Shameer Arain

Shameer Arain

Sales Representative
CENTURY 21 Leading Edge Realty Inc., Brokerage*
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As a CENTURY 21® Real Estate professional, I am dedicated to providing you with the highest quality service possible. My personal knowledge of the local Real Estate market is combined with the power of the CENTURY 21 brand .

When I made the decision to pursue a career in real estate, I did so because I recognized the opportunity in helping people realize their dreams when buying and selling a home, which is one of the biggest decisions most  will ever make. I find it rewarding to help friends, family and their friends  during this exciting time.

As a realtor with the most trusted and recognized brand in real estate, I have access to the industry's most innovative marketing techniques, industry-leading online presence, and the promotion of homes through Century 21 Global Referral Network.

 Let me assist you in finding your dream home, in a neighbourhood that is right for you, and in the price range you want. Or if you are interested in selling a property, I also have the expertise to help you get the fastest sale possible and at the best price.

I look forward to the opportunity of working for you!

Shameer Arain

Big banks boost condo financing even as unsold units in Toronto hit 21-year high

More from Bloomberg News

Scotiabank is financing as much as 75% of a condo project’s value and others are doing the same, according to Chris Milne, vice-president of real estate lending at the bank.
Peter J. Thompson/National PostScotiabank is financing as much as 75% of a condo project’s value and others are doing the same, according to Chris Milne, vice-president of real estate lending at the bank.

TORONTO — The Bank of Nova Scotia is among lenders boosting loans to condominium developers as regulators become less vocal about housing-market risk, according to Canada’s third-biggest bank.

Scotiabank is financing as much as 75% of a condo project’s value and others are doing the same, according to Chris Milne, vice-president of real estate lending at the bank. That’s up from about 70% in the past, when banks were concerned “there may be a meltdown” and regulators were more vocal about residential market risk, Mr. Milne said.

“The banks are back out there lending in the condo sector,” Mr. Milne said at a Toronto real estate conference Tuesday. “There is a hole that the banks are looking to fill. The regulators were really pounding them a year and a half ago and now it’s quiet.”

There is a hole that the banks are looking to fill


Banks are boosting financing to condo developers even as the number of unsold units in Canada’s largest city reached a 21-year high in January. There are about 1,600 unsold units on the market following a record number of completions in January, according to a report from Sal Guatieri, senior economist at Bank of Montreal.

Federal regulators have eased warnings on the real estate market compared with the late Finance Minister Jim Flaherty and former Bank of Canada Governor Mark Carney, Mr. Milne said. Mr. Flaherty backed several mortgage rule changes that tightened scrutiny of the so-called Big Six banks while Mr. Carney often commented on the risk of record consumer debt.

Toronto Real Estate Soars As Calgary And Edmonton's Markets Fall Hard

Oil prices may be wreaking havoc on real estate in Alberta's two biggest cities, but Toronto's market is still humming.

January sales figures released by the Toronto Real Estate Board (TREB) on Wednesday show sales and prices growingthroughout the Greater Toronto Area (GTA) in January, compared to the previous year.

The GTA saw 4,355 sales last month, compared to 4,103 last year (a jump of six per cent), with the average price rising from $526,965 to $552,575.

The City of Toronto (referenced as the "416" area code) accounted for 1,561 of those sales, while the rest of the region (shown as the "905" area code) saw 2,794 homes sold.

New listings in the GTA also grew 9.5 per cent year-over-year, from 8,762 to 9,596.

TREB president Paul Etherington said in a news release that the figures show positive news on a number of fronts.

"First, strong sales growth suggests home buyers continue to see housing as a quality long-term investment, despite the recent period of economic uncertainty," he said.

"Second, the fact that new listings grew at a faster pace than sales suggests that it has become easier for some people to find a home that meets their needs."

Detached homes accounted for most sales, with 1,996 coming off the market, while 1,201 condo apartments were sold.

But condo sales also saw a stronger increase between 2014 and 2015, jumping 11.2 per cent, while sales of detached homes went up by 7.1 per cent.

All of this is more than can be said for markets in Calgary and Edmonton, which saw poor returns compared to last year.

January sales in Edmonton dropped 25.9 per cent year-over-year, and 13.5 per cent from December, said a news release from the Realtors Association of Edmonton.

