This is a decent time to buy resort real estate, at least from what I've seen. Generally I agree with what's said in that article. One thing to keep in mind, resort real estate doesn't always track along with general housing trends in the US. It's possible that if we see an uptick in the general stock market that we'll see resort real estate tick upward on a similar trend.
Now, one thing I haven't seen a lot written about with regards to resort real estate has to do with the massive "shadow inventory" that's lurking in this country. It doesn't get a lot of press, but the number of homes that are waiting to be foreclosed on, or the number of homes where the owners have simply stopped making payments, seems to be pretty large. Also, there's a lot of development in various stages of completion right now with the development either slowed or completely stopped. Resort real estate has been hit by this and I don't think anyone has a clue to what extent. Once the low to mid-range market has stabilized, and I don't think it has, I suspect we're going to see banks go after the high-end real estate. They seem to be VERY reluctant to do that right now. I know several homes that the owners have basically walked away from that the banks haven't even started foreclosing on. With that comes another set of problems in a ski environment - if the owners aren't paying the mortgage, do you think they're paying the heat and water bill?
So, if you're shopping, I'd recommend talking to some property management companies first to get a feel for how bookings are. Ask them what their take on the real estate market is and get them to recommend a realtor. Chances are one of their friends is a realtor, but they can offer you some good local advice. With regards to construction, you might find that purchasing a lot and building a custom home can be done for half the price compared to a few years ago. If you're looking for something in Summit Co or Big Sky, I might be able to refer you to some good contacts.