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Bitcoin Basics in 2021

Bitcoin Basics in 2021

Bitcoin Basics for Real Estate Agents in 2021 ( + Expert Predictions)

At Sheri Dettman & Associates, we have always prided ourselves on being ahead of the curve. Bitcoin, and blockchain, although they have been around for a few years, are still something that is not yet widely understood in the Real Estate world. This article makes it easy to understand! We look forward to using blockchain tech and being your go-to agents with, as always, the latest, and best technology along with the best personal service.

February 4, 2021/Courtesy of Emile L'Eplattenier

One of the most common questions we get from real estate agents these days is when, or even if, bitcoin will finally make its way into real estate transactions.

Of course, if agents are asking us that, it means their buyers and sellers are probably asking them. So it’s only a matter of time before understanding how this technology works will be necessary for any agent who doesn’t want to get left in the dust of yet another disruptive technology for real estate.

The only problem is that bitcoin is—and there’s no other way to say it—confusing. Don’t worry, though. Even people who are so-called experts in the field can have a hard time explaining it.

That’s why we put together this quick explainer on bitcoin for real estate agents and also talked to a few agents and brokers who have already taken the leap to get their take on how they think bitcoin will transform the real estate industry in 2021 and beyond.

Can My Buyers Purchase a Home With Bitcoin Yet?

Coding

Kind of. However, almost all real estate transactions using bitcoin have used a service called BitPay to convert bitcoin to U.S. dollars (USD) to transfer funds to the seller.

As far as “bitcoin-to-bitcoin” transactions go, where title changes hands and the bitcoin is never converted into USD—they still remain very rare. The sticking point is generally title companies and lawyers, both of whom are still somewhat reluctant to use the digital currency.

Douglas Elliman’s Stephan Burke and Carol Cassis sold the first property using bitcoin wallets in 2017, as well as a $6 million transaction after that, the largest fully bitcoin translation to date. Since then, they have closed more than $34 million in volume using cryptocurrency converted to cash.

However, while it has been slow going here, where bitcoin and blockchain show the most promise is for overseas transactions.

Over at the always-excellent Mansion Global, EminGun Sirer, associate professor of computer science and co-director of the Initiative for Cryptocurrencies and Smart Contracts at Cornell University, weighed in on why cryptocurrencies are ideal for foreign buyers:

EminGun Sirer Initiative for Cryptocurrencies and Smart Contracts

“Cryptocurrencies enable the quick, frictionless transfer of value across the globe. This enables someone in Russia to be able to easily send bitcoins to purchase land in Belize.”

Should I Advise My Sellers to Accept Bitcoin?

In today’s market, bitcoin may not be ready for prime time, but there is one thing that is undeniable. Offering your listing for sale in bitcoin will get you instant free press. Remember the first listings that had drone videos? Imagine that times 10. Here’s Seattle Realtor, Sam Debord:

Sam Debord Seattle Realtor“I’ll sell my house for bitcoin” is the latest marketing tactic, and it’s working … at least for publicity.”

In order to accept bitcoin, you can either have the seller transfer into USD, work with a title company that will accept bitcoin, or have a lawyer write up a contract that covers all risks from bitcoin. At this point, most people will avoid actually paying in bitcoin, but the free press might be a good trade-off.

Can My Buyers Get a Loan With Bitcoin?

Yes. Startups like Unchained Capital allow people who hold bitcoin to borrow up to $1 million with no credit check and interest rates between 10% and 14%. However, these are not long-term loans; Unchained offers loan lengths ranging from three months to three years.

While not for everyone, hardcore bitcoin owners use services like this to get quick liquidity without cashing in their bitcoin portfolios. Think down payments, or maybe even bridge loans.

There Must Be a Catch … Is There Capital Gains Tax for Transferring Bitcoin to USD?

Yes. As of January 1, 2018, the federal government considers cryptocurrency as property and anyone selling (or trading bitcoin for U.S. dollars) will be hit with capital gains tax on the amount their bitcoins appreciated since they purchased or mined them.

Are Bitcoin & Blockchain the Same Thing?

