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记者的观察
The realities of real estate
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Published: Friday, October 06, 2006 , A0 d/ ]9 Q0 ]/ y. o8 W
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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" B# l' }( Z' I5 R' W+ t/ y4 s$ DThe 29-year-old plumber from Vancouver had no problem finding work in Edmonton with trades people high in demand in Alberta.$ c7 s! M# a+ L. L# \1 x
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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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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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"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."
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Laas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.
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3 L( j, E2 O' y* n. M" IBut she has lost out on four places since beginning her search for a house.
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She's been outbidded, "out-offered" and "outconditioned."! L& O+ t M$ t/ N! a
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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.! v' m8 f0 j) j1 D1 J
$ o. h# d% H8 \: N2 `3 I8 ]& o2 FLaas 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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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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2 }# ?, H. l( C6 J& w& TShe 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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Back in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.
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9 N+ |2 [) e8 MSo Daly has been checking out townhouses, but even that has been difficult for her.
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"The places, when they come up, if they're at a decent price, they're gone really quickly," she says, "so it's a matter of timing.". Q' ^& z4 @+ u# L
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Time has not been her friend. Every month the prices of homes in Edmonton climb higher., Y- B$ u' Z6 K0 [; o6 q
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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.) Y" W4 n+ \) y, g- |- `2 Y. v( t
% n4 Q7 k' L' @8 t1 x6 ?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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0 |2 Z4 q8 I) c* M; F J"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." F# R9 j6 w' @% ]( j; X! Q O+ l
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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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