Sports stars has a habit of retiring to Florida where the weather is warm and the living is easy. Luxury Real Estate recently announced the listing for a Jupiter, Florida home belonging to Hall of Fame third baseman Mike Schmidt of the Philadelphia Phillies.

The five-bedroom home is located in the Admirals Cove Golf and Yacht Club in Jupiter. Schmidt bought the home in 1991, two years after playing his last major league game. The 8,500 square foot home has been renovated with new kitchen appliances, a butler's pantry and wet bar, master suite with his and hers baths, exercise room, media room and study. The home has a pool and a full guest house with a bath. It has 120 feet of water frontage with a dock suitable for a large yacht. A golf membership must be sold with the home.

Rob Thomson, of Waterfront Properties says that Schmidt and his family love the Admiral Cove community and are looking for a more suitable home within the community now that their children have grown up. This home is listed at $4.5 million.

I have to show you this one with a little disclaimer, this home was not chosen as an estate of the day for its fine interior decor. In fact, if you have an aversion to bright colors and Miami VIce funhouse styling, don't click through. From the exterior this home on Captiva Island, Florida looks like your basic big white beach house but inside it is a carnival of color. The five-bedroom home has a huge great room with a dominated by giant windows showcasing an ocean view that must compete for attention with a swath of team carpeting. There is a tunnel-like home theater, formal dining room, breakfast room, office and more all decorated in a gumball colors. The home has a pool and spa, six-car garage and a beautiful boardwalk leading down to the beach. it is listed at $6.995 million.

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This week I'm checking out some celebrity estates that have been on the market a while but never got the estate of the day treatment Case in point, the home in Florida belonging to actor Burt Reynolds. Reynolds has been trying to sell for a long time and has trimmed the price multiple times. The 12,500-square-foot waterfront compound was once listed at $15 million. The Mediterranean-style home is on over three acres of land and borders a wildlife refuge. The main home has five bedrooms and there is also a two-bedroom guesthouse. The home includes a theater room (complete with a movie still of Reynolds as the Bandit), gym, and a billiards and bar room complete with what looks to be a stuffed bear. The home is now listed at $8.995 million which is a 40% reduction off the original price and it's been at this price for around six months so it may need another price cut to sell.

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Can it really be a year since I've checked out a house on Lake Drive in Boca Raton. Florida? I suppose so, it's been a year since I've been there to visit my family. Today's home is a seven-bedroom mansion right on Lake Boca. The home, created by architect Tom Benedict and builder Bill Szymanski, is luxurious but not quite as exceedingly lavish as some in the area. The open foyer and floating concrete staircase make for a grand entrance. The living room faces the lake and pool and has a bar with aquarium and multiple sitting areas. The home has two full kitchens, a home theater, study, library, gym and an elevator to tie it all together. The grounds include gardens, infinity edge pool, summer kitchen and private terraces. The home has 150 feet of waterfront with a boat and jetski lift and full power dock. And if there is anything I've learned about Lake Drive it's that the yacht out in front is at least as important as the car in the driveway. This home is listed at $19.95 million. You are going to need a big boat.

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This isn't my first Terra Bella estate of the day and might not be my favorite (the California Terra Bella from last year has my heart) but it's still rather charming. This Terra Bella is located in the gated community of Indian River Shores in Vero Beach, FLorida. It has approximately 125 ft. ocean frontage on 1.25 acres. The six-bedroom home is your standard Florida Mediterranean but it has a lot more grace than some of the newer homes I've seen in the area. The use of dark wood, tile and arches gives it more of a classic Californian look and I'm always a sucker for a house with circular space. The property includes a separate guest quarters with a living room, circular dining room, kitchenette, and balcony over the three car garage which has mahogany garage doors, cobblestone pavers in the auto court and an adjacent circular wine room with a computerized inventory control system. The outdoor space includes a pool surrounded by grass and tiles which doesn't offer much space to lounge around but perhaps that's what the nearby ocean is for. This home is listed at $8.75 million.

For the next couple of weeks we will be checking out some homes in the most expensive zip codes in the United States, up today, 33404. This zip code is is in the Riviera Beach/Singer Island section of Palm Beach County, Florida and has a median price of $2,890,000 with an appreciation rate of 563% since 1990. Singer Island was founded by Paris Singer, the Singer Sewing Machine company founder who, rumor has it, bought the island as a present for his mistress.