The average price of a home (all types) jumped 3.75 per cent year-over-year in January, to $362,394, while the median selling price climbed 3.33 per cent to $341,000.

Inventory, however, climbed nearly 30 per cent from the same month in 2014, as 2,316 new listings came on the market. That also represented a jump of 148.5 per cent from December, when 932 new listings were made available.

"The influx of properties we have seen on the market in January will be a relief for buyers — allowing them more choice in their price range and possibly more time to make their selection," association president Geneva Tetreault said in a statement.

Meanwhile, there was no sugarcoating the troubles facing the City of Calgary's real estate market.

January sales there fell 38.85 per cent year-over-year, from 1,439 to 880.

The Calgary Real Estate Board (CREB) said in a news release that sales were more than 35 per cent beneath than the 10-year average, and that "monthly housing sales activity fell to levels not seen in five years."

The reason? Oil, of course, is one of them.

"Economic conditions this year are expected to be weaker than original estimates provided in December 2014," Ann-Marie Lurie, CREB's chief economist, said in a statement.

"The change is partly connected to continued low energy prices, which impact consumer confidence. A lack of recovery in oil has many concerned about their employment status and this concern is reflected through the weaker sales activity in Calgary's January resale figures."

But, like in Edmonton, the amount of housing stock grew anyway, going from 2,181 units in 2014 to 4,655 this year, an increase of 113.43 per cent.

The average price of a Calgary home also dropped slightly year-over-year (-0.51 per cent), from $463,303 to $460,933. But the median price rose 1.08 per cent, from $417,500 to $422,000.

Prices largely remain stable because of a kind of standoff currently taking place between buyers and sellers, University of Alberta real estate Prof. David Dale-Johnson told CBC News.

"Put yourself in the shoes of a buyer," he said. "If you're thinking of taking advantage of this shock, you're being patient. So, you've got sellers that don't want to adjust and buyers that don't want to move."

Capital Economics economist David Madani says that Toronto and Vancouver, the country's largest housing markets, could stay afloat thanks to lower interest rates, in contrast with the damage that the price of oil is wreaking on home sales in Alberta, The Toronto Star reported.

The low value of the Canadian dollar might also be boosting Toronto real estate.

"I've had two American buyers in the last week say, 'OK, my affordability has just gone up $300,000 because of the exchange,'" Mortgage Architects broker Joe Sammut told the newspaper.

"One is a couple from San Francisco who have been sitting on the fence for eight months and are now ready to pull the trigger because they're looking at 21 cents on the dollar."

Overall, Madani sees sales dropping and average prices falling two per cent across the country in 2015.

Toronto's Real Estate Market Set To Remain Hot Right Through Fall Season

Toronto’s sizzling summer real estate market appears set to remain hot right through the fall.

John Andrew, a professor at Queen’s University, is watching with interest for the August numbers that the Canadian Real Estate Association will report in the coming days.

Low mortgage rates fuelled property sales in cities across Canada, with Toronto, Vancouver and Calgary seeing the most action, he says.

Prof. Andrew, who is the director of the executive seminars on corporate and investment real estate at Queen’s, predicts September and October will bring more of the same.

“I don’t think we’re going to see a significant downturn in sales until we see an uptick in mortgage rates.”

And when he says an uptick, he’s not referring to a month or two of gently rising rates – he’s talking about a sustained upward trend.

The Toronto Real Estate Board reported that sales rose 2.8 per cent in the Greater Toronto Area in August from a year earlier, while the average selling price rose 8.9 per cent. Prof. Andrew says the increase in sales in August came on a drop in listings.

The market is still fairly balanced, he says, but it could tip over to a sellers’ market. He wonders if that, in turn, will encourage more homeowners to list their properties for sale. “As soon as people realize it’s a sellers’ market, they say ‘maybe it’s a good time to sell our house.’ ”

Prof. Andrew notes the contrast between this year and last, when a sudden shift in the market came right after Labour Day. Last summer, mortgage rates edged up between June and September. Many people hadn’t been paying attention and that led to a sudden burst of buying in September when people were spurred on by the fear that rates would climb even higher.

Fluctuating bond yields have brought about the movement in mortgage rates over the past year.