No. While bitcoin is a digital currency that you can exchange for goods and services, blockchain is the underlying technology that stores bitcoin or other cryptocurrency transactions in a digital ledger.

Bitcoin

Okay, Then What Is Bitcoin Exactly?

Bitcoin is a fully digital currency created in 2009 by an anonymous person who goes by the name Satoshi Nakamoto online.

Like any other currency, bitcoin can be used to pay for goods and services, transfer funds, or as an investment. Currently, over 15,000 vendors accept bitcoin, from Microsoft to small businesses.

The main difference between bitcoin and say, an ACH transfer through a traditional bank is that there is no middleman in the transaction. The entire transaction from buyer to seller takes place on the Bitcoin network. Since a bitcoin transaction bypasses the different bank policies, or different regional banking laws that are part of any other transaction, transfers are much faster.

Since there is no bank or government to get in the way, bitcoin can be a great way to transfer money or make purchases overseas. Foreign buyers may find bitcoin’s speed and simplicity ideal for buying property in the United States.

Bitcoin is an example of a fiat currency; its value is not backed up by gold or other tangible assets. Instead, bitcoin relies on something called blockchain to verify transactions.

Got It. So What’s Blockchain?

Although blockchain is very complex, the best way to describe it to your clients is to compare it to ACH, the technology that lets you “wire” money from one bank to another. The main difference is that blockchain does not rely on banks to verify transactions have been completed. Instead, once a transaction is completed, it is stored in an encrypted digital ledger that is distributed among everyone on the blockchain.

This means that instead of relying on trusted institutions like banks to verify transactions, the verification is done very quickly by algorithms that check the stored transaction data on the millions of users on the blockchain.

What makes blockchain so powerful is that the ledger is stored on every single computer (node) in the system. This makes faking a transaction virtually impossible. Since the blockchain is extremely secure, it has many applications beyond verifying and storing bitcoin transactions. Everything from contracts to voting records can theoretically be stored on blockchain.

Which Technology Will Have a Bigger Impact in the Real Estate Market, Bitcoin or Blockchain?

According to most experts, blockchain will have a bigger impact on real estate than bitcoin or other cryptocurrencies. Here’s why: Transaction speed is not a very pressing problem for real estate transactions, but record-keeping and middlemen are. Here’s Jason Shepherd, co-founder of Atlas Real Estate Group, on why he thinks blockchain technology, particularly smart contracts and other applications built on Ethereum, an alternative to bitcoin, will change the real estate market:

Jason Shepherd Atlas Real Estate Group

“It is important to separate the cryptocurrency from the underlying blockchain technology when discussing real estate disruption. The disruption in real estate will come from the blockchain technology (distributed ledger) and smart contracts like those found on the Ethereum platform.”

So What Are Smart Contracts?

Smart contracts are contracts between two parties that are verified and stored on the blockchain. Today, most smart contracts are built with the blockchain protocol behind Ethereum, another cryptocurrency.

The main benefit behind smart contracts is that there is no need for a middleman in the transaction. Everything is verified and stored on the blockchain.

In the future, blockchain can be used to store records of a transaction all the way from a blockchain-enabled MLS, to escrow, inspections, title, and sales contracts. Leases and other commercial real estate contracts could also be on the blockchain.

While smart contracts haven’t yet hit the mainstream for real estate, startups like Propy and Ubiquity.io are changing that.

To learn more about smart contracts, check out this excellent guide over on Block Geeks.

What Is This ‘Mining’ for Bitcoins I Keep Hearing About?

Man Mining

OK, from here on in, the process gets a bit more technical, and therefore much harder to explain. While it’s unlikely your buyers or sellers will grill you about this, having a basic understanding can help.

Remember how we talked about how transactions on the blockchain are verified by other users? Well, bitcoin mining is the process that verifies transactions and adds them to the public ledger.

Bitcoin “miners” are rewarded with bitcoin for using their computer’s processing power to verify transactions. Before you get too excited and start mining bitcoin out of your broker’s office, understand that in most places, the payment for mining bitcoin will probably be less than the electricity costs to run computers long enough to verify transactions.

What Advantages Do Other Cryptocurrencies like Ethereum, Litecoin & Ripple Have Over Bitcoin?

