I've seen people do it, but typically they know each other and trust each other enough to work out the details or both have enough cash to compensate the other for the difference.
If you and someone else found properties you wished to trade, you'd just pay whatever transfer tax Texas imposes, plus some money (probably under $1,000) for legal fees. Since it'd be like you and the trader doing a for sale by owner, you wouldn't have a real estate commission. If you traded, you wouldn't have all the junk fees that accompany mortgages. You and the trader would likely want an appraisal, though, so that'd cost a few hundred dollars per house.
But it won't happen.
First, it's not just an issue of you finding someone who wants your home. You have to want theirs. So even if there were someone in town who wanted a water front lot, you'd have to like their place and they'd have to like yours. Consider that often it takes 25-50 showings to get an offer on a property. So if you were selling your place, you might have, let's say, 30 people look at it before getting an offer. What that means here is that 1 in 30 people would want your home. And it's the same with the home in town. Maybe 1 in 30 would want that one. So even if you found someone in town who wanted a waterfront lot, the odds are 1 in 900 (30 x 30) that both of you would like each other's homes.
Second problem deals with the value of the homes and with the equity in them. Let's say both homes are worth the same--$150,000. But one was bought about 6 years ago and has almost no equity. The other was bought 15 years ago and has $30,000 equity. Well, the person with the home with equity isn't going to just trade. If he did, he'd be giving up $30,000 in equity. So, to make the trade work, the one with the equity would be willing to trade only if the other person also paid $30,000. It gets even more complicated if the houses aren't worth the same. Would someone in town be willing to trade a $200,000 home for yours that's worth only $150,000? Not unless you chipped in $50,000.
So there are really a lot of hurdles to trading homes. The two big ones are finding someone willing to trade, and then equalizing the values and the equity.
If you're serious about moving back into town, the best thing to do would be to sell your home. Then buy one in town.
Hope that helps.