Slide Show | July 2008

What Can You Buy for $500,000?

Even though property prices have been in decline since 2005, a half a million dollars can buy a lot more -- or a lot less -- depending on where in the U.S. you decide to look. So where can you maximize your real estate dollar? Live in luxury for less?

We went in search of mid-priced housing values using our top ten best cities for 2008 as a guide. From California and Arkansas to North Carolina and Texas, we've highlighted turnkey properties in safe, appealing neighborhoods that you can move right in and call home.

The slide show begins with the navigation to the right.
MORE:
What $250,000 Buys You
What Can You Buy for $750,000?
How Much Can You Buy for $1 Million?

By Cindy Schwalb & Amy Pollak

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What Can You Buy for $500,000?

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What Can You Buy for $500,000?

Omaha, Nebraska

www.jerryhedyahlvers.cbshome.com

Price: $450,000
Square Feet: 3,980
Bedrooms: 6
Bathrooms: 4

This restored Arts & Crafts home in the heart of Omaha's Dundee neighborhood features coffered beam ceilings, pine floors and a butler’s pantry as well as modern upgrades, such as granite kitchen counters and a double oven. Plus it has an outdoor hot tub.

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Omaha, Nebraska

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What Can You Buy for $500,000?

Provo, Utah

Home & Family Realty

Price: $469,000
Square Feet: 4,712
Bedrooms: 6
Bathrooms: 5

This new home in Provo's Riverbottoms community includes top-of-the-line stainless steel appliances, travertine marble and hardwood floors. Great views of the mountains, too.

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Provo, Utah

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What Can You Buy for $500,000?

Austin, Texas

Pat Vincent , Coldwell Banker

Price: $485,000
Square Feet: 3,594
Bedrooms: 4
Bathrooms: 3.5

Situated on nearly a third of an acre with a creek running through the backyard, this custom home in a quiet neighborhood is less than 13 miles from downtown. Upgrades include a fully-wired game room.

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Austin, Texas

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What Can You Buy for $500,000?

Raleigh, North Carolina

Penny Tate, Fonville Morisey Realty

Price: $490,000
Square Feet: 3,963
Bedrooms: 4
Bathrooms: 4

In addition to an updated kitchen with stainless-steel appliances and granite counters, this stately property comes with 1.7 acres of land and a pool.

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Raleigh, North Carolina

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What Can You Buy for $500,000?

Colorado Springs, Colorado

Todd Hentosz, Keller Williams

Price: $500,000
Square Feet: 4,034
Bedrooms: 4
Bathrooms: 3

This upscale home in Briargate’s Pine Creek golf community has a view of Pike’s Peak from the back patio. An open-living floorplan and arched doorways complete the picture.

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Colorado Springs, Colorado

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What Can You Buy for $500,000?

Houston, Texas

Evelyn Makris, Coldwell Banker

Price: $549,000
Square Feet: 3,422
Bedrooms: 3
Bathrooms: 2

Originally built in 1902, this Victorian home has been thoroughly renovated and updated. It has hardwood floors, high ceilings, and crown molding along with new, modern conveniences.

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Houston, Texas

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What Can You Buy for $500,000?

Sacramento, California

Jon Nastro, Keller Williams

Price: $549,950
Square Feet: 3,520
Bedrooms: 5
Bathrooms: 3

Located in the Laguna West area, the home has a fully updated kitchen with new appliances and granite countertops. Above the three-car garage, there is a 400-square-foot bonus room. And it has views of a nearby lake.

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Sacramento, California

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What Can You Buy for $500,000?

Fayetteville, Arkansas

griffincompanyrealtors.com

Price: $585,000
Square Feet: 4,259
Bedrooms: 3
Bathrooms: 3

This gated-community home sits on 6.45 acres that back up to nature trails along the White River. Along with the backyard pool, there's an outdoor fire pit.

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Fayetteville, Arkansas

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What Can You Buy for $500,000?

Des Moines, Iowa

www.iowarealty.com

Price: $599,900
Square Feet: 4,259
Bedrooms: 3
Bathrooms: 3

This 1929 home in the heart of the Waterbury/Roosevelt community has been reconstructed into a low-energy home but with luxury upgrades, such as heated tile floors in the master bathroom. The master suite features a double-sided fireplace and a library. Big, nicely landscaped backyard, too.

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Des Moines, Iowa

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What Can You Buy for $500,000?

Boise, Idaho

www.group-one.com

Price: $629,000
Square Feet: 3,859
Bedrooms: 4
Bathrooms: 3.5

Here's a spacious, waterfront property in the Lakeland area of Boise that has mountain views from all the major rooms, including the master bedroom suite. There also is access to a private sandy beach. The Lakeland community is minutes from downtown.

MORE:
What $250,000 Buys You
What Can You Buy for $750,000?
How Much Can You Buy for $1 Million?

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Boise, Idaho

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