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记者的观察
The realities of real estate
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" B" r8 n0 I F/ O ~Published: Friday, October 06, 2006
. L0 _3 e6 }7 r6 p* FEDMONTON - With her toolbox in hand and overalls on, newcomer Lisa Laas feels she can conquer the plumbing world in Edmonton.* l* b: \+ B4 L# _0 ]
$ b- N! b- h, [5 Z- C! fThe 29-year-old plumber from Vancouver had no problem finding work in Edmonton with trades people high in demand in Alberta.+ z5 i! [( k5 E. P; a1 m% Y- p
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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.+ w D0 A- d3 { Q5 B
5 Q; t6 x) _' P3 ]$ PBut 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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* h7 C4 Z7 \* l% t' x"It absolutely scared me," she says. "I moved here for a house, and all of a sudden a townhouse went from $105,000 to $155,000 and I'm going, 'Oh my gosh. I have to buy really quick.' I've seen it in Vancouver and now I'm starting to see it here and it's frustrating."3 E1 @2 y7 ]) Z
1 N$ F, Z$ f' N8 pLaas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.
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But she has lost out on four places since beginning her search for a house.1 r; P8 e+ f' J- A9 S, a1 w
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She's been outbidded, "out-offered" and "outconditioned."! t0 g2 ?: O% ?+ S
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One house, the one she really wanted in the northwest neighbourhood of Calder, went on the market at 4 p.m. and had multiple offers by 6 p.m. so Laas walked away. In two other instances, other buyers had fewer conditions on their bid to purchase a townhouse, so her offer was dismissed.
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4 |3 S3 _( S8 s/ V3 fLaas says she was in tears because of the experience. She has given up working with a real estate agent to look for a home. She says she's backed off the whole thing, but she keeps her eye open every now and then.' E5 v; m+ b/ }% K' b/ k
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Forty-five-year-old Cheryl Daly is also having a tough time finding an affordable home for her 12-year-old son and a 16-year-old daughter.
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She left a 23-marriage and a 1,700-square-foot home last year. She works as an administrator and now rents a three-bedroom townhouse.& y d; B! N$ X3 e% F
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Back in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.
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So Daly has been checking out townhouses, but even that has been difficult for her." e( Q( n4 M3 m
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"The places, when they come up, if they're at a decent price, they're gone really quickly," she says, "so it's a matter of timing."3 N+ \% a7 z0 o$ e/ i# \
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Time has not been her friend. Every month the prices of homes in Edmonton climb higher.
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1 u5 e2 \( G$ m5 M# c2 B9 uAn 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.! x9 P/ p4 G( V' d1 \
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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.: q9 q V5 K5 u5 e: U
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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."; c k% a. N) m. G: B j9 f* Q
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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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