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记者的观察
The realities of real estate. H9 d3 b* w3 v& G) a4 d
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Published: Friday, October 06, 2006 / _9 Q L7 y# ^- J% |4 n
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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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.
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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.
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! \. x' Q1 s' ~) e"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."& T8 u7 K1 I- b: i! H
) V4 a; r, x! u N% c/ ^3 ~, R" sLaas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.
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But she has lost out on four places since beginning her search for a house.# }! A2 Q' a8 Z. l$ t: E
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She's been outbidded, "out-offered" and "outconditioned."3 c: j. E9 T' f; \; ], ~
3 g% d- F( l( w" U; i$ q% EOne 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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: E6 k& H: H0 C( K cLaas 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.! o/ Z& S6 O' G, h
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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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3 [, B, U* ^; w/ XShe 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.. b7 N1 q' w7 w! L% G$ v1 \
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Back in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.
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! L! |) `& ?; a" _' K$ I, T5 ]- |So Daly has been checking out townhouses, but even that has been difficult for her.% o# W: K( p; ]( y
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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."
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+ v/ O | x% E k& ?" GTime has not been her friend. Every month the prices of homes in Edmonton climb higher.
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3 [* @9 ?' H, FAn 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 $175,922.4 z7 {$ m5 A; `! A
3 y5 ]- t$ Z( U4 A+ H) iThe president of the Edmonton Real Estate Board, Madeline Sarafinchan, says the hot market is tough for first-time homeowners and single people.8 i0 T: ~+ A1 |* o8 ]8 j
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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."
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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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