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Real Estate
The Real Estate Adviser |
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August 26, 2004
The Real Estate Adviser: Raffling a house can benefit seller, nonprofits
By TOM KELLY
Special to the Journal
Special to the Journal
The challenge of purchasing a home in the nation's most expensive markets has bolstered nonprofits while enhancing the dreams of arts patrons and consumers.
The Santa Barbara Contemporary Arts Forum (SBCAF) has sold more than 14,000 tickets at $150 a pop in its Santa Barbara Million Dollar Home Raffle. The winner, to be announced Labor Day Weekend, can choose between a 1927 Spanish style home valued at $1.25 million or $1 million in cash. More than 180 cash prizes also will be offered and no more than 18,000 tickets will be sold, according to event organizers.
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