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记者的观察
The realities of real estate
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Published: Friday, October 06, 2006
3 j' Z' h7 c8 z( q, Y: [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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& x1 I e: W2 O, f% ^6 z3 r& P' j- ^4 bThe 29-year-old plumber from Vancouver had no problem finding work in Edmonton with trades people high in demand in Alberta.% r0 }2 t1 a3 x0 ]+ ^8 B
" p. m' u6 c# f/ S( J7 `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.1 @) I( H1 {* k! B: s, g
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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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3 B6 _# S' A' H"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."2 _3 y0 s8 t! a& x X/ W
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Laas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.( N0 ?4 ?. q5 |0 [2 g! d, ~
7 j* K8 g) u0 [& G z* ZBut she has lost out on four places since beginning her search for a house.
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She's been outbidded, "out-offered" and "outconditioned."1 n! O0 U$ t. t, E4 F0 t
8 d/ ~1 m. Q! I* aOne 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.7 Y0 j5 y) z8 a. d3 C4 d
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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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' q( \, x( f# D/ h( d6 B3 G% eShe 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.: L3 q' r" g- ~: d% l9 M4 H2 P+ {
" m+ U# h; c' d4 @5 {% {% G' QBack 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.; ?8 y3 \, i: d; G; Z/ m
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So Daly has been checking out townhouses, but even that has been difficult for her.+ @7 C( [0 z( K" J% J4 |
$ v9 U% R+ M( Z0 y- u% m' H"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."5 u; s( ~5 t" f" E5 Z6 ^1 {. D
7 x% K4 h7 q* X% ^+ eTime has not been her friend. Every month the prices of homes in Edmonton climb higher.
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/ b1 z" J3 H) J1 S2 l% j! V1 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 G; s# n8 r2 m ~ ^
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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.' K3 u: ?( T5 b y% F3 z" b; r
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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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1 Q' f* f w' S# e4 ]& \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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