After reading Michael Petrelis' post on Sarah Palin's financial disclosures, I decided to do a little research on the properties Palin listed in her latest financial disclosure form. A very quick google search yielded the Matanuska Susitna Borough's – where the Palin's reside and own additional properties – land ownership site, which held records for all the properties listed in Palin's disclosure form.
From that site I was able to find that in addition to their primary residence - land and house appraised at $552,100 - they have joint ownership of 3 unimproved properties with Scott Richter with a total appraised value of $47,300. Todd Palin also has joint ownership of a property with Tod and Ron Richards and Carolyn Nson at an appraised value of $55,400. This property has a building, which accounts for about half of the property's worth, or $28,400. This property may very well be a business, and if not is probably just a small hunting lodge, but I'll leave that research to another.
A listing of all properties owned by the Palins can be found here.
Ever since McCain's large number of houses (properties?) were brought up to demonstrate excessive wealth, and thus imply his inability to associate with average citizens, I've been doubtful of the nature of the actual properties owned. Real estate ownership is a sound investment, and those with even modest resources will buy multiple properties as investments or for business ventures. As the Palins' records show, these are not expensive vacation houses, but rather, small properties used for various purposes or as investments. I am not claiming that McCain only owns small properties apart from his main residence; I'm sure he has several vacation houses, but my guess is that quite a few of his (actually Cindy's) properties are not expensive weekend homes.