April 10, 2009
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Property prices are depressed. Median sales price in Los Angeles County stands now as of April 2009 at $299,000 down from its peak of $588,000 in May of 2007. The median price dropped to $435,000 in May of 2008.The median price for a Los Angeles County homes stood at $ 232,000 in May of 2001. Especially entry level homes are cheap and their prices may not drop much further. It is time too look at buying again and bank foreclsoures where the action is now. To be continued...