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记者的观察
The realities of real estate
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" O6 t5 X/ J; Y& i2 U: mPublished: Friday, October 06, 2006 1 \. t/ K/ L) B6 c- V
EDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.1 v5 x% h1 H. X; S9 q
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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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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., m, ?: A7 s2 }. {: t8 e
: x2 J1 q$ @, gBut 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.( h2 ^% |" {% p$ X* u
8 u& s" L+ H( @+ f0 u+ e! X"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."7 K1 P! |% F3 G/ |' x# K8 Q
4 o# u' @! I3 p0 f, u6 \- aLaas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.
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But she has lost out on four places since beginning her search for a house.
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8 x' m$ |2 l) x' p9 XShe's been outbidded, "out-offered" and "outconditioned."' X/ d1 ~: s: u d) q. r
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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.' B6 h$ x% B/ f5 k
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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." q" M# u. \6 F9 z z3 k0 G
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Back in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says./ `* Y3 S0 W& d8 W. p' U
2 a( o' X) p+ k* Z; G4 e, VSo Daly has been checking out townhouses, but even that has been difficult for her.
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3 b- h0 {& [; _7 z$ |" ?+ K"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."( w4 K5 g) F, A
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Time has not been her friend. Every month the prices of homes in Edmonton climb higher.
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0 s8 G# ]) n: D' sAn 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 $175,922.) {( m x- u- w: f6 v) H' ^& B+ A$ w
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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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"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."/ u. T4 K& J- r K7 G0 N
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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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