In today's market everyone needs a niche...so what about swapping? That's right...let's just trade property. It's a great idea if you are wanting to reinvest and not just cash our or if you are looking to make a change one way or the other. This is something we will be adding to www.InvestSmarter.com in the coming months and would wecome everyone to provide their feedback in the forum section. But take some time to read below. Very interesting information:
Daily Real Estate News June 30, 2008Can't Find a Buyer? Then Find a Swapper Several Web sites have sprung up to connect owners interested in house swapping ... not just for a vacation, but for good.The concept is similar to a conventional sale. Both parties need to agree on the value of their properties and secure new mortgages. Any difference in value is paid either in cash or by wrapping it into the new mortgage.Some of the Web sites charge a small fee. Others are free to users. "It's like a dating service for home sellers," says Greg Holt, CEO and co-owner of Pad4Pad. "We're bringing people together."Site managers urge swappers to use an appraiser, home inspector, and either an attorney or a real estate professional to shepherd them through the closing process. Some real estate professionals are charging flat fees to manage swaps, Holt says.
Source: Los Angeles Times, Frank Nelson (06/29/2008)
For more information on what is for sale or available in Panama City Beach and Panama City Florida go to the new site of www.panama-city-beach-florida-real-estate.com and see what's out there. If you want to search for a few condominiums in today's market check out www.panama-city-beach-florida-condominiums.com for more information and what is floating around for sale today! Hey a trade might just be the way to go!
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