It could be worse Greater Fool Authored by Garth Turner The Troubled Future of Real Estate. In response to recent comments accusing this blog of being unnecessarily negative about residential real estate, we are pleased to announce our newest occasional feature The GTA Housing Deathwatch  First up, Derek. You may recall this blog dog sold his North GTA Mc. Mansion at the height of the frenzy prior to Easter, received multiple bids, and picked the highest one 2. Days later, with the market starting to turn, the buyers balked. They begged to be let out of the deal, then the mean lawyers were called in. Ultimately Derek relisted for 2. Meanwhile he sued the purchasers one of whom is a real estate agent for breach of contract. The claimed damages amount to 1 million plus costs, and the defendants have until the end of the month to file a statement of defence. But they ve chosen to disappear. 3D Games On Pc Download Com. No communication. Nada. Stress, says Derek. Find detailed information about Century 21 franchise costs and fees. Century 21 franchise is for a real estate brokerage offering with defined real estate brokerage. Nursery Mailing Address 168 Market 6281 Regio Ave., Buena Park, CA 90620 168 Market 6281 Regio Ave., Buena Park, CA 90620 3 D Nursery 904 South Oaks. Brightwood/California_Real_Estate_Continuing_Education.jpg' alt='Renew Ca Real Estate License Cheap' title='Renew Ca Real Estate License Cheap' />We are steeped in it. Word from their agent is that an offer might possibly, maybe, perhaps be in the works for a max of 1. Ill take it, says D, who meanwhile has rented a new place with possession on August 1st the date the house deal was supposed to close. Hour-Sm.png' alt='Renew Ca Real Estate License Cheap' title='Renew Ca Real Estate License Cheap' />So all of the costs of his original place mortgage payments, property taxes, insurance, maintenance from that day on will be added to the claim. Comments a lawyer working on similar cases in the area This is endemic. We are swamped with actions involving collapsed deals, and the effect seems to be one of dominoes. Im starting to think the entire move up market is collapsing as buyers elect to default, or find they cannot finance at the prices they paid. By 2030, you probably wont own a car, but you may get a free trip with your morning coffee. TransportAsAService will use electric vehicles and will upend two. Cutter, it is indeed a sad state of affairs. Weve sacrificed local economies and real estate values for lower prices on doodads and processed food. Find detailed information about Engel Vlkers franchise costs and fees. Engel Vlkers is involved in real estate and marketing of commercial properties. In response to recent comments accusing this blog of being unnecessarily negative about residential real estate, we are pleased to announce our newest occasional feature. COOLPL8Z. com is the 1 vanity license plate resource on the web. The main aim of IVVA is to unite volleyball veterans from all over the world and allow them to test their skills on international level. ASWB processes social work license applications for Massachusetts, as well as social work license exam preapprovals for Colorado and Utah. Good for us, though. Close by, in York Region where some of the frothiest house prices in the entire country occurred during the winter there is buyer remorse and seller panic. Between April and the end of June sales of detached houses collapsed more than 5. The price of an average house fell more than 1. Official site. Government page links to state laws, elected officials, agencies and departments, and sites for cities and counties in the state. Yearyear sales are down 6. Meanwhile greed has become fear, and the speculators have turned tail and left town. Said a veteran realtor to the local paper The supply increased by 4. Everybody was waiting and wanted to cash out but some waited too long. Where before you only had one house, now youve got 1. As Rate Day in Canada dawns, financial markets indicate a 9. Bank of Canada will commence a tightening cycle. It probably couldnt happen at a worse time just like the news that all borrowers will be stress tested starting later this year, required to qualify for loans 2 more expensive than offered. Is the central bank making a big mistake Not according to Derek Holt, one of Bay Streets sexier economists. On Tuesday he published his Top 1. List of why the Bank of Canada is about to goose rates multiple times. Call it an economists attempt at late night comedy, minus the part about being funny of course because this is about monetary policy, he said, correctly. Among this reasons