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记者的观察
The realities of real estate
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* p r" U, m8 J, f% x+ j' yPublished: Friday, October 06, 2006
, j- J, u k6 n! e$ M7 H+ n& i" R% E9 EEDMONTON - 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.
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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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& V6 y. o9 n6 kBut 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."4 T6 T& d8 G* B
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Laas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.$ V* Z" B3 o' `; c' @/ |0 C: \ n
# P( A( W) s/ ^9 } bBut 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."
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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.
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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.9 M; H( }, E3 I2 ?3 z
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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.
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) W) H$ D! W. U8 g1 u1 O) a+ d4 jBack in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.
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So Daly has been checking out townhouses, but even that has been difficult for her.
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& ~ r* b/ z8 O7 f$ V9 c"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."* \3 L6 u6 Q: X! R2 P* o( D `8 a
- N6 T5 ^7 O; W& ?! s, C% u3 C" BTime has not been her friend. Every month the prices of homes in Edmonton climb higher.
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' }' ~- D/ A, i: |" N6 J9 H, {# ]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 $175,922.' {" ~. ~' A* c$ h
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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.4 o2 V, e2 E+ x
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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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6 R$ n2 m0 I; @3 MThat 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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