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Old 06-09-2011, 06:00 PM
 
2,512 posts, read 3,033,884 times
Reputation: 3971

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Quote:
Originally Posted by hilgi View Post
Hence the name "Dream Home".
Yea, that one didn't get by me hilgi, the post was more to inspire a reflection on priorities and maybe cause a raising of consciousness, especially considering what is going on in the world today with the R.E. mortgage crisis, food shortages, changing climate, global warming, enegy shortages, shrinking environmental habitat ( the lone fly fisherman in the Provo River just behind the house), etc.
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Old 06-10-2011, 07:24 PM
 
2 posts, read 3,353 times
Reputation: 10
It's located at River Meadows Ranch in Midway. Beautiful area.

Moderator cut: can only link to realtor.com but need 10 other posts to make specific recs, too new to link anyway

Last edited by SouthernBelleInUtah; 06-10-2011 at 08:26 PM..
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Old 01-28-2012, 02:32 PM
 
730 posts, read 2,246,519 times
Reputation: 727
I am entering daily. Yes, that's a bit fanatical but we wanted to move to the area within 5 years anyway. I love Utah.
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Old 02-02-2012, 11:04 AM
 
Location: Inis Fada
16,966 posts, read 34,564,498 times
Reputation: 7722
I've entered everyday as well. One can dream....
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Old 02-02-2012, 11:10 AM
 
Location: Philippines
1,961 posts, read 4,368,095 times
Reputation: 2781
This would certainly be awesome, I entered once. But in reality, there is no way I could afford the taxes on the prize winnings, much less the monthly utility bills or annual property tax.

I guess one can dream though. I guess if you win, you could always just turn around and sell the house. But in this market, who knows how long it would take.

Geesh, just call me Debbie Downer, I guess.
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Old 02-02-2012, 11:15 AM
 
28 posts, read 112,457 times
Reputation: 42
Great to see this 7-month-old thread revived this week. You people are lowering my chances of winning.

As far as the taxes and bills, not to be rude, but what the heck did you think the $500,000 cash was for?

Quote:
Originally Posted by easternerDC View Post
This would certainly be awesome, I entered once. But in reality, there is no way I could afford the taxes on the prize winnings, much less the monthly utility bills or annual property tax.

I guess one can dream though. I guess if you win, you could always just turn around and sell the house. But in this market, who knows how long it would take.

Geesh, just call me Debbie Downer, I guess.
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Old 02-02-2012, 11:50 AM
 
Location: Inis Fada
16,966 posts, read 34,564,498 times
Reputation: 7722
Quote:
Originally Posted by easternerDC View Post
This would certainly be awesome, I entered once. But in reality, there is no way I could afford the taxes on the prize winnings, much less the monthly utility bills or annual property tax.

I guess one can dream though. I guess if you win, you could always just turn around and sell the house. But in this market, who knows how long it would take.

Geesh, just call me Debbie Downer, I guess.
OK, Debbie Downer

I wonder what the property taxes are in that area? Is there someone on the forum familiar with the area who might have an idea?

Thanks!
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Old 02-02-2012, 12:53 PM
 
Location: Philippines
1,961 posts, read 4,368,095 times
Reputation: 2781
Quote:
Originally Posted by norris14 View Post
Great to see this 7-month-old thread revived this week. You people are lowering my chances of winning.

As far as the taxes and bills, not to be rude, but what the heck did you think the $500,000 cash was for?
I was really curious about the whole issue of the prize winnings and taxes, and the total prize package would be worth over $2mil. So, taxes on the prize winnings alone would be closer to $700,000 (if you keep the house), reported on your 2012 taxes due April 2013. Although, all said and done, after taxes, and selling the house, etc, you could reasonably walk away with about $600-$700k, and that is nothing to scoff at.

I was curious if anyone has ever kept the dream home themselves, instead of selling right away.
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Old 02-02-2012, 02:27 PM
 
6,687 posts, read 13,902,756 times
Reputation: 5592
The property taxes on these homes is the reason why the majority of winners have sold the homes they won. Those tax bills are hefty and the winner needs to be fairly wealthy to afford them. I have seen the home they built on Lake Tyler in Texas. It is truly stunning.
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Old 02-02-2012, 05:00 PM
 
1,710 posts, read 1,451,852 times
Reputation: 2205
There is also a cash option the winner can take worth like $2.5 million. Then you pay tax on that. I looked up a $1.4mil house in Midway and the taxes listed on the website are about $7500/yr. Which in all honestly that's not bad at all compared to houses in PA. A $250,000 house there can have $6k in property tax depending what school district it's in.
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