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About Amar – Calgary Realtor

Fluent in: English, Tagalog, Punjabi, Hindi, Urdu

My commitment as your local REALTOR® is to provide you with the specialized real estate service you deserve. Whether buying or selling, I invite you to contact me with any questions that you may have. My promise to you is that your experience will be both stress-free and enjoyable.

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Courtesy Of
Ajay Esher Kainth Of ESTATEVIEW

$287,700 - 982 Sq.Ft

Beds
3
Baths
1.00

ACTIVE

Detached

MLS® #C4287574

INCREDIBLE VALUE! MOVE IN READY! Welcome to this beautifully renovated 3 bedroom bungalow on a quiet Cul-de-sac. Upon entering, the foyer is bright and open leading to a spacious living room. Brand new laminate flooring grace the entire main floor. Freshly painted throughout. The home renovations included a new stylish kitchen W/ Granite countertops, roof, windows, and a stunning large…
Active

Courtesy Of
Jamie Newton Of RE/MAX FIRST

$479,000 - 1066 Sq.Ft

Beds
2
Baths
2.10

ACTIVE

Semi Detached

MLS® #C4286692

BRAND NEW EXCLUSIVE BUNGALOW VILLA | BY AWARD WINNING CALBRIDGE HOMES | BACKS ONTO A GREEN SPACE | Enjoy main floor living with a bright expansive open floor plan with dedicated laundry room & a master suite boasting 4-piece ensuite & spacious walk-in closet. Walk in the front door & you’ll love how the over-sized windows fill the main level…
Active

Courtesy Of
Amy Brooks Of RE/MAX HOUSE OF REAL ESTATE

$559,900 - 1294 Sq.Ft

Beds
2
Baths
2.00

ACTIVE

Lowrise Apartment

MLS® #C4286668

STYLE, QUALITY & ELEGANCE! This is a rare opportunity to acquire an executive condo with its own private terrace. From the moment you walk into this stunning 2 bedroom suite, you'll be dazzled by the high-end upgrades. An open concept kitchen boasts beautiful custom milled cabinets, extensive granite countertops with seating for casual meals & stainless steel appliances. Well proportioned…
Active

Courtesy Of
Darren Meek Of QUEST REALTY

$449,900 - 2150 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Detached

MLS® #C4286666

An outstanding 2150 sq ft, 2 STOREY, 4 BEDROOM, 4 BATHROOM home with a LOFT. Located in a QUIET CUL DE SAC- super close to the Gr 3-12 SCHOOL & ARENA on over a 1/4 ACRE LOT! The main floor boasts a Large kitchen with dark cabinetry, GRANITE COUNTERS, an ISLAND, STAINLESS STEEL APPLIANCES & WALK IN PANTRY. OPEN CONCEPT…
Active

Courtesy Of
Jeff Neustaedter Of RE/MAX FIRST

$1,499,900 - 2445 Sq.Ft

Beds
4
Baths
3.00

ACTIVE

Detached

MLS® #C4287589

Stunning, fully renovated bungalow with “top of the world” mountain views! One of the most premium mountain view lots in Calgary! Nearly 2500sq ft main that was built perfectly for the huge SW sloping lot. This former show home is loaded with premium finishings and extra details. A total of 4 bedrooms & 3 full bathrooms, a wine room &…
Active

Courtesy Of
Jeff Neustaedter Of RE/MAX FIRST

$499,900 - 1654 Sq.Ft

Beds
3
Baths
3.10

ACTIVE

Detached

MLS® #C4287588

GORGEOUS fully finished 2 storey home on an ideal corner lot in the desirable community of Tuscany! INCREDIBLE LOCATION on a quiet cul-de-sac with great neighbors, quick access out of Tuscany and no sidewalk to shovel! Amazing private southeast backyard with abundant year-round sun! This bright, open and welcoming home has been extensively updated & extremely well maintained: kitchen cabinets,…
Active

