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y Sarah Horbacewicz, Your Reporter
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December 27, 2025 / 3:54 PM MST / CBS Colorado
What if a Colorado home could cost only $5? FulHouse Inc., founded by Jason Graf and Sam Cogan, is turning that idea into a reality. The company runs a sweepstakes: thousands pay a few dollars to enter, and the combined funds cover a property. The winner receives the house for a fraction of its price.
This fall, Graf listed his own two‑bedroom Denver townhome as FulHouse’s inaugural sweepstakes. “We wanted to prove the concept with our own money,” he said. The launch comes amid a Bankrate study showing that over 75 % of U.S. homes are unaffordable for the average household.
Unlike flashy reality‑TV giveaways, Graf says FulHouse offers a genuine community option. Since the listing opened last month, the sweepstakes has attracted more than $15,000 in entries, and Graf plans to add more properties soon. Realtors have already expressed interest: “I have 20 homes to sell—can I use your platform?” asked one agent.
Realtors remain cautious. Andrew Abrams, on the Denver Metro Association of Realtors’ market‑trends committee, notes that traditional sales allow sellers to coordinate moving dates and costs. “My clients expect a conventional process; a $5 lottery feels like a gamble,” he said. Abrams stresses the importance of due diligence and fine print, warning that the sweepstakes model carries risks similar to any purchase.
FulHouse’s first sweepstakes will close at the end of March. If the entry total meets the sale price, the house will be raffled. If not, entrants can request refunds, donate their money, or double future entries at no extra cost. The company also offers a free entry for those who send a postcard.
“Offering a house for $5 sounds like a scam, but we’re just regular people trying to make a difference,” Graf said.
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