Can I Really Do That?
September 25th, 2008 categories: Market Trends, Relocating
During times of crisis, especially those crisis when we’re trying to solve a problem, we’ve been told time and time again, “You’ve got to think outside the box. In times like these, you have to look at things differently, and not approach things routinely.”
To say that today’s housing market is in “dire straights”, is probably an understatement. The good news is, while the government is attempting to formulate some sort of plan of relief for distressed homeowners, some private individuals have taken matters into their own hands by using innovative marketing techniques to sell their homes.
In March of this year, a Maryland couple, after unsuccessfully struggling to sell their home through the traditional “list with an agent” method, unloaded their home through a raffle. Yep, you heard it right, a RAFFLE. While in most states it is illegal to raffle off a home, allowances are made in some states if the homeowner is partnering with a nonprofit organization. In these cases, the homeowner is restricted from making a profit on the “sale”. All profits beyond the break even point or appraisal price are kept by the nonprofit.
Before you get the idea that raffling your house off is a great idea, take the time to investigate the many hurdles needed to make it happen. Many have tried it and found the red tape run around more than they could handle. It isn’t easy, but, if your state allows it, it may be a struggle you’re willing to take take on. If so, you can get more details at usahomeraffle.com
Another alternative is the option of swapping homes. While this practice isn’t commonplace, it has seen an increase in use over the past couple of years. Although it sounds simple enough, like many things, the devil’s in the details. The most important step you’ll take is to establish a list of “wants” in the home you’re looking for, including the location you’d like to move to. While it’s rare that you’ll find an exact value to value match, there are many online service agencies that facilitate this process.
Some of these include:
GoSwap.org
Home Trade Nation http://www.hometradenationwide.com/
Online House Trading http://www.onlinehousetrading.com/
Try Swapping It http://www.myhouse4trade.com/
Domuswap http://www.domuswap.com/
Each of these online sources are deisgned to assist those who are looking to trade or swap homes instead of selling them the traditional way. For those with a bit more experience at online trading, there’s always Ebay or Craig’s List as well.
As the Greek philosopher Plato once said, “Necessity is the mother of invention.” With the dramatic slow down in the market, listing and selling a home isn’t as easy as it once was. As a result, some would be sellers have looked for other ways to “move” their property. While raffling off or swapping a home may not be the conventional method, it can, in the current environment, achieve the objective of getting rid of a home. And, if that’s the case, perhaps we need to consider the exception instead of the rule when making the decision to market a home.
