Wednesday, September 10, 2008

Q: Who's Cutting Asking Prices? A: NBA All-Stars

Allen Iverson, the NBA All-Star Guard from the Denver Nuggets, and Rasheed Wallace, the Detroit Pistons' All-Star Forward, have both cut the Asking Prices of the houses they currently have on the market, reports the Private Properties column of the WSJ.

Allen Iverson has cut his price by 37%. It's a six-bedroom, 14,ooo sq. ft. house in Villanova, PA, about 20 miles from Philadelphia. Iverson bought the "French-style" house, built in 1991 and sitting on four acres, for $5M in 2003; he put the house on the market for $6.3M in 2007. He's now hoping to get $4M.

Detroit Pistons' Rasheed Wallace has lowered the asking price of his Portland, OR, house from $5.2M to $4.9M. Wallace bought the ca. 1924 5 bedroom, 5 bath house English Tudor, which sits on two+ acres, for about $3M in 2000. It was briefly listed for $5.5M in 2007 before being pulled off the market.

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