This is not 2. And, besides, whats wrong with a housing correction A cooler market for affordability is welcome to a point, he says. Derek also says its seriously misinformed for people to think what happened in the US when the housing market ate the middle class will take place here. You bet, says veteran real estate broker Alex Prikhodko, it could be worse. There are plenty of reasons to believe that this is just the beginning of a long and, for a lot of people, painful down spiral, says the Toronto realtor. Particularly crushed, he surmises, will be three groups 1. Amateur builders flippers. They are the most vulnerable to price drops, as they are carrying significant debt which they will no longer be able to service and will be forced to sell for whatever they can get. Amateur landlords. Currently rent covers around 4. These people were willing to take a hit on mortgagerent discrepancy for as long as their properties were rising in value, since they would have easily recovered the losses upon resale. This is no longer the case and they are not likely going to keep taking losses by holding onto their depreciating assets. Mortgage renewals. Anyone who bought in the last 2 years with 2. I personally know a lot of people in all 3 types of scenarios, says Alex, who are seriously freaking out. To make things worse or better, Bank of Canada is about to raise interest rates. The actual increase wont be much, but it will send a powerful message, much like the foreign tax did. Lets face it, foreign tax was only a psychological signal and had no economic impact whatsoever. All asset bubbles are psychological and this one is no exception. So what will be the impact of three or four rate increases by the end of next year Adding three quarters of a point or a full 1 to mortgages would eliminate 6 to 8 of all potential homebuyers, says the chief economist to the mortgage business. Its worth noting the American housing bubble blew up when 8 of homeowners became distressed. Right now people are staying away from buying, Will Dunning just told Bloomberg. If they stay away over a longer period of time, that could become dangerous, that could become deflationary. Tomorrow this blog begins a series on puppies and tummy rubs. Come early. Bring a blanket. Century 2. 1 Franchise Cost Century 2. Restoration FDD Franchise Information. Date of Incorporation 1. Franchising Since 1. Headquarters Parsippany, New Jersey. Business Description Century 2. Real Estate LLC is the franchisor of the worlds largest residential real estate sales organization, providing comprehensive training, management, administrative and marketing support for the Century 2. System. The franchise is for a real estate brokerage offering with defined real estate brokerage services from a specified location under the name Century 2. Financial Assistance Neither Century 2. Century 2. 1 or a related company, however, have the right to offer the franchisee financing based on several factors including without limitation the franchisees financial need, credit history, ability to repay, net worth, stability, as well as Century 2. Century 2. 1 has the right to require the franchisee to furnish financial statements, tax returns and other documents. The terms of any financing are open to negotiation between the parties. Century 2. 1 or a related company offers three types of financing in the form of promissory notes. Training and Assistance Training is conducted at or near Century 2. New Jersey, or at other locations as Century 2. The franchisee or his or her designee approved by the franchisor is required to attend the program within 2. Franchise Agreement. On the job training is not provided. During the operation of the franchised Century 2. Office, the franchisor will provide continuing assistance to franchisees with respect to improvements and changes to the Century 2. System. Guidance may be in the form of bulletins or other written materials, electronic communication, consultation by telephone or in person at a franchisees office, or by other means. Other sales training programs are also held on a periodic basis for Century 2. Century 2. 