OK, now we’re getting a little too far into the weeds. Worse, the crypto industry changes so fast that by the time you read this, something will have inevitably changed. If you’re feeling brave, check out this cool infographic from Visual Capitalist:

Infographic Bitcoin Ethereum Comparison

How 10 Real Estate Experts Think Bitcoin Will Disrupt the Industry

So now that you have a basic understanding of bitcoin, here’s how 10 real estate industry experts see bitcoin transforming the real estate market in the coming years.

1. Jason Penner, Douglas Elliman, New York City

Jason Penner Douglas Elliman

“A brief way that I explain bitcoin is, it’s as if technology and finance had a baby. Humans survived for hundreds of thousands of years (if not longer) without money. Money is a relatively new concept to humans, and to think that the current financial system is the peak evolution of money and the storage of value is nothing short of naive. Bitcoin and cryptocurrencies represent that next step in the evolution of storing and exchanging value.”

2. Jim Merrion, Coldwell Banker Realty, Colorado

Jim Merrion Coldwell Banker Realty

“The real estate industry’s appetite for using bitcoin to purchase real estate seems to be coming back in a big way in 2021! Being a Realtor who has helped a buyer purchase developable land using bitcoin converted to cash and marketed several listings willing to accept bitcoin as payment, bitcoin investors are finding me online and reaching out with plans to purchase property using these funds in 2021.

 

“Currently, I have one bitcoin investor looking to buy a 35+ acre ranch property and have spoken to several others over the past few months about how the process could successfully work for them.

 

“And Smart Contracts are starting to be seriously considered by at least one title company in Colorado now. With their inherent security and ability to prevent wire fraud, there is a lot of motivation by the transaction processing entities to find new technology solutions that reduce their risk and enhance the efficiency of the closing process.”

3. Tristan Ahumada, Realtor, Speaker & Co-founder of LabCoatAgents

Tristan Ahumada LabCoatAgents

“So far, most of the bitcoin transactions in the real estate world have had only one party dealing in cryptocurrency and the other one doing it the traditional way. The deal can still take place, but the cryptocurrency has to be turned into cash. I do envision cryptocurrency catching on more, but our society has to start using the bitcoin/blockchain technology more. I do see it becoming normalized—it’s just a matter of people getting used to it. It is just as easy as people using credit cards and Apple pay.

“For now, there are companies like BitPay and some other international banks that allow people to convert their bitcoin into cash.”

4. Jason Shepherd, Co-founder of Atlas Real Estate Group

Jason Shepherd Atlas Real Estate Group

“The disruption in real estate will come from the blockchain technology (distributed ledger) and smart contracts like those found on the Ethereum platform. The escrow process will be replaced by a smart contract, using code as the intermediary to distribute earnest money. Imagine a real estate transaction where all of our inspection and due diligence information can be found in one public ledger on the blockchain—ownership, encumbrances, repair receipts, improvements, liens—all viewable and indisputable on the distributed ledger.

 

“This transparency reduces the need for title insurance and truncates the purchase timeline for a home from 30 days to a few days. Title and escrow will be the first layer of disruption, but increasing transparency will allow the public to access more information and be less reliant on real estate brokers. This won’t replace brokers, but it will warrant a repricing for what brokers can charge their clients.”

5. John Gilbert, Co-founder/Director Prime-EX

John Gilbert Prime EX

“The acceptance of cryptocurrencies into mainstream investment portfolios equals more buyers this year for major ticket items, such as houses. Many purchases are coming from people who have never purchased real estate before. This equals more sales for real estate agents who are willing to learn about cryptocurrencies, more sales for real estate agents who are willing to market to people who are invested in cryptocurrencies, and more sales for real estate agents who are willing to specialize in educating their home sellers on how to accept cryptocurrencies as payment in kind for their real estate.

 

“The cryptocurrency genie will not be put back into the bottle.”

