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记者的观察
The realities of real estate
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. v) Z. K, ^3 J- n% g' U3 [ ~Published: Friday, October 06, 2006 ' l% ~' O. f' y( n: ~' v. J
EDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.. Y9 v! M t i; ?
4 ~- i# W4 g0 f) RThe 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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9 U3 V! [+ |: }. N2 N) ^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 $160,000, but soon realized she had to change her plans. A townhouse would have to do.- y& k+ T: e* q3 I
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But she has lost out on four places since beginning her search for a house.4 z p3 p3 h: m! c) U, h, W$ N
8 K5 ?8 Y, m' L& L% f; h$ D+ v. SShe's been outbidded, "out-offered" and "outconditioned."
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1 q* Z6 A* \+ q: Q# _& S) @# @3 ~8 Q7 U, ?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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3 U0 f* L$ G) ~3 n2 W0 ?% ELaas 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.+ |6 V8 d9 K0 r0 Y' o
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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.# k9 p4 N+ c% h
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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.: Z8 s7 }) s8 }1 |8 h2 M' F
$ c" d* c8 F" L/ u0 \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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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."* q8 n5 r" K0 l
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Time has not been her friend. Every month the prices of homes in Edmonton climb higher.
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An 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./ T6 O. ^% R) k# y! S# B
2 k0 \2 G6 j4 \% D1 r, U/ k" XThe 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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"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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