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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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All Listings - Calgary Real Estate

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Courtesy Of
Bev A Cuckow Of SELLER DIRECT REAL ESTATE

$229,900 - 1290 Sq.Ft

Beds
3
Baths
1.00

ACTIVE

Semi Detached

MLS® #C4287687

Welcome home to this exquisite townhouse in the desirable community of Acadia! This is the perfect home for a growing family & entertaining, featuring an open concept main floor layout, large bright windows and fenced yard. The updated kitchen provides plenty of countertop space, ample cupboards and a charming breakfast nook area. Moving upstairs you will find a spacious Master…
Active

Courtesy Of
Joe A Thomson Of RE/MAX REAL ESTATE (CENTRAL)

$359,888 - 985 Sq.Ft

Beds
4
Baths
1.10

ACTIVE

Detached

MLS® #C4287713

Check out this well maintained bungalow on a quiet street in Ogden. Close to all amenities with easy access to Glenmore Trail an Deerfoot Trail. The main level has 3 bedrooms, good size kitchen and large living room. Also newer laminate flooring. The fully finished lower level has a large family room with a wood burning fireplace, 2 piece bathroom…
Active

Courtesy Of
Christine Keatley Of RE/MAX LANDAN REAL ESTATE

$359,900 - 1294 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Semi Detached

MLS® #C4287788

What an incredible 3 bed, 2.5 bath home! This home has been beautifully maintained and shows pride of ownership. As you walk in, you are greeted with a tiled front entry and engineered hardwood throughout the main floor. An amazing kitchen with granite counters, tons of counter space, stainless steel appliances, under mount sink, extended island, large pantry, and a…
Active

Courtesy Of
Kevin Leung Of CIR REALTY

$204,900 - 2221 Sq.Ft

Beds
3
Baths
3.10

ACTIVE

Detached

MLS® #C4287762

Opportunity knocks, here is your chance to finish this home the way you want! The home is COMPLETELY UNFINISHED and down to the studs. This home was ORIGINALLY a 4 BEDROOMS + 3.5 BATHROOMS home. The main floor of this home has a space for private den just inside the front entrance, a large living room with a gnas Fireplace…
Active

Courtesy Of
Alexis Meinzer Of CENTURY 21 BAMBER REALTY LTD.

$774,900 - 1925 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4287787

Welcome to your stunning, contemporary, 2 storey detached home in the budding community of Highwood. Your new home is located on a beautiful street w/ gorgeous mature trees & is only 10 mins from downtown. This impeccably designed home has over 1900sq.ft of above grade living space, 3 beds, 2.5 baths, double detached garage & a 700+ sq.ft. basement that…
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Courtesy Of
Ajit A Vora Of REAL ESTATE PROFESSIONALS INC.

$108,888 - 545 Sq.Ft

Beds
1
Baths
1.00

ACTIVE

Lowrise Apartment

MLS® #C4287805

Lowest priced 1-Bedroom apartment in Bowness. Good size Bright Living room leading to a nice deck and large backyard.This Apartment is in excellent condition, Newer kitchen cabinets, Laminate floors. This apartment has nice storage and a hook up for washer and dryer inside the unit for laundry.This building has been renovated, Roof has been changed 3 years ago, Fence 2-years…
Active

Courtesy Of
Kelly A McKelvie Of ROYAL LEPAGE BENCHMARK

$544,900 - 2087 Sq.Ft

Beds
3
Baths
2.10

ACTIVE

Detached

MLS® #C4287798

Located on a quiet street and backing onto a green space/playground is this lovely 2-storey walkout home with breathtaking panoramic mountain views! An abundance of curb appeal with stone & cedar exteriors, and the pride of ownership is evident throughout the spacious, naturally bright, and open floorplan. A dedicated foyer greets you to the main level featuring the exquisite kitchen…
Active

Courtesy Of
Glenn Herring Of RE/MAX REAL ESTATE (CENTRAL)

$455,000 - 1786 Sq.Ft

Beds
4
Baths
2.10

ACTIVE

Detached

MLS® #C4287806

McKenzie Lake family home (with Lake Privileges) that is just blocks from the lake, schools, daycare, strip mall, playground, ball diamonds and outdoor rink! Excellent main floor layout with the dining room open to the living room and the kitchen open to the family room with feature fireplace and powder room bath, perfect for entertaining! Step out onto the huge…
Active

Courtesy Of
Adam Mirus Of CENTURY 21 GATEWAY REAL ESTATE LTD.