6. Avani Desai, CEO & Co-founder of MyCryptoAlert

Avani Desai MyCryptoAlert

“Crypto will allow a homebuyer to gather funds quickly, sometimes in less than 60 seconds, and into the hands of the seller, instantaneously. All of this is done on the blockchain, so the transaction is recorded in an open distributed ledger using encryption techniques that ensure that a transaction was complete and accurate and can never be retroactively changed. I believe what brokers and agents are going to see aside from transactions being done with crypto are technology platforms that are built on the blockchain. Therefore, understanding the two most known and built on blockchains that are out there—the bitcoin blockchain and the Ethereum blockchain—is crucial. Agents will see everything from smart contracts executed, to title storage, to international money exchanges.”

7. Alan Lewis, Chief Investment Officer at DiversyFund

Alan Lewis DiversyFund

“We are already seeing real estate sellers finding creative ways to accept crypto from a buyer in order to expand the pool of potential purchasers. As a real estate investment platform, our online customers have prompted us to look into accepting crypto and also launch an Initial Coin Offering (ICO) that is backed by real estate assets, which creates a perfect marriage of old and new asset classes.”

8. Sheryl Lowe, Broker Associate, Kuper Sotheby’s International Realty

Sheryl Lowe Kuper Sotheby's International Realty

“In all of my 33 years of closing transactions, I honestly couldn’t have expected something so unique to go so smoothly. In a matter of 10 minutes, the bitcoin was changed to U.S. dollars and the deal was done!

 

“Of course, it helped to have the right team behind this—Laura Pagnozzi of Independence Title was a key player in keeping everything together.”

9. Hyun Lee, Communications & Marketing Director, Mothership Foundation

Hyun Lee Mothership Foundation

“With Ethereum, there are companies that wish to build smart contracts around existing services, including real estate. This allows for a fully digital real estate transaction. In fact, the first real estate transaction using only the Ethereum blockchain already happened. Michael Arrington, co-founder of TechCrunch, recently purchased a Kiev studio apartment for $60,000 via smart contracts on the Ethereum blockchain.

 

“In this case, the smart contract allowed the sale of the property. If this template was to be copied and applied to all future sales, I would imagine real estate agents would need to pick up on using smart contracts.”

10. Dr. Lucas Lu, Founder/CEO, 5miles

Dr. Lucas Lu 5miles

“Fractional ownership. The high cost of home ownership in more and more markets has priced out many potential homebuyers, leaving them on the sidelines.

 

“Just as USD can be bought and sold in fractions, in a similar way the number of whole bitcoins (BTCs), for example, has a limit and can be used fractionally. This means that cryptocurrency holders can see the value of their currency rise, but also can pool their crypto resources with owners to purchase properties collectively, as investments.”

Bottom Line

No matter how much you fight it, bitcoin and the blockchain technology it runs on will revolutionize the real estate industry. Since your buyers and sellers will be curious about the potential of bitcoin for their transactions, agents need to have a basic understanding of how this technology works. This will not only allow them to represent their clients better, but also help attract and retain tech-savvy buyers and sellers, and create a buzz with marketing.

About Emile L'Eplattenier

As Managing Editor for The Close, Emile is responsible for the editorial direction of the site’s real estate content as well as curating actionable insights from top producing agents and brokerages from across the country. A licensed New York City Real Estate Agent and veteran of the marketing department at Tishman Speyer, Emile has been involved in every aspect of residential real estate from branding new developments to pre-war rentals and resales. Emile also regularly provides market insights and commentary for publications like The New York Times, Realtor.com, Apartment Therapy, Fox News, Yahoo, and US News & World Report. When he’s not writing or editing, Emile enjoys collecting vintage furniture and playing his guitar.

What Zillow has to Say About Why You Should Use a Realtor to Sell Your Home

Why Use an Agent?

According to Zillow’s Group Consumer Housing Trends Report, 89 percent of sellers list their home with a real estate agent. The sellers listed a strong sales track record, local market knowledge, trustworthiness, responsiveness, and a good reputation in the community as the most important attributes in a top agent.

A great Realtor will make a big difference in all aspects of the selling experience, from your profits to keeping your stress level under control.

Read on to explore what else Zillow Palm Springs has to say about selling your home.

What is the standard commission for a real estate agent?

Real estate agents work on a commission basis, making a percentage of the sale or purchase price of the home their client is buying or selling. Typically, as a seller, you’ll pay 6 percent of the sale price, with half of the total serving as the buyer’s agent’s commission.

