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记者的观察
The realities of real estate
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Published: Friday, October 06, 2006
1 U! e+ z- g8 l" c" Y" WEDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.; {% @6 w; E6 U9 l
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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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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./ s) P. }( w& H" e
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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.* C. X2 h6 i# ]% U' M( D1 Q
; S- ]( v( n. b"It absolutely scared me," she says. "I moved here for a house, and all of a sudden a townhouse went from $105,000 to $155,000 and I'm going, 'Oh my gosh. I have to buy really quick.' I've seen it in Vancouver and now I'm starting to see it here and it's frustrating."7 L6 X4 R0 }) X$ `( s/ J
! v' w0 x; ?7 x+ V) sLaas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.
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But she has lost out on four places since beginning her search for a house. J0 M$ F/ V& u2 T, R
# ], X) N6 y8 u) pShe's been outbidded, "out-offered" and "outconditioned."
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3 T/ {" ^& } P) Q1 i/ \( U% eOne 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.1 S S; T& e. {- B6 J, g
, w" p `. \% F `* t+ m. `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.+ G+ H: Z: w( \. Q
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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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8 v; A% V, w4 f: G; n# O# E# a8 ?1 ]So Daly has been checking out townhouses, but even that has been difficult for her.
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' w- N* N4 f" u( N" G& p# b* l"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." i6 y) W X4 d
1 l% L0 {4 M6 s1 [Time has not been her friend. Every month the prices of homes in Edmonton climb higher.2 h% z: W! ~& C5 k4 L
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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.' j: G! F! q" l! C I* |
" u5 C' r. n1 t0 j! j3 h5 CThe 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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8 I3 G* n1 _# v/ m6 Y( J. _"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."4 S+ g' D# W. m
, Z, ^: K4 }( v+ K; {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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