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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Montague, Mich.
Median home: $104,000

What it's like: Popular with Chicagoans for its beauty and affordable prices, Montague abuts White Lake, which connects to Lake Michigan and its broad, sandy beaches.

Check out: Lakefront property - prices there have fallen the most and are expected to rebound first.

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Last updated April 17 2009: 9:04 AM ET
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