I have been listening to all the buzz about the cryptocurrencies lately. While I sat with some colleagues a few days ago this was a major topic. While it is true that Bitcoin has shot to meteoric heights this year, so far, it's hard to tell if there is value or just hocus pocus. It was scary to hear how little is really understood by folks. Is this an investment or a gamble? When the price goes up is it because there is some new product, discovery or patent awarded? NO!
This is a classic rise in price based entirely on what I call the greater fool theory. I see it in real estate often too. The so called wholesalers who get properties under contract with long feasibility periods only trying to flip the contract for a profit. Without someone willing to pay more than you are paying there is not value to the contract that will undoubtedly be terminated within the feasibility period.
Bitcoin has no real value in it's self. This was made up from whole cloth as a way for people to have some "money" held outside the normal banking systems. Some saw and used it to launder money while others used it for blackmail. The value is what the next fool will pay. As long as there is another fool paying even more then it will go up I suppose. When this current trend fails I fear that there will be a catastrophic plunge in price and many will lose their gains or even their principle.
Austin is known as the Music Capital of the World, but it should also
"NY Seller Clients - April 2016
I know Violet from her New York days, so when my wife and I wanted to sell our country home we called Violet for some advice, thinking she may give us some helpful hints- well she did that and more! She told us about her relocation referral department and offered to help us locate an agent; again she went above and beyond, she looked into the agents websites and profiles and made recommendations. We were so happy that she did research on our behalf. She assisted us every step of the way through our process even though we had a NY agent. She even gave us advice on how to stage our house for a quicker sale and it worked!! I wish Violet could be our agent on our new house search, we may have to move to Austin!