David Hehman knows a few things about the second home market. Hehman is CEO of San Francisco–based EscapeHomes.com, a Web site that connects people interested in buying and selling their second homes with real estate agents who can do it for them. While some attention has been focused on the woes of the U.S. housing market and an overall softening of the real estate market, few of those problems have migrated to the second home industry, according to Hehman.

“Historically, if the primary market was slow, the second home market would be even slower. We’re not seeing that today,” he says. “I think largely that’s because supply at an aggregate level is still strained. There are certain destinations where you just can’t build more, like Nantucket.”

David Hehman knows a few things about the second home market. Hehman is CEO of San Francisco–based EscapeHomes.com, a Web site that connects people interested in buying and selling their second homes with real estate agents who can do it for them. While some attention has been focused on the woes of the U.S. housing market and an overall softening of the real estate market, few of those problems have migrated to the second home industry, according to Hehman.

“Historically, if the primary market was slow, the second home market would be even slower. We’re not seeing that today,” he says. “I think largely that’s because supply at an aggregate level is still strained. There are certain destinations where you just can’t build more, like Nantucket.”

The resiliency of the second home market can be expected to continue for at least the coming decade, according to a survey conducted last year by the National Association of Realtors (NAR). That’s due largely to the substantial (and growing) influence of the baby boom generation. Baby boomers, the study points out, are increasingly eyeing second homes as a good investment. But take a look at some of the most popular locations for second homes — Palm Springs, Myrtle Beach, Cancún — and it’s apparent that the trend is about more than just getting a good return on investment. “The number one priority is recreational interest,” says Hehman.

Places where it’s easy to engage in activities like skiing or golf, or less strenuous pursuits like lying on a sandy beach, have always been a magnet for second home buyers. Indeed, according to the NAR study, two-thirds of respondents cited proximity to water — a lake, a stream, or an ocean — as an important attribute in a vacation home. Thirty-nine percent wanted to be close to recreational or sporting activities, and 31 percent wanted to be near the mountains or other natural attractions.

This zest to be in a place that offers easy access to activities people are passionate about can only be expected to continue. Not only are baby boomers the primary drivers of the second home market, they’re also adventurous, fitness oriented, and, importantly, wealthy enough to buy into what Hehman sees as an emerging trend. “You definitely see a trend toward luxury and service,” he says.

Here, we present a sampling of some of the very best places to look if you’re in the market for a second home near great fishing, skiing, beach activities, or golf.

Gone Fishin’

It’s hard not to think of Cuba when someone mentions Ernest Hemingway and fishing. It was the legendary author’s longtime home and the setting for The Old Man and the Sea, his novella about an old man’s quest to land a giant marlin, which won Hemingway the 1954 Nobel Prize in Literature. But Cuba isn’t the only Caribbean island where the hypermasculine Hemingway spent time writing, fighting, boozing, and fishing. In the 1930s, the author lived for a time on the tiny island of Bimini, in the Bahamas, and reportedly did some of his best sportfishing there. In fact, his book Islands in the Stream is said to be inspired by his time in Bimini.

First discovered in the 16th century by Ponce de León on his quest for the Fountain of Youth, Bimini — located where the Gulf Stream hits the Great Bahama Bank — is ideally situated for catching bonefish and big game fish. Just 40 miles off the coast of south Florida, it’s also easy to reach yet still feels secluded. “By plane it takes you 15 minutes to get here,” says Sean Grimberg, a partner with Capo Group, which is developing the Bimini Bay Resort. Its condos and marina complex are already open, and a 700-acre hotel will open in 2009. “A group of people go kite surfing from Miami Beach to Bimini a couple of times a year,” Grimberg adds. “The proximity is unbelievable, and yet you are in the Bahamas.”

While the Bimini Bay Resort will have the wide variety of attractions expected at an upscale resort — including a spa, infinity pool, casino, waterfront restaurant, and Robert Trent Jones Jr.–designed golf course — the fishing will undoubtedly be a big draw for many second home buyers. It certainly was enough to attract the BXRL Fishing Tournament, a $2 million competition that is broadcast on ESPN. “For them to choose Bimini, it’s not because it’s close to Miami. They chose it because it’s among the best fishing in the world,” Grimberg says.

The resort’s architecture is Bahamian-inspired, and most of the pristine, saltwater taffy–colored homes have a view of the water. The developers are also intent on making it easy for anyone who wants to hook a billfish, wahoo, tuna, or snapper to do so. Not only will the resort have its own boat that can be used for charter trips, it also has arrangements with local guides and anglers who can lead people to the best fishing spots. When the fish are caught, the resort will help get them ready to eat. “You can take them back to the restaurant, whether it’s at the pool or at the fine-dining restaurant overlooking the ocean, and they’ll grill up your catch for you,” says Grimberg.