What is the difference between a listing agent and a buyers agent?

Real estate agents work on a commission basis, making a percentage of the sale or purchase price of the home their client is buying or selling. Typically, as a seller, you’ll pay 6 percent of the sale price, with half of the total serving as the buyer’s agent’s commission.

What is the difference between a listing agent and a buyers agent?

The listing agent, also known as a sellers agent, works for the seller to help them sell their house, from listing to closing. The buyers agent works for the buyer, guiding them through the process of finding a home they love, into negotiations, and all the way through closing.

Benefits of using a listing agent

You might ask yourself, “Why use a real estate agent to sell my home?” There are a number of services and plenty of expertise a real estate agent can provide, so it’s important for each seller to take a look at the list of benefits and decide if an agent is worth the expense.

1. Real estate agents provide local housing market expertise

  • They have access to a comprehensive list of comparable homes and understand the value of homes in your area.
  • Taking into consideration the current market conditions, they can strategize ways to craft the optimal selling approach, with the goal of earning the highest possible return on your home.
  • They can guide you to setting the right price for your home, one that will allow you to both pocket as much money as you can while selling in a timely manner.
  • They understand local housing codes and can point out any red flags on your property that buyers (and their home inspectors) will find.
  • They can recommend the specific home improvements that matter most to buyers in your area.
  • In our case, we know the developments inside and out and will share with you the good, the bad, and the ugly.

2. Real estate agents market your listing

  • They can provide recommendations for staging your home.
  • They can hire a professional photographer to take great listing photos.
  • Creating an enticing listing description of a property is an art form, and a skilled agent can call out features local buyers are looking for.
  • They list your property on the MLS and online real estate sites like Zillow. In fact, agents have access to more listing outlets than sellers who are listing on their own.
  • They host open houses and showings, physically showing your home to buyers.
  • They serve as a buffer between you and all potential buyers, fielding calls, answering questions, and scheduling showings.

3. Real estate agents network with other agents to increase buyer interest

  • They may show your home to an agent-only crowd to increase buzz.
  • They talk to other agents about your home, positioning it as a match for their buyers.
  • Homes sold by agents are typically more appealing to buyers agents, as they know they’ll get a commission on the sale.

4. Real estate agents handle your negotiations

  • They vet all potential buyers, identifying the serious offers.
  • They skillfully work with the buyer’s agent to get you an offer that meets your needs in terms of price, timing, and repairs.
  • They help you make smart decisions on negotiating counteroffers.

5. Real estate agents ease the selling process

  • Selling a home comes with a lot of paperwork, and your real estate agent will handle it all.
  • Professional real estate agents keep an eye out for deal loopholes and unusual requests, and read all the fine print.
  • In a multiple-offer situation, they’ll help you identify the pros and cons of each offer, making your decision easier.
  • They’ll recommend when you should counteroffer and when you should accept the deal.

 

How To Make the Downsizing Process Stress-Free for Seniors

I recently received this email from Mike Longsdon at ElderFreedom.net:

Hi Sheri!

Recently, my wife's parents moved from Sacramento to San Diego to be closer to us. My father-in-law has had some health issues lately and my mother-in-law was struggling to keep up with him while also maintaining their home.

The first step, of course, was selling their old home. It was full of years of memories, but also a lot of junk. While my mother-in-law wanted to keep most of it, after some tough choices and a big yard sale, she has settled into their new San Diego condo with less stuff but more peace of mind.

Throughout the process, I've learned a lot about what goes into helping senior parents downsize. I'd love to share what I've learned on your blog.

I told him we'd be happy to share his information...

Stress-Free Downsizing for Seniors

Moving is physically draining at any age, but for seniors it can be even more challenging when the move involves downsizing into a smaller home. Many seniors have physical conditions such as limited mobility or brittle bones that could hinder the moving process. Particularly when downsizing, moving can be emotionaly taxing for older adults because they're having to leave a long-time home while also giving up treasured items. In order to ensure your loved one has a stress-free move, it is wise to plan ahead. Here's a great checklist that can help with the planning, and here are a few tips to help make their transition a smooth one.

