SFist: Yerba Buena's Dream House Raffle, First Early Bird Drawing Deadline Friday

Rick Wallace

Thu, 16 Apr 2009 20:12:45 -0800

I hope that this raffle is a tremendous success! For anyone interested, there is now a book about home raffles titled, "The Home Raffle Book" and is located at www.thehomerafflebook.com. It's a must read for anyone conducting or participating in a home raffle and includes a sample business plan. Home raffles just may be one solution to the declining housing markets. Hats off to all those who successfully conduct them!

pinkandpearl

Sun, 05 Apr 2009 16:35:57 -0800

We are so in already. My roommates and I all chipped in with a few others and bought two tickets to take advantage of the multiticket drawing. hmmm we would prob have to sell the car if we won it. But were looking for the BIG PAY OUT. Good Luck Everyone!

Belgand

Mon, 30 Mar 2009 12:08:45 -0800

You would also be living in the Sunset.

IZ1

Mon, 30 Mar 2009 10:37:07 -0800

Yes, you would have to pay tax on the value of any prize; in this case on $2.4M which would be around $800,000. Would a bank give you a mortgage for this, I'd assume since you have the asset to back it. But then you have property taxes of $26000 a year.

withak

Mon, 30 Mar 2009 09:22:16 -0800

The winner would have to be insane to not take the cash. Don't you end up owing for taxes about half the value of stuff you win in raffles, game shows, etc.? Can you take out a mortgage on a raffle prize in order to pay the taxes on the prize?

therippa

Sun, 29 Mar 2009 11:34:45 -0800

Located at 5th & Hugo if anyone cares... Google Street View

Leanne Maxwell

Sun, 29 Mar 2009 10:48:32 -0800

Woops, thanks for the heads-up!

greenbean

Sun, 29 Mar 2009 10:41:01 -0800

42,000 square feet? That's some house for $2.4M.