Let’s talk about Web3. You may have heard this term recently as cryptocurrencies, NFTs, and blockchain technology are becoming more prevalent in the technology spotlight. Web3 is a new iteration of the World Wide Web, based on blockchain and incorporating decentralization and token-based economics. This new version of the internet will span across all industries, from coffee shops to multi-billion dollar corporations - and real estate is no exception.
While a few years ago, there was one way to buy and one way to sell. Web3 provides alternative financing solutions, unlocking paths of homeownership both through new avenues and for those who didn’t have purchasing power previously.
8z’s Founder & CEO, Lane Hornung, recently spoke about this topic on the stage of Inman Connect - New York. Check out the recording below where Lane talks about how Web3 is already working its way into real estate through new tools and business models, and how it will change the industry forever.
Monthly Market Snapshots
Monthly Market Snapshots
A Look at the Market
A Look at the Market
As most of the country sees a slowdown in the housing market, Colorado continues to remain strong overall. However, it appears prices hit a short-term peak last month - The Denver Metro saw median sale price decrease slightly from $615,000 in April to $610,000 in May, and list versus sold price remains dropped to 105%.
While median sale price didn’t increase, homes are still selling for more than the asking price on average. This is a clear sign that buyers are still competing, resulting in bidding wars for many listings. We also saw another increase in the number of new listings hitting the market. If this trend continues, it could bring some much-needed relief to buyers who’ve been beaten out on numerous homes.
The Perfect Solution
The Perfect Solution
While bidding wars can make buying a home an intimidating endeavor, there are ways to overcome the competition and make an offer that’s extremely favorable for the seller. So what’s the best way to stand out? With Cash - 8z’s Cash Buyer solution allows you to make an all-cash offer on your new home, removing the stress and complexity of having to beat out other traditional offers.
In just a few easy steps, you’ll be pre-approved and ready to find your new home. One of the best parts about submitting a cash offer is that you’ll often be able to beat out other offers, even at a lower price! For a seller, receiving cash is the most convenient solution, especially if they’re on a timeline to move. Rather than deal with the list of contingencies on a traditional offer, it’s much more appealing to accept cash. This year alone, 8z has already helped over 70 clients buy the home of their dreams with cash - it’s the perfect solution for this current market. If you’re ready to become a cash buyer, or even if you’d like to learn more about how the process works, give me a call today!