The house is in upscale Marin County, just north of San Francisco. The couple already own a home in Danville, a suburb south of San Francisco, and if they don't want to move they have the option of $1.2 million in cash.
They're still deciding what do, but Brad Wells, who had been a sales executive for a Silicon Valley high-tech company, said the winnings are definitely a boost.
"I got laid off on Wednesday and the company went bankrupt on Friday," he said. The couple got word of their win on Saturday. "It's been a really rough ride for the last year. This gives us an unbelievable lift."
The raffle was held by Community Action Marin, which netted about $1.3 million, down from $2 million last year, the first time the event was held.
"In this economy, we're still very pleased," said Russ Hamel, director of development for the group, a private social services organization.
There were 29,000 tickets sold and prizes in addition to the dream house included $200,000 in cash.
Susan Wells said the couple is celebrating by having dinner with their neighbors.
"We're bringing a very good bottle of champagne," she said.
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