SuperSecond Homes: Buy Now?

Bargain Hideways, says Barrons. Those wishing to upgrade their second or third homes may be paying heed:

Real-estate purchase volume among U.S. Trust clients, who have net worths of at least $5 million and investable assets of at least $3 million, increased 60% in March and April over the last two months of 2008, says Jan Reuter, managing director of residential real estate at U.S. Trust, Bank of America's private banking unit. For second homes, volume increased by 200%, she says, "and we are seeing a big increase in inquiries."

Examples of bargains that Barron's offers are debatable. Is a nice 8,000 s.f. house on Nantucket, with view, a steal at $7.5 million, down from $8.45 million? What about the megalodge in Big Sky, Montana, at $4.5 million, down from $4.99 million?

Bargains? Maybe. But rememember the battle cry of many a major-league baseball team: "Wait 'til next year."

P.S. Better have ten times U.S. Trust's minimum before taking on the expense of a supersecond home.