In theory, you could do so now if you were in a bind with taxes and wanted to create a capital loss to detect from your taxes. I'm not sure how well that would work in practice though, since you don't see people selling houses for a fiat dollar anymore.
I would not trade in my house for just 1 bitcoin because that is asking for trouble I do not believe that 1 bitcoin is going to be worth as much as a house.
That is crazy and I am sure that I would never do it not even for 2 bitcoin.