This subject was introduced to me the other day, and the more I thought about it, the more concerned I became, as a realtor.
Over the years, the Internet has helped many lonely hearts find mates. Now the Web's matchmaking skills are being put to use in a much different way: setting up homeowners who are looking to swap their homes.
In an increasingly unfriendly real-estate environment marked by a glut of unsold houses and tightening lending standards, home-swapping Web sites are offering to help desperate sellers unload their homes. These sites aim to match up two sellers based on their requested criteria, say, the number of bedrooms each home has or whether it's located in a specific school district. The homeowners then arrange to trade properties and take over each other's mortgages. For those looking to move fast or who can't afford to keep up with their monthly mortgage payments, home swapping can seem like an easy fix - but they should proceed with caution.
If you run across one of these sights...I would be interested in your comments.
Thanks,
Ron Largent, The Largent Team Selling Redding Real Estate
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