Cryptocurrencies Gaining Traction in Real Estate...A Blockchain Future?

Cryptocurrencies Gaining Traction in Real Estate...A Blockchain Future?

RECBL - Real Estate News

Bitcoin started out as blockchain technology with an innovative ideology for a more secure monetary future, and is now taking hold in the real estate world. Bitcoin and other cryptocurrencies, although not yet mainstream, show promise in an industry that typically prioritizes buyers who can provide secure funds for a property in a short amount of time.

Widely misunderstood, cryptocurrencies work through blockchain technology that creates a linear series of blocks of code, which are then used to create a record of each transaction and its access point.

The technology uses unique access codes that can be used from nearly anywhere in order to share data in a transaction. Essentially, Bitcoin and other forms of blockchain currencies cut out a central authority, using varying individuals to authorize the payment in order to ensure an impartial and secure transaction.

Some alternative blockchain currencies have wavered in price steadiness, but Bitcoin has consistently gained since its initial unveiling in 2009. Bitcoins value skyrocketed to nearly $20 million between July and December, and has now leveled off to around $16 million.

Bitcoin boasts the following advantages (on its website):

• Freedom to make or receive payments from anywhere in the world and at any time
• Fees are not tied to the transfer amount and can be chosen at the discretion of the user.
• Transactions are more secure because they do not contain sensitive customer information.
• Users can protect their funds with added backup methods and encryptions.
• The Bitcoin supply is transparent and cannot be manipulated because it is cryptographically secure.

More and more real estate businesses related to Bitcoin and other cryptocurrencies are beginning to form. One, the International Blockchain Real Estate Association, is a trade organization that was founded in 2013 and implements blockchain in real estate. The association states that using cryptocurrencies in a real estate transaction can "reduce costs, stamp out fraud, speed up transactions, increase financial privacy, internationalize markets and make real estate a liquid asset," according to its website.

But the technology is not without its vulnerabilities. While the unique codes provide some measure of security, they alone cannot prevent cyber fraud. Just last month, a Youbit heist in North Korea made international headlines as one occurrence in a series of events to try and steal from cryptocurrency exchanges and individual investors. Even Bitcoin is aware of its own challenges; its website cites that the degree of acceptance is low, currency volatility is an issue and the software is still undergoing development in order to make it more secure and accessible to the masses.

Bitcoin also needs to compete against multiple popular cryptocurrencies if it wants to stay on top. Here are the biggest contenders:

• Ethereum
• Ripple
• Litecoin
• Dash: Digital+ cash
• NEM
• Monero
• Zcash

While some luxury homes are listed with a Bitcoin price tag, the industry is seeing a lot more rental opportunities welcoming the blockchain technology. For example, ManageGo is a New York-based company that allows renters to pay with virtual currency-whether that be Bitcoin, Ethereum or Litecoin-all from an app. With this technology, landlords can eliminate the chance of bounced checks and receive funds by the next day. The app also works as an all-in-one support platform that allows renters to create and track maintenance requests. This is a way to attract renters that may be unsure about paying with Bitcoin, but now have the bonus of timely building maintenance and support to convince them.

Additionally, while buyers, especially home investors, are more willing to invest their cash in Bitcoin and other cryptocurrencies, sellers are wary of accepting a form of payment they are unfamiliar with. Many online marketplaces, such as Overstock.com, Namecheap and Reddit, are now accepting Bitcoin purchases, but it is not yet widespread enough to become a regularly accepted form of payment in a real estate transaction. Most agents are also unfamiliar with blockchain technology, and may decide to forgo working with sellers or buyers who say Bitcoin or other cryptocurrencies are the only payment method they will use.

As Bitcoin gains popularity, and, if more businesses begin to accept it as standard purchasing power, only then will the real estate industry begin to really consider the technology. Its use may also largely depend on location. Will it be used at the national level, or will it be relied on mainly for international transactions in order to avoid other volatile currencies?



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The Hottest Housing Markets This Year

The Hottest Housing Markets This Year

RECBL - Real Estate News

The US housing market has regained its momentum.

About half of all homes in the country are worth as much or more than they were in April 2007, during America's most recent housing boom, according to data from Zillow.

But some real estate markets are really on fire, with quickly rising home values and rental prices, increasing populations, low unemployment rates, steady income growth, and strong job opportunities, according to Zillow's latest housing report.

Below, check out the top 10 hottest real estate markets in America for 2018, along with median home values and rent prices, median household income, and projected year-over-year growth.

1. San Jose, Calif.
2. Raleigh, N.C.
3. Seattle, Wash.
4. Charlotte, N.C.
5. San Francisco, Calif.
6. Austin, Texas
7. Denver, Colo.
8. Nashville, Tenn.
9. Portland, Ore.
10. Dallas, Texas

Analysts based the list off the Zillow Home Value and Rent Forecast, which is the change projected in the Zillow Home Value Index (ZHVI) and the Zillow Rent Index (ZRI) for the coming year, as well as employment, income and population statistics from Glassdoor.

"This list shows that just because a market is smaller or more affordable doesn’t mean it isn’t dynamic," says Aaron Terrazas, senior economist at Zillow. "Growing cities in the Sun Belt, places like Raleigh, Charlotte and Nashville, offer plenty of opportunities in healthcare and finance, while providing a less-expensive, but still-convenient alternative to the larger and pricier markets in the Northeast. The tech industry continues to roar, attracting thousands of new residents per year to tech-dominant markets like Seattle, Denver and the Bay Area. The higher cost of living in these areas is offset to a large degree by well-paying tech jobs."

