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记者的观察
The realities of real estate
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# Y4 L9 o+ F& `9 A" ]' @- S: aPublished: Friday, October 06, 2006
& |; H* j: c) J( Y) X i4 SEDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.& D+ a1 \& ^/ I* w: n' F
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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.
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+ V k! N: z% 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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"It absolutely scared me," she says. "I moved here for a house, and all of a sudden a townhouse went from $105,000 to $155,000 and I'm going, 'Oh my gosh. I have to buy really quick.' I've seen it in Vancouver and now I'm starting to see it here and it's frustrating."- K$ H% t0 b! L& P7 N0 R
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Laas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.
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But she has lost out on four places since beginning her search for a house.# a9 W7 P* Q+ f$ C, i- x
) R3 b! d1 b" ~; F4 SShe's been outbidded, "out-offered" and "outconditioned.". k0 Y" r, y/ b+ @6 k
+ ~& g& b- a6 }) H% @: ?' wOne 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.! Z) ~: |9 m' o6 w# X3 q6 F
3 e7 q3 P {3 hLaas 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.! G6 Q- c5 K" S. O
& R) p. a% g+ f, V! 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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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.2 R. n& O3 ~% c
4 Y8 p' I) I B4 nBack in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.
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% o0 F. Z$ W8 ]) y, L9 e! V- n( FSo Daly has been checking out townhouses, but even that has been difficult for her.+ g; I, G, u9 [& E3 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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0 [1 _ U0 Y1 `1 `# }) S# K' _Time has not been her friend. Every month the prices of homes in Edmonton climb higher.( X* k' P# F6 N* Y0 |
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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 $175,922.5 \5 Y$ g9 Y) O+ _* 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.. O+ M# r- h6 K' 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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