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记者的观察
The realities of real estate
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1 p7 T3 m2 N) Q E. i; |Published: Friday, October 06, 2006 5 Q$ `7 s5 h5 C' ~* q
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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: H! m; k9 w) l4 E( K6 C$ zThe 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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: x, y- B8 ^( k4 o$ U8 a* }. BShe 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.' G0 P9 Q; ? ~9 T
- o, w; g1 |; r: q- f8 M" h8 zBut 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.( F3 M& m7 c: q( M
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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."( b. z: H c6 Q% V4 S
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Laas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.9 t; i( M2 v* e) X* l1 v
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But she has lost out on four places since beginning her search for a house.
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She's been outbidded, "out-offered" and "outconditioned."( Z3 j# u5 Z# s+ d, l1 f) }5 _1 M" o
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One house, the one she really wanted in the northwest neighbourhood of Calder, went on the market at 4 p.m. and had multiple offers by 6 p.m. so Laas walked away. In two other instances, other buyers had fewer conditions on their bid to purchase a townhouse, so her offer was dismissed.% J: g7 G/ v; ^; H
/ D0 E4 _% B$ G% F6 MLaas 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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$ P$ P2 }) M$ r D6 pForty-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.
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- F. l" D# h# w3 I* K$ o2 U% O6 [5 {# zBack 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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So 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."
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J. S, z- d9 f. i4 I/ s" r& O6 xTime has not been her friend. Every month the prices of homes in Edmonton climb higher.3 \+ q& y! l1 |1 P/ J
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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.! N u1 C/ A* E& D+ t. f: W! S
7 ?- }3 f/ l( X6 M4 [% ?" TThe 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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' t. {: M3 a3 J- z% {' v" v"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."' B( ~, a' N: y; d' M# x
/ K% P1 L4 Q7 O% D [& xThat 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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