Is it time to buy that dream ski home? With the real estate market in the deep freeze, there are some deals, albeit few steals. And the Russians are coming.
Ken Libby, a realtor in Stowe, Vt., recalls the boom years early this decade, when home prices rose 25 percent annually and a house sold on the day it was listed. “Everyone from Boston to Baltimore was buying property in Vermont,” he says. “I’ve been in this business 30 years, and I’d never seen that before—and probably won’t again.” Then came 2007’s mortgage crisis. Sales plummeted.