Challenging Market Leads to House Swapping

ATLANTA -- Telmo Bermeo wants to downsize.

He and his family are trying to sell their five bedroom home in Sandy Springs. For three months, it sat on the market. Two people looked, no one made an offer.

Now, the Bermeos are letting their house play the dating game.

"It's as if you were looking for boyfriend girlfriend on the internet," says Bermeo "If it's not a win-win situation for both parties, it's not gonna work."

Dozens of people all over metro-Atlanta now have their property listed for a house swap. There are several websites, including www.goswap.org, where you can find interested swappers.

The idea is to find the home you want, contact the sellers and, if it all works out, you buy their home, they buys yours.

Telmo Bermeo believes it will help him avoid a lot of headaches since you find a new home and a buyer for yours at the same time. There's also no need for a real estate agent or their fees.

Once there's a match, the two parties pay off their loans, get new financing, then meet for a double closing. Those who've done it say it's best to involve a real estate attorney.

The Bermeos have tried the house swapping route for two weeks now.

"I got at least ten people interested," says Bermeo. "No one has come forward and done a contract, but at least I have some people that are looking."

The Bermeo's home comes complete with an old fashioned tire swing out front, that sways in a brand new housing market.