Courtesy Of
Jeff Neustaedter Of RE/MAX FIRST

$1,700,000 - 3211 Sq.Ft

Beds
4
Baths
4.10

ACTIVE

Detached

MLS® #C4287587

Fully finished executive home in the prestigious community of Watermark in Bearspaw! Custom built modified bungalow by Albi Homes. Stunning attention to detail and amazing upgrades throughout this home. Extremely well thought out floor plan that flows from room to room. Bright & open! 4 car attached garage with tandem parking, stone & stucco exterior, hardwood floors throughout main level,…
Active

Courtesy Of
David Weber Of 2% REALTY

$399,500 - 1296 Sq.Ft

Beds
4
Baths
1.10

ACTIVE

Detached

MLS® #C4287409

Welcome home to this exceptional, well-kept & updated FF 4 bed & 2 bath home located in the very desirable community of Country Hills. This 2 storey home features more than 1800 sq/ft of developed living space. The main floor features the eating area & family room w/brand new laminate floors, 2 piece bath adjacent to the back entry door…
Active

Courtesy Of
Khalil Ebrahim Of PROPERLY HOMES INC.

$449,000 - 1746 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Detached

MLS® #C4287656

Welcome to 107 Chapman Circle SE - This quintessential family property features 4 bedrooms (3 up, 1 down), 3.5 baths, and a double attached garage. Prime location on a quiet circle. The main floor features a traditional layout with a spacious family room, open kitchen with corner pantry and large breakfast nook. The 2 piece bath and laundry complete this…
Active

Courtesy Of
Kevin Leung Of CIR REALTY

$599,000 - 1240 Sq.Ft

Beds
3
Baths
3.00

ACTIVE

Detached

MLS® #C4287624

WELCOME TO 2204 38 St SW. This BUNGALOW has ideally located across from green space, minutes to all amenities and downtown. Extremely well maintained home with two bedrooms. The master bedroom offers a ensuite bathroom and built-ins in the closets. Living room and dining room is inviting and has lots of space to entertain. The basement has a separate entrance…
Active

Courtesy Of
Bryon R Howard Of RE/MAX HOUSE OF REAL ESTATE

$275,000 - 981 Sq.Ft

Beds
5
Baths
2.00

ACTIVE

Detached

MLS® #C4287620

Handyman and Investor Special! LOCATION LOCATION LOCATION (right off International Avenue) - if you have a long term vision! Building Permit in place to create legal suite. This bungalow has 3 bedrooms up with a separate entrance leading to an illegal non-conforming 2 bedroom suite. Lots of potential with an open kitchen and living room layout. There is a large…
Active

Courtesy Of
Matthew Antrum Of CIR REALTY

$365,000 - 1280 Sq.Ft

Beds
2
Baths
2.10

ACTIVE

Lowrise Apartment

MLS® #C4287609

ABSOLUTELY SPECTACULAR 40+ TOP FLOOR LOFT CONDO WITH WEST EXPOSURE, & UNOBSTRUCTED VIEWS OF THE PARK & POND. This beautiful one of a kind, bright and sunny air conditioned loft condo has 20 ft vaulted ceilings, gorgeous kitchen with brand NEW SS appliances, corner pantry & ample cupboard & counter space. 2 large bedrooms & 2.5 baths. The master bedroom…
Active

Courtesy Of
Sam Olschewski Of RE/MAX FIRST

$719,000 - 1119 Sq.Ft

Beds
4
Baths
3.00

ACTIVE

Detached

MLS® #C4287662

Incredible location and large pie shaped lot situated in the sought after community of Wildwood. This beautifully updated bungalow offers 2081 SF of developed living space with an oversized double car garage and recent updates to include windows in 2014, hot water tank, gutters, underground sprinkler system, kitchen appliances, light fixtures, railing and basement carpet. The bight and open main…
Active

Courtesy Of
James Schaeffler Of RE/MAX FIRST

$550,000 - 1002 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Semi Detached

MLS® #C4287650

EXECUTIVE LAKE SIDE LIVING AT ITS FINEST! UNOBSTRUCTIVE VIEWS OF THE MAIN BEACH, situated within MAHOGANY COVE ESTATES & located ACROSS THE STREET from the 13 acre CENTRAL PARK & walking distance to MAHOGANY VILLAGE & MAIN BEACH ACCESS. Fully developed bungalow features 10' MAIN FLOOR CEILINGS, 8' INTERIOR DOORS & an open design lifestyle room w/ focal GAS F/P.…
Active

