Charlie Sheen’s doing it, Tiger and Elin are doing it, and I think it may actually be a pretty good idea for the kiddos, in some cases. We know that Elin Nordegren made good use of her $110 million settlement from Tiger by plunking down $12.2 million for a 17,178-square-foot beach-front property in North Palm Beach. The new home is¬† just 10 miles from Tiger’s new pad in Jupiter, Fla.

The Huffington Post reported that Nordegren bought the two-story mansion–which has eight bathrooms and a 4,700-square-foot basement– what a great place for the kiddos to play!. She bought the home through one of her divorce lawyers, Dennis Belcher.

In October, the Swedish former model toured a $5 million penthouse apartment in Jupiter Island, where Tiger Woods’ new home is being built. Tiger recently said he’s about ready to move into his 12-acre, $50-million bachelor pad, which includes a 6,400-square-foot gym/media room/bar, an elevator, a reflecting pond, a lap pool, and a 3.5 acre elaborate beyond belief practice facility. It’s apparently set up so he can hit shots out of his second story window.

Tiger and Elin finalized their split last August but maturely agreed to live near each other for the sake of their children, Sam and Charlie. I have heard of cases where parents do buy homes to be near each other and the children when they are not married to the mother but still wish to participate in the child’s life, or divorcing couples who live a few doors away. And of course, there are those famous couples now who even vacation with their exes. I just think it’s all quite healthy! What do you think?

Want to win my heart for Valentine’s Day? Then snap up this little $65 million dollar estate on 8.04 acres on Jupiter Island, not too far from Tiger Wood’s estate.¬† Ariana Huffington, you should really consider this home as a great investment with your new millions. 9 bedrooms, 13.5 baths, 17,825 square feet. 172′ of oceanfront & 370′ on the Intracoastal Waterway with 6 buildings including garage space for 17 cars. Main house overlooks the Intracoastal, with formal living & dining rooms, great room, gourmet kitchen, wine room, library, den & combined media room & game room. Grill house adjoins a 50′ pool overlooking the Intracoastal, with tennis court nearby. Coach house features 4 car garage down, with 3 bedrooms, 2 baths kitchen and living room. Carriage house includes 6 car garage down, with gym & office up. Oceanfront guest house offers 2 bedrooms, 2 baths, kitchen and living room with something you wont need here, a fireplace. Boat shed will park 7 cars, or any combination of cars & smaller boats. Dock will accommodate a large yacht & includes 2 boat lifts for smaller craft. West lawn allows for a 5500 SF Putting Green with 1 Bunker & 1 Tee set up for 80 yd Pitch shots.

If you are mulling a location for your second home, here’s an article that is like a beacon of real estate appreciation light: the 50 most expensive small towns in the U.S. At first when I read this, I was sad: most of the towns are in New York, New Jersey, Maryland, Washington (state), Cali and Florida. (Jupiter Island, home of Tiger Woods, has been holding court at number two spot for a long time.) Those places are pretty far from me in Texas. But then the investment light-bulb went off. What can we learn from this list about making a sound investment in a second home? Let’s face it, we do not want to buy in a place where values are going to plummet. And no one really expects huge appreciation in this market short term. Long term is what it’s all about, and if I buy, I want a place my grand kids can say, boy that crazy granny of our’s was one smart cookie to buy this when she did. We could never touch this now.

So what do we learn from this list, no matter where we are buying?

1. Buy where other rich people are buying. I know this sounds like “follow-the-Prada” herd mentality, but there is a kernel of truth. Why has Aspen real estate always done so well? Because people with money, who are insulated from market turns and tuggles, live there. They don’t have to sell because they are underwater. They don’t get underwater. They weather the storm and hence, your neighbor’s property values are not about to go into the toilet.

2. Buy near a body of water. With the exception of a ski home, or possibly a mountain retreat, people have a natural inclination to flock to water. (I swear I stared this blog just to be able to buy a beach house all my own, somewhere.) Maybe it’s the evolutionary genes calling us back to the water, but look at this list and find me one spot that is not near water. Yes, there are storms and hurricanes and wood rot and oil spills but has anyone heard about the end of building on Florida’s Gulf Coast? Will Pebble Beach ever be underwater? I don’t think so.

3. Golf courses must be good for real estate value. I’m told that during the boom, a golf course was developed almost every day in the United States, which means we have a ton — way too many, in fact. And golf is a dying game. The younger gen doesn’t embrace it like our gen, and our gen is not even as golf hardy as our parent’s gen. Golf courses have had to make drastic changes to stay in business — go casual, offer amenities, go green. And they are costly to maintain so watch your HOA dues that may be shelling out big bucks for tees. Still, if there is a golf course nearby, it means something for friends to do when they get together. It’s an added plus and besides, the wealthy love to golf.

4. Activities are a must. You can only hike and bike so much, and getting fried on the beach is no longer fun nor recommended by dermatologists. A good second home community is not too far from great shopping, movies, restaurants, equestrian centers, wineries, skiing (if mountains), fishing, boating. One of my sources tells me he is seeking a resort with great snorkeling because not everyone can S.C.U.B.A., but even a 70 year old can snorkle.

5. Find a town where people don’t worry about locking their doors. The town is small but loaded with families. It is safe enough that small kids can have total freedom during the day. We used to ski in Utah at Snowbird when our kids were young. I’ll never forget the freedom I felt when I said, here are the keys to your room, you are free to go anywhere in the resort. We lived in a big city where they had to be shadowed, supervised and shuttled everywhere for protection. How refreshing it was for both of us to be able to navigate in a safe environment, much like most of us did growing up in the 1950’s and 1960’s.

