The real estate market is constantly evolving, and this has especially been true over the past two decades as the internet and on-demand information have become essential in everyone’s lives. Sites like Zillow created a platform where the general public can access almost as much information as licensed real estate agents, thus providing them with more buying power than ever before. Now, there is a potentially even greater shake-up coming…the purchasing power of cryptocurrency.
Cryptocurrency (i.e. Bitcoin, Litecoin, and the like) is now making a play to become part of everyday real estate transactions. In 2017, the first home was sold in Texas (Austin) using Bitcoin instead of cash or traditional financing (the seller converted the cryptocurrency to USD upon closing). Now there is a new property on the market where the seller is not only offering to accept the non-traditional payment (and hold in his “crypto wallet”), but is actually offering an incentive to buyers for doing so. The owner is Richard Garriott, the video game pioneer and first private astronaut in space, and his wife, Laetitia, and their Lake Austin property is listed for $45MM.
With 2,700 feet of lake and Coldwater Creek frontage, a 300 seat outdoor Shakespearean theater, private marina, eight covered boat slips, a 1,000 square foot guest home, and haunted forest, this property has it all. Now they just need to find a cryptocurrency early adopter who has an account large enough to buy up this rare opportunity.
What do you think is the future of cryptocurrency in real estate? Would you offer a discount for buyers using cryptocurrecy?
Ashton is a born and bred Texan and TCU graduate with a real passion for helping people achieve their goals. Real estate became the perfect career to combine this passion with her strengths in research, marketing, communication and construction. Ashton’s specializations are in residential buyer and seller representation and residential investment properties, but she has experience in new construction, leasing and property management and farm and ranch properties. While she calls Fort Worth home, Ashton has worked is areas stretching across the Metroplex from Weatherford to Dallas. As they say, have license, will travel. Ashton is also an Accredited Luxury Home Specialist and Certified Negotiations Expert and holds her Graduate Realtor Institute certification through the Texas Association of Realtors. Outside of her career, Ashton enjoys being active and outdoors, volunteering with various organizations including DFW Labrador Retriever Rescue and Susan G Komen, and traveling whenever she can.