OAKLAND — An Oakland home owner is offering to sell his property for bitcoins or other cryptocurrencies, a growing trend in the real estate industry but a relative rarity in the Bay Area. There are nearly 400 homes listed for sale on Bitcoin-RealEstate.com, a brokerage website specializing in the nascent digital currencies, which are known for volatile fluctuations and a fair amount of risk.
Of those, there are 15 properties listed for sale in California and one other in the Bay Area: an undeveloped seaside bluff near Half Moon Bay. But, it was certainly a first for real estate broker Sean Beattie of Keller Williams. He’s been a licensed broker in the Bay Area for 17 years, he said, and has seen boom after bust after boom.
But, he’s never seen listings for homes being exchanged for the cryptocurrency locally, he said. So, when the seller, Alec Wang, requested to sell his property at 2559 Oliver Ave. for bitcoin, litecoin and other digital currencies, Beattie didn’t quite know how to respond.
“I was unsure,” he recalled. “I contacted (our legal department) to see if I could even do that.” They said yes, and so far, the response from would-be buyers has been overwhelming, Beattie said.
It’s not unusual to get dozens of calls and emails inquiring about a property as soon as it’s listed, especially not in the red-hot Oakland housing market. But, the type of response has been unlike anything he’s ever seen, he said. After listing the property on Friday, calls and emails have been coming in “every five minutes” from Italy, China and elsewhere across the globe. Read more from mercurynews.com…
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