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About Amar – Calgary Realtor

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Courtesy Of
Paul Daggett Of RE/MAX REALTY PROFESSIONALS

$319,900 - 1368 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Row House

MLS® #C4287714

Looking for a great location with curb appeal? This fabulous 2 storey townhome has a covered front veranda and is an end unit. This townhome was a showhome and has 3 bedrooms and 2.5 bathrooms. The open-plan concept flows from the front living room with a warm gas fireplace to your luxurious kitchen/dining area boasting rich hardwood floors that compliment…
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Courtesy Of
Scot Rose Of RE/MAX HOUSE OF REAL ESTATE

$1,199,000 - 3513 Sq.Ft

Beds
7
Baths
5.00

ACTIVE

Detached

MLS® #C4287705

Aspen Woods - Excellent location w/ west backyard onto a ravine & great Mountain views! Well appointed family home boasting almost 5000 sq ft of development w/ 7 bedrooms & 5 full bathrooms. Gourmet Kitchen w/ upgraded Stainless appliances, oversized Gas Grill, built-in Ovens, dark Cabinetry, Quartz countertops, large Island looking onto dining & living areas. Eye catching stone feature…
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Courtesy Of
Joseph G Buggie Of ROYAL LEPAGE BENCHMARK

$379,000 - 1125 Sq.Ft

Beds
3
Baths
1.00

ACTIVE

Detached

MLS® #C4287537

OPEN HOUSE SAT + SUNDAY 2 -4 PM Orginal Owner, Nuwest well cared for home in a quiet location, 3 bedrooms, updated 4pc bath, gleaming hardwood, Updated kitchen, vaulted ceilings in living room w/ gas fireplace, open to dining area, sil granite sink in kitchen w/oak cupboards, ( Windows replaced 12 years ago, Roof approx 8 years.) Lower level partially…
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Courtesy Of
Laura Schewchenko Of RE/MAX REAL ESTATE (CENTRAL)

$438,888 - 1540 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4287727

Seller has Spent $60,000 UPGRADING this FABULOUS Home! LAKE COMMUNITY LIVING! MECHANICS DREAM NEW OVERSIZED, HEATED Double Garage with Plenty of storage 220V Power, Welcome to your Like NEW Beautiful, BRIGHT and MODERN Home on an OVERSIZED TREED FENCED PIE SHAPED CORNER LOT in Family Friendly Mahogany.The Sunny SOUTH Facing Kitchen with Windows that Span the Entire Back of kitchen…
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Courtesy Of
Jon M Dick Of RE/MAX REAL ESTATE (CENTRAL)

$1,449,900 - 2811 Sq.Ft

Beds
5
Baths
4.10

ACTIVE

Detached

MLS® #C4287710

Outstanding value on this well-kept and tastefully upgraded 2800 sq' bungalow nestled in the trees on an extremely private 2-acre lot in Elbow Valley Estates! Enjoy this first-class renovation with a first-class kitchen featuring vaulted ceilings, 42"cabinets, Wolf gas stove, two Bosch dishwashers, massive island, and custom built-ins. Wall-to-wall hand scraped hardwood floors, a full height stone wood-burning fireplace, floor-to-ceiling…
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Courtesy Of
Don Payne Of RE/MAX REAL ESTATE (MOUNTAIN VIEW)

$234,900 - 766 Sq.Ft

Beds
2
Baths
1.00

ACTIVE

Row House

MLS® #C4287730

Open House Saturday, February 21 2:00-4:00 pm. A rare opportunity on this main floor unit with a full, unfinished basement offering over 1500 square feet of total living space. This property has many upgrades and has been meticulously maintained. Featuring quartz counter tops, stainless steel appliances, vinyl plank flooring, high efficiency furnace and hot water on demand with the tankless…
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Courtesy Of
Afaf Jomaa Of RE/MAX FIRST

