What a deal! You could acquire ownership of a new luxury beach home in Oxnard, California, adjacent to Channel Islands Harbor, for the price of $150. Or, on the other coast, you might own a 2,400-square-foot townhouse residence in Vero Beach, Florida (north of Palm Beach), for $20.
These are raffle opportunities â€" a growing trend for fund raisers, using a home to lure ticket buyers. In these cases, the ticket holders not only have a chance at picking up a very valuable residential property for a super-low cost, but also help support a Boys and Girls Club at the same time. It’s a fund-raising technique that’s working for an increasing number of nonprofit organizations. A home is certainly the most desired of all material possessions.
The home raffle in Oxnard benefits the Boys and Girls Club of Greater Oxnard and Port Hueneme. The home, now under construction, is in a new community being developed by D.R. Horton, Inc., the nation’s largest home building firm. In Vero Beach, Florida, raffle ticket drawing is scheduled for December 15. This project benefits the Boys and Girls Club of Indian River County, Florida, one of the most recently formed clubs in that state.
The townhouse is being provided by the builder to the club at about $200,000, covering the builder’s cost. A minimum of 20,000 tickets must be sold to acquire the property. If ticket sales do not reach that volume, a $50,000 award will be given to the holder of the winning ticket. Other prizes will also be awarded.
Copyright 2006 50year-mortgages.com
Syndicated real estate columnist and feature writer
Mortgage / Real Estate Update Report
www.50year-mortgages.com
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