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记者的观察
The realities of real estate
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Published: Friday, October 06, 2006 ' ^& ?, x7 P* F4 L6 U: M0 t
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.7 w3 D U& T& L1 r S7 [) U
- O2 R% \! `" e7 O- mShe 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.* s0 A: r' H/ i, J
, t4 A) o$ o# Q- KBut 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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0 p/ E: r& c: E9 D' m+ ~; Q4 a9 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 $155,000 and I'm going, 'Oh my gosh. I have to buy really quick.' I've seen it in Vancouver and now I'm starting to see it here and it's frustrating."/ {6 r6 R4 I4 T' J
3 O$ j* v& A: r1 A) n0 E0 ?( \Laas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.! }5 M% w0 p) V% y) ^4 ?
4 m4 w/ j+ X# e2 G9 ^$ YBut 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 x/ q j/ V) D5 { w
2 t3 A; g; V" y' s* d; V4 NOne 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.: Q/ e- C5 o4 I$ K
: ?% `( `6 J! V' a# p2 BLaas 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.+ E4 v' Z8 w; C7 Z: H
, b8 k/ t6 R2 h% a! FForty-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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) D% l, K9 \' I1 R% u4 LShe 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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8 x8 G8 V5 |: r7 e* ^, I9 ABack in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.
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- g; |/ C: [- t. x" E, T- hSo Daly has been checking out townhouses, but even that has been difficult for her., z, V( y! y- L a# i
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"The places, when they come up, if they're at a decent price, they're gone really quickly," she says, "so it's a matter of timing."
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: H! ^2 p$ G6 r$ cTime has not been her friend. Every month the prices of homes in Edmonton climb higher.# g9 Y( }+ A8 C8 w. U
7 f- F" C% f) o2 e& h& K1 mAn 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 $175,922.
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1 _8 ]. q$ P& g3 t1 Z1 BThe president of the Edmonton Real Estate Board, Madeline Sarafinchan, says the hot market is tough for first-time homeowners and single people.+ V) |- v0 ?3 ` e4 D
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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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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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