$229,900 - 864 Sq.Ft

Beds
3
Baths
2.00

ACTIVE

Detached

MLS® #C4287837

Perfect for the first home purchase! This home has a large yard with mature tree's with numerous upgrades that you won't have to pour money into renovate!! Open concept upstairs with two bedrooms, a third bedroom downstairs. Additional room for extra storage downstairs. Relax on the deck in the back yard or sit and enjoy the fire pit. Upgrades, back…
Active

Courtesy Of
Darren Metcalfe Of CENTURY 21 FOOTHILLS REAL ESTATE

$289,000 - 1350 Sq.Ft

Beds
4
Baths
3.00

ACTIVE

Detached

MLS® #C4287822

4 Bedroom Family home located on quiet street situated on massive lot with back alley access and R.V. parking. This home features an open floor plan with large kitchen and oak cabinets, kitchen leads into a spacious breakfast nook that has patio doors that opens up to a massive deck and huge backyard. Upstairs has 3 bedrooms, the master bedroom…
Active

Courtesy Of
Jovette Morin-Ferguson Of CENTURY 21 FOOTHILLS REAL ESTATE

$239,900 - 1023 Sq.Ft

Beds
3
Baths
2.00

ACTIVE

Detached

MLS® #C4287813

Great bi-level located on a BEAUTIFUL STREET on a VERY LARGE LOT with magnificent MATURE trees. The main floor offers a SPACIOUS LIVING ROOM, a BRIGHT EATING AREA with access to a LARGE COVERED DECK, good kitchen, two bedrooms, and a four pieces bath. The lower level has a WALKOUT AND UP to a fabulous backyard. One bedroom on the…
Active

Courtesy Of
Normajean Kinch Of RE/MAX WEST REAL ESTATE

$489,900 - 2065 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Detached

MLS® #C4287876

Lovely & well maintained fully finished 2-storey on a corner lot on quiet cul-de-sac in desirable West Terrace. Spacious entry opens up to main living area w/ corner gas fireplace and kitchen with adjoining dining nook. Hardwood flooring & 10ft ceilings on the main with Berber carpeting on stairs and in bedrooms. Tons of light from the many windows all…
Active

Courtesy Of
Rebecca Beninger Of CENTURY 21 BAMBER REALTY LTD.

$849,900 - 1203 Sq.Ft

Beds
3
Baths
3.00

ACTIVE

Detached

MLS® #C4287838

OPEN HOUSE SUN FEB 23- 1:00-3:00PM This home hasn’t been upgraded or renovated, it has been given a fresh start, taken down to the studs the interior has been completely rebuilt with a loving eye and simplistic character. The exterior is a summer dream, from new Hardiboard Siding, a full 3 car garage plus workshop, artificial turf, 9ft Cedar fence,…
Active

Courtesy Of
Glenn Evans Of 2% REALTY

$749,900 - 2750 Sq.Ft

Beds
4
Baths
3.10

ACTIVE

Detached

MLS® #C4287143

Welcome home to this stunning masterpiece in beautiful Auburn Bay! A custom-designed home with elegant features throughout and only steps to the lake. An opportunity to experience LAKE LIVING at its finest, where luxury meets functionality with almost 3,700 square feet of developed living space. As soon as you enter the front door the quality of this home is immediately…
Active

Courtesy Of
Gary Kreuzer Of HERITAGE ELITE REALTY

$479,000 - 896 Sq.Ft

Beds
2
Baths
2.00

ACTIVE

Detached

MLS® #C4286950

< PRICE REDUCTION, GREAT VALUE ! > Sellers are motivated and will look at all offers >>>> 50 x 120 ft corner lot in desirable inner city community, very close to Mission district, 17 Avenue, Elbow River, LRT & downtown; sweeping pastoral views of public open space (St. Mary’s memorial park), with city, mountain, and partial downtown views in distance;…


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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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