A retired postmaster from Johnson City, Tenn., beat 41 million-to-one odds Sunday night to win the 2007 HGTV Dream Home near Winter Park.

Bob O’Neill Sr., was speechless when host Joan Steffend walked up to him in a Johnson City restaurant where he was dining with family and friends. As a camera crew taped the event live, Steffend gave him the good news at 7:55 p.m. Colorado time and offered him a giant check for $250,000.

"Is this a joke?" O’Neill asked.

Soon the moment sank in and O’Neill, 69, got a hug from his wife, Lorie.

"Oh my god. I can’t believe this," he said. "Honest to god, we’ve been looking for a home and we’ve found what we wanted."

The dream home is a 4,400-square-foot rustic log residence at Bridger’s Cache, a posh subdivision near the base of the Mary Jane Ski Area. The $2.5 million giveaway also includes $250,000 in cash to defray taxes, an SUV, furnishings, a plasma TV, dog house and other gifts.

For the first time in its 11-year giveaway history, HGTV placed the dream home in a Colorado setting.

"We were looking for a location with a dream-line quality and easy access," said HGTV spokeswoman Emily Yarborough.

Although O’Neill will probably walk away a millionaire, previous winners have had a hard time holding onto the homes. Nine of the winners sold their homes within about a year’s time and the 2005 Dream Home in Tyler, Texas, was recently on the market.

O’Neill could be liable for over $1 million in taxes on the winnings, said Butch Shoup, a Denver CPA. If O’Neill puts the $250,00 cash award toward that IRS bill and takes out a loan for $750,000 for the rest, the home will cost around $111,000 a year to own.

Ski lessons would be extra.

What’s Next: The O’Neills will be invited to get their first look at their dream home Saturday, March 24. The event will be televised.

(HGTV and the Rocky Mountain News are owned by the E.W. Scripps Co.

lehndorffb@RockyMountainNews.com or 303-954-2792.

Wish you’d won the $2.1 million prize? Here’s what some of your monthly bills would be:

$6,800: payment on the $750,000 loan if you have good credit.

$686: homeowner’s association and clubhouse fees

$625: property taxes

$350: household insurance

$200: auto insurance for the SUV

$400 or more: heating, electricity and water

$200: gas and travel expenses to the home from Denver.