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$599,000 Wyoming property sale recorded on block chain

https://www.delawarebusinesstimes.com/local-property-on-block-chain/

$599,000 Wyoming property sale recorded on block chain
 Alex Vuocolo  May 3, 2019  block chain, Ethereum, Michael Kelczewski, Sotheby’s International Realty


Michael Kelczewski of Sotheby’s International Realty drew headlines in 2018 for accepting Bitcoins as a form of payment on a $1.75 million property in Newark.

Now the Delaware-based real estate broker is using block chain technology to increase transparency in the property sales process.

Kelczewski is using the open-source block chain network Ethereum to post the details of a $599,000 property sale in Wyoming, Delaware. He says the 4,817-square-foot property is the first on the East Coast to use block chain in this way.

He describes block chain as basically a ledger or piece of paper in which information is recorded and made available to the public. Details recorded on the block chain include list price, offer price and the contract. The entire transaction process is also recorded, from the initial bid to back-and-forth negotiation.

“It’s about instilling confidence and faith in an individual on a transaction,” he said. “It decreases the perception of conflicted interest and increases trust between parties.”

Kelczewski said that in this case block chain wasn’t crucial to making the sale, but he sees it as a first step toward wider adoption.

“I had this idea about six years ago,” said Kelczewski. “It was probably crazy. It’s not so crazy anymore.”

He says the property will settle within the next 30 days.

– Alex Vuocolo

'Bitcoin accepted,' says listing for Chester County house

https://www.msn.com/en-us/news/local/bitcoin-accepted-says-listing-for-chester-county-house/ar-BBNDYST

To try to attract more buyers (especially internationally), real estate agent Michael Kelczewski has listed properties as accepting Bitcoin. Ultimately, his first such listing sold for U.S. dollars.

‘Bitcoin accepted,’ says listing for Chester County house

http://www2.philly.com/philly/business/real_estate/bitcoin-real-estate-transactions-pennsylvania-delaware-20180927.html


REAL ESTATE

‘Bitcoin accepted,’ says listing for Chester County house

by Shannon Rooney, Real Estate Blogger



Earlier this year, real estate agent Michael Kelczewski sold the first property in Delaware advertising it would accept Bitcoin (though the buyer paid in dollars). Now he's offering to accept the cryptocurrency for a Pennsylvania property.

"The real estate industry remains anachronistically ossified," he said via email. "New forms of payment systems serve to provide tremendous growth potential by opening markets, especially internationally."

The four-bedroom Kennett Square home is part of the Longwood Reserve community, situated on a cul de sac. It boasts a great room with cathedral ceilings and a master suite with a fireplace.

Kelczewski said the listing is meant to expand buyers' conceptions of purchasing property.

"The Pennsylvania offering intends to further provide proof of concept while pushing real estate transaction boundaries," he said.

Kelczewski himself owns some of the cryptocurrency. "I hold a few coins within a 'long' position," he said. "I'm not sure if that classifies me as an investor."

The Delaware property was listed at $1.75 million, or roughly 174 Bitcoin. The property ultimately sold in dollars because of property transfer requirements, Kelczewski said. "In Delaware, lawful consideration specifies U.S. dollars," he said.
The Kennett Square home is listed for $744,900. The value of bitcoin fluctuates. On Sept. 25, 1 bitcoin was worth about $6,400 U.S. dollars, so the sale price is the equivalent of about 116 bitcoin.

First property to accept bitcoin in Delaware, $1.75 million home in Newark sold

http://www.delawarebusinesstimes.com/1-75-million-property-accepting-bitcoin-sold/

First property to accept bitcoin in Delaware, $1.75 million home in Newark sold
 Alex Vuocolo  July 10, 2018  0 Comment  bitcoins, Michael Kelczewski, newark, Sotheby’s International Realty


A $1.75 million home at 93 Wedgewood Road in Newark — the first property in Delaware to accept Bitcoins as a form of payment — has sold, according to a Facebook post by Michael Kelczewski, a real estate broker for Sotheby’s International Realty.

The house sits on a 4.2-acre property and boasts amenities such as a five-car garage, backyard pool, wrapping staircase and marbled bathroom.

Frankly, the negative publicity presented by the Mainstream governments/media shouldn't be of a surprise.


The original spirit of Bitcoin empowers individuals while disintermediating traditional financial institutions.

“Bitcoin accepted”: the cure-all for an impossible listing?
An agent in Delaware is betting on crypto to get the job done
        January 27, 2018 11:58AM

https://therealdeal.com/2018/01/27/bitcoin-accepted-the-cure-all-for-an-impossible-listing/



Wondering how to attract international buyers or get eyes on an off-beat listing? Agent Michael A. Kelczewski is betting on Bitcoin to draw them in.

Kelczewski, an agent with Brandywine Fine Properties Sotheby’s International Realty, is handling a $1.75 million listing of more than 4-acre estate in Newark, Delaware and telling potential buyers they can pay in the cryptocurrency, according to the New York Post.

“It’s not easy to purchases houses internationally,” he told local publication, The News Journal of Wilmington. “This is increasing its marketability.”

According to Kelczewski, the ability for a foreign buyer to forgo dealing with middlemen by essentially doing a direct transaction via Bitcoin, in combination with this being one of a handful of U.S. listings to nominally accept Bitcoin puts this 2013 mansion — located in state not known for its luxury market — on the map.

