Local News

Unable to sell your home? House-swapping may be an option

Posted March 20, 2009 6:37 p.m. EDT
Updated March 21, 2009 7:04 a.m. EDT

— As the housing market continues to struggle, more homeowners are finding creative ways to sell their homes. Some are trading their properties in what local real estate agents call “house swapping.”

More homeowners across the Triangle are getting into the house-trading market, agents say.

“You don’t have to go through the hassle of waiting two years to sell your house,” real estate broker Rick Rogers said.

There are some pitfalls, however. In most cases, both homeowners have to qualify to make each purchase, and both homes must pass inspection.

Also different states have different real estate laws, which can impact cross-state trades.

WRAL has compiled a listing of house swapping Web sites.

Many builders are getting involved in house-swapping as well.

Lyle Gardner builds about a dozen homes each year. One of his custom homes has been on the market for more than a year.

“A lot of the new people that are moving into our market are not able to buy a home today because they’re unable to sell the home where they’re coming from,” Gardner said.

Gardner believes the house-swapping trend offers a “great opportunity for builders as well as families who are potential home buyers.”

Builders and brokers advise getting an agent to help pinpoint potential trades and negotiate the deals.