DON'T SWAP HOMES HERE!

This week I am in a land where home exchangers (should) fear to tread. Las Vegas! And I am not just staying in a hotel. I am doing so voluntarily.


Why is a home swap in Vegas a bad bet? (Sorry, couldn't resist!)


LIARS' POKER

Real estate speculators in Las Vegas have been upping the ante for over a decade.


Jobs led to housing demand. A building boom was followed by waves of refinancing as home owners gambled that their equity would keep rising. It didn't. Now Las Vegas is among the top foreclosure capitols.


DON'T SWAP HOMES IN A GHOST TOWN

The famous Las Vegas strip is still lively. A few miles away from the casinos you can find housing developments that seem like modern Wild West ghost towns.


DUE DILIGENCE

Don't just make sure the home you're considering for a swap isn't on the market. Check out the foreclosure rate for the entire neighborhood via a quick search for key words like the town or neighborhood and the word "foreclosure".


VEGAS IS A PRIME HOME EXCHANGE DESTINATION!

On the other hand, Vegas can be a home swap paradise. More info to come...


If someone is leading "distressed properties bus tours" in the proposed swap town, look elsewhere for a vacation exchange.