Thinking about buying a second home? The time is right. Sales of investment homessurged “an extraordinary 64.5 percent” in 2011, according to the National Association of Realtors.
If you’re wondering which markets offer the best deals, head for the sun, says Barbara Corcoran, founder of the Corcoran Group and now on ABC’s “Shark Tank.”“Sunny destinations hit hard by the bursting real estate bubble have bargains galore,” she says.
|Las Vegas, NV|
Consider buying if: you love the dry desert heat and the glitz, glamour and gambling of the Strip.
Median home price: $110,000
Consider buying if: you want a tropical locale that offers easy in-and-out travel. The city also has several major league sports teams, so it’ll be easy to root, root, root! for the home team.
Median home price: $102,000
Consider buying if: Old-world charm and small-coastal-town friendliness top your list. Beaufort boasts beaches that rival neighbor Hilton Head Island, and it’s just 90 minutes from Charleston.
Median home price: $150,000
|The Hamptons, NY|
Consider buying if: you’ve got a lot of coin to drop. Synonymous with high society, the Hamptons are the summer playground for New York-area’s most affluent—yet many properties have appealing price tags.
Median home price: $580,000