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记者的观察
The realities of real estate
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, p& `; ?1 M1 P1 MPublished: Friday, October 06, 2006
% A+ R" p" ?) w/ B, R8 i4 v/ _EDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.5 L \) m6 ?8 H, G
/ I" a- c, Q$ d" X+ f7 C8 QThe 29-year-old plumber from Vancouver had no problem finding work in Edmonton with trades people high in demand in Alberta.9 |& Q5 n" D% s1 ?
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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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9 N* v, B' U; L" Z' ~* `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.8 d% h' t' l) m: S
6 h5 W4 ^" ]5 q7 T4 m"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 $160,000, but soon realized she had to change her plans. A townhouse would have to do.4 z9 \0 d* K. F8 U2 V
8 ]" {- y" J: h5 \* y" IBut she has lost out on four places since beginning her search for a house.7 Y5 h/ t6 t0 z" ^
( M b9 z% |9 K5 [( w5 E- HShe's been outbidded, "out-offered" and "outconditioned."5 E6 Z7 y3 g0 ?. g
2 E3 H! I* { \ [& g$ K. E# LOne 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.* p, F1 ~5 {3 m- k; D/ H% ]. D
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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.
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6 R* A) m- g K$ 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. J0 n" \4 i h# u/ R1 D
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Back in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.
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7 X! N% s+ i6 N4 u! f* B7 K! \So Daly has been checking out townhouses, but even that has been difficult for her." Q$ _0 m, ]! j
9 {8 i/ j% y, e7 h- \. `"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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8 O" o3 k( D, g$ {4 C9 a, ?) ]0 ?/ V7 {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 $175,922.8 m" R7 N) u! j% g7 f
/ R1 Y# i2 R7 M$ v: X% R3 A* AThe 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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"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."/ N6 U9 E7 k( u0 u* a
+ ]) V1 S. L$ t& J% j/ f+ r: z+ ^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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