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记者的观察
The realities of real estate) ?, m8 k! x8 F ]4 @
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Published: Friday, October 06, 2006
4 n$ H2 _3 f* u5 tEDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.
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( F3 C2 a) u1 z( X/ hThe 29-year-old plumber from Vancouver had no problem finding work in Edmonton with trades people high in demand in Alberta.; l/ L1 R+ A9 P4 z
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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.) y/ j5 v* u3 O" f1 ?2 A: t
$ k# u& M g# F"It absolutely scared me," she says. "I moved here for a house, and all of a sudden a townhouse went from $105,000 to $155,000 and I'm going, 'Oh my gosh. I have to buy really quick.' I've seen it in Vancouver and now I'm starting to see it here and it's frustrating."" A3 Y" w% \$ ~# d
( A* Q$ ~2 i' }( k' Q7 jLaas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.- A( a9 w; I2 x9 S7 c; _
/ |* ]! t0 b. O& OBut she has lost out on four places since beginning her search for a house.
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She's been outbidded, "out-offered" and "outconditioned."8 a* ]6 c; a# @8 V6 v
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One house, the one she really wanted in the northwest neighbourhood of Calder, went on the market at 4 p.m. and had multiple offers by 6 p.m. so Laas walked away. In two other instances, other buyers had fewer conditions on their bid to purchase a townhouse, so her offer was dismissed.3 L4 @4 [1 M `4 e; f* u, f$ s
3 W0 D7 E2 Q6 ~* E7 M) JLaas 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.& g& ^: M! C/ n2 q8 x' r4 A
) r% X: i9 N9 P- m9 E. a+ ]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.; k. I- d, G" ]5 p( S2 o
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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.* ^. I+ ]0 u' f7 b2 W
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Back in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.6 p/ D' E6 `5 H% t3 G
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So Daly has been checking out townhouses, but even that has been difficult for her.
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5 r( _. z$ l; }( v# ?2 J2 k5 Y0 I"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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Time has not been her friend. Every month the prices of homes in Edmonton climb higher.
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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 $175,922.7 O1 Z+ Q7 O8 M. f9 Z
, k& x* t, k3 z3 fThe president of the Edmonton Real Estate Board, Madeline Sarafinchan, says the hot market is tough for first-time homeowners and single people.! P' n/ v- I0 v- N ~
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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."# K! L8 B% C/ `* g4 O7 E
$ G& q) |- C& G1 z) RThat 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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