Courtesy Of
Jeff Neustaedter Of RE/MAX FIRST

$524,900 - 2050 Sq.Ft

Beds
3
Baths
3.10

ACTIVE

Detached

MLS® #C4287686

Bright and open home, perfect for a family in the wonderful community of Tuscany on a great street with mountain views! Close to schools & shopping complex! Great orientation from the large sunny south backyard & a great sized deck to sit out and enjoy! Main floor features a gourmet kitchen with a center island, stainless steel appliances, great sized…


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Changes to the mortgage stress test

Changes to the mortgage stress test

Ottawa, ON, February 18, 2020 – Earlier today, Minister of Finance Bill Morneau announced changes to the mortgage stress test.

The new benchmark rate used to determine the minimum qualifying rate for insured mortgages, coming into effect on April 6, 2020, will be the weekly median 5-year fixed insured mortgage rate from mortgage insurance applications, plus 2 per cent.

Recently, the gap between the Bank of Canada’s five-year benchmark rate and borrowers’ actual contract rates has been widening, suggesting the benchmark rate has become less responsive to changes in the market.

In October 2016, Finance Canada introduced a stress test for insured mortgages. In 2017, the Office of the Superintendent of Financial Institutions (OSFI) issued an update to Guideline B-20, requiring uninsured mortgages to be stress-tested as of January 2018. CREA data indicates that per capita sales activity for residential units in 2018 reached its lowest point since 2001, with 2019’s final sales total tied for second-worst.

“REALTORS® have advocated for changes to the stress test on behalf of potential homeowners who have been sidelined, borrowers who have moved away from the regulated market to less-regulated options, and real estate markets across the country in need of relief,” said Jason Stephen, President of The Canadian Real Estate Association. “We are pleased the government has taken steps to address some of these issues in Canadian housing markets.”

In response to the impacts of the stress test, CREA has recommended:

  • reviewing the mortgage stress test to ensure the realities of local real estate markets are taken into consideration; and
  • allowing existing mortgage holders to be exempted from the stress test at the time of renewal.

CREA welcomes today’s announcement and acknowledges government’s efforts to help Canadians achieve their housing needs through policy reflective of market conditions.

CREA CEO Michael Bourque said “Today’s announcement introduces a more dynamic measure to act as a minimum qualifying rate. The Bank of Canada’s weekly median 5-year fixed insured mortgage rate plus 200 basis points will be more responsive.”

CREA will be providing input as OSFI considers the same benchmark rate for uninsured mortgages and will continue advocating for policy solutions that make it easier for Canadians to find a home that is right for them.

For more information, please contact:
Pierre Leduc, 
Media Relations
pleduc@crea.ca
The Canadian Real Estate Association
200 Catherine Street, 6th Floor    Ottawa, ON K2P 2K9
Tel: +1 (613) 237-7111

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Canadian home sales down in January

Canadian home sales down in January

Ottawa, ON, February 14, 2020 – Statistics released today by the Canadian Real Estate Association (CREA) show national home sales declined between December 2019 and January 2020.

Highlights:

  • National home sales fell by 2.9% on a month-over-month (m-o-m) basis in January.
  • Actual (not seasonally adjusted) activity was up 11.5% year-over-year (y-o-y).
  • The number of newly listed properties was little changed (+0.2%) m-o-m.
  • The MLS® Home Price Index (HPI) advanced by 0.8% m-o-m and 4.7% y-o-y.
  • The actual (not seasonally adjusted) national average sale price climbed 11.2% y-o-y.

Home sales recorded over Canadian MLS® Systems declined by 2.9% in January 2020, although they remain among the stronger monthly readings of the last few years. (Chart A)

Transactions were down in a little over half of all local markets in January, with the national result most impacted by a slowdown of more than 18% in the Lower Mainland of British Columbia. While there were few notable gains in January, it should be noted that many of the weaker results have come alongside a shortage of new supply in markets where inventories are already very tight.

