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记者的观察
The realities of real estate
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Published: Friday, October 06, 2006
/ `, X. v: D2 h# W, v7 v" qEDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.* Y6 E0 N% A" Z1 C+ t" C8 H. k
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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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4 }2 e) `, y% C5 [! g: t* l. CShe 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.' S6 k5 Q7 v0 i5 |! K2 ^' r) V
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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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0 U4 g3 I( W3 p Z7 d"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." D6 F9 H* }- c# s( t
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Laas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.9 o9 O! o! O1 p
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But she has lost out on four places since beginning her search for a house.
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She's been outbidded, "out-offered" and "outconditioned."5 w' M3 u) }( p9 u9 X7 j3 W
3 r9 K7 d8 ]. e5 c- OOne house, the one she really wanted in the northwest neighbourhood of Calder, went on the market at 4 p.m. and had multiple offers by 6 p.m. so Laas walked away. In two other instances, other buyers had fewer conditions on their bid to purchase a townhouse, so her offer was dismissed.
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; ~- K* `" n0 F% X wLaas says she was in tears because of the experience. She has given up working with a real estate agent to look for a home. She says she's backed off the whole thing, but she keeps her eye open every now and then.
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5 x/ B7 H; v3 Q, o$ P( Y7 zForty-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.1 i% W/ U9 H# M. }4 ~+ a9 n
8 P* w- K4 W% jShe 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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! T! J8 i# {' \$ H1 UBack in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.
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, q& |9 w/ |8 k$ hSo Daly has been checking out townhouses, but even that has been difficult for her.
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' g1 h# ^8 T6 K"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.") A% A7 z |- |8 A v
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Time has not been her friend. Every month the prices of homes in Edmonton climb higher.
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# D+ k j3 h5 ]3 X6 I; s# _4 k) VAn 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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* B, \1 R I8 K9 V& pThe 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."& A/ }6 r) q, @; W& i
|7 E/ Y2 X. K" D, C8 C `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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