Bimini doesn’t have a stranglehold on fishing. “The most prominent sport in Costa Rica is fishing. The deep-sea fishing is very well appreciated,” says Martin Elortegui, vice president of marketing and sales for Lionstone Development, which, along with Grupo Inmobiliaria Génesis, is building the St. Regis Resort and Residences Costa Rica in Playa Coyol on the country’s central Pacific coast. The St. Regis, with a large spa, fitness area, and homes starting at $800,000, is conveniently located next to Los Sueños Marina, the largest marina in Central America. Guests and property owners will be able to launch their ocean forays from Los Sueños, or simply take advantage of the vessels the St. Regis owns. As part of the fishing activities for guests, the hotel will have two boats to rent.

Hit the Slopes

Bill Shoaf is realistic about how much skiing he’s going to do. Although an avid skier and a resident of Park City, Utah, one of the world’s skiing meccas, Shoaf understands that a vacation spent carving the slopes from sunup to sundown probably just isn’t in the cards now that he’s middle-aged. “As we get older, we don’t seem to ski as long as we used to, or at least as long as we think we all did,” he says with a laugh.

Rather than bemoan the fact that for most of us skiing is only part of the experience of a trip to the mountains, Shoaf found inspiration in it. As founder and managing director of Cloud Nine Resort Clubs, Shoaf planned and developed the Sky Lodge, which will open in downtown Park City at the end of this year. “We believe very passionately that, first of all, a ski vacation home is more than just ski in and ski out, that there is a whole other aspect of what do you do after you ski when you’re on vacation,” he says. By situating the Sky Lodge — which includes 22 residences, whose owners can enjoy the spa, restaurants, and concierge services available to hotel guests — on historic Main Street in old-town Park City, Shoaf is attempting to give residents the benefit of being in a bustling town, in addition to easy access to great ski resorts like Deer Valley and Park City Mountain.

“When you are done skiing, you can step out the door,” says Shoaf, who worked for a decade acquiring the land and battling his way through a rigorous permitting process to make the Sky Lodge a reality. “At your fingertips are a multitude of restaurants, places to go dancing, shopping, or just walking up and down the street. When you are done with your day of skiing, you’re in the heart of the town, rather than sequestered up the hill.”

Across the western United States — elsewhere in Utah, as well as in Colorado and parts of California — there are second home options that combine proximity to fantastic skiing with easy access to cultural events. In places that are less well known than Park City and Jackson Hole, prices can be a lot more affordable too. But the search for a good ski home doesn’t have to end at the U.S. borders. Don Campbell, author of Real Estate Investing in Canada, points to Alberta as a great place to consider. Calgary, which hosted the 1998 Winter Olympics, is a bustling city with a strong economy that has Canadians flocking there in unprecedented numbers. Campbell compares Calgary to Denver, minus the sprawl, and says Americans who are attracted to relatively affordable real estate prices, an urban lifestyle, and, of course, good skiing should give it a look. “In just an hour you can reach some of the best skiing in the world,” he says.

Beach Fun

For some people, no amount of diversions — even spa treatments and great restaurants — can make a skiing trip all that enticing: cold and snow are to be avoided, not sought out. To them, the ideal second home is located in a place that gets drenched by the sun and is near sand and the ocean. Fortunately, there are plenty of options, both inside the United States and abroad.

One such location is Cancún, Mexico, which is undergoing a wholesale transformation in the aftermath of Hurricane Wilma in 2005. Prior to the storm, Cancún was generally regarded as a destination for the spring break crowd, a city with not a lot to offer people who were after good restaurants and upscale shopping.

That may still be the perception of Cancún for some. But according to Enrique Felgueres Jr., president and CEO of the real estate broker Vistas International Mexico, Cancún is in the midst of a profound transformation. “The government has invested a tremendous amount of money rebuilding the infrastructure, like the beaches, which were all eroded,” he says. “In addition, lots of investors from Mexico, the United States and Spain have been acquiring older properties, demolishing them, and coming up with either nicer hotels or with a very nice ultradeluxe residential real estate concept. The city as a whole is being upgraded big-time.

Felgueres and his company are major contributors to this effort to construct a new Cancún. Among the projects they’re spearheading is Puerto Cancún, which is being billed as a “city within a city” and includes a dizzying array of second home possibilities. Appropriately, given Cancún’s location on the shore, the centerpiece of Puerto Cancún is a development called Novo Cancún. Located on 25 acres of white-sand beach, Novo Cancún will offer buyers of its single-family homes and two-, three-, and four-bedroom condos plenty of opportunity to take advantage of their beachfront location. Indeed, the project includes a beach club and the area’s largest marina.

Just north of Cancún is another development geared toward second home buyers who want to spend as much time as possible in or on the water. The La Amada Residences are located on a plot of land with more than two miles of beachfront access. An upscale development, La Amada is on what Felgueres calls “the most spectacular beach in the world.” He says people will be able to easily access the coral reefs just offshore or explore the nearby wildlife sanctuaries. “It’s an incredible location. Anyone who has an affinity for the beach will feel immediately at home here,” he says. In addition to the ocean attractions and a large marina, La Amada will have spas, restaurants, boutique shopping, and two Greg Norman–designed golf courses.

