As far as resell goes, well there is unfortunately no good answer to that question. Many analysts state that over the next 2-3 years we will see a leveling and rebound of the market. Who knows. With all things considered in the country right now it is anyone's guess. I know that is far from a definative answer but it is the best one I can give. Anyone that tells you otherwise (market condition in 5-7 years that is) is just blowing smoke.
We are showing more and more property every week as Spring gets close. There are many different vacation/rental properties available in a number of price ranges. Do your due diligence and find what will work best for you and your family. Be conservative and the next 5-7 years should have only positive things for you.