Actual (not seasonally adjusted) sales activity was still up 11.5% compared to January 2019, marking the best sales figures for the month in 12 years. Transactions surpassed year-ago levels in about two-thirds of all local markets, including most of the largest urban markets. As mentioned, some of the larger markets where sales were down, such as Ottawa and Windsor-Essex, are currently among some of the tightest supplied markets in Canada.

“Home price growth continues to pick up in housing markets where listings are in short supply, particularly in Southern, Central and Eastern Ontario,” said Jason Stephen, president of CREA. “Meanwhile, ample supply across the Prairies and in Newfoundland and Labrador is resulting in ongoing competition among sellers. All real estate is local, and nobody knows that better than a professional REALTOR®, your best source for information and guidance when negotiating the sale or purchase of a home,” said Stephen.

“Looking at local market trends across the country, one thing that stands out in markets with historically tight supply is a larger than normal drop in new listings at this time of the year,” said Shaun Cathcart, CREA’s Senior Economist. “The logic being that if you are a seller, you’re not just choosing when to list but effectively when to sell, so why not hold off until the spring when the weather is better, and more buyers are looking? Deferred listings mean deferred sales, which could explain some of January’s decline in activity. The question going forward is how many sellers are out there waiting to list their property, how much demand will respond, and how that will impact prices later this year.”

The number of newly listed homes was little changed in January, edging up a slight 0.2% on the heels of a series of declines which have left new listings at a near decade low. January’s small m-o-m change came as the result of declines in a number of larger markets, including Calgary, Edmonton and Montreal, which were offset by gains in the York and Durham Regions of the Greater Toronto Area (GTA) where new supply bounced back at the start of 2020 following a sharp slowdown towards the end of last year.

With sales down and new listings up slightly in January, the national sales-to-new listings ratio fell back to 65.1% compared to 67.2% posted in December 2019. Even so, the long-term average for this measure of housing market balance is 53.8%. It has been significantly above that long-term average for the last four months. Barring an unforeseen change in recent trends between the balance of supply and demand for homes, price gains appear poised to accelerate in 2020.

Considering the degree and duration to which market balance readings are above or below their long-term averages is the best way of gauging whether local housing market conditions favour buyers or sellers. Market balance measures that are within one standard deviation of their long-term average are generally consistent with balanced market conditions.

Based on a comparison of the sales-to-new listings ratio with the long-term average, close to two-thirds of all local markets were in balanced market territory in January 2020. Apart from a few areas of Alberta and Saskatchewan, the remainder were all favouring sellers.

The number of months of inventory is another important measure of the balance between sales and the supply of listings. It represents how long it would take to liquidate current inventories at the current rate of sales activity.

There were 4.2 months of inventory on a national basis at the end of January 2020 – the same as in November and December and the lowest level since the summer of 2007. This measure of market balance is now a full month below its long-term average of 5.2 months. While still just within balanced market territory, its current reading suggests that sales negotiations are becoming increasingly tilted in favour of sellers.

National measures of market balance continue to mask significant and increasing regional variations. The number of months of inventory has swollen far beyond long-term averages in the Prairie provinces

and Newfoundland & Labrador, giving homebuyers ample choice in these regions. By contrast, the measure is running well below long-term averages in Ontario, Quebec and the Maritime provinces, resulting in increased competition among buyers for listings and providing fertile ground for price gains. The measure is still in balanced market territory in British Columbia.

The Aggregate Composite MLS® Home Price Index (MLS® HPI) rose 0.8% in January 2020 compared to December, marking its eighth consecutive monthly gain. It is now up 5.5% from last year’s lowest point in May and has set new records in each of the past six months. (Chart B)

The MLS® HPI in January was up from the previous month in 14 of the 18 markets tracked by the index. (Table 1)

Home price trends have generally been stabilizing in most Prairie markets in recent months following lengthy declines. Meanwhile, prices are clearly on the rise again in British Columbia and in Ontario’s Greater Golden Horseshoe (GGH). Further east, price growth in Ottawa, Montreal and Moncton continues as it has for some time now, with Montreal and particularly Ottawa having strengthened noticeably in recent months.