The professor also points out that he used to make a note in his calendar of the days when the Bank of Canada’s interest rate committee was set to meet. He could expect a lot of calls from media on those days. More recently, those meetings have become a non-event, he says, because no one expects the central bank to make a change.

The low mortgage rates through the summer of 2014 may have attracted more marginal buyers who will struggle to pay their mortgages when rates eventually rise, some economists warn.

David Madani of Capital Economics cautioned this week that imbalances in the market for newly-built houses and condo units point to a looming slowdown. In the new-house market, starts are running ahead of demographic demand, the economist warns. Inventories remain high for new units despite the incentives offered by developers.

Meanwhile, this week, a buyer stepped up to purchase that mid-town Toronto house with nearly its entire backyard taken up by a koi pond. The house at 552 Merton St. was a Globe Real Estate “home of the week” in August.

The house, with an asking price of $1.099-million, had a dozen or so koi living in a 132,000-litre pool.

Real estate agent Bruce Cram of ReMax Hallmark Realty Ltd., who represented the seller, scheduled a date to review bids from potential buyers but that date passed with no offers.

Mr. Cram believes the lack of offers had nothing to do with any summer doldrums in real estate; the market was buzzing and swarms of people came through the house. He says people were intrigued by the koi pond but they couldn’t get their heads around it. “There was a ton of interest,” he says, “but if it wasn’t their passion they wouldn’t know what to do with it.”

The new owner is unsure of what to do with the pond, Mr. Cram says. “She perceives it may be too much to maintain.”

For now, the koi keep swimming.

Follow  on Twitter: @CarolynIreland

Toronto home sales, prices surge in June

Home sales in Canada’s biggest city climbed 15.4 per cent in June from a year earlier, to 10,180, the Toronto board said.

The average price rose 7.4 per cent over the same period, to $568,953.

Prices for semi-detached homes came in with the strongest showing, up 9.7 per cent. Notably, the condo market, which many observers deem frothy, saw price gains of 6.8 per cent.

“Despite higher inventory levels, the condominium apartment market segment has benefitted from enough buyer interest to result in above-inflation price growth,” said the group’s senior manager of market analysis, Jason Mercer.

Paul Etherington, the new president of the real estate board, added he expects to see sales continue to climb through the summer.

This came after a Conference Board of Canada report showed that the ugly winter may have hurt Toronto’s housing market, but that the end result could be “negligible.”


The Globe and Mail


Toronto/GTA listing up and so are sales

The number of homes for sale picked up considerably in June – with new listings up 7.8 per cent over a year ago – but pent-up demand continues to outstrip supply, says theToronto Real Estate Board.

For that reason, TREB is predicting a seller’s market for at least the rest of this year.

The average GTA house price as of mid-June was $582,100, up some 8.6 per cent from the average price of $535,865 at the same time last year, said TREB in a release highlighting sales as of mid-month released Tuesday.

June traditionally begins the slowdown of the peak spring season and realtors have been noticing a marked difference from April and May when bidding wars reached an almost fever pitch.

But the fact sales continue to outstrip the growth in new listings “suggests there is still a lot of pent-up demand yet to be satisfied,” leaving sellers with the upper hand, says TREB president Dianne Usher.

Just Monday, the Canadian Real Estate Board cautioned that Canada’s housing market is showing signs of a slowdown after an unusually busy April and May that may have largely spent all the pent-up demand from the winter that refused to end.

It predicted a “transient” summer for sales.

According to TREB, the average price of a detached house in the 416 region as of mid-June was $941,813, up 7.5 per cent year over year compared to $652,146 in the 905 region, up 7.9 per cent year over year.

Even resale condo prices were up almost 6 per cent as of mid June, year over year, to an average of $397,942 in the City of Toronto and $300,870 in the 905 regions.

Condo sales were up 10.9 per cent in the city and 7.5 in the suburbs as house hunters increasingly look to condos as an alternative to the pricey house market.

The sale of semis were up almost 13 per cent in mid June over a year ago, and prices were up an average of 10 per cent, to $702,782 in the City of Toronto and $452,261 in the suburbs.

Townhomes sales climbed by 8.3 per cent, year over year, and prices were up 6.3 per cent, to an average of $485,394 in Toronto and $394,993 in the 905 regions.


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