Home Swaps in Slow Markets Gaining Favor For a Select Few
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As the housing market becomes stagnant in parts of the country and buyers are nearly impossible to find, home sellers are becoming more inventive. Home swaps are one way sellers are trying to move their properties and get the homes they desires. Typically a home swap encompasses two owners swapping their properties and one of these owners cutting a check to cover the difference in property values. They work in a slow market when their are few traditional buyers and a glut of sellers.
Sellers typically are looking for another home while they are selling and if they can find someone selling in their target market who is also looking to buy in their present market a deal might happen.
But lets be honest, these deals are not easy to bird dog or find. You will need to find someone to buy your present home at the same time as the seller of the home you like is willing to meet all of your criteria and their own. That is like catching lighting in a bottle, it is conceivable it can happen but not likely.
However, if you are a seller in a slow market it does make sense to try every avenue, and home swaps do fit into the every avenue category.
A tough real estate market that has seen homes languish with for-sale signs in their yards has pushed some Michigan homeowners to try to swap their residences.
Home swaps more typically are used by vacationers, who arrange to temporarily exchange homes. But owners looking for bigger — or even smaller homes — are trying to set up permanent swaps, The Detroit News reported Saturday.
Rob and Kelli Clifton want to swap their three-bedroom ranch on Lake Louise in Ortonville, about 37 miles northwest of Detroit, for a larger home near good schools. The home offers with 55 feet of private shoreline, a big backyard and a new kitchen. via MLive.com
It probably is a really good time to buy real estate - monthly payments are about equal to market rents ...
The part about the inventory is right on but in my area they are mostly low end and beat up ...
I worked for this man, he is a great con man and has done this in more than States then ...
You're right. If you come from Central Jersey (as the Boss and I do), you go to Florida at some ...
Maybe it was kryptonite...
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I couldn't agree more.
The newspaper has always "stuck" it to the real estate agent with rates that were much higher ...
By the way, homeowners trying to get short sale approval should be aware that lenders are comparing the initial loan ...
Ouch! Thankfully I haven't come across anything like that yet. We normally don't have situations like that in ...
well, the guy was here illegally.
serves him right. 
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Comment by Lew Weinstein on 2 July 2007:
My wife and I have recently retired, and we have developed what our friends tell us is a very unique approach to retirement travel, using a property in the south of France and home exchange to expand our travel opportunities. Our experiences, joys, problems, and many hints (travel technology, finances abroad, healthcare insurance, etc.) can be found at our blog …
http://www.patandlewtravel.wordpress.com.
We welcome your comments and input.
LEW WEINSTEIN