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HomeRun Homes is a centralized marketplace which helps people Find or Sell a Rent to Own Home, both Nationwide and Globally to the thriving Rent to Own Market. http://www.lease2buy.com
Showing posts with label bitcoin. Show all posts
Showing posts with label bitcoin. Show all posts

December 11, 2017

What Happens At The Intersection Of Real Estate And Bitcoin (Cryptocurrency?)

Hi Folks,
   I hope you are having a blast this Holiday season thus far!!

   I think we can all agree we are pretty smart to be where we are, for the most part. Smart businessmen and women know that two of the fastest growing and most attractive industries to invest in today are both Cryptocurrency and Real Estate. This is because these industries have statistically proven to be extremely profitable especially Cryptocurrency which has shown…what…like a whopping percentage increase of up to 5,000% in just this year alone? Most of it, right now, due to Bitcoin,.

   Real Estate has always been on the rise, as it seems to appreciate as years go by having an average yearly increase of 6.4% as it holds a much larger investment scale or base. So, today, let’s take a look at how these two heavyweight investments affect each other and are starting to and will continue to grow together.

   The Cryptocurrency industry has gained a lot of credibility in the last few years because of the established set of rules that has ensured the integrity of data exchange among many users across the globe, without the help of the governments nor any extra or third party.  As a result of this, it has earned the trust of many nations and users globally, and as things have been moving forward, it is seemingly getting the name of “The Global currency” tagged onto it.

   Today the focus has shifted from debates on its potential and security to the fact that it can be used to purchase virtually anything of value from tangible to intangible assets (including Real Estate) in a way that is more instant/quicker, more precise, and more trustworthy than other methods available today. Also, the fact that it not only acts as a universal currency platform, but also as a platform for contracts that automatically executes (ethereum) makes it all better.

   So let’s take a look at some of the major changes that will spring up given the rise of Cryptocurrencies in the Real Estate market.

1.    Smart Contracts and Agreements

   Although we know that smart contracts concepts have been in existence for a very long time, the latest Cryptocurrency programming language pattern holds features that make smart contract functionalities even more evolved/advanced.

  The normal contract patterns seemed to take more time due to trust issues and the involvement of a third party, which costs more money and still does not guarantee complete honesty. If this contract, however, was signed using a digitally signed and computed agreement (smart contract) the contract closing would occur faster because the payment of purchase price would automatically trigger the transfer of asset title, thus eliminating errors and reducing external interference. Even Rent to Own (RTO) can be enhanced, as the tangible product Rent-to-Own platforms employ this platform, electronically executing change of asset title at the completion of payments. It is evolving into the intersection there the two industries meet.

 2. Land Records and Title Insurance-

   The system by which deeds & mortgages are recorded in many developed countries today is very poor, and even more surprising is that Real Estate interest rates are tracked through paper filings tracked by local government offices, which is manually intensive and prone to fraud, putting involved parties at risk. Title insurance, an insurance product, was officially created by Cryptocurrency technology to tackle these problems, by searching public records and incurring the cost associated with the title examination.

   Furthermore, by maintaining its Real Estate records on an online database, most companies would have the ability to provide clarity on ownership of claims on all types of properties (residential and commercial).

   The database created provides, among other benefits, an easily searchable platform, fraud-combating mechanisms, and reduced costs. On completion of a particular search and transaction completion, great tangible technologies like your Epson printer or scanner are also there if you desire to give most transactions a paper trail as well. Although there are some challenges with execution of this in some countries, the possibility of the globalization of this platform is a highly achievable goal.

Conclusion: New Real Estate Investors

   The Real Estate market has always been dominated by a select few, but with the rise of crypto-billionaires, there will be a huge shake up and a resulting rise in property value in the next few years. This is probably the best time to get into the Real Estate market because the Cryptocurrencies are staking their place in our economy, so you need to be in the loop! In the future, I would not be surprised to see some collectibles, for example, Baseball Cards and portfolios of collectibles, being used as a form of currency.

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Have a Great Week, and Happy Rent-to-Owning !
Rob Eisenstein
HomeRun Homes - Rent to Own Homes, since 2002
"Located at the Corner of Technology and Real Estate"
Rent to Own Homes and Real Estate Blog for HomeRun Homes: http://blogging.lease2buy.com
HomeRun Homes Websites: http://www.lease2buy.com and http://www.homerunhomes.com

TAGS: Cryptocurrency, bitcoin, real estate, rent to own