7 luxury vacation home deals

Vacation home prices fell 20% in 2011, according to the National Association of Realtors, and that has made for plenty of bargains. Here are some luxury properties in vacation hot spots across the U.S. that can be had a healthy discount.

Montauk, N.Y.
Montauk, N.Y.
Price: $2.4 million
Bedrooms: 3
Baths: 2
Square feet: 2,000

Situated on a bluff overlooking the Atlantic Ocean, this home's location -- and amazing views -- are a major selling point. But there are plenty of other reasons why this is a prime vacation property, says agent Janet Weimar.

A two-and-a-half hour drive from Manhattan, Montauk is a popular weekend getaway. It boasts one of the most beautiful shorelines in New York, with miles of sand beaches, six state parks and legendary fishing spots.

This home sits across from the beach at Hither Hills State Park, which also offers biking and hiking trails and cross-country skiing in the winter time. It comes fully furnished and has a palladium window that allows for views of the ocean throughout the entire living room area. There are also skylights, a fireplace and hardwood floors.

The sellers have rented out the home during the summers for years, charging $20,000 a month for July and $25,000 for August, but they could have gotten more, according to Weimar.

Even more enticing for potential buyers: The price was reduced late last year by $250,000, a nearly 10% discount.

For further information: Trulia

By Les Christie @CNNMoney - Last updated June 18 2012: 11:43 AM ET
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