Did the winner take the cash option?
Want to live in the HGTV Dream Home in Florida? Because it’s on the market.
Two months after HGTV announced Marie Fratta of Westchester County, New York, won the 2024 HGTV Dream Home on Anastasia Island, Florida, the house was listed for sale. Real estate sites such as Zillow and Realtor.com show an asking price of $1.9 million. Though one site labels the house as “active under contract,” that means an offer was accepted but not final.
And because the house is on the market, that likely means Fratta will have settled for the “cash option” in the 2024 HGTV Dream Home sweepstakes contest.
Here’s what we know.
On May 22, 2024, HGTV announced the identity of the winner of the HGTV Dream Home on Anastasia Island in Northeast Florida, described as “a grand coastal escape.” Marie Fratta of New York won the sweepstakes contest. She was randomly drawn from more than 130 million entries to the sweepstakes, which lasted from Dec. 22, 2023, to Feb. 15, 2024.
According to HGTV, Fratta was at a loss for words upon receiving the news that she was the winner of the luxurious home.
“This is insane,” Fratta told the Home and Garden television network. “I feel like this is a prank.”
Fratta, a 25-year veteran educator who teaches fourth grade, had initially been told she was being honored with a teaching award at a local restaurant. As HGTV reports, her friends, co-workers and current and former students assisted the network in organizing the surprise reveal. The home was designed by architect Michael Stauffer, built by local builder Glenn Layton Homes with interior design by Brian Patrick Flynn. The three-bedroom, four-bathroom home is about 3,300 square feet with views of the Matanzas River and the St. Augustine Lighthouse.
Another ‘stunning’ house: $2.6 million Florida listing is very close to the HGTV Dream Home
How much is 2024 HGTV Dream Home in Florida on Zillow and Realtor.com?
As of Thursday, Aug. 1, 2024, the asking price for the 2024 HGTV Dream Home on Anastasia Island, Florida, or 214 Pelican Reef Drive, St. Augustine, was $1,999,950, listed by Rebecca Staples and brokered by Xcellence Realty.
Description of the 2024 HGTV Dream Home in Florida: “The home combines classic coastal elegance with modern touches and layers of natural textures drenched in soothing blue and white hues. Upon entry, guests will be instantly taken away by the beautiful views of the waterfront. The front door leads to the great room with an open concept that includes a living room with sleek sofas and a fireplace, a dining room with a beach inspired distressed table, and a bright blue cabinet filled kitchen. The laundry room and well-organized mudroom sit between the kitchen and an attached two-car garage. The main bedroom looks up to airy skylights and offers a private retreat from the rest of the home with a walk-in closet and main bathroom. The house is perfect for entertaining with two guest suites and a loft that provides a cozy space with a wet bar and a mini fridge. The spacious backyard is a true dreamy getaway with an outdoor kitchen and high-top bar, a pool with an elevated platform and a pergola.”
How much is HGTV Dream Home 2024 worth? What is total HGTV Dream Home grand prize package worth?
Value of the total Anastasia Island HGTV Dream Home package is estimated at just over $2.2 million. According to contest rules, as winner of the sweepstakes, Marie Fratta of New York would receive:
Keys to the fully furnished home, which, according to rules, includes home furnishings, fixtures, artwork and merchandise for an approximate retail value of $2,069,595
A new Mercedes-Benz E Class sedan worth about $70,000, according to the rules
$100,000 cash
Is there a lump sum or ‘cash option’ for HGTV Dream Home 2024 contest? Do winners keep the Dream Home?
Because the 2024 HGTV Dream Home on Anastasia Island, Florida (near St. Augustine), is on the market, that means the sweepstakes winner, Marie Fratta of Westchester County, New York, selected the cash option rather than keep the Dream Home. (Most HGTV Dream Home winners have done this.)
The contest rules state: “In lieu of taking title to the HGTV Dream Home 2024 (and the contents of the HGTV Dream Home 2024), the grand prize winner will have the option of receiving $650,000 in cash (the “cash option”). If the grand prize winner cannot take possession of the HGTV Dream Home 2024 … the grand prize winner shall receive the cash option. Total value of the grand prize is $820,000″ if the cash option is selected vs. the HGTV Dream Home 2024.
Fratta has the option of receiving $650,000 in cash.
Past HGTV Dream Home winners selected the cash option
David Rennie of Shelton, Conn., won the 2016 HGTV Dream Home on Merritt Island, Florida, which was the last time the Sunshine State hosted the project. Rennie chose the cash option and HGTV sold that home back to the builder.
As a 2019 article in the Miami Herald noted, the cash option is a more recent addition to the sweepstakes. HGTV began including the cash option a few years ago when it became apparent that many winners were forced to sell because they could not afford taxes or upkeep. Up to that point, only six of the first 21 winners lived in the home for more than one year.
Florida Times-Union writer Anne Hammock contributed to this story.
Sangalang is a lead digital producer for USA TODAY Network-Florida. Follow her on Twitter or Instagram at @byjensangalang. Support local journalism. Consider subscribing to a Florida newspaper.
This article originally appeared on Florida Today: Who won HGTV Dream Home on Anastasia Island? Marie Fratta of New York
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