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Obama family's favorite vacation spot for sale

Barack Obama makes a statement at Blue Heron Farm on Martha's Vineyard, Mass., Aug. 26, 2009. Getty

(CBS) President Obama's favorite vacation spot is for sale. The owner of Blue Heron Farm is asking for $24.5 million for the 28.5-acre estate, according to The Hollywood Reporter.

Pictures: Barack Obama

THR reports the property, owned by William Van Devender, will officially be for sale in mid-September. The Obamas have vacationed at Blue Heron Farm for the past three years.

THR reports the site has been rented for as much as $50,000 a week. It has two residences, a full gym and equestrian facilities.

Read more here.

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