Delegate a Moving Team

Due to the fragile nature of most older adults, it would be best to hire a moving company to help with the moving of furniture and boxes. Organizations like the National Association of Senior Move Managers specialize in helping older adults and their families with the physical and emotional process of downsizing into a new residence. Through the NASMM you will be assigned a Senior Move Manager who will help your loved one with their move from start to finish. The Senior Move manager will construct a customised floor plan for the new home so your senior will be able to visualize where their belongings will fit. They will also supervise the professional packing of the old residence and unpack and setup the new home so that it is turnkey ready. Any old or unwanted belongings will be arranged for profitable disposal through estate sales, consignment, or buyout. Making the decision to hire a Senior Move Manager truly takes all of the stress out of the moving process and provides a one-stop-shop solution.

Sort Through Items

The biggest issue seniors will face when downsizing is having to get rid of some of their stuff in order to live comfortably in their new, smaller home. What you see as stuff your loved one sees as a lifetime of memories. As you go room by room, avoid phrasing questions in a yes-no format, as it creates reluctance. For example, instead of asking what pots and pans your loved one would like to keep, simply say, "I've got your best frying pan, two cooking pots, and your large crockpot. Does that sound okay?" Although you aren't necessarily making the decision for them, you are easing them in the right direction by removing some of the pressure. Encourage them to keep their focus on the most-used items.

If there are items that are to be gifted to family members or friends, suggest that they go ahead and gift them. For items that your senior can't bare to part with despite not having room, take photos of the items that you are getting rid of to put in a memory scrapbook or use self-storage.

Pack the Essentials

To make sure the arrival at the new home goes smoothly, pack a bag with all of your senior's immediate needs such as clothes, medications, eyewear, and toiletries. Keep this bag in an easy-to-access place so they won't have any trouble finding what they need. Clutter and disfunction will only confuse your senior and make them more resistant so it is best to think ahead and have everything they need at their disposal. If they have any medical equipment or special supplies, work closely with the movers or family members to make sure everything is accessible and undamaged during the move.

Make the New Place Feel Like Home

The most important thing you can do in their new place of residence is to make it as comfortable and safe as possible. Recognition is very important when you are trying to help a senior embrace a new living environment so try to keep familiar pieces in their view. Decorate the walls with their favorite portraits and drape their favorite blanket over the arm of the couch. The more the new place looks like home, the easier the emotional transition will be for them.

Although you cannot predict everything that comes with the moving process, the best thing you can do is be prepared with help and have patience and compassion for your loved one. The downsizing process will be difficult for them. However, you can help make it less stressful and encourage them to look forward to what lies ahead!

ElderFreedom.net  
info(at)elderfreedom(dotted)net

Going The Extra Mile For Our Home Sellers

Our Sheri Dettman & Associates team just completed a sales transaction for one of our Palm Springs area home seller clients, and frankly, it was more challenging that most. Looking back on this sale though the result was what counted.

Personally, I Liked This Home A Lot

I liked this home from day one. The first challenge though was the home had been and investment property with renters living there. When the renters moved out, the furnishings moved out too, and the home looked, well it looked rather empty.

Our sellers did their best in having the home painted and added a few pieces of furnishings and staging items. Our marketing team created their video tour, magazine quality photos, and we launched their marketing campaign. But months later we only had received several lowball offers.

So after a number of months on the market, I suggested bringing in additional furniture and staging props (like towels, plants and table settings). The owners did a great job of restaging of their home. Our marketing team re-created their video and property photos, and we started to get some good offers on the home. Yes!

Offer Accepted!

In time, we presented a reasonable offer to our sellers, and they accepted the offer. We opened an escrow account, and this transaction was moving along just fine. Then, at the 11th hour, the buyers financing fell apart, and we went back to square one. Our sellers at this point were feeling a bit crushed.

Another Offer Accepted

Here’s where being very busy and successful comes into play. We’re working with over 1,000 active buyer clients in various stages of the home buying process. Some are ready as soon as they find a property, others next week, next month or next year. But we stay in touch. I let our team know that this home was back on the market. Everyone reached out to their buyer clients, and with 24 hours one of our team members brought a new offer to our sellers and the property closed in 14-days.

