When Allen Iverson was playing for the Denver Nuggets he needed a plush pad in the Cherry Hills area of Denver. The home he had purchased was located in an Enclave of Cherry Hills called Buell Mansion. This area has some exquisite homes that were perfect for a Denver athlete. The community is one of the gated community’s within Cherry Hills Village and boasts Multi Million dollar price tags on every block.
Mr Iverson’s home was recently put under contract for sale around the $2.8 Million mark, we wont know what was paid for the home until its sold but it seems as though there has been a demand for payment of the loan balance from the bank! Even wealthy celebrity’s are feeling the crunch of the housing market. Some americans have been hit by values being brought down but it really puts it in perspective to know that the loss on a home for people like Allen Iverson can hit the 7 Figure bracket! So next time you think you’re hurting because you may have lost a few thousand in value on your home, consider poor Mr. Iverson and the loss that he is in the middle of around $1 Million dollars out the window.