Allen Iverson Can't Sell his Home

Speaking of housing, let's take a lighter look at the news - it appears A.I. (for those non basketball fans, that's Allen Iverson's nickname) cannot sell his home - he bought it in 2003 for $5 million and now has it listed at $4 million. He listed at $6.3 million - hah! Mr Iverson this isn't 2006 my friend. So even the high end is having a tough time, eh? Unless you are in Manhattan and foreign buyers are willing to pay any price with the US Peso (despite its "surge") down for 6 years in relentless fashion. Elsewhere, prices are in some cases back at 2003 levels. So Mr Iverson is as we say "underwater" joining a good many (more by the day) across the country. If he holds out a year, the government in its desperation to stop the housing/credit/financial contraction, might just buy it from him. We're just not at that stage yet... :)

• Two NBA All-Stars who listed their houses last year have cut their prices -- Allen Iverson by 37% in the Philadelphia area, Rasheed Wallace by 6% in Portland, Ore.
• Mr. Iverson and his wife, Tawanna, put their house on the market after the Philadelphia 76ers traded him in 2006 to the Denver Nuggets. Built in 1991, the six-bedroom, 14,000-square-foot house is in Villanova, about 20 miles northwest of Philadelphia. The four-floor French-style house has arched Palladian windows, a movie theater and a guest suite, according to the listing. The four-acre property includes a poolhouse and a stream.
• The 33-year-old guard paid $5 million for the house in 2003, records show, and listed it for $6.3 million; he's now asking $4 million.

Here is a link with a lot of nice pictures for those readers in the Philly area who are interested.

Here is the official MLS listing.

If you do end up buying, remember I have a 1% referral fee. Your welcome.