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记者的观察
The realities of real estate# i& U5 z; a5 v# Q; E6 r
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Published: Friday, October 06, 2006 % M) g' x" M( |# @* f
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.
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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.- ?8 ]+ l9 {7 x! b2 P, r1 h
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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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"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."% b5 h. \5 `3 r q0 m
9 a6 ^% ?0 J9 w: }5 H; g& G7 OLaas started looking in February. She had hoped to buy a house for $160,000, but soon realized she had to change her plans. A townhouse would have to do.
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1 e, X% P% D0 X+ D- X; \But she has lost out on four places since beginning her search for a house.
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' h5 _* U% m7 F' Z* h$ fShe'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.
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+ Y# b# |3 q; x' w+ I1 T" R) YLaas 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.! h- c6 h7 \4 c9 C) r: S
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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.6 A4 U+ Z m- p
, s- p( I& v4 ^, f0 v; |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. L7 T/ d* g, e7 K
b" S, v) c9 W7 uBack in April, she started looking for a home, something in the $170,000 range. "I would like to have a half duplex even, but with the prices and with my status, I know that's not realistic," she says.3 ~+ J6 n; p. n4 |
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So Daly has been checking out townhouses, but even that has been difficult for her.
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"The places, when they come up, if they're at a decent price, they're gone really quickly," she says, "so it's a matter of timing.": @; N/ }- Q5 b/ J0 `$ P
' i' l" R) D- Q4 V8 ?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.& ]2 E: f' E* z6 x9 m5 R
) d: y! G& R8 G% M- OThe 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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, d1 L) H* j4 l8 W9 y" d! v0 \1 W"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."+ ^! }/ R' w; r( O9 A6 ~* e' J5 ^
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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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