n
. u! r, e6 t3 x8 U& \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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+ Z6 r: h$ t/ L. ]; S4 S2 EShe 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.* E- x* ]& ]* Q9 V" s8 h
1 q$ e7 {; {' lBack in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.
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So Daly has been checking out townhouses, but even that has been difficult for her.5 b) W, T4 ^7 W7 n' e( J
- J. n$ [5 p; S; |( Q"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."5 ]3 @5 ^+ r1 U# W% t1 z- P
, E4 D8 t1 l! nTime has not been her friend. Every month the prices of homes in Edmonton climb higher.
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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 $175,922.' D+ t& ?5 B. ?4 b' P
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The president of the Edmonton Real Estate Board, Madeline Sarafinchan, says the hot market is tough for first-time homeowners and single people.1 K3 D& h; e, H9 \2 H
( D5 X# [$ W6 B"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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