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记者的观察
The realities of real estate: H2 g, p4 i( _: y3 J n ]
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Published: Friday, October 06, 2006 7 X1 X( O( F. ?; |
EDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.. u2 J8 z: A7 I: n
+ P$ E2 N: T: r6 ~8 v0 n3 `The 29-year-old plumber from Vancouver had no problem finding work in Edmonton with trades people high in demand in Alberta.6 C5 \" o ^2 B5 T7 m
6 Z! ^/ B5 N, c7 @5 C2 r' H/ G9 cShe 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.0 [8 P2 @* K% B, P6 E- a7 B
|6 N) D) B8 \8 k( a; 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.- D: B/ ?( Q$ G9 {
4 W& B/ R% b2 \"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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6 U+ P9 E/ \% ~ }5 H, h( y0 CLaas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.
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6 N* i8 b# M( G& B( g" y" q p; HBut she has lost out on four places since beginning her search for a house.) X. A- M1 H+ ?# O: E
1 x% }* q3 d2 v" PShe's been outbidded, "out-offered" and "outconditioned."
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Z M: H# M. HOne house, the one she really wanted in the northwest neighbourhood of Calder, went on the market at 4 p.m. and had multiple offers by 6 p.m. so Laas walked away. In two other instances, other buyers had fewer conditions on their bid to purchase a townhouse, so her offer was dismissed.
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+ S: `7 z0 \8 M4 |6 yLaas says she was in tears because of the experience. She has given up working with a real estate agent to look for a home. She says she's backed off the whole thing, but she keeps her eye open every now and then.# E5 T9 l2 D6 j ~
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Forty-five-year-old Cheryl Daly is also having a tough time finding an affordable home for her 12-year-old son and a 16-year-old daughter.
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She left a 23-marriage and a 1,700-square-foot home last year. She works as an administrator and now rents a three-bedroom townhouse.# [7 t; ^* _6 `, I, U! p
% V( C$ K) F z0 j9 C7 l4 tBack 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.& n: M- |: P- f6 J e
0 N5 k9 Y3 V0 k' J) {1 w: P' iSo Daly has been checking out townhouses, but even that has been difficult for her.2 G' [( m7 h Z& R+ I
2 @9 f: w7 e6 w"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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Time has not been her friend. Every month the prices of homes in Edmonton climb higher.
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/ z6 }/ h+ M: [, uAn 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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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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"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."' \/ T2 {/ M0 ?* k) C( p& \
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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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