We Get Email

Just this week I received this nice email message from one of the sellers:

“Hi Sheri! I wanted to first thank you for all that you and your staff have done over the past year to sell our house! What an amazing find I came across last year when I decided to Google La Quinta realtors and found Sheri Dettman & Associates.

Each and every step along the way, you and your team were professional, courteous and patient with questions that arose from curious minds. Let me just say that what we experienced explains your amazing success. Congratulations on your dedication and perseverance.

Secondly, we want to thank you for the Williams-Sonoma gift card. This is very thoughtful of you and much appreciated! How perfect to be able to remember your benchmark service often; when we are in the kitchen preparing a favorite dish.

Thank you again for the outstanding service and the opportunity working with you and your team as a buyer.”

Sincerely, Richard K.

Palm Springs Real Estate Market Update

Sorry About Our Warm Palm Springs Weather This Week!

Our Palm Springs weather this week is one major reason so many people choose to spend part of or all winter here and to invest in Palm Springs Real Estate. My husband Bill took the photo above just yesterday at Rancho La Quinta Country Club.

Daily sunshine this week, with high temperatures averaging about 82º F (27.7 º F) are certainly being enjoyed by locals and visitors alike. Seeing people enjoying our Palm Springs area golf courses, tennis courts, bike paths and of course thousands of pools testament to our sunny days.

As you can imagine, we have clients that have primary homes and businesses located throughout the United States and Canada. And over the last few weeks I’ve been getting tons of weather updates from many wet, cold and snowy parts of North America. Several of these clients have recently purchased Palm Springs area homes and are looking forward to returning to the desert later this month.

To Warm For Canadians?

Just yesterday, Carol, one of my Canadian homebuyers at Hideaway Golf Club in La Quinta was telling me that she’d prefer cooler weather. She'd prefer our February temps to be in the 70’s rather than the low to mid 80’s. I’m curious. Do other Canadian’s feel the same way or are you good to go with the 80’s?

How’s The Palm Springs Real Estate Market?

Personally, our Sheri Dettman & Associates team of specialists is busy. Our 2014 sales were up about sixteen percent over the previous year, and we are forecasting double-digit growth again this year. As we examine our local golf and country club community sales trends each month, we again see that Palm Springs real estate is local. And when I say local, I’m talking about right down to the neighborhood level.

Keep in mind that the national and even local news outlets usually report Palm Springs real estate sales on a city-by-city comparison level. They also reference the median priced home. But if you’re buying or selling in a gated luxury golf or country club community that information often has little or no bearing.

Before Buying Or Selling, Information Is Knowledge

Information is knowledge. And our goal is to help our buyer and seller clients be some of the best-informed buyers and sellers in the Palm Springs real estate market. A little extra knowledge can often result in a smoother and more profitable real estate transaction.

For our homebuyer clients, we develop community-by-community proprietary sales data down to a micro level before you make an offer. For our home seller clients, our community data can help price your home correctly while your home’s competition could be priced over or worse, under the market price.

Why Not Contact Sheri Dettman Today!

If you're considering buying or selling a Palm Springs area home or luxury condo, then contacting Sheri Dettman is a good thing. Why not do so today?

3 More Homes Recently Sold At PGA West, La Quinta

55497 Medallist, Pga West - Priced At $1,385,000

30 PGA West Sales Year-To-Date by Sheri Dettman & Associates

Our Sheri Dettman & Associates team recently sold three additional PGA West La Quinta homes. That brings our 2014 year-to-date total to 30 PGA West sales. More importantly for PGA West home sellers, our small team of specialists found 23 buyers for those 30 homes. No other La Quinta area agent or team came close to that success ratio.

Buyers and sellers of PGA West homes are trusting Sheri Dettman & Associates in growing numbers as our 2014 sales at PGA West are up 154% over 2013. We have now completed a total of 93 La Quinta area sales transactions so far this year and are currently working with just over 1,000 active buyer clients.

80860 Hermitage, Pga West - Priced At $779,000

54447 Riviera, Pga West - Priced At $613,000

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