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记者的观察
The realities of real estate* i) \& U# X& r3 ]8 x; Z" j
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Published: Friday, October 06, 2006
% P" h0 d$ ]% ^" X, g0 gEDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton." s& | |8 v( O( z$ k* U2 ?9 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.0 u5 h- V) d! q& L4 K# t& I
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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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"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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Laas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.( ?9 A J# r) C. U+ W1 j
# ?' c+ C* ?& @2 V+ X5 @8 m5 |8 vBut she has lost out on four places since beginning her search for a house.: r4 c& D3 h e1 k; [; j
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She's been outbidded, "out-offered" and "outconditioned."
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5 ]3 I1 f( M5 l( B$ Z0 yOne 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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4 ~7 o8 O, V6 ~ P$ b6 T/ S& a6 w' o" vLaas 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.3 }# H$ Z4 ]& T
1 b- L: P! E2 Y/ ~4 }* CForty-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.: ^: x6 Z" X3 g0 I. X0 f3 y
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Back in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says. R$ l( \: b5 H: Z
2 e8 |! a% A( |3 l7 ?; \/ \0 eSo Daly has been checking out townhouses, but even that has been difficult for her.% M: v( `3 S/ z5 C1 R
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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."( i( [! t; n/ [- o, Q
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Time has not been her friend. Every month the prices of homes in Edmonton climb higher. y: } N2 @* v
/ H+ j$ S) a+ kAn 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 $175,922. N# C# w2 Y4 L
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The president of the Edmonton Real Estate Board, Madeline Sarafinchan, says the hot market is tough for first-time homeowners and single people.
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( J* X4 v# r# _. d# @' L. l6 o"It's definitely making people think about what their options are," Sarafinchan says. "They're having to look at things that maybe are not as what they would have termed as desirable.") j% y; @$ T" Y9 @7 o
- `$ ^; p( J3 M, uThat 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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