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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3 Tricks to Sell a Home Quickly

3 Tricks to Sell a Home Quickly

RECBL - Real Estate News

Some house flippers use short-term financing to buy a house in need of renovations, but it can have a higher interest rate than other types of financing. It also costs house flippers money in the form of daily interest charges. Other house flippers use their own cash reserves to buy a property.

In both situations, many flippers are focused on selling a home quickly. A critical aspect that impacts the ability to achieve this goal is to create a desirable home that buyers are interested in. When you’re preparing to transform an investment property, turn your attention to these important points:

Create an Open Floor Plan
One idea that works well when flipping is to create an open floor plan. Older homes that likely need more renovations may have a closed-off floor plan. This can make the home look smaller than it is, and can create a claustrophobic ambiance that may turn off some buyers. Depending on the home that you invest in, creating an open floor plan may be as simple as tearing down the wall dividing the kitchen and dining room.

For added emphasis, you can also tear down any dividing walls between living spaces and the dining room. While you’re not adding square footage through this process, an open floor plan feels bigger to a buyer and may be more appealing. In many cases, this is a cost-effective way to generate incredible results.

Add Natural Light
To transform the space of your investment home, analyze the natural light. Some older homes were built with minimal or small windows, which result in a dark and gloomy interior that is not welcoming or appealing to buyers. Consider enlarging existing windows to bring in more natural light.

You can also add a few windows or a skylight in the bathroom, kitchen or other rooms that are commonly dark. When you incorporate natural sunlight into a room, you transform the space by making it feel more inviting.

Research Competing Listings
Before you finalize your renovation plans for your next house-flipping project, you should spend time online researching competing listings. You could even visit a few homes to get a better feel for market conditions. When transforming a space, you need to at least bring the home up to a level that makes it directly competitive with other listings in the market.

It can also be advantageous to go a step above the current market conditions. This can make the home more appealing for a faster sale; however, avoid making renovations that are considerably above market-level. While the home may be very desirable to buyers when you do this, there is a strong chance that you may price the home above market rates. This can make the home too expensive for some buyers. The condition of your finished project is critical to your ability to sell the property quickly.

Many house flippers focus on cosmetic features when renovating a home. For example, they may pay attention to paint colors, countertop materials and flooring options. These are all important elements to focus on, but other factors are equally important if you want to benefit from a quick sale.

As you look for new homes to flip, and as you plan the renovations, turn your attention to these important transformation tips. By doing so, you can create a finished project that sells more quickly.

Do you have tips to sell houses quickly? Let us know at marketing@cashbuyerslists.com

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Listing During the Holidays – 3 Reasons Why It Works

Listing During the Holidays – 3 Reasons Why It Works

RECBL - Real Estate News

Before the internet, buying a home involved long hours of flipping through MLS books and driving prospects around neighborhoods; something many agents just didn't have time to do during the busy holiday season. Now that buyers are able to search, filter, and scan through potential listings without leaving their couch; home buying during the holidays has never been easier. Here are three reasons why your clients should list during the holiday season.

1. Capitalize on less competition.

During the holiday season, sellers can feel like they don't have enough time to maintain their home for showings or negotiate potential offers.

Because of this, they wait and re-list their homes at the beginning of the coming year. While this may make sense for some, it can also mean major missed opportunities.

The smaller number of listed properties can work out in your seller's favor since more potential buyers can potentially see your client's home. Make sure you take advantage of this opportunity by telling your clients to keep their homes show-ready at all times and recommending the best listing price possible. If your client's home has been on the market for a while, this may be an opportune time to consider a price adjustment.

2. Enhance the emotional experience.

Buying a home is an emotional experience for both the buyer and the seller. Often, the buyer's emotional connection to the home is what really solidifies the sale. The holidays are an especially sentimental time for many, as they bring back warm memories and allow buyers to imagine future celebrations.

Selling a home over the holiday season enhances the emotional connection that a potential buyer can make with your client's home. Foster this opportunity by reminding sellers to stage their home accordingly. Since different types of potential buyers will be coming to visit, avoid including overly religious decor. Instead, opt for simple and classic, such as a wreath on the door, a simple tree devoid of children's popsicle-stick decorations in the main room, and subtle garland in the kitchen. Also, consider burning a pine or cranberry-scented candle for those buyers who come over for a tour.

3. Work with motivated buyers.

If someone ventures out to look for a home during the holiday season, it's clear that they're a motivated buyer. Take advantage of this opportunity by making sure the property is marketed in the best way possible. This could be a great time to update listing pictures, check in with your clients on their listing price, or re-post the listing on your social pages or blog. In addition to this, remind sellers that they should be flexible around this time, in case a potential buyer wants to schedule a last-minute showing. This is also a reason why the listing should be in peak-showing condition.

Follow these tips and hopefully your clients will be out with the old and in with the new by New Year's Day!

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