(Palm Beach, Boca Raton, Delray Beach)
The market: "South Florida has long been the most sought-after U.S. destination to play and live in a country club community," says Mark Nestler, a partner in Nestler Poletto Sotheby's International Realty in Boca Raton. "Due to the softness in the industry, however, prices in this area have dropped 25 to 30 percent and now reflect price levels as they were in the late 1990s."
Location: St. Andrews Country Club, with two 18-hole private courses, one designed by Arnold Palmer, the other by Gene Bates.
Value: A steal? At nearly $3 million? Yes, because you're practically buying a small village. This pristine, 8,000-square-foot contemporary two-story home on a lake with golf course vistas features six bedrooms, a pool, library, gym, media room and billiard room.