Virtual currencies are currently taking the world by storm. That said, it should surprise no one that there is a trend blooming that is bringing real estate and cryptocurrencies together. This trend has finally reached the Bay Area as an Oakland native has just put his home for sale in exchange for bitcoins and other cryptocurrencies.
The move has hit Oakland with some shock, but this has been going on for quite some time. Bitcoin-RealEstate.com, a brokerage website has nearly 400 homes listed for sale. Within those 400 are 15 homes located in the state of California. Of those 15, 2 are located in the Bay Area.
No one could have been more shocked than Sean Beattie, a real estate broker with Realty Experts. He has been a broker in the Bay Area for over 17 years and has seen it all. One thing he never saw before were homes being sold for cryptocurrencies. When Alec Wang made the request, Sean didn’t know quite what to say about it. He didn’t even know if it was something that he could do.
Beattie has stated that the house has gotten a number of inquiries. It’s like nothing he has ever seen, especially in Oakland. It isn’t exactly normal to get so many calls concerning a single house immediately upon listing it. Calls are coming from everywhere around the globe, from Italy to China.
Alec Wang isn’t sure why a frenzy has been worked up over his house. He isn’t sure if it due to the connection with cryptocurrency or the buzzing Oakland real estate market.
One always has to wonder what one will do with the huge changes that come with cryptocurrencies. The value is always fluctuating. Everything can change within an hour. Wang has stated that they will ultimately settle on a dollar amount on the house and then agree on a certain exchange rate upon closing. At the moment, the four-bedroom, the two-bathroom house stands recently remodeled and is listed at $648,000.