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A $3,000,000 water-front Fort Lauderdale home for $10? UPDATE

Dennis Norman

Dennis Norman

UPDATE: January 1, 2010

The drawing was held at noon yesterday and teh winner of the 50/50 is Bernard Gross, from California.  Below is the video from the local news station that covered the drawing.

Watch news video of drawing

UPDATE: December 28, 2009

I just got off the phone with Jack Labarga, the Director of the Mission of St. Francis, the beneficiary of the charity component of this raffle.  Mr Labarga was very accomodating and my conversation with him was very enlightening. 

So, here are where things stand according to Mr. Labarga:

1. Ticket prices were increased to $30 from $10 in an effort to raise more money.  However, the $30 ticket has the same chance of winning as the $10 ticket…they just paid $30 for the same chance earlier buyers paid $10 for

2. Ticket sales were stopped on Christmas as was originally planned.  There have been no new tickets sold since.

3. There were not 300,000 tickets sold so the house will not be awarded.  Instead, per the terms of the raffle, a 50/50 drawing will be done with 50% of the cash going to the winner and the other 50% to the Mission of St. Francis. 

4. The drawing will be done tomorrow or Thursday at the Mission of St. Francis.

5. The number of tickets sold and money raised is not known by Mr. Labarga at this point.  He said Chicago Title is tallying it up now and the total should be known later today.

So, in the next day or two one lucky ticket holder will be getting a late Christmas present.  Good Luck.

UPDATE: December 24, 2009

Over the past couple of weeks it has come to my attention as well as the attention of many of our readers that the “terms” of this house raffle have changed…tickets are now $30 instead of $10 and it now appears the drawing has been postponed 3 months…I have emailed the Brannan’s asking for an update and why they made the changes but have not heard back from them yet…Thanks to one of our blog visitors, Bob, below is an email that was apparently sent out by the brannan’s announcing the changes….if I hear back from the Brannan’s I’ll update this post agian:

Subject: Raffle Drawing Rescheduled: March 25, 2010
> From:
> Date: Thu, 24 Dec 2009 13:06:57 -0500

> To all of our friends and supporters, we want to wish you a very happy holiday season with all your loved ones and friends.
> As you know, it has been our wish to complete the raffle by Christmas day. However, due to the economy, we have not sold enough tickets and have decided to postpone the raffle for 90 days (the drawing will now be held on March 25, 2010). The reason for this decision is due to the fact that this has never been just about raffling off a home – it’s equally as important to keep the Mission of St. Francis from having to close it doors after so many years of service to those who are in need of their help.
> As the Mission has stated, we pray and hope for your understanding. By extending this raffle, many more will benefit during these hard economic times.
> We thank you in advance for your understanding and ask that you please help us get this done by contacting those in your address book. At the end of the extension, all of the same rules and terms will apply. If we’re still unable to meet our goal, we’ll do a 50/50 drawing, in which the winner will get 50% of the proceeds, and the other 50% will benefit the charity.
> On behalf of the Brannan family and the Mission, we thank you for your patience, understanding and your willingness to help us not only raffle the home, but allow the Mission to continue helping those in need. We hope that you have a blessed holiday and happy 2010!
> – Mission of St. Francis

Two months ago I first wrote about the opportunity to win a $3,000,000, 6,000 square foot gated waterfront estate home in Ft. Lauderdale, Florida for just $10.00.   The raffle is being conducted by Florida Luxury Auctions and is scheduled to end on December 25, 2009.

Recently I followed up with the company doing the auction, Florida Luxury Auctions to see how things were progressing.  I found out that this is not an auction company auctioning off someones house, but instead is a couple, Miles and Laura Brannan (both of whom are in the real estate business) that as they said “have been hurt greatly by this economy.”  In a response to my questions they stated “the raffle is a means to avoid foreclosure…” 

I have to applaud the Brannan’s for their creative and innovative effort, as well as the fact that as a result of their effort they are allowing many other people to benefit from their difficult situation.  I say this because the Brannan’s plan to share part of the proceeds of the raffle with The Mission of St. Francis, with the balance going to their lender.  In addition, some lucky person will “win” their home for $10.00.  This sure looks like a win-win situation to me!  It’s a shame it is at the expense of the Brannans but I think you have to applaud them for trying their best to turn their bad situation into a good one for others.

According to the Brannan’s they have sold about 80,000 tickets to date so they are not quite on pace to hit the 300,000 mark by December 25th but hopefully they will make it.  I would encourage everyone that can afford it to buy a ticket, or two or three, to help support the cause.  Who knows, you may just end up with their $3,000,000 home!