LOS ANGELES REAL ESTATE - SO VALUABLE + GETTING MORE AFFORDABLE - COULD IT BE INVESTOR HEAVEN? 

If you own a home here in SoCal, you're lucky. The latest report by the National Association of Home Builders announces that for the first quarter of 2008, Los Angeles remains the least affordable housing market with a population above 500,000. Los Angeles beat out the other top contenders, New York City; San Francisco; Salinas; San Luis Obispo, Calif.; Napa, Calif.; Miami; Sana Ana, Calif.; Santa Barbara, Calif.; and Nassau, N.Y. 

Los Angeles holds the prize for most precious real estate for the 14th consecutive quarter in first-quarter 2008, while Indianapolis remained the easiest to affordable major U.S. housing market for the 11th straight quarter... 

And here's the interesting twist - Los Angeles is getting more affordable...a new report from the California Association of Realtors found that housing affordability for first-time buyers was 44% in the first quarter, compared with 26% for the same quarter last year and 33% in fourth-quarter 2007. 

Values remain high, but prices are coming down. Could this be investor heaven? 

Jodi Summers

Sotheby's International Realty, Santa Monica

jodi@jodisummers.com

listing websites

http://www.2542manchesterblvd.jodisummers.com/

http://www.2340manchesterblvd.jodisummers.com/

http://www.3619motorave.jodisummers.com/

http://www.3760motorave.jodisummers.com/

blogs +

http://www.SoCalInvestmentRealEstate.com

http://www.SoCalIndustrialRealEstateBlog.com

http://www.SoCalOfficeRealEstateBlog.com

http://www.SoCalGreenRealEstateBlog.com

http://www.SantaMonicaLandmarks.com

http://www.SantaMonicaPropertyBlog.com

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I am a better investor because I am a businessman and a better businessman because I am an investor. - Warren Buffett