Ski Home Prices on a Downhill Slope

Although America's major ski resorts aren't feeling the frigid bight of foreclosures like many residential areas, they are experiencing one familiar phenomenon: Buyers looking for black diamond property and bunny hill prices.

From the Colorado Rockies to the Vermont Green Mountains, ski resort bargain hunters are out in force looking for deals. Unfortunately for sellers, a glut of homes has meant a downward slope for prices.

If nothing else, for those that need to sell, the real estate freefall is an equal opportunity scourge, hitting the well-heeled as well as the entry-level homeowner.

"I never thought I would see the day of million-dollar price reductions," Colorado real estate agent Karen Barrocas told ABC News. "It's definitely a buyer's market and the supply is much larger than the demand."