Houses for crypto is a growing trend in Bay Area real estate
Santa Rosa homes on sprawling acreage with pools aren’t exactly unique in North Bay real estate, but when the buyer can pay for them in Bitcoin, things get interesting.
The property at 2600 Warrington Road in Santa Rosa offers over 17 acres. It includes a custom-built main home with a wine cellar, an outdoor kitchen, and a pool, as well as a separate and fully equipped one bedroom cottage with an office.
Listing agent Lisa Thomas told SFGATE the decision to offer the home for both $3.3 million cash or Bitcoin came from the seller. “Our client is very knowledgeable about Bitcoin,” she said. “We had to search far and wide to find an escrow and title company who could handle this, but they are starting to move with the times.”
Indeed, the idea of “cash-less” transactions, in which crypto trades hands instead of American dollars is catching on in the Bay Area. Realtor.com just released a list of homes for sale that allow crypto that includes a home in San Francisco. It’s also a national trend, being noticed and supported by large internet mortgage companies like Rocket Mortgage, where buyers can learn about how to buy homes with cryptocurrency.
Thomas said she is unaware of other crypto transactions to date in Sonoma County, but she expects that to change. “I think we will see a lot more of [these transactions],” Thomas said. “Those who hold digital currency need liquidity,” which real estate provides.