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记者的观察
The realities of real estate. r, v, k+ m) d& A P
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Published: Friday, October 06, 2006
( ]" g9 g( d: B& N/ }. C6 uEDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton." W+ s4 y+ q/ g2 u
0 E6 h2 W `4 B7 z- m. p2 }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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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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4 x b5 a G+ P+ {: ~5 YBut 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.5 k: ]9 ]& G: b$ e2 V3 d: v
/ j. |- S1 v9 ^$ q8 n1 ["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 $160,000, but soon realized she had to change her plans. A townhouse would have to do./ e3 V8 p. Z5 d3 r
) m- G0 ?# V% a4 \+ IBut she has lost out on four places since beginning her search for a house.
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She's been outbidded, "out-offered" and "outconditioned."! Z4 F& P! c7 z7 V: c0 I* M
* \! X8 @" J9 N4 E6 d; y$ }- aOne 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.2 w% i; k) i! z8 g. p; P! e
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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.# x' W- X! w3 |( r
( ^4 u! C5 t. \/ a9 ~4 eForty-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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7 t$ f9 D6 s( T/ i }6 |4 t0 A8 uShe 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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1 P) V# Z! r; K6 }/ d7 y. W5 h7 S aBack 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.! c. b9 g( q9 f( d
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So Daly has been checking out townhouses, but even that has been difficult for her.
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0 y5 r- Z! P7 b2 z) B4 u"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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6 x/ u, P# Z4 }8 }6 u/ gTime 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 $175,922.
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! O1 D& {+ |$ Q. QThe 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."
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7 C8 W3 C" x2 I1 W1 N) @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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