Comparing home prices to year-ago levels yields considerable variations across the country, although for the most part trends are still regionally split along east/west lines, with rising gains from Ontario east, and a mixed bag of smaller gains and declines in B.C. and the Prairies.

The actual (not seasonally adjusted) Aggregate Composite MLS® (HPI) rose 4.7% y-o-y in January, the biggest year-over-year gain since February 2018.

Home prices in Greater Vancouver (-1.2%) remain slightly below year-ago levels, but declines are still shrinking. Meanwhile, January saw prices back in positive y-o-y territory in the Fraser Valley (+0.3%). Elsewhere in British Columbia, home prices logged y-o-y increases in the Okanagan Valley (+3.5%), Victoria (+3.4%) and elsewhere on Vancouver Island (+4%).

Calgary, Edmonton and Saskatoon continued to post small y-o-y price declines, while the y-o-y gap has now widened to -6.9% in Regina.

In Ontario, home price growth has re-accelerated across most of the GGH, with a number of markets getting close to double digits. Meanwhile, price gains in recent years have continued uninterrupted in Ottawa (+13.7%), Montreal (+9.8%) and Moncton (+6.4%).

All benchmark home categories tracked by the index accelerated further into positive territory on a y-o-y basis, with similar sized gains among the different property types.

Apartment unit prices posted the biggest y-o-y increase (+5%) followed closely by two-storey single family homes (+4.8%), one-storey single-family homes (+4.4%) and townhouse/row units (+4.2%).

The MLS® HPI provides the best way to gauge price trends, because averages are strongly distorted by changes in the mix of sales activity from one month to the next.

The actual (not seasonally adjusted) national average price for homes sold in January 2020 was around $504,350, up 11.2% from the same month the previous year. This was the largest increase since mid-2016.

The national average price is heavily influenced by sales in the GVA and GTA, two of Canada’s most active and expensive housing markets. Excluding these two markets from calculations cuts close to $110,000 from the national average price, trimming it to around $395,000.

– 30 –

PLEASE NOTE: The information contained in this news release combines both major market and national sales information from MLS® Systems from the previous month.

CREA cautions that average price information can be useful in establishing trends over time, but does not indicate actual prices in centres comprised of widely divergent neighbourhoods or account for price differential between geographic areas. Statistical information contained in this report includes all housing types.

MLS® Systems are co-operative marketing systems used only by Canada’s real estate Boards to ensure maximum exposure of properties listed for sale.

The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry associations, representing more than 130,000 REALTORS® working through 90 real estate boards and associations.

Further information can be found at http://crea.ca/statistics.

For more information, please contact:
Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460
E-mail: pleduc@crea.ca

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CREA’s Chief Economist, Gregory Klump, retires after 28 years

CREA’s Chief Economist, Gregory Klump, retires after 28 years

Ottawa, ON, February 11, 2020 –  Gregory Klump, CREA’s Chief Economist, has retired from The Canadian Real Estate Association after 28 years.

Greg Klump

Klump joined CREA in 1992, serving as staff economist for the Association. Promoted to Chief Economist in 2005, he grew CREA’s economic and data team into an authoritative source of Canadian real estate data and market analysis.

Klump was instrumental in the development of the MLS® Home Price Index (MLS HPI®). He was a member of CMHC’s National Housing Research Committee as well as a contributor to the Economic Research Committee of the Canadian Home Builders Association.

CREA wishes Gregory Klump all the best in his future endeavors.

– 30 –

About The Canadian Real Estate Association
The Canadian Real Estate Association (CREA) is one of Canada’s largest single-industry associations. CREA works on behalf of more than 130,000 REALTORS® who contribute to the economic and social well-being of communities across Canada. Together they advocate for property owners, buyers and sellers.

For more information, please contact:
Pierre Leduc, Media Relations
The Canadian Real Estate Association
Tel.: 613-237-7111 or 613-884-1460
E-mail: pleduc@crea.ca­

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