“When the housing bubble pops, it hurts. “

From AOL Sports:

Terrell Owens’ House Can Be Yours for $3.4 Million

Recognize this driveway? It’s the one where Terrell Owens famously did situps after the Philadelphia Eagles sent him home from training camp. And now you can have it for your very own. It’ll cost you just $3.4 million.

That’s the price Realtor.com lists for the five-bedroom, 7.5-bath palace, and according to today’s Philadelphia Inquirer, that price is $500,000 less than Owens paid for it two and a half years ago. When the housing bubble pops, it hurts.

From the Philly Inquirer:

Athletes’ cribs

Somebody can really throw Terrell Owens for a loss by buying his house in Moorestown. The Cowboys wideout put his creekside five-bedroom on the market in October 2005 for $4.4 million. The listing now says the owner is “motivated to sell” and “will consider all offers.” Price is now $3.4 million – a $1 million discount and a full half-mill less than he paid for it in May ’04. Would a hyperbaric chamber cinch a deal?

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4 Responses to “When the housing bubble pops, it hurts. “

  1. lowball says:

    “A nonprofit credit-counseling agency in Riverside handled 10,000 calls about mortgage defaults in 2006, said the organization’s president Dianne Wilkman.
    ‘And the phone is ringing off the hook this year,’ Wilkman said. Wilkman said nontraditional loans, especially those that originated last year, are driving much of the activity.”

    originated last year?

  2. lisoosh says:

    Well, at least he can afford to take the hit.

  3. d2b says:

    When Owens was suspended last year, The Inquirer quoted a local RE professional that said the house was worth about $2.8 million.

  4. phillyguy says:

    I remember reading something at the time he bought that it was the most ever paid for a home in Moorestown?

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