Nominations to our list of ideal getaway locations with investment potential range from Oregon to the Gulf Coast to upstate New York.
By Liz Pulliam Weston
One of the few pieces of memorabilia I have from my late grandmother is a carefully tended scrapbook detailing the building of her summer cottage.
It was a tiny place, really, by a little lake in Wisconsin. But she lovingly immortalized each stage of its construction and decoration. Two typed letters recounted the site selection and the building process. Snapshots preserved the cookouts, fishing derbies and long weekends the extended family enjoyed there.
My grandmother wasnt unusual; people tend to be passionate about their second homes. I think thats why so many of you responded to our story, The top 10 places to buy a second home, by nominating your own special mountain retreat, beach resort or lakeside getaway.
Not everyone cared about investment potential. (I should note that investment potential was pretty much the guiding light of our earlier picks, which were based on traffic at the EscapeHomes.com Web site.) But many of you noted that your second properties were appreciating quite nicely as others discovered your special places.
Since you wanted to share, were going to let you. Here is a sampling of some of your nominations for great second-home markets, in no particular order:
Red Lodge, Mont.
Robert Atkinson of Anchorage, Alaska, spent two years traveling the West looking for the perfect place and believes he found it about an hour outside Billings. But lets let him tell it:
Not a boutique town with that air of artificiality, but a real place in a stunning location at the base of the Beartooth Pass (which leads to Yellowstone National Park) along what some have termed the most beautiful road in America. Turn-of-the-century architecture with a real downtown that has not been 'bled off' by fringe strip malls; a continuous series of lively events throughout the year and a nice-sized and friendly ski run. . . . Hey, what more could you want?
Daufuskie Island, S.C.
Scott Buchanan of St. Petersburg, Fla., suggested we check out this beach community, which is the next island over from the much more famous Hilton Head.
In fact, Daufuskie Island is like Hilton Head used to be, writes Buchanan, with beachfront lots for less than $1 million and a substantial number of off-the-beach lots at less than $100,000.
As such, the area is drawing folks trying to get away from the more famous islands prices and congestion -- which is a double-edged sword, Buchanan admits.
Many residents think -- and fear -- that (Daufuskie) is about to take off, he writes.
Cannon Beach, Ore.
We mentioned in the previous story that decent weather is usually a hallmark of a good vacation town, but many people love this seaside town for the exact opposite: its dramatic winter storms, with huge waves, driving rain and howling winds.
Sacramento resident Jeff Wallack has his second home there and looks forward to the annual Stormy Weather Arts Festival (Nov. 7-9 this year). Less hardy tourists enjoy summertime kite and sandcastle festivals. Wallack also touts the restaurants, beautiful inns and the live theater as attractions. The beach itself is sublime, dominated by Haystack Rock. And all less than a two-hour drive from Portland.
Plymouth, Vt.
The home Warren Evanko bought in this central Vermont town three years ago for $90,000 is now worth about $225,000, thanks to the opening of the new Bear Creek Mountain ski resort nearby. Thats big doings for this New England town of about 500 souls, more or less. Previously, the towns big claim to fame was as the birthplace of Calvin Coolidge.
Evanko, whose primary home is in Tewksbury, N.J., writes that a place similar to his would cost more than $1 million in more established ski resort areas like nearby Killington. He believes Plymouths prices will continue to rise as more skiers discover the new resort.
Ruidoso, N.M.
The name, which means noisy in Spanish, doesnt sound like it would portend a peaceful vacation retreat, but Deborah Johnson of Alameda, Calif., swears Ruidoso is a gem. She says her second home there has doubled in value since she bought it six years ago. Heres her laundry list of the areas attractions:
They have a $22 million performing arts theatre (The Spencer Theater), three lakes, seven golf courses, Ruidoso Down (which is) the richest quarter-horse race track in the country, Lincoln National Forest, home of Smokey the Bear, White Mountain wilderness, Inn of the Mountain Gods Indian Resort and Casino, Ski Apache with 72 runs . . . tall pines, mild summers, snowy winters, and it's close to Carlsbad Caverns, White Sands National Monument, and the Space Museum in Alamogordo.
Phew. Oh, and the name? Heres the explanation Johnson gives:
The river area is surrounded by mountains and pines, so the sound tends to echo, she writes. Thus it was called the noisy river, Rio Ruidoso.
Lake of the Ozarks, Mo.
When Tom LaTurno retires, it will be to this playground in Central Missouri thats a three- to four-hour drive from St. Louis, Kansas City or Branson. The Danvers, Ill., resident has visited the area for more than 20 years and plans to build his retirement castle there next year.
The lake and the whole area are beautiful. The recreation opportunities are endless, he writes. Thousands of people have built summer homes and retirement homes all around the lake.
For those not content with Mother Nature, the area has plenty of other attractions, including a casino, a winery and the go-karts and T-shirt stops of an area known as The Strip.
Olcott Beach, N.Y.
Resident Mark Williams is convinced this community, located on the shores of Lake Ontario, is being unfairly ignored.
Williams writes that Olcott Beach used to be a retreat for Victorians living in nearby Buffalo. It continues to have affordable, albeit modest homes, swimming, boating, sailing and trout fishing derbies galore. And, on a clear night, you can see the light of Toronto from the shore.
More importantly, (its) safe and quiet, literally a place where many residents still don't lock their doors, Williams claims. Hes convinced the areas lack of fame is due to the overshadowing of NYC and Long Islanders who think there is nothing beyond their little overpriced island! Buffalo and Rochester are a bit more than an hour away. There are fairly famous waterfalls on the nearby Niagara River as well.
Harbor Country, Mich.
A resident of the area, Ronald Farina of New Buffalo, highlights the riches-to-rags-to-riches history of this area on the southwestern coast of Lake Michigan. Once an area of fine homes and vacation cottages, the region fell into serious decline after World War II, only to be brought back by the determined efforts of a local real estate agent. Eventually, people in Chicago and other cities began rehabbing the lakeside homes and estates as second homes. Inns were opened, trendy boutiques blossomed, and a vacation area was reborn.
Attractions include beaches, wineries, arts festivals, antique stores and pick-it-yourself berry farms in the surrounding countryside.
Gulf Shores, Ala.
Charles Shaw of Mobile, Ala., thinks this area may be one of the hottest real estate markets in the United States. It certainly has its share of attractions.
Besides beaches and fishing, the area offers plenty of history, including a fort that dates to the 1500s and a harbor that was central to a Civil War battle. Mobile with its antebellum mansions is about an hour away. New Orleans is two hours beyond Mobile.
Shaw is an appraiser who has seen bidding wars erupt lately over condos in the area and in nearby Orange Beach.
San Luis Obispo, Calif.
Roughly halfway between Los Angeles and San Francisco, the Central Coast area that includes affectionately nicknamed SLO has stunning countryside, beaches, fishing, camping, vineyards and more. Downtown features a mission from the Spanish colonial era, as well as good restaurants and shops. Its also a college town, which brings in an intellectual liveliness missing from some other getaways.
Another plus, says resident Robin Godfrey: no traffic jams -- at least not the human kind. A little farther north, and you can spot gridlock on the beaches as massive sea lions pull up to the sand in droves.
This country is the last of the best, she contends.
Liz Pulliam Weston's column appears every Monday and Thursday, exclusively on MSN Money. She also answers reader questions in the Your Money message board.
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