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记者的观察
The realities of real estate
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Published: Friday, October 06, 2006 5 r: u3 m3 W2 o6 Q2 i' F3 _! r6 c
EDMONTON - 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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/ ?( Y T+ S* \) ~: U" g3 a# 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./ ?& T) q' @, l" Y
9 p9 O& y$ Z& @% S7 SBut 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.8 ?8 P- q8 r- k; b1 Z2 ~
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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 $155,000 and I'm going, 'Oh my gosh. I have to buy really quick.' I've seen it in Vancouver and now I'm starting to see it here and it's frustrating."
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1 X5 Z* \4 V2 R; q! Q+ N$ mLaas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.0 V2 D' a9 D, s4 ^4 l$ @. E4 y
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But 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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* t) p" h! c/ N5 @1 n& |; y4 y3 pOne 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.7 E/ Z8 f# ^, s' `
8 L2 s, R& L- }# ^/ vForty-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.7 `$ ^+ N* h. O4 z% w# r7 d9 T
+ C o$ d" J5 ZShe 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.; q$ @, N. P# C, g3 F% Z
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Back in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.
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% N) x. s$ E2 s. f. g( mSo Daly has been checking out townhouses, but even that has been difficult for her.% X. Y8 G8 D" u' t) i w( h. C
. Y& V" u$ x2 r"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.
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* Y) c- U* H6 s! Z. M% `! d"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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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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