The Real Deal Miami

Failure to sell leads to $50 raffle

June 08, 2009 06:36PM

Coral Gables condo owner James Cardiello has had enough with the market and has put his two-story unit up for sale via raffle, at $50 a ticket. It could be a bargain for the unit, which was listed at $330,000. USAhomeraffle.com, which lists properties up for raffle, says raffles are a way to move properties that are languishing on the market. Miles Brannan listed his six-bedroom home on Floridaluxuryauctions.com and says he has sold 20,000 tickets so far. He is aiming to sell 300,000 tickets by December 25.