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记者的观察
The realities of real estate
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Published: Friday, October 06, 2006
4 z. B& H- e% X6 J: D; q' [5 k, bEDMONTON - 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.' j2 Z4 x; C z6 n
0 N0 z, \% K O! ^& @% V5 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.8 w# s* ?) \; t
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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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$ D f6 M4 `& w/ _) j/ ^$ a/ M* O"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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0 _ ~6 w R' Q- ~, ?3 zLaas 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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& g3 Q% v/ E; r( V" h0 ^# sBut 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."# C: p7 ?" X% p, X
8 |8 w, u! k5 n# a# G2 TOne 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.* I- [8 \2 v% I0 U1 S2 C
1 r, |: l( K: I2 ?; R- dForty-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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. _9 n8 @& p) z G0 VShe 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 $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.
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* c! i8 J8 f8 u- sSo Daly has been checking out townhouses, but even that has been difficult for her.- A8 i- |6 J- w" ?. Z- U0 D9 r% m6 X
9 r- H; P! d6 f e0 n+ H1 Q* x: W"The places, when they come up, if they're at a decent price, they're gone really quickly," she says, "so it's a matter of timing."
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2 X) B4 g& S4 n* A1 s" Q% F h% n: e" O* qTime has not been her friend. Every month the prices of homes in Edmonton climb higher.
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% W$ U r/ ~ @# r0 X1 m. ZAn 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 $175,922.9 c( K" z! T9 J8 }+ O, Y- [
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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., r! o8 q# Y g5 b7 i0 m0 Q
- d' y+ w' ~0 V5 B5 ]& y"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."( s4 ]9 R) L* G' v- K- n& x2 F6 S- z9 C
3 H9 `0 q5 Q# C. m5 r# C" EThat 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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