Tough times for all – even the ballers

It seems like the subprime mortgage crisis has made life tougher for everyone, including two NBA stars. According to the Wall Street Journal’s Private Properties column, Allen Iverson and Rasheed Wallace have cut their prices on houses they each put on the market last year, by 37 percent and 6 percent respectively.



Iverson and his wife, Tawanna, put their 14,000-square foot Villanova, PA house on the market in 2006 after Iverson was traded to the Denver Nuggets. The Nugget’s guard purchased the house for $5 million in 2003. Iverson originally listed the house for $6.3 million, before being forced to lower the Chanel Overton Long & Foster Co.s’s listing to $4 million.
Features
• Built in 1991
• Four-acre property
• French style house with arched palladian windows
• Four-floors
• Six bedrooms
• Movie theater that seats 12
• Marble bathrooms
• Billiard room
• Lounge with custom wood bar, holding more than 200 bottles of wine
• Coffee bar
• Media room
• Guest suite
• Pool house
• Outdoor pool with stream and waterfall



Wallace has also lowered his price on his Portland, OR home from $5.2 million to $4.9 million. Wallace bought the house in 2000 for about $3 million. According to the listing agent Tricia Epping, with Coldwell Banker, Wallace has spent more than $1 million on improvements to the house. The Detroit Pistons’ forward left Portland to join the Pistons for a six-year deal worth roughly $60 million.
Features:
• Built in 1924
• Tudor-style house built with bricks
• Five bedrooms
• Five baths
• Tennis and basketball court
• Theater
• Built-in saltwater aquarium
• Office
Picture Gallery

I guess it’s tough times for all of us.

PHOTO CREDITS: YAHOO Sports & Luxist.com

By: Jonathan Hartman