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记者的观察
The realities of real estate
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4 |* V$ E. J9 V- \Published: Friday, October 06, 2006 3 T+ H" h+ I# k7 _# v: }" x8 {3 }
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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The 29-year-old plumber from Vancouver had no problem finding work in Edmonton with trades people high in demand in Alberta.+ {( B% v" Y0 Y: b+ \
+ D0 |7 @: B- }$ S# R' Y1 C3 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.0 t+ Y: H) L9 o' i* A, 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.9 Z% ~& j* J# B/ j; D' g: Y
6 s/ q4 ~9 M. k$ c0 ^" E"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 $160,000, but soon realized she had to change her plans. A townhouse would have to do.4 T; s3 F" Q9 K. Z8 G- k
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But she has lost out on four places since beginning her search for a house.# b9 I f( g6 ?5 l C& a" A
% w. u, D9 Z6 F4 P2 H9 r. G( L; b: qShe's been outbidded, "out-offered" and "outconditioned."
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One house, the one she really wanted in the northwest neighbourhood of Calder, went on the market at 4 p.m. and had multiple offers by 6 p.m. so Laas walked away. In two other instances, other buyers had fewer conditions on their bid to purchase a townhouse, so her offer was dismissed. b+ u( u2 h% X% _! c {
+ L( x+ {$ g1 H3 Y2 t( mLaas 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.$ T8 h- W* \. p; O, z& l) ]
+ o3 Q0 E+ k0 b1 R5 w, J7 b* k2 ~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.
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! t& H$ D; \* T) t' `7 K- zBack 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."
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Time has not been her friend. Every month the prices of homes in Edmonton climb higher.! [. ~! C& c# e, q% a4 |* `
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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 $175,922.
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The president of the Edmonton Real Estate Board, Madeline Sarafinchan, says the hot market is tough for first-time homeowners and single people.
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, o. O# ^# V) f0 ~"It's definitely making people think about what their options are," Sarafinchan says. "They're having to look at things that maybe are not as what they would have termed as desirable."$ Y7 S M( _2 f0 {
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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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