House Swapping a Slow Market Remedy?
CBNNews.com
February 21, 2008
CBNNews.com - The slow housing market has led to a creative technique for homeowners desperate to sell.
With help from the Internet, they're opting to swap houses with others -- even from opposite sides of the country -- who are having trouble selling their homes.
If the homes are of equal value, then it's an even trade.
If the homes are of different value, then cash is paid to make up the difference.
While it's pretty simple, swappers who've done it say the down side is that they couldn't be as picky as they could have been in a traditional transaction.
But despite that - swappers who've done it say it worked out well.
"You know there's somebody that wants to make an exchange. Go back to buying a new car. You trade your car, don't you?" house swapper Allen Sawtelle said.
There are about 13 percent more homes on the market now than there were a year ago.
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