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记者的观察
The realities of real estate
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Published: Friday, October 06, 2006 , F" t: @ | z% ^& S0 Z- }
EDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.! |3 h* y# ?. L9 k/ k% |
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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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. S; Q% D t# n3 Y; x4 t- TShe 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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But 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.1 a2 G" Y% F) y" P
: x& p( O' F. Y$ O0 w6 `"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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- L* s9 X; j" B8 d( T: g, BLaas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.2 {0 e4 X* g* c1 ^; w1 l
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But she has lost out on four places since beginning her search for a house.
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5 U/ S) }8 I: @, B. xShe's been outbidded, "out-offered" and "outconditioned."
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One house, the one she really wanted in the northwest neighbourhood of Calder, went on the market at 4 p.m. and had multiple offers by 6 p.m. so Laas walked away. In two other instances, other buyers had fewer conditions on their bid to purchase a townhouse, so her offer was dismissed.
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Laas says she was in tears because of the experience. She has given up working with a real estate agent to look for a home. She says she's backed off the whole thing, but she keeps her eye open every now and then.
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Forty-five-year-old Cheryl Daly is also having a tough time finding an affordable home for her 12-year-old son and a 16-year-old daughter.
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She left a 23-marriage and a 1,700-square-foot home last year. She works as an administrator and now rents a three-bedroom townhouse.) [+ a! @$ c& k! C' N: p
4 u% ]6 {9 E, o( fBack 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.4 H P6 `+ P5 }1 M: s: L& p7 G
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So Daly has been checking out townhouses, but even that has been difficult for her.
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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."' ?0 k3 b8 K) W! Y0 r& G/ q
* N, A* H3 M- J M* e! ^& D3 aTime has not been her friend. Every month the prices of homes in Edmonton climb higher., U7 C: y+ D' {3 p* I5 C! U ~5 S' o
8 P* ~2 o7 O7 {- j# [/ wAn 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 $175,922.8 t+ ?5 f" H B) F% Z
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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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. v' p: C7 H* ~; a) T- x9 p"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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