Hitting the Links

Anyone who wants a home near the world’s best golf that’s also in close proximity to sandy beaches would do well to explore Myrtle Beach, S.C., which has been luring visitors since the early 1900s, when the first hotel was built in the area.

It’s a true mecca for golfers, with more than 70 courses on a variety of terrain and geared toward all skill levels. With median home prices in the $200,000 range, there is also a lot to choose from for second home buyers.

Tourists have long been drawn by the Myrtle Beach area’s pleasant climate, Southern hospitality, and incredible natural beauty. In particular, it’s a haven for beach lovers, since it’s located within the 60-mile stretch of shoreline known as the Grand Strand.

Dan Catalfumo certainly had the beach in mind when he first envisioned his oceanfront project, 2700 North Ocean, on south Florida’s Singer Island. “This is 8.8 acres of the most pristine beach you’ve ever seen,” says Catalfumo, head of Catalfumo Construction & Development, one of south Florida’s largest privately held corporations. After acquiring the land for 2700 North Ocean, which is just a stone’s throw from Palm Beach, Catalfumo knew he wanted to do something unheard of in most of south Florida. “We’re the only project in south Florida that faces southeast, so nobody can ever block the sun,” he says. “With typical condos on the beach in Florida, if you’re on the east, the last person in the row gets the sun and everyone on the north is blocked.”

A location like this doesn’t come around too often in south Florida, and Catalfumo was prepared to act quickly when the prior owner was unable to get his own development plans off the ground. At eight o’clock in the morning the day the property became available, Catalfumo was in the office of the owner with his checkbook ready. At nine, the owner came in and Catalfumo intercepted him, just before two competitors arrived. “I told him, ‘Here’s my check, I want to buy it,’” he recalls.

While the beachfront location was vital to Catalfumo’s project — which is extremely high-end, catering to people who have not just one second home, but perhaps two or three — its proximity to superb golf courses was also a consideration. “We are only seven minutes away from Palm Beach Gardens, which is the golf capital of the world,” he says. “The way we feel is that in the morning they get up and have their breakfast and overlook this incredible ocean and look at the Breakers Hotel and watch the cruise ships come in and out of the inlets,” he says. “And then they throw their golf clubs in their car and off to the country club they go. Guess where they get to come back to — that same incredible ocean view.”

Outside the United States, Costa Rica is emerging as a desirable vacation home and golf destination. Suzan Haskins, the Latin America editorial director of InternationalLiving.com, remembers what the country was like a decade ago, when she got married there. “In 1997 the major roads and highways in Costa Rica were in very bad shape,” she recalls. “We spent two weeks trekking about in a 4x4 — and although this trip will remain one of our treasured memories, driving was a challenge at times.”

Much has changed in the meantime, and a lot of it is likely to delight golfers. Along the Pacific Coast, Haskins says, there has been a tremendous amount of golf course development, with the construction of an Arnold Palmer–designed course in Papagayo and, in Playa Herradura, the La Iguana Championship Golf Course. A host of other golf courses, and communities either nearby or connected to the courses, are in the works or already under way in Costa Rica.

Palm Springs has long been a favorite choice of avid golfers in the market for a second home. While still popular with golfers — and understandably so, given the wide choice of courses — Palm Springs is getting plenty of competition from Arizona and, increasingly, Las Vegas. Not surprisingly, Vegas hasn’t exactly taken an understated approach in going after the second home golfing market. Perhaps the most appealing second home destination for golfers is Lake Las Vegas Resort, located just 17 miles southeast of the Strip, amid the desert and mountains, on a privately owned 320-acre lake. For golfers, Lake Las Vegas is hard to beat. It has three courses — two designed by Jack Nicklaus and one by Tom Weiskopf — with a fourth designed by Tom Fazio currently under construction. Both Golf Magazine and Golf Digest have highlighted Lake Las Vegas as among the best golf resorts in the country.

Although very much a resort, with a Ritz-Carlton, a Loews Hotel, a Montelago Village Resort, a village center, a marina, and a casino located on its nearly 3,600 acres, Lake Las Vegas is primarily a residential community, with plenty of options for those seeking second homes. The resort boasts 19 distinct neighborhoods, all designed to fit a Mediterranean theme, with names like Ravello and Sorrento. Among these distinct communities is a wide variety of housing options, including custom homes, waterfront villas, and, of course, all sorts of options on or near golf courses. Home prices at Lake Las Vegas begin in the $400,000 range.

It’s easy to argue that primary homes are, by necessity, somewhat utilitarian. They’re where we live, work, raise families, and build communities. Second homes, however, are more about dreams and passions — be it the place itself, or the activities the location allows us to pursue. With such a range of second home options these days, there’s sure to be a place where you can literally live your dreams.