Bitchin' Blog Posts
Win a House Writing Contest
by SB Sarah | June 08, 2008 | Sunday at 5:42 pm | 12 CommentsA 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.
Kate said on 06.08.08 at 07:27 PM
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.
Julie Leto said on 06.08.08 at 08:19 PM
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.
JaimeK said on 06.08.08 at 08:41 PM
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??
Kate said on 06.08.08 at 09:45 PM
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.
EJ McKenna said on 06.09.08 at 10:23 AM
Wow, that’s some contest.
Not sure what made my jaw drop first - the views or the entry price!
ev said on 06.09.08 at 02:23 PM
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??
Gennita Low said on 06.09.08 at 05:05 PM
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. ;-)
Cheyenne McCray said on 06.09.08 at 05:36 PM
Interesting. Now *that* would be quite a writer’s income…
spinsterwitch said on 06.09.08 at 06:05 PM
Eek! I am having trouble with the price of gas. Save me from capital gains!
amy lane said on 06.09.08 at 07:22 PM
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…
Tina said on 06.09.08 at 08:53 PM
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.
Kat Wilson said on 06.10.08 at 07:15 AM
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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