Late last December, the first Bitcoin-only real estate deal closed in Miami The Real Deal reported, however most listings that claim to accept Bitcoin ultimately convert the cryptocurrency into cash.

Kelczewski’s strategy seems to have worked from a publicity standpoint, but whether it will actually sell the 8,375-square-foot house remains to be seen. [NYP] — Erin Hudson

https://www.delawareonline.com/story/news/local/2018/01/24/newark-delaware-realtor-accepts-bitcoin/1058002001/

Suzanne Herel, Special to the News Journal Published 10:00 p.m. ET Jan. 23, 2018 | Updated 10:37 a.m. ET Jan. 24, 2018

This Newark home, located near White Clay Creek State Park, is the first in the state to accept bitcoin as payment. Daniel Sato/The News Journal/WOCHIT

Virtually no luxury nor high-end finish went overlooked in the construction of 93 Wedgewood Road, a sprawling estate built five years ago on 4.2 acres near White Clay Creek State Park in Newark.

Designed by Hillcrest and built by Dewson Construction, the home was a dream for the couple who conceived it, but they now find themselves moving out of the area.

“The finishes are incredibly superb. It’s rare that you see such high-end detail,” said Michael A. Kelczewski, an agent with Brandywine Fine Properties Sotheby’s International Realty, who has listed the home at $1.75 million.

Befitting the property’s modern vibe, Kelczewski is employing a novel feature in its marketing: You can buy it using bitcoin, the nouveau cryptocurrency that enables peer-to-peer transactions without an intermediary.

A single bitcoin's value has ranged from $19,500 to $9,700. At this week’s value, 93 Wedgewood Road would cost about 174 units of the digital asset.

The lure of bitcoin is that it's an international currency and requires no middleman to facilitate a sale.

The gambit may be a long shot, but it also just might nudge an international buyer into the game, Kelczewski said, noting the challenge of finding luxury bidders in and around the Small Wonder that is Delaware.

“It’s not easy to purchases houses internationally,” he said. “This is increasing its marketability.”

Should a bitcoin buyer materialize, Kelczewski is prepared with an attorney who would be able to handle the transaction, which in essence would translate to an all-cash deal.

The first single-family home in the United States reportedly bought with bitcoin was a custom luxury estate in Austin, Texas, which changed hands in September for an undisclosed sum. Previously, a Lake Tahoe, California, community reportedly transacted a $1.6 million land deal in bitcoin.

Regardless of tender, the purchase is striking.

The 8,375-square foot home’s cathedral ceilings and abundant windows invite sunlight to bathe the open floor plan and hardwood floors. There’s a library with built-in shelves, home theater, game room, wet bar, gym and wine cellar. Eco-friendly materials were incorporated wherever possible.

The kitchen is fitted with commercial grade appliances, a center-island sink, and granite countertops.

A wide, wrapping staircase wends to the master suite, featuring an expansive marble bathroom and dual walk-in closets.

And that’s just indoors.

Outside there’s a custom-shaped pool and hot tub, outdoor kitchen with fire pit, a carriage/guest house, and garage that fits five cars.uzanne Herel is a freelance journalist.

93 Wedgewood Road, Newark
ASKING PRICE: $1.75 million

SIZE: 8,375 square feet

LOT: 4.2 acres

ROOMS: Three bedrooms, five bathrooms, two half-baths

GARAGE: Fits five vehicles

BUILT: 2013

NOTEWORTHY: Bitcoin accepted

CONTACT: Michael A. Kelczewski, mkelczewski@bfpsir.com, (302) 654-6500

Suzanne Herel is a freelance journalist.

[2018 1-27-18] Seller puts lavish house on market for $1.74 million

http://www.foxnews.com/real-estate/2018/01/29/seller-puts-lavish-house-on-market-for-1-74-million-but-also-accepts-bitcoin.html


A sprawling Delaware estate could be yours for just 174 units of currency.

The News Journal of Wilmington reports an agent with Brandywine Fine Properties Sotheby's International Realty, Michael A. Kelczewski, is offering the chance to purchase the 4.2-acre (1.7-hectare) property with bitcoin, the international cryptocurrency that enables peer-to-peer transactions without a middleman.

The home is listed at $1.75 million. A single bitcoin's value in U.S. dollars has ranged wildly recently, but at this week's value, the house would cost 174 bitcoins.

Kelczewski says he hopes the option will attract international buyers, because find luxury buyers in the area is challenging.

Kelczewski says an attorney would handle the bitcoin transaction, which would essentially translate to an all-cash deal.

Isn't the typical investment position long?

Hasn't the market cap grown by about a billion $ since last week? I am thinking 450-500 range by next Friday.The world is starting to take notice of BTC. The volume on BTCChina has been growing significantly.

You can't always blame poor business on one factor alone.Marketing is a huge aspect of any business.

The address portion should be the same as my blockchain account? Or the private key of  bitcoin?

My question pertains to the Label and Address section of the client. What should be added to the Label section? I have a blockchain wallet currently and am looking for a more stable platform for my coins.Thanks for the posted links; I will be doing some reading this evening.

I am having trouble figuring out some issues with my bitcoin client. Does anyone happen to know of any online tutorials for "Bitcoin" wallet?