$100 Buys $1 Million House

Karen McHale, 47, of Idaho Springs, Colorado has won a 6,000-square-foot house with an appraised value of $1.25 million. Karen viewed the $100 she spent on raffle tickets as a contribution to a Maryland charity, not planning to win anything. She was then shocked to find that she had indeed won the house on the coast of Maryland. Karen does not intend to keep the house, instead, she is going to sell it and use the money for her grown children and to pay on her current home.
The house had been the prize in a raffle organized by mortgage broker Tom Walters of Edgewater, Maryland. Tom Walters thought a raffle might be a more lucrative way to unload the Edgewater property than a standard sale during a bad economy. Walters reached his goal of selling 31,500 tickets, said president and founder of the raffle, Larry Griffin. Walters himself only sold about 24,000 tickets, leaving the amount of Griffin's charity cut in limbo. Griffin said he and Walters would figure out how to split the proceeds.


The Walters And Prize House




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