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记者的观察
The realities of real estate6 _. Q9 K8 k+ J* w0 f# N
& Q9 q: m/ G* dPublished: Friday, October 06, 2006 % u6 f$ j4 t: Y0 ?; G6 ]
EDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.( i# F7 F8 R9 {0 |0 w `% Q4 X
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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.. b/ a1 l: i4 {0 q f; S
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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.' o% c9 |4 w+ \5 T# e
# |7 s) h( U8 q* u% ABut 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.( V" `# E# F& |, \
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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."& ~( T# e; c* F# W/ c
$ i+ p) L# V1 \3 \( YLaas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.6 I- j6 I8 E1 P- Y
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But she has lost out on four places since beginning her search for a house.
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) p- x/ D: W2 `) w2 LShe's been outbidded, "out-offered" and "outconditioned."" e6 a: @& E: S- e9 i3 @3 n+ \. E+ Z
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One house, the one she really wanted in the northwest neighbourhood of Calder, went on the market at 4 p.m. and had multiple offers by 6 p.m. so Laas walked away. In two other instances, other buyers had fewer conditions on their bid to purchase a townhouse, so her offer was dismissed.
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6 Y6 L' [5 B8 G3 |8 q+ n, WLaas says she was in tears because of the experience. She has given up working with a real estate agent to look for a home. She says she's backed off the whole thing, but she keeps her eye open every now and then.6 y2 J. L' G1 C# e' K
! r% @% p f) i% [+ B+ QForty-five-year-old Cheryl Daly is also having a tough time finding an affordable home for her 12-year-old son and a 16-year-old daughter.2 M' _% G7 T$ X3 e5 b+ R
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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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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.5 m/ {, z& f! S) |
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So Daly has been checking out townhouses, but even that has been difficult for her.* y" A: ` W6 o
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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."9 C2 [, ?; t# j
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Time has not been her friend. Every month the prices of homes in Edmonton climb higher.) p9 l, T G: _2 T: s
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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 P0 y8 {. L% z3 f. }; F
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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."% a/ ?! f" a) l& l
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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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