Much of the Singer Island area is given over to condominiums which so far don't seems to have suffered the real estate disaster that has plagued so many Florida condominiums. Perhaps this is because there is only so much of Singer Island to go around. This condo is in One Singer Island, a new complex stocked with amenities that include a private and enclosed parking garage, lobby with a grand salon, social room and Versace patio, private theater, wine room, billiard room, fitness center and a pool and spa deck. There are just 15 residences in the building. The first five floors have two residences per floor. The top five floors have one "ocean to intracoastal" penthouse each. This unique unit is the top full floor and it has a truly dramatic feature, a spiral staircase leading to your own private rooftop terrace with a lounge area and sheltered hot tub. This apartment is listed at $5,995,000.

For the next couple of weeks we will be checking out some homes in the most expensive zip codes in the United States, up today, 33480. This zip code is is in the exclusive town of Palm Beach in South Florida and has a median price of $2,910,000 with an appreciation rate of 426% since 1990.

Palm Beach has been a place for the wealthy to wait out the winter since Henry Flagler, a founder of Standard Oil, made the Atlantic coast barrier island accessible through his Florida East Coast Railway. The town was incorporated in 1911 and way by then home to many beautiful mansions. Over the years the building has continued and Palm Beach is one of the most affluent areas in the U.S. and is host to a variety of luxury events. Over the past couple of years there have been many homes in the $30-$40 million range in Palm Beach and since 2005 Donald Trump has been trying to sell a home in the area for the astronomical price of $125 million.

Today's home is nowhere near that expensive but it is still a display of Palm Beach wealth. The home is located on directly on the Atlantic and has a fantastic beachside pool and cabana. There are five bedrooms total and the scale of the home, include what looks to be a large marble art gallery, all continue the legend that is Palm Beach. This home is listed at $25.75 million.

For a while it seemed that Miami might be one part of Florida that was if not immune from the real estate slowdown, protected a bit by its size and cachet. But now prices have started to plummet and putting many real estate speculators in trouble. The Miami skyline is dotted with cranes as buildings continue to go up but thousands of condo units are waiting either unsold or in foreclosure.

The numbers in Miami are startling, According to a report in Canada's Globe and Mail, prices citywide were 17.5 per cent lower in December than a year earlier with the value of some condos down by as much as half. And as more condo projects in progress are finished up the numbers could even go lower. Condos with sexy names and alluring promotions such as Jade and Vue are now facing millions of dollars in mortgage defaults and foreclosures. It's been a disaster for both investors and developers. In fact, two prominent Miami condo developers who were facing condo problems have died of heart attacks.

The problem in Miami is just part of Florida's boom and bust cycle. Whole towns sprung up over the last few years and many have gone bust just as quickly often leaving half-built homes abandoned (for a great photo series on this check out this piece on Rotunda Sands in Mental Floss). At this point, practically the entire state of Florida is in some sort of foreclosure crisis making it easy pickings for those from across the country and around the world looking for a real estate deal. Both homeowners who owe more than their homes are worth and developers forced to sell condos at cost or in some cases for even less than it cost to build them are ready to accept all sorts of offers.

For now, the temporary bandage seems to be real estate auctions. The other day I mentioned that two prominent real estate firms in Florida are working with a major real estate auction company. And just about every day I learn of a new auction of a condo complex in Florida. Many of the auctions are absolute, meaning that bidders will take whatever they can get. The good news is that this slump cannot last forever and for those who have the means to pick up a warm weather getaway there are major bargains to be had. Maybe this is the time for Miami developers to reach out to Russian investors looking for a place to wait out the winter chill.

We visited North Bay Road in Miami Beach last month for an estate of the day but a reader, Marie, sent me the link for this one. I figured it was worth sharing with you. I'm not quite sure what sort of happy money cocktail designers are sipping along North Bay Road but it makes for some interesting decorating decisions, especially as newer owners with lots of money try to bend older homes to their will. The last estate we saw in this area was a strange amalgam of modern and absurd baroque. This one is a less obvious and more lavish case, but there are still some interesting juxtapositions here. The current owners seem to have a hankering for the modern, hence the new spare and bare contemporary kitchen and bathrooms, but this home still has the particularly Miami affliction of gold paint details on the walls. The home is over 10,000 square feet with nine bedrooms and it has a nice chunk of bay frontage with a dock. This estate is listed at $18.9 million.

When a home comes on the market for an exorbitant amount the question immediately asked is, could it possibly be worth that much? And I find myself asking that after looking at the listing for Greg Norman's Jupiter Island, Florida home. We first heard about this home a few weeks ago but now the listing is up. As for as Florida real estate goes, Jupiter Island seems to be one of the few places not in an danger of a slowdown. After all, this is the rarefied spot where Tiger Woods spent around $40 million on a house he tore down.

