Win a House Writing Contest

A down market for real estate bugging you? Hold a writing contest and give away your house as the prize. Beach front property in Yachats, Oregon, no less.

Note to self: someday, hold a writing contest with a BIG HONKING PRIZE.

Of course, the 1099 of the house value will drive your taxes to levels that will make you wanna hide under a table, and I wonder if such booty is subject to capital gains, but nonetheless. Brilliant idea. And wow, gorgeous town.

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  1. 1
    Kate says:

    Anyone else notice that 3000 entries at $200 apiece = $600,000?

    That said, I’m still entering if I can scrape a spare $200 from somewhere. I’m just that much of a sucker.

  2. 2
    Julie Leto says:

    Kate, that was the whole idea.  They were being investigated for violating some sort of sweepstakes law, but I think they’re going to be okay because this is a game of skill, not chance.  I’m not sure, but I remember hearing about it on NPR a while ago.  It is a beautiful location, that’s for sure.

  3. 3
    JaimeK says:

    Yachats is a beautiful place.  I go to the Oregon coast, in the general area, every year for my birthday….hmm, where is that piggy bank??

  4. 4
    Kate says:

    Yeah, I logically know better but some part of my brain is saying “Just try! You’ve got a chance!” I feel like a total sucker for thinking that way. And really…who’s got a spare $200 sitting around? I know I don’t and I’d be pretty pissed at myself for throwing it away.

  5. 5
    EJ McKenna says:

    Wow, that’s some contest.
    Not sure what made my jaw drop first – the views or the entry price!

  6. 6
    ev says:

    Since I live on the opposite coast it definately wouldn’t be cost effective, that is for sure.

    And I don’t write. Althuogh I could coerce the kid into doing it for me maybe??

  7. 7
    Gennita Low says:

    There are actually several similar “contests” for houses around the country.  There was one recently being held by another author in Central Florida.  $400,000 home with a gorgeous wood interior.  So maybe if one googled, one would find a few similar contests.  Save money for the 1099—capital gains is still 15 percent of your winnings.  ;-)

  8. 8

    Interesting. Now *that* would be quite a writer’s income…

  9. 9

    Eek!  I am having trouble with the price of gas.  Save me from capital gains!

  10. 10
    amy lane says:

    Wow—and ‘lives in a romantic home on the Oregon coast’ sounds SOOOOOOO much better than ‘lives in a suburban crapmansion in the Nor-Cal sprawl’, too…

  11. 11
    Tina says:

    Yachats is gorgeous, and they have absolutely fantastic saltwater taffy. I’m a little biased, though; I’m from Oregon and think we have the best coastlines. But I don’t want to pay the $200 entry fee, and I could never afford the taxes on that house.

    Unless I won the lottery.

  12. 12
    Kat Wilson says:

    Well, if it is any comfort, the current owners are likely to owe a large amount of federal tax on the transaction as well, since their use of their home as a prize disqualifies it from the primary residence gain exclusion, and they will have to pay capital gains taxes on it as well.  Excellent.

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