In order to avoid being bitch-slapped by the current headache-inducing housing market downturn, this former pro wreslting diva is giving away her house as a prize for a new writing contest.

Terri Runnels, better known as Marlena from her time as a WWE diva/host, is giving away her suburban home in Gainesville, Florida to the winner of her self-created ‘Make the Wolrd Write’ contest.

To enter the contest, participants must pay a $200 entry fee and then submit an essay explaining how they would change the world for the better. One winner will be selected and will become the owner of the house. In addition, the lucky winner will be given $100,000 in prize money presumably to implement their plan or to throw a huge house warming party. It’s right by one of the nation’s most partying college campuses – University of Florida. Go gators, anyone? Maybe Heisman trophy-winning QB, Tim Tebow will stop by and chill? Have you seen his smokin’ hot girlfriend yet?

But I digress, check out the contest website, if for nothing else but to see some pics of the pimped-out crib where Terri ‘wrestles’ every night.

According to MainStreet, “Marlena” could be doing this to ensure a big tax break. The former wrestler has said the reason she is giving away the house is because ‘the market is so horrible right now’. However, she could be getting a nice bonus out of it too:

Oftentimes, the donation of something like a home can benefit not only the receiver of the new shelter but also the donator, who can possibly qualify for large tax breaks on the donation. Laws are different across states regarding taxing on donations, and something given away as a contest prize does not always apply, but in some cases it does –and in today’s economy, those tax breaks could outweigh the lowering amount you’d receive for selling the property.

Well played, Marlena. This little stunt is a suplex right into the crotch of the real estate market, not to mention the pile-driver of tax loophole given to the IRS.

Of course, with enough entrant, ‘Terri’/’Marlena’ could stand to make some money out of this charity deal. Anyone else suspicious of her just keeping all the entrance fees and selling he house privately? PLUS – she’ll have all our ideas for how to improve the world! There’s no telling what she’ll do with all those unpatented fool-proof plans.

In conclusion, here’s a completely unrelated video of Terri playing with a garden hose inappropriately.

MainStreet: Pro Wrestler Marlena To ‘Give Away’ Her Home, July 23, 2008