Buying homes in Bitcoin is offered in San Francisco Bay

By
Real Estate Agent with (408) 425-1601 CA bre 1519182
http://activerain.com/droplet/58WL

                                                                                      Sam Shueh

                                                                                  Realty One Group

                                                                        Campbell, CA

 

According to ABC News the Bitcoin fever is catching the affluent in real estate sales.  While most of us are merely following the news of volatility, a few home sellers want to offer the buyer an option paying in Bitcoin.  In North Point near Ghirardelli Square, an upscale mansion with a price of $13,000,000 the sellers can also take Bitcoin as payment to allow those instant rich an opportunity to cash out their digital hoard. 

 

The hypothesis is those who strike super-rich can quickly cashing out and allow high end homes to target more home buyers. One discount public brokerage Company stated there has been about one dozen homes where the sellers would accept Bitcoin gets a lot of press coverage. According them, there was a transaction the buyer offered to pay in part Bitcoin and it was accepted by the sellers. The buyer could not sell his Bitcoin to convert to currency he had in mind. He had to walk out of a deal.  There has been few isolated cases prviously where the crypto-currency broker was selling his real estate properties to his clients. This kind of story always hints the buyer can get a better deal when Bitcoin value is high but will avoid mentioning when the value tanked. 

 

Awhile ago, I knew a Cisco supplier who was trying to entice the company with opportunity that she will accept Paypal and Apple Money payment.  I told her the corporations will pay if she offers Net 30 day, 60 days, 90 day penalty etc. But they do not pay you in Paypal, Apple Pay or Wechat money. Big corporations often delay paying as late as possible. 

 

According to an article from Realtor.com the cryptocurrency using Blockchain Technology will stay. It took decades for credit card company Diners Club to gain acceptance using plastic money. Then Visa, Masters came way later. Until it is understood and accepted by everyone it remains as a curiosity. To this date there are still people who refuse to carry a credit card and insist to pay in cash. Consider the confusion created there will be more home buyers who do not understand how Bitcoin works and may think scammers are selling homes.

 

The realtors and enterprenuers aste no time as International Blockchain Real Estate Association is getting momentum with 4,000 members from 17 countries are actively pursue opportunities with this currency.  So one can download his life savings and the title company take a scanner aim at your phone or wear device to transfer funds for $13,000,000 can be a reality. 

 

SOURCE:  

Shueh, Sam  How is my Silicon Valley home worth? (Silicon Valley Home Values)

Prediction of 2018 Home Prices in San Francisco Bay Area 

Shueh, Sam    (Real EstateBlogs)

Shueh, Sam    (My Website)   

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Rainmaker
1,596,190
Lottie Kendall
Today | Sotheby's International Realty - San Carlos, CA
Serving San Mateo County and San Francisco

I've been watching the latest news stories about the spread of Bit Coins, Sam. No longer will I say 'never' in real estate.

Dec 27, 2017 07:45 PM #1
Rainmaker
831,354
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

 Lottie Kendall 

Happt holidays.  Did you find if the home is listed in SF MLS?

The address is supposed to be 935-937 North Point St, SF 

I like to validate it indeed accepts Bitcoin funds? 

 

Dec 27, 2017 08:13 PM #2
Rainer
132,522
J.R. Schloemer, CRS
Kentucky Select Properties - Louisville, KY

It could be a win-win for both parties if property and bitcoin both appreciate in value. Very interesting and pretty cool if you are able to be one of the first to be involved in the transaction. I see a new designation for NAR to create, Bitcoin Specialist Facilitator (BSF), or something similar 

Dec 27, 2017 08:52 PM #3
Rainmaker
2,637,228
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Sam, not a fan of this type of currency manipulation, reminds me of one of my clients who was into Gold right about the time Gold started tanking... he was trying to buy a home in the Hollywood hills... well we missed out on a lot of homes as the value of Gold kept shrinking...Endre

Dec 27, 2017 11:14 PM #4
Rainmaker
4,151,312
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Good morning Sam.  It is an interesting development, though I'm not sure it's here to stay as of yet.

Dec 28, 2017 04:42 AM #5
Rainmaker
1,320,012
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Sam Shueh Bitcoin is too volatile right now. Maybe if it were to stabilize, but not now.

Dec 28, 2017 06:39 AM #6
Rainmaker
3,513,323
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

The the price dropping on this curreency I wold be hard pressed to accept it as payment

Dec 28, 2017 08:12 AM #7
Rainmaker
831,354
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

There are several types of Bitcoin NOT just one. I heard there is a Mutual Fund buying 7 or 8 different types. It is like buying credit card companies combined to even out the plus and losers. Until it makes sense I stay watching.....

Dec 28, 2017 06:28 PM #8
Rainmaker
1,310,161
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Los Angeles CA

It would be an interesting experience to work with a client who wants to pay this way.

Jan 12, 2018 02:31 PM #9
Rainmaker
831,354
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

On TV near you someone wanted to accept in part payment in Bitcoin. The seller thinks there are rico personas who have both cash and bitcoin. asking price was over $15M.

Jan 12, 2018 03:58 PM #10
Rainmaker
2,322,088
Rebecca Gaujot, Realtor®
Perry Wellington Realty, Adam Conrad, Broker - Lewisburg, WV
Lewisburg WV, the go to agent for all real estate

Sam, I will continue to watch  Bitcoin as it seems to volatile at this time.

Jan 15, 2018 07:41 PM #11
Rainmaker
3,440,886
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Sam, this has not caught on here in Denver yet, but will be watching for changes.

Jan 16, 2018 05:43 AM #12
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