Saturday, September 10, 2011

California: More Vacation Homes Within Reach

Last year, Kelley and Jeff Barton bought their first vacation retreat in Mammoth Lakes, Calif., a ski-resort area about 350 miles from their home in Seal Beach, Calif.
At $200,000, the condo unit was a bargain considering it had been priced at more than $400,000 in the past, says Ms. Barton, 52. Plus, since the couple rent out the home when the family isn't using it, they're able to cover their mortgage payments and all their expenses -- and make a profit.
Lately, more people are wondering if the market is ripe for turning the dream of owning a vacation retreat into a reality.
Read more...  Wall Street Journal

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