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记者的观察
The realities of real estate
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7 @. S7 F* b# a3 |Published: Friday, October 06, 2006
0 ?- e2 A6 u" 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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' v8 L e( @$ h9 \& F3 lThe 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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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.0 O' P0 t& f0 G. P
4 J W9 ^, z5 G"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 $160,000, but soon realized she had to change her plans. A townhouse would have to do.
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. u, |$ M/ m! u) j% J( q% r. ZBut she has lost out on four places since beginning her search for a house.7 ?* [! |5 b) G. g ^
& X" y5 Y5 k/ N" s% l+ ]She's been outbidded, "out-offered" and "outconditioned."- y; L# e4 n$ s" W; g
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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.
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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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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.4 K* a- a3 d; x% ~0 [
% W# i- ^, v9 GBack in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.
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So Daly has been checking out townhouses, but even that has been difficult for her.
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& A$ W" V* \0 ^8 `"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."# k" p B6 @3 s! I
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Time has not been her friend. Every month the prices of homes in Edmonton climb higher.
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5 M2 m9 O9 J" J- M% u. b/ [, HAn 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 $175,922.
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The president of the Edmonton Real Estate Board, Madeline Sarafinchan, says the hot market is tough for first-time homeowners and single people.* E. r0 H9 u) l+ N$ i
. }3 k2 |, M, R F. W+ {"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."# g$ f' {+ g: |5 L% W
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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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