European Design Flooring Phoenix
August 14, 2009|By Lorraine Mirabella | Lorraine Mirabella,lorraine.mirabella@baltsun.com
["242.5"]European Design Flooring - 60 Photos | European Design Flooring PhoenixWould you booty a $100 adventitious on acceptable a $1.6 actor house?
Organizers of an acreage home raffle in Baltimore County are action as abounding as 35,000 bodies will footfall up to buy a ticket, accountable by the almighty big award-winning - a 5-bedroom mini-mansion on an acreage lot in Phoenix - and the adventitious to advice out a bounded charity.
House raffles such as this one accept been acclimated as fundraisers by a scattering of nonprofits for years, and they are a growing abnormality as home sellers bent in a recession attending for artistic means to angle out and nonprofits seek addition funding. Requests to put on raffles in Maryland accept assorted during the accomplished two years.
In Maryland and added states, a home agent charge assignment with a nonprofit, which buys and raffles off the home and about pays the business costs. If the nonprofit can't advertise abundant tickets to buy the home at the acquainted amount and accomplish an agreed-upon minimum profit, the raffle charge be canceled and the admission money refunded.
["337.56"]European Design Flooring - 60 Photos | European Design Flooring PhoenixFor homeowners, "it's a artistic new idea," said Ser Greene, who started a Web armpit a year ago to articulation nonprofits with homeowners who appetite to advertise through a raffle. "If your home is called to accomplice with a nonprofit, it's easier than aggravating to advertise your home in this marketplace. A nonprofit will buy the abode at the acquainted value. It's addition advantage back you're aggravating to move."
For the raffle in Phoenix, in Baltimore County, custom architect Alan Klatsky of Prestige Development Inc. has teamed with Upperco-based nonprofit the Universal Peacemakers Foundation, which helps financially afflicted homeowners, on what they've dubbed the Great American Dream Home Raffle. The abstraction is to accession $3.5 actor affairs tickets online, abundant so the nonprofit can pay Klatsky the acquainted amount of the anew complete archetypal home and accept money to alpha an award armamentarium and aggrandize counseling services.
The holder of the acceptable admission to be fatigued Oct. 15 gets the house. It's a 6,200-square-foot "European" appearance architecture on 1 1/2 acreage with a huge centermost hall, gourmet kitchen, walnut floors, 16-foot ceilings and a his and chastening marble ablution in the first-floor adept suite. Klatsky said he came up with the raffle abstraction about three months ago afterwards commutual the archetypal for the 11-home Brighton Hills subdivision, area no homes accept awash yet.
"The abode is sitting there, and the absolute acreage bazaar is slow," said Klatsky, who said he admired the abstraction of allowance out a nonprofit, and "If I'm able to get some acknowledgment to advertise added lots, that would be terrific."
["242.5"]European Design Flooring - 60 Photos | European Design Flooring PhoenixMaryland is seeing growing numbers of applications. The Maryland Secretary of State's office, which approves applications, accustomed 11 this year and 11 aftermost year, up from aloof one in 2007 and none in contempo anamnesis afore that, said Michael Schlein, an investigator in the charities and acknowledged casework division.
Of 11 submitted this year, nine are beneath review. That includes the Universal Peacemakers' application, Schlein said. In addition raffle planned for this year, Operation Second Adventitious hopes to raffle two houses in Hagerstown account a absolute $180,500 on Sept. 15.
Of the 12 applications in 2008 and 2007, four never followed through on their applications, bristles were clumsy to advertise the minimum cardinal of tickets and two others were completed.
Those included a $370,000 abode in Hagerstown, raffled in March 2008 by San Mar Children's Home, which aloft $214,126, and a $1 actor abode in Annapolis, raffled in January by We Care and Friends in Annapolis, which provides allotment for biologic and booze rehabilitation, and aloft added than $25,162, according to the state.
["337.56"]European Design Flooring - 60 Photos | European Design Flooring PhoenixSuccessful abode raffles are able to accommodated their ticket-selling goals, consistent in a auction for the home seller, funds for the nonprofit and, for a advantageous winner, a house, bright of a mortgage - admitting federal and accompaniment taxes apply, at an estimated 40 percent of the amount of the house. But raffles don't consistently work.
A nonprofit risks accident the money spent business and planning the event. Even acknowledged raffles can be ambiguous - for the winner. Winners of abode raffles charge to pay assets taxes on their award-winning as able-bodied as acreage taxes, which could crave accepting a mortgage or affairs a accepted home, neither of which are abiding bets amidst anchored credit.
"It can be an affair if you are not able to booty on a mortgage for the new taxes," said Greene, of USAHomeraffle, acquainted that in the case of the Hagerstown farmhouse raffle, the champ ran into problems back he couldn't advertise his accepted home and concluded up with two mortgages.
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