Norman's golf paradise includes nine bedrooms over six structures. The home, known as Tranquility, has been anything but lately with a rather acrimonious divorce between the Normans. The estate is eight acres with a four-bedroom main house that was built in 1902 and has wine storage for 2,500 bottles. The main house overlooks the Intracoastal Waterway with 370 feet of waterfront, and a 140-foot dock that can accommodate a large yacht. A two-bedroom guest house faces the Atlantic and has an open porch for taking in the ocean views. There is also a grill house with a tennis court and a 50-foot pool. The listing says the estate comes with a coach house, with a four-car garage and three bedrooms and a carriage house which as a six-car garage, gym, steam room, boardroom and offices. A boat shed will also hold seven vehicles.

As the Real Estalker Mama reports, the couple bought the home in 1991 for just $4.9 million and it has been assessed at just $21 million. It's a nice place, a really nice place but $65 million? That might just be a stretch. I'd say somewhere in the $30 to $40 million range might be where this will sell at.

UPDATE: The price has been dropped to $47.5 million. It is now back up to $60 million.

This home in Sanibel, Florida is the type of home you hope a friend buys so that you can can set up shop in the guest house, which is actually more appealing than the main home. The home is located on the Gulf of Mexico with 314 feet of Gulf frontage. The main house has a huge kitchen with granite countertops and an odd collection of wrought iron chandeliers hanging above them. The large home also has a great room with a fireplace and marble floors, a library, formal dining room, private elevator, 6+ car garage and tennis court. The large screened lanai features a built in grill and views of the Gulf. You could live in the master suite alone, it has a large bathroom, kitchenette, exercise room w/private bath, fireplace, laundry and sun deck. The guest suitehas a nice size bedroom, bath, sitting area and great views of the pool. But the guest house is really the place to be. It has three bedrooms, three bathrooms, a beamed great room and a screened porch overlooking the Gulf. This home is listed at $15.75 million.

Nearly two years ago we first learned of the $38 million home Tiger Woods bought on Jupiter Island in Florida. Now Tiger has torn down his 13-year-old mansion to create a new and more grand home. Tiger's architects have created a 10,000-square-foot two-story home with a glass elevator, a wine cellar, home theater and a games area. Tiger also bulldozed three other large houses, two swimming pools, basketball, tennis and volleyball courts and a mini-golf course on the property. These will be replaced by a boat house, golf training studio, three-car garage and guest house. There will also be a tennis court, gym, pool, lap lane and a small golf course and a pair of boat docks where Tiger can dock his 155-foot yacht, Privacy. The redevelopment is expected to cost in the $15-$20 million range. The home should be ready for Tiger, his wife Elin and their baby daughter Sam in 18 months. Meanwhile the family can enjoy their other homes, they have another one in Orlando, Florida as well as in California, Wyoming and Sweden.

This home in Montverde, Florida is a new model but is set apart from the usual Florida Mediterranean by its Moroccan touches. It is a Carmen Dominguez model which was featured in the 2006 'Street of Dreams.' Spectacular notes include the cascading fountains and pools which all have a unique stepped look and light up in different colors at night. There is a large summer kitchen, courtyard, media room and five bedrooms total. The guest suite appears to be a theme room with a round bed on a tiled dais and a matching round bathtub. The swooping arches, heavy draperies and flourished fireplaces combine to make a home that is sumptuous but skirts the line into becoming a theme park of Arabian style luxury. It is listed at $7.9 million but looks to originally have been on the market for $8.5 million.

Today's estate on John's Island on the Treasure Coast in Florida is a rather grand home which has been adapted to family life with a cottage-cozy decor that doesn't quite match the bones of the house. The oceanfront home has a rather formal entrance with a columned facade and a 75-foot lap pool. The home's balconies and lower terrace areas are accessible from all the main rooms tempting one to open the windows or wander outdoors. The main floor includes the gourmet island kitchen, family room, dining room, living room, stately office, and study. The master suite and guest bedrooms have ocean views. The second floor is also home to a large stair landing with couches and a busy mural. The home has a boardwalk over the dune to the beach. Other features include a lower level game room, elevator, pool bathroom, two half-baths, storage rooms, and an A/C 3-car garage. The home is listed at $9.25 million.

Today's home goes by the name Overjoy, appropriate for a home that seems designed for joyous entertaining. This modern Florida home is lakefront in Windermere's Reserve at Lake Butler Sound. The home has won a bunch of awards for design and landscaping and has a modern style. Details of the five-bedroom home include art deco wall sconces, a gas fireplace with glass mosaic and Swarovski crystals in the living room, and Calcutta gold marble floors in the master suite. This home is listed at $11.9 million.