Best places to buy an affordable vacation home

The housing bubble popped painfully in many popular second-home areas - including these. Median values fell 10% to 20% in the past year alone and are expected to bottom in the next 12 months.

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Hyannis, Mass.
Median home: $244,000

What it's like: You don't have to be a Kennedy to afford a perch in this picture-perfect Cape Cod town, which boasts four Nantucket Sound beaches within walking distance of shops.

Check out: Homes surrounding Hyannis's downtown, many of which have been upgraded recently.

NEXT: Montague, Mich.
Last updated April 17 2009: 9:04 AM ET
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