Across the top 10, analysts anticipate home values will increase between 3 and 8.9 percent in the next year-8.9 percent in San Jose, and 3 percent in Denver. The complete forecast:


For more information, please visit www.zillow.com.



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Credit Card Debt: Reduce and Save

Credit Card Debt: Reduce and Save

RECBL - Real Estate News

Like many Americans, you may be looking for a way to bring down your credit card debt. To help, the National Association of Personal Financial Advisors (NAPFA) offers the following six tips.

1. Pause some spending.
Identify any automated payments that can be eliminated or temporarily paused while you’re paying off debt.

Consider delaying or reducing large annual expenses, such as vacations or holiday spending, for one year. These temporary changes can help you pay off debt faster.

2. Reduce your interest rates.

Take an inventory of all your credit cards, including the interest rates and minimum payments. Next, call your credit card companies to ask if they will waive any late payments or reduce your interest rate.

3. Eliminate your most expensive card first.

Pay the monthly minimum on each card to avoid fees. Apply any left-over money to the highest interest-rate card first. Once this card is paid off, take the amount you were paying and apply it to the card with the second highest interest rate while continuing to make minimum payments on all other cards. Repeat until you have paid off all your credit cards.

4. Create a written budget.

A written budget will help you stay out of debt in the future. Allocate some of your spending to an emergency fund so that you are prepared if a job loss or health crisis arises. Check in with your budget each month.

5. Set financial goals and focus on the long-term.

What is most important to you? Do you want to save for a home or go back to school? Articulate your goals so you’re more driven to reach them. The changes you make in the short term are temporary and purposeful and will help you reach future goals.

6. Toast yourself.

Being debt free is an important milestone that is worth sharing and celebrating. Create a memory - a visit with a friend or a social media post - that you can recall when you are tempted to overspend again in the future.

Source: National Association of Personal Financial Advisors (NAPFA)



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Planning Ahead for Vacation Is Key

Planning Ahead for Vacation Is Key

RECBL - Real Estate News

(TNS)-According to advocacy group Project: Time Off, more than half of American workers leave unused vacation days on their company’s boardroom table. Meanwhile, the research shows that by planning ahead, more families will actually take much-needed vacations and thus reap a multitude of personal and professional benefits.

Here are five ideas to consider:

​1. Make planning a priority. Whether you begin by tossing up a tent in the backyard or strategizing to experience a safari in Africa, there is no time like the present to begin planning family travel.

As children and grandchildren get older, their schedules become more complicated by their own commitments, making it more difficult than ever to plan time together. What’s more, with dates on the calendar, you’ll feel less stress at work, knowing you’ve provided the boss and co-workers with plenty of notice about your plans.

2. Longer vacations. According to Project: Time Off , 75 percent of those who plan ahead were more likely to take a full week or more of vacation in a single stretch. By crafting a strategy in advance, you’ll have your pick of departures, the best cabins on a cruise ship and more options in popular resort areas. While you are at it, scan the year ahead and be the first to claim vacation days around existing holidays and school breaks, creating a longer stretch for relaxation and enjoyment. Knowing good times are on the horizon, you’ll have the added benefit of anticipating the getaway.

3. Bucket lists. Taking time to create a thoughtful bucket list can make it easier to plan for meaningful vacations, those that are a deliberate reflection of your values, hopes and dreams. So before you begin listing desired destinations, ask yourself what aspects of the world-geographically, spiritually and culturally-you want to share with your children, grandchildren and perhaps other friends and family members. As your ideas take shape, know your list will evolve over the years; therefore, think about which destinations you hope to visit while your children are in the nest and which might best be saved for later. And, when it comes time to involve youngsters in creating the bucket list, remember that kids don’t know what they don’t know. Certain theme parks and resorts will likely be on their radar screens, but they may not be aware of the glories of Yellowstone or Yosemite or the historical significance of Boston or Birmingham.

4. Celebrate milestone events. Geographic spread, busy careers and school and sports schedules make it more difficult than ever to spend time together; therefore, planning ahead to celebrate birthdays, graduations and anniversaries can be an important touchstone and meaningful part of a family’s legacy. With plenty of advance notice, you’ll increase the odds that more family members will be able to take part in the fun. Ask your clan to save a date and then get to work creating a gathering that will be a lasting memory for all.

5. Reap the benefits. In-depth research indicates that Americans who take time to plan their vacation time in the year ahead are happier than their come-what-may counterparts. Planners are happier with their health and well-being, their financial picture, their personal relationships and even their overall mood, according to the research. Further, an overwhelming majority of American workers report that time off helps them relax and recharge, and offers the opportunity to pursue personal interests. Nearly two-thirds of employees say their concentration and productivity at work improves with time off. Business leaders echo this sentiment. Of those surveyed, 91 percent believe employees return from vacation recharged and renewed-and ready to work more effectively.

Lynn ORourke Hayes (www.LOHayes.com) is an author, family travel expert and enthusiastic explorer.

(C)2017 Lynn ORourke Hayes
Distributed by Tribune Content Agency, LLC

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