Best Home For A Billionaire (Not To Mention Millionaires)

With Florida consistently making the top 5 states for depreciating home values, owners may be suffering, but buyers have a great opportunity to take advantage of prime real estate deals. On today's CBS Moneywatch blog, I share one truly unique property that is hot on the market in the Sunshine State.

You have no doubt heard of the trendy Florida Keys but have you heard of the 40 year-old community situated inside called The Ocean Reef Club? On the northern tip of Key Largo, the club has more than 1,700 water-front estates including private homes, condominiums and boat slips. And they don't call it "club" for nothing. Only the exorbitantly wealthy can gain access to the 175-slip marina, two 18-hole golf courses, tennis and lawn sports and entertainment for children.

Within this prestigious development, a new $11 million home has entered the market, and you're getting a lot more for your money than location, location, location. How about:

• A Giant gourmet kitchen?
• A 1,025 square foot master suite?
• Three floors?
  
• Guest quarters?
  

For all the details about the house, community and how you can live like a billionaire (or millionaire), read the full blog post.

Ilyce Glink is the author of several books, including 100 Questions Every First-Time Home Buyer Should Ask and Buy, Close, Move In!. She blogs about money and real estate at ThinkGlink.com, The Equifax Personal Finance Blog and CBS Moneywatch She is Chief Content Strategist at RealtyJoin.com, a community for real estate investor