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Some sports stars moving away from homeownership

Buying real estate can create tough moving situations for professional athletes.

Buying real estate can create tough moving situations for professional athletes.

While many professional athletes make headlines for their multi-million dollar home purchases, other stars say that those purchases have come back to hurt them in the long run when they can't sell the properties after moving to a new team, HousingWatch reports.

The relocation process can be hectic for athletes, who often have to move out of their homes and find a new place to live in a matter of days, not weeks or months.

"I'll never buy again," veteran NBA player Keyon Dooling, told the New York Times last year. "That was a learning experience. I'll never buy again as far as where I'm playing. It's not a good idea, because you can never predict how long you're going to be in a situation. You could be stuck with a piece of property that you never go to."

Relocation activity can come quickly in sports. In the week before Major League Baseball's trading deadline in July, more than 50 players ended up in new locations.

The situation has gotten a significant amount of recent attention due to the situation of NBA player Kevin Martin, who received a notice of default on a home in California this month after being traded to Houston - even though he'll make more than $10 million this season. Martin's agent has said that he is working on a short sale.