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How Much Can You Buy for$1 Million and Change?

| August 7, 2008

What a difference a few years can make. There was a time not long ago when a million bucks looked like the entry ticket to the American Dream, especially in overheated housing markets in major metropolitan areas. No more. These days, a million dollars once again buys a lot of luxury in a depressed housing market. We looked to our Best Cities for 2008 to showcase exclusive homes around the country in this high-end price category. Check out what we found.

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MORE:

What $250,000 Buys You
What Can You Buy for $500,000?
How Much Can You Buy for $750,000?

By Cindy Schwalb & Amy Pollak

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How Much Can You Buy for$1 Million and Change?

Raleigh, North Carolina

Sheryl Kilborn, Premire Real Estate

Asking Price: $944,500
Square Feet: 4,265
Bedrooms: 3
Bathrooms: 3.5
Located on a quarter acre of land, with a three-car garage, this new home has plenty of space. Luxury features include a chef's kitchen, high ceilings, two-sided fireplace and a wetbar.

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How Much Can You Buy for$1 Million and Change?

Sacramento, California

Hilary DeVine, Lyons Real Estate

Asking Price: $950,000
Square Feet: 2,531
Bedrooms: 4
Bathrooms: 2
Built in the 1920s, this was the first house built on the block and has had only two owners since. With an updated kitchen featuring a Viking range, covered patio, two staircases and hardwood floors throughout, this home has modern amenities, old-fashioned touches, and a price tag just under the million-dollar mark.

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How Much Can You Buy for$1 Million and Change?

Austin, Texas

Connie Lundgren, Turnquist Partners

Asking Price: $995,000
Square Feet: 4,226
Bedrooms: 4
Bathrooms: 4.5
This home on a cul-de-sac in Barton Creek Resort is about ten miles from downtown Austin. Features include a gourmet kitchen, balcony fireplaces and ample covered outdoor living space, with a separate outdoor kitchen.

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How Much Can You Buy for$1 Million and Change?

Des Moines, Iowa

Iowa Realty, Valley West Office

Asking Price: $998,500
Square Feet: 3,382 (not including finished walkout level)
Bedrooms: 4
Bathrooms: 3.5
Located in Owl's Head, one of Des Moines' historic districts, this home was custom built with a Victorian influence -- in 2006. Details include custom iron work and hand-crafted wood working. An additional 1,300 square feet is added in a finished lower level walkout.

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How Much Can You Buy for$1 Million and Change?

Houston, Texas

Mary Wassef, Keller Willams Realty

Asking Price: $1,075,000
Square Feet: 4,080
Bedrooms: 4
Bathrooms: 3.5
Located less than three miles from downtown Houston, this new Georgian revival home has New Orleans style. A luxury kitchen with Thermador appliances, a wine room and a walk-in pantry are featured amenities. A garage apartment and bricked courtyard also make this home stand out.

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How Much Can You Buy for$1 Million and Change?

Provo, Utah

www.blackhawkrealty.com

Asking Price: $1,150,000
Square Feet: 4,204
Bedrooms: 4
Bathrooms: 5

To the west of Provo, following the Wasatch Moutain Range, there's Springville, an exclusive bedroom community with homes like this secluded chalet on the back nine of Hobble Creek Golf Course. Designed to maximize both indoor space and outdoor views, the great room has a 26-foot vaulted ceiling set with an equally dramatic timber mantel. There's a hot tub on the master suite's private deck.

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How Much Can You Buy for$1 Million and Change?

Omaha, Nebraska

Terry Stork, www.cbshome.com

Asking Price: $1,295,000
Square Feet: 6,552
Bedrooms: 4
Bathrooms: 5

Many extras add to the price of this home -- a circular driveway, grand foyer, nine-foot ceilings, plus granite, limestone and marble embellishments throughout. Then there's an exercise room and three fireplaces. Finer details? How about heated floors in the master bedroom, a power humidifier, exercise room, a hearth room, and a professional chef's kitchen.

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How Much Can You Buy for$1 Million and Change?

Colorado Springs, Colorado

Kim Carper, The Platinum Group Realtors

Asking Price: $1,699,000
Square Feet: 7,700
Bedrooms: 5
Bathrooms: 7
This distinctive mountain estate turns every day into a vacation--well, almost. There's a Hawaiian-themed media room and an Italian bar with a built-in espresso machine for more entertaining. For a spa retreat, look no further than the master suite, where you'll find a unique teak soaking tub that has a nine-foot waterfall. Great views of Pike's Peak, too.

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How Much Can You Buy for$1 Million and Change?

Boise, Idaho

John L. Scott

Asking Price: $1,850,000
Square Feet: 5,500
Bed Rooms: 4
Bathrooms: 5

This lakefront property in nearby Eagle sports a secluded, private setting. Inside there is a chef's kitchen and architectural details, such as interior columns, tray ceiling and hand-hewn beams.

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How Much Can You Buy for$1 Million and Change?

Fayetteville, Arkansas

www.barberre.com

Asking Price: $2,690,000
Square Feet: 7,506
Bedrooms: 5
Bathrooms: 4.5

Yes, the price is far beyond the budgets of most Americans. But is this a gated mansion in Arkansas, or a country estate in Europe? Along with high-end interior decor from marble floors to a designer kitchen, the media room includes five TVs and a wetbar. The grounds include a pool, spa, fountains and a guest house.

MORE:
What $250,000 Buys You
What Can You Buy for $500,000?
How Much Can You Buy for $750,000?

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How Much Can You Buy for$1 Million and Change?

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Raleigh, North Carolina

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Sacramento, California

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Austin, Texas

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Des Moines, Iowa

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Houston, Texas

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How Much Can You Buy for$1 Million and Change?

Provo, Utah

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How Much Can You Buy for$1 Million and Change?

Omaha, Nebraska

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How Much Can You Buy for$1 Million and Change?

Colorado Springs, Colorado

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Boise, Idaho

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How Much Can You Buy for$1 Million and Change?

Fayetteville, Arkansas

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