Million-dollar homes in ‘undervalued’ cities

Got a million dollars to spare?

Despite fears that the real estate market is a bubble that’s ready to burst, there are some U.S. cities where home prices are still “undervalued” and a million dollars can still get you a very plush pad.

In a special series, CNBC traveled to Memphis, Tenn., Macon, Ga., Syracuse, N.Y., and Salt Lake City, Utah — the four most-“undervalued” real estate markets in the country, according to a recent survey — to see what kind of home $1 million can buy.

From a faux Monticello in Macon to a Memphis manse where you can live like a king, here are some luxurious homes in the $1 million price range. Click on the video links below to watch CNBC’s reports on the most-“undervalued” housing markets.

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