Glut of Homes Available

Glut of Homes Available

Here is currently a surplus of homes available on the real estate market in Virginia which signals that the market hasn’t stabilized and things could progressively get worse.  The housing market in Washington D.C. is far from turning around because of a large inventory of homes and affordability levels still extremely poor.

Pending home sales were surprisingly high in the month of December but those reports are fools gold.  This news was hardly an indicator of the health of the market, however.  The upturn in pending home sales had more to do with the unseasonably warm weather not to mention that chances are, Click here for a budget home renovation to fit your pocket.

Glut of Homes Available

The reason the upturn was credited to the market is because the homeowner vacancy rate was way up from its normal rate.  All these homes sitting unoccupied will pressure selling prices lower and lower for the foreseeable future.

Buying a house with Bitcoin: Our opinion

At present, we don’t see Bitcoin as a viable option for buying and selling property. That’s not to say it never will be, but at the moment there are several things holding it back.

Firstly, there’s the fact that it’s not mainstream enough to attract the volume of buyers required in today’s market if you were to solely offer the sale in Bitcoin. You could certainly add cryptocurrencies as an alternative payment method, but would many people take you up on the offer if you did? Probably not.

Then there’s the trust factor. As a burgeoning currency, Bitcoin is still likely to cause the uninitiated a degree of concern…especially when making one of the biggest transactions of your life. While the crypto-geeks will assure you that Bitcoin is very safe (and we agree that it is), it’s probably still too new for the majority of sellers to adopt with any conviction. What happens if something does go wrong? After all, you have no regulatory board or central bank to run to if it does. But here’s a safe option

Finally, there’s the volatility of the cryptocurrency markets. Bitcoin is flying high at the moment, producing the kind of hockey stick chart investors usually dream of when they are tucked up in their beds at night, but will it last? There’s every chance it will (some are predicting prices of $500,000 by 2030), but there’s every chance it won’t, too. What happens if a rival cryptocurrency improves on the foundations laid by Bitcoin, for example? It’s all a little sketchy at present.