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记者的观察
The realities of real estate% h, O T8 M% y% ^) x% Z, W( |
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Published: Friday, October 06, 2006 & ~; I/ Y5 {* @8 ]) |7 e' A
EDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.5 i v ]# ~9 s4 Z
) v4 F+ a% x5 t. U8 k+ \/ zThe 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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% v! \4 F- y! v7 Y* N4 x( c0 q3 _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.# Y2 ?( B' h9 H
! N! t/ }: q4 b/ p4 P- _3 oBut 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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"It absolutely scared me," she says. "I moved here for a house, and all of a sudden a townhouse went from $105,000 to $155,000 and I'm going, 'Oh my gosh. I have to buy really quick.' I've seen it in Vancouver and now I'm starting to see it here and it's frustrating." N" ^$ f" _% o, X* |: c r
; W+ A( j$ h- D7 e9 ~3 k' @Laas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.0 Y& l/ d& ^8 U: \. @! @2 X7 C
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But she has lost out on four places since beginning her search for a house.9 A' l0 M" @4 i5 C4 U- B
% _! y8 [6 j3 }/ k; l9 LShe's been outbidded, "out-offered" and "outconditioned." I& K; ]% Y0 R* T
+ l, m- t1 Q, x+ K; |One house, the one she really wanted in the northwest neighbourhood of Calder, went on the market at 4 p.m. and had multiple offers by 6 p.m. so Laas walked away. In two other instances, other buyers had fewer conditions on their bid to purchase a townhouse, so her offer was dismissed.+ A J! Z/ `* L8 q) l6 a* ^
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Laas says she was in tears because of the experience. She has given up working with a real estate agent to look for a home. She says she's backed off the whole thing, but she keeps her eye open every now and then.
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+ l! l: r$ @4 @) aForty-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.8 j. C0 g, h0 N
2 {7 e) {$ A' e+ Q/ yShe 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., J4 o" S& X! w0 D- W3 L* B
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Back in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.
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So Daly has been checking out townhouses, but even that has been difficult for her., j- h' c6 I( [5 f7 Y
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"The places, when they come up, if they're at a decent price, they're gone really quickly," she says, "so it's a matter of timing.". S6 C. Z0 O9 I1 k% }1 E
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Time has not been her friend. Every month the prices of homes in Edmonton climb higher.
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. L# H! g8 N1 M1 a: }8 Q$ \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 $175,922.. e$ k8 O% d2 b1 a, D/ e; s" a* m
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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.3 q! R5 J' r# E \0 M
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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."' a7 k$ r* J U; Z
8 i" I3 H0 A2 n% ]* t: V3 E; l8 DThat 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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