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记者的观察
The realities of real estate
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( Q3 M* n% F, ~6 v& k* h' APublished: Friday, October 06, 2006
! b# w7 H$ G. Y& v3 ^8 lEDMONTON - 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.2 i1 B" G# ]7 F3 o% I9 e, R3 x6 @" }& k
, L4 N7 c7 p+ d# @3 l- S0 W; iShe 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.: `+ r; o W- E: _* A( ~
! q E0 p# D. s& q1 pBut 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.& f& s7 M. j+ L2 l& {. L
. j0 q% `4 k0 A( c; t; L"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."2 H( m; s& b/ _- q4 L- Y+ ~
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Laas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.# c0 l+ f' v2 e* w1 V. q
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But she has lost out on four places since beginning her search for a house.( C7 A8 Z! W& t3 K* ?0 m" z
: K6 }6 f8 b8 _* ^, j; v, }6 bShe's been outbidded, "out-offered" and "outconditioned."6 e& T' x. D2 w. ~+ P" W
& _$ E; U( ]; n+ P1 z( aOne 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.' M$ @2 m( N8 Y
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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.. x$ K# w8 H; X/ n
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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.+ J! `. w* F- \; b) ~
8 I0 I: X4 Z' S" nShe 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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; Q+ j0 W- U6 EBack in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.
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9 q6 j% I/ P) @( Y m! {3 F# F5 T# S# Y) `So Daly has been checking out townhouses, but even that has been difficult for her.
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4 W& c$ }* P% i8 j# Z1 q"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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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.
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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.% q: y1 ~1 D q* P2 f; u) g
; C6 J6 m% N4 c C8 |1 T"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.", C1 H# b0 g9 T' B, b
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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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