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记者的观察
The realities of real estate0 J2 L7 ]# H$ H6 X0 C0 o$ o
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Published: Friday, October 06, 2006 4 [6 ~% J6 J0 Y0 s
EDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.2 e) b1 F# ~5 M) w2 p% Z# d
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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.1 @& W# N' ?0 G5 |0 z+ d. Q I
8 }( e; b4 r- U, H) r5 ` B; s: ?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.$ C/ D; i+ {" Y* G2 l& C6 \# ?1 @
6 V* M$ Z; {5 xBut 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.2 o4 C& w5 x* I: b" w
- |7 x; G$ A6 }! w4 y6 n; `8 S: ~& W"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 $160,000, but soon realized she had to change her plans. A townhouse would have to do.- W6 h: D; _% n
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But she has lost out on four places since beginning her search for a house.
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She's been outbidded, "out-offered" and "outconditioned."
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' ]! `+ n$ d% S6 {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., I5 S {8 X' s
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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.5 o1 @) q8 e# o6 r+ v' {5 { n0 V
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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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8 q k# o1 x0 tBack 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.4 L" z( `& O; {) L, ^
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So Daly has been checking out townhouses, but even that has been difficult for her.9 ?7 a4 L) {! r
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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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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.
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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.
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- s1 W2 T0 t p"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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