$895,000 - 2471 Sq.Ft

Beds
6
Baths
3.10

ACTIVE

Detached

MLS® #C4287729

OPEN HOUSE THIS SATURDAY, Feb 22nd & SUNDAY Feb 23rd 2-4 pm. WELCOME HOME to this 4+2 BEDROOM HOME on a CUL-DE-SAC with a SOUTH BACK YARD w/WALKOUT BASEMENT & MOUNTAIN VIEWS! ORIGINALLY BUILT FOR THE BUILDER NO EXPENSE WAS SPARED WITH PLENTY OF BUILT-INS, SOLID SHELVING IN CLOSETS & HUNTER DOUGLAS BLINDS. AMAZING OPEN FLOOR PLAN w/ HARDWOOD THROUGHOUT…
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Courtesy Of
Imtiaz Ahmed Of URBAN-REALTY.ca

$69,900 - 1000 Sq.Ft

Beds
0
Baths
0.00

ACTIVE

Retail

MLS® #C4287718

Clean and Busy Restaurant in a High traffic location in the Industrial area of Highfield. Monday to Friday Operation makes it a perfect family business. Seats 30 people, but can be expanded to add 20-30 more seating. Equipment Includes Walk-in Fridge, Stove, Flat grill, Fryer, Slicer, Dishwasher, commercial toaster, all table and chairs. The Lease includes heating, electricity, and operating…
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Courtesy Of
Sarah Loney Of CENTURY 21 ELEVATE REAL ESTATE

$204,900 - 1031 Sq.Ft

Beds
2
Baths
2.00

ACTIVE

Lowrise Apartment

MLS® #C4266545

Fantastic unit in Chaparral Village! Entire unit freshly painted a gorgeous neutral light grey! Fixtures. lighting and hardware all updated (as seen in labelled photos). This 2 bed 2 bath unit only shares one wall and has no neighbours underneath! The pass through kitchen features clean white cabinetry with neutral countertops and tile. The extra large living area has been…
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Courtesy Of
Aniket Sharma Of ESTATEVIEW

$374,999 - 1466 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4287757

Welcome to this meticulously cared for 2-storey move-in ready home located in well managed community of Bayside with in few minutes drive to a wide range of amenities including school, shopping, groceries and pharmacy. Step inside the foyer and you will admire the well laid out floor plan that makes perfect use of each and every space.Mud room is tcuked…
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Courtesy Of
Don Kamps Of MAXWELL SOUTH STAR REALTY

$425,000 - 1681 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4287750

Exceptional Value! Quality built NEW CASTLE 3 by Kingsmith Homes. The main floor features open concept plan with large windows that capture vistas of parkland and Cochrane townsite. The contemporary kitchen has a stainless steel appliance package, corner pantry and centre breakfast bar island. Dining nook provides convenient garden door access to private deck and fully landscaped and fenced backyard.…
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Courtesy Of
Amy Long Of RE/MAX REAL ESTATE (CENTRAL)

$180,000 - 325 Sq.Ft

Beds
0
Baths
0.00

ACTIVE

Retail

MLS® #C4287745

EXCELLENT LOCATION BUSY STREET AT THE HEART OF CHINATOWN RETAIL SPACE.
Active

Courtesy Of
Zhaoyan Ren Of GRAND REALTY

$519,000 - 1882 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4287868

Beautiful fully finished 2 storey home located in the highly desirable community of Arbour Lake. This south facing home offers full day sunshine and upgraded with Air conditioner and hardwood floor on the main and second floor. This single family home is newly upgraded with 3 large bedrooms, a decent size bonus room, and fully developed basement. Not only all…
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Courtesy Of
Shawn Getty Of EXP REALTY

$1,288,800 - 2991 Sq.Ft

Beds
6
Baths
4.10

ACTIVE

Detached

MLS® #C4287746

Exquisite estate home on a huge lot with private setting, beautiful unobstructed views and mother nature just out your back door. True open concept living at its finest with waves of natural light flooding every room all day long. One of Valley Ridge's most esteemed streets, this home is sure to impress. With every upgrade you would expect in this…
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Courtesy Of
Matthew Callbeck Of ROYAL LEPAGE ALLSTAR REAL ESTATE

$639,000 - 2113 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4286888

Incredible modern home with triple front attached garage & walkout basement backing onto a ravine with stunning 180-degree views in family-centric Sunset Ridge! This 3 bed, 2.5 bath home has a walkout basement & pride of ownership shines throughout You will love the main floors natural light with sky-high ceilings, new floors, a stunning kitchen with full height cabinetry, walk-in…


10313 others, view more

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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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