Yesterday, Doc on the ‘ROQ reported the news that the average home price in the state of California is now $475,000 (up 25% in the last month). In Los Angeles, he continued, it’s now $400,000. Hmm..that’s not so bad. But here’s my question: WHERE?! We’ve been looking for a house for a little while, and the only place we’ve seen with houses in that range is Highland Park. I already know if you want to move to Diamond Bar or Covina you can probably find something liveable for under $400K. But what I want to know is, for those of us that need to stay central, what are the hidden gems? West Adams? Beverlywood? Where can buyers still find an (relatively) affordable house that’s not in the ghetto?
P.S.: I searched like mad for the source of the numbers that Doc reported, but couldn’t find anything. If you know, hit me up.