Troy and Rhonda Aikman are, I guess, Dallas’s version of Tiger and Elin Woods, give or take some drama and a little less real estate.¬† Which totally reminds me that I have this exclusive shot of Tiger’s newly constructed backyard Olympics playground on Jupiter Island. You will not believe this place. Jupiter Island, I’m told, simply has to be seen to be believed. (I’m trying to get out there.) But here’s the inside scoop on this $50 million dollar prime Florida play land just completed by Tiger:

Besides his own personal golf course, Tiger’s outdoor exercise and training facility has a monster 100-foot length swimming pool, a separate 60-foot diving pool, and of course, the spa.¬†The separate swimming pools alone run an unheard of 160 feet, or the entire width of the house. There is also a full tennis/basketball court plus training track facility on the Aqua Complex. Now this doesn‚Äôt even include the inside workout facilities, which are state of the art.

Tiger was also very concerned about privacy, apparently. Most large¬†Jupiter Island estate homes have waterfall resort-style stone pools with lots of free form space for lounge chairs and entertaining, all to see and be seen. And these luxury pools are built with the Intracoastal or Atlantic Ocean view right behind them — waving to the yachts that pass by a fun past time. But Tiger‚Äôs deck is built with practically no space to lay out or entertain. (Concerns over skin cancer, perhaps?)¬† The view is of his own golf course with the Intracoastal practically a mile away. Tall trees block the course from view. The backyard was clearly built for professional training and Tiger didn‚Äôt waste any space.

And locals tell me that Tiger keeps pretty much to himself, mostly in his home. He has never been seen anywhere, not in the Gardens Mall in¬†Palm Beach Gardens , not in any restaurants golf courses or even at the¬†Bears Club .¬† Guess he’s just working on his game there is paradise 24/7. Oh if this photo is too small, click here for a bigger one.

All I want for Christmas is a beach home in Florida. Seems I’m not alone. Elin Nordegren Woods is also on the lookout, but she has a slightly higher budget than I do — about $4,000,000. And she is looking, I hear, on Jupiter Island, a sleepy little quiet island with 516 condos and only 18 buildings. And guess who lives there, too? (Like 20 minutes away.) Prices on Jupiter, I’m told, are not as soft as they are in Miami, Naples and God’s Got-Too-Much-Sun-Waiting Room, Fort Meyers. Elin is looking at one of the newer buildings on the island, built in 1998, with just 24 homeowners and a staff that pampers like the Ritz. It’s called the Carlyle.

The Carlyle is really the cream-of-the-crop on the island, sits on the land’s highest point, and sports 270 degree views from each unit. You want terrific sunrises and sunsets? You will have them every day, in every room. To the east are spectacular sunrise views of the Atlantic, to the west are unforgettable sunsets of the Intracoastal, and the north offers views the length of Jupiter Island as far as the eye can see.

Maybe Elin will be able to see as far as Tiger’s new compound?

Elin has seriously toured The Penthouse at The Carlyle, according to sources. The penthouse offers the ultimate in scenic views plus a 3,000 square foot rooftop sky patio, which is just unbelievably fabulous for entertaining.

Besides 4000 living square feet of stunning upgrades such as floating limestone floors and David Aultz (Palm Springs contractor) spherical and triangular ceilings, views, and even includes a 3-car garage and has its own boat dock and cabana bath available.¬†All included in an asking price of only $3,990,000. (If not, I’d make them throw it in.) Really, not bad for being right on the water. I may want to check out Jupiter Island!

Tiger Woods is one dude who appreciates, among other things,  second homes.

Jeff Lichtenstein of Christie’s Great Estates & Illustrated Properties in Palm Beach Gardens, sent us a first glimpse of Tiger Wood’s backyard and private practice complex –click on that photo, this is great House Porn:

“It appears he has one tee box in the southeast east corner to hit drivers. The entire area just west of the lap pool can be used to hit long, medium and short irons into any of the 4 greens. Each green is guarded by a single trap, except the green in the northwest corner which appears to have 3 pot bunkers.

Tiger has enough open space to practice his short game from any angle, any wind condition, which really appears what this practice area is all about.

His putting green is totally surrounded by dense vegetation. One wonders if he is trying to block out the wind by doing this or if he is cutting off both sunlight and air circulation. He probably has a sub-air temperature/humidity control system beneath the green, otherwise it would be worthless in the heat of the summer, especially if the grass there is bent or some northern grass.

I’m curious as to what type of grass he planted, both on the putting green and throughout his practice area. The denser Florida or tropical grasses react quite differently with the club head and ball, and Tiger  may find he is switching grasses a number of times until he finds the right mix.

I would have thought he’d have 2 putting greens, each with different grasses.

Another curious thing I found is the placement of this particular Jupiter Island home so far back from the intracoastal. Usually, homeowners want to be very close to the water, but I believe Tiger wanted his practice area close to the water, so he reversed the norm, creating another unique signature estate among the Jupiter Island homes.”

Thanks, Jeff and Cary! I am liking Singer Island, founded by sewing machine magnate Paris Singer in Palm Beach County. Supposedly this island was purchased for his mistress, who did not like it (picky) and is home to golfer Michelle McGann and rocker¬† Clarence Clemons. Pretty upscale homes ans condos, but have they ever finished repairing the Tiara? Looks like you’ve got some gorgeous properties there. Any great hot deals? How about I come out, visit, rate, and tell the readers of SecondShelters all about it?