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记者的观察
The realities of real estate
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Published: Friday, October 06, 2006
7 K, \& j) F5 W6 v6 M. _# x7 m6 FEDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.
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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.% |/ O/ h1 z3 S. i+ s% t8 i
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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.( g4 z2 Z% F- m2 U
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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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9 _5 i( l: r* y( @4 a* g9 b2 Y8 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 $160,000, but soon realized she had to change her plans. A townhouse would have to do.3 f% b y" Q9 O: y* P$ m+ W; P
1 I, u1 G5 Q# W0 KBut she has lost out on four places since beginning her search for a house.# S8 o+ J0 N9 v! @5 I' B. G
* y5 r8 S3 V' P; n* p! {% O) X: oShe's been outbidded, "out-offered" and "outconditioned.". ^2 w# [: p1 g/ C( F' k# E+ I/ C1 a
9 r' \% ]9 q S, hOne 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.0 F* Z2 G% T4 A! U `. ]
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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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4 D& e6 W- W' V- ~8 p [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.
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/ D/ _( m) O, M& _" L$ {1 xShe 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.: r l3 f' S2 @" S. X5 s
0 V7 j7 m% O! ^, oBack in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.$ b: V' E- o# h7 p/ x& T4 n
; o2 R+ A( j9 G! N" @4 A5 LSo Daly has been checking out townhouses, but even that has been difficult for her./ s) ^3 ? `+ l
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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."1 H& a R9 e8 U
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Time has not been her friend. Every month the prices of homes in Edmonton climb higher.3 [& c! t' m0 D, u# y" k! D5 @3 B- ?8 z
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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. Z" }- H- `; g) v2 g. n) P
# q5 `& R9 w5 P1 d0 L8 M' |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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' R. {# \4 k! }; B5 ?& X"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.": Y/ D5 M. x5 ~/ V5 y
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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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