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记者的观察
The realities of real estate
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Published: Friday, October 06, 2006
5 _- \6 w1 E) A+ YEDMONTON - 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.
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* g: \7 S j/ qShe 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 $155,000 and I'm going, 'Oh my gosh. I have to buy really quick.' I've seen it in Vancouver and now I'm starting to see it here and it's frustrating."" d5 [& }: U6 J+ ^$ \' w: P, j
4 b# M6 O7 j* f1 r, e6 X# j0 {Laas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.- Q6 v& e# r. T# s7 K! n
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But she has lost out on four places since beginning her search for a house.% J) i3 |% M% X! g" F0 Z! g
& {- r( t- Z2 j8 G* k3 R; rShe's been outbidded, "out-offered" and "outconditioned."8 r; h: \9 s! v, B* R
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One house, the one she really wanted in the northwest neighbourhood of Calder, went on the market at 4 p.m. and had multiple offers by 6 p.m. so Laas walked away. In two other instances, other buyers had fewer conditions on their bid to purchase a townhouse, so her offer was dismissed.
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Laas says she was in tears because of the experience. She has given up working with a real estate agent to look for a home. She says she's backed off the whole thing, but she keeps her eye open every now and then.: P7 s! { R% ?, S# [& C1 X
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Forty-five-year-old Cheryl Daly is also having a tough time finding an affordable home for her 12-year-old son and a 16-year-old daughter.9 @2 ]5 ^+ Y" F1 P! T4 }/ B- `, S
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She left a 23-marriage and a 1,700-square-foot home last year. She works as an administrator and now rents a three-bedroom townhouse.0 B% \6 A, G8 q: f& |$ U8 ]/ r7 u$ B
" _ L! [) K2 J- m& g1 Y# }$ GBack in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.
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5 |3 ^/ o( O( z6 w" }8 ]& vSo Daly has been checking out townhouses, but even that has been difficult for her." t9 `7 B. @$ B: L
& T v9 X8 y) U. k+ a7 a"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."" p, |+ d9 H" k9 @- `
% E+ R* s+ D# }; e/ h* {Time has not been her friend. Every month the prices of homes in Edmonton climb higher.9 H6 @# C" j. A2 }: ~, y4 T; D" N) ^
& G, l3 g4 i7 F, n& _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 $175,922.
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8 G& h2 m0 N& i$ FThe president of the Edmonton Real Estate Board, Madeline Sarafinchan, says the hot market is tough for first-time homeowners and single people.: u+ G- D; a! y8 @- @3 C1 Z4 L$ S
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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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