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T.O. Thinks His House Outplayed its Contract

Aug 10, 2006, 10:53 AM EDT

T.O. thinks his house is worth more than what everyone else thinks it’s worth.  Sounds familiar, doesn’t it?

Luxury estates are apt to take longer to sell than lower-priced
properties, but in the opinion of some knowledgeable realtors in the
Moorestown area, the problem is that the house is somewhat overpriced.
While Lacey would not comment specifically on this, except to say that
the house was appraised for $4 million when he purchased it, the
consensus is that Owens overpaid for the property by possibly $1
million when he purchased it for $3.9 million
from Dawn Cline and her
husband Dennis in May 2004. According to real estate records, the
Clines had purchased the property in September 1998 for $1.150 million.
But Dawn Cline says the house had been upgraded considerably since
then, and that it "showed extremely well" when Owens came to look at
it. Cline adds, "The house was worth it."

The celebrity value of the house seems to have declined due to the fact that Owens seemed to neglect his lawn when living there.  "I thought if I just did situps on it, I wouldn’t have to water it.  My sweat nourishes," Owens was quoted as saying.

Previously: 11/05/06: Owens trying to sell ATL home [The700Level]


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