1 selects or through online courses. These programs may be on a variety of topics, sessions, and Century 2. Territory The length of the initial franchise term is 1. Opening Date. There are no renewal rights. The franchise agreement will be extended for 1. Term Extension Addendum. Term of Agreement and Renewal The length of the initial franchise term is 7 years. If requirements are met, franchisees can renew for an additional 7 year term. Obligations and Restrictions The franchisee, if an individual and obtaining the franchise as a sole proprietor, or the Owners, if the franchisee is an entity, must participate in the management of the franchised business. The franchisee or Office managers must maintain a valid real estate broker license or the franchisee must retain a Responsible Broker for this purpose and comply with all applicable laws, rules and regulations. The Office managers must attend training, but do not need to have equity interest in the business. The franchisee will require all management personnel, including the franchisees Responsible Broker and manager to treat as confidential all Century 2. Century 2. 1 also recommends that they agree not to compete with the franchisee or the Century 2. The franchisee many only operate a real estate brokerage business from the offices, unless Century 2. Estimated Number of Units 6,9. Investment Tables Initial Investment for a Conversion Office Name of Fee. Low. High. Initial Franchise Fee02. Real Estate and Improvements. Not included in total. EquipmentFixtures Not required3,0. Signs Exterior2,0. Signs Yard, Open House and Rides2,0. Name Badges approx. Miscellaneous2. 505. Other Advertising 3 Months Not required01. Brokers Council Fees and Assessments 3 Months Not required01,2. Legal Expenses04,0. Office Supplies1,0. Website03. 0,0. Multiple Listing Services05. International Management Academy IMA01,8. Grand Opening Promotion5. Insurance Deposits and Premiums5. Additional Funds 3 Months3,5. ESTIMATED TOTAL1. Initial Investment for a Start up Office Name of Fee. Low. High. Initial Franchise Fee02. Real Estate and Improvements. Not included in total. EquipmentFixtures Not required3,0. Signs Exterior2,0. Signs Yard, Open House and Rides2,0. Name Badges approx. Miscellaneous2. 505. Other Advertising 3 Months Not required01. Brokers Council Fees and Assessments 3 Months Not required01,2. Legal Expenses04,0. Office Supplies1,0. Website03. 0,0. Multiple Listing Services05. International Management Academy IMA01,8. Grand Opening Promotion5. Insurance Deposits and Premiums5. Additional Funds 3 Months3,5. Additional Fees for Start up Office. Leasehold Improvements4. Facility and Space Planning1,8. Security and Other Deposits7,5. Pre Paid Business Expenses3,0. Computer Equipment for Electronic Data Transfer System5,0. Additional Funds First 3 months after opening5. ESTIMATED TOTAL1. Other Fees Type of Fee. Amount. Royalty Fee. Gross Revenue, except that Gross Revenue for Property Management Services is assessed separately with a Property Management Fee equal to 1. Gross Revenue. Property Management Fees. Gross Revenue from Property Management Services. Minimum Monthly Royalty Fee5. Minimum Annual Royalty Fee. Varies by location. Brokers Council Fee. Varies by location. Brand Marketing Fund Fee BMFPROGRAM A 2 of monthly Gross Revenue up to 3,0. Gross Revenues over 3,0. PROGRAM B 2 of monthly Gross Revenue, subject to a monthly minimum of 6. June 1, 2. 01. 7, a minimum of 6. Zap Platform. Currently, franchisees do not have to pay a separate fee to use the technology platform, although the franchisor does reserve the right to require payment of reasonable fees to the franchisor, Zip or an affiliate for use of the platform. Lead. Router Fee3. Computer Hardware and Software Maintenance and Support1,0. International Management Academy Fee IMA3. Other Education Fees. Varies by course and duration. Audit Fees. Cost of audit plus fees past due, interest, late charges and costs. Liquidated Damages. The combined monthly average of Royalty Fees, advertising contributions, and any other fees under the Agreement without regard to any fee waivers, rebate or other reductions payable from the Opening Date through the date of early termination, multiplied by the lesser of i 3. Term. Special Assistance. As negotiated. Late Charges and Interest. All past due payments will bear interest at the highest legal rate not to exceed 1. TransferAssignment Fee5,0. Costs and Attorneys Fees. Will vary. Taxes. Will vary. Indemnification. Will vary. RelocationImprovement Fees. Will vary. Insurance. Cost of Insurance. ProductService Fee. Will vary. TestingInspection Fees to Approve Supplier. The franchisor does not currently charge fees for approval of a supplier, but it has the right to charge reasonable testing and inspection fees. Expanded Location Fee. For any additional Branch Offices the franchisee opens, they are required to pay an initial franchise fee per Branch Office of 1. Global Conference Fee3. Conference, depending upon when franchisee registers. The above information has been compiled from the FDD of Century 2. Year of FDD 2. 01. Franchise Directs Disclaimer.