This LA Times Story is reporting that the median price for a Southern California home last month was $408, 000, down 17.6% from a year earlier and 19.2%