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记者的观察
The realities of real estate
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Published: Friday, October 06, 2006
# x9 w, w8 y' V7 r$ R3 ^4 ?4 a9 o, ?3 {EDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.. F. [& m6 ], R( ]4 v* \8 ~
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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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( c+ b" m/ \6 j5 TShe 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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& I3 ~% g2 C1 a6 {1 A"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."/ u0 v4 m; l' X7 Y+ O1 L4 E/ {
9 o# k. g0 k2 K `* QLaas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do./ [2 x1 Z% O( m' Q0 H* W- R
. t* Y) t" H: hBut she has lost out on four places since beginning her search for a house.
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She's been outbidded, "out-offered" and "outconditioned.": `" P' n1 k0 [, P& x7 ~# d* P
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One house, the one she really wanted in the northwest neighbourhood of Calder, went on the market at 4 p.m. and had multiple offers by 6 p.m. so Laas walked away. In two other instances, other buyers had fewer conditions on their bid to purchase a townhouse, so her offer was dismissed.
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# T2 Q @0 I0 @* g, u+ ?Laas says she was in tears because of the experience. She has given up working with a real estate agent to look for a home. She says she's backed off the whole thing, but she keeps her eye open every now and then.
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1 `3 L8 S9 K/ H5 S+ w6 HForty-five-year-old Cheryl Daly is also having a tough time finding an affordable home for her 12-year-old son and a 16-year-old daughter.! r' S% N$ @) R9 z. o+ ~( q8 x
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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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% ?- Q! Q: @ q! |# e XBack in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says." ~% @) Q: M7 @9 I' I! B. ?
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So Daly has been checking out townhouses, but even that has been difficult for her.6 R1 Z( i" ^/ p7 F5 ]+ P
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"The places, when they come up, if they're at a decent price, they're gone really quickly," she says, "so it's a matter of timing."" T( p: q1 R- S1 T7 S p$ ^+ I/ i
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Time has not been her friend. Every month the prices of homes in Edmonton climb higher.8 l$ y6 j4 D1 [( B6 T3 I+ m
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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.
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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."
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, ]* k, d# U( DThat 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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