Five popular bargain spots for a vacation home

It's that time of year when visions of beaches dance in one's head. Or perhaps you prefer a Rocky Mountain high. Whichever rocks your boat, now is the time to jump into a vacation home, real estate experts say.

"It's absolutely a good time to buy," says Ken Kamen, president of New Jersey-based Mercadien Asset Management. "In many resort areas, prices haven't rebounded because of all the inventory. And the economy is bouncing off the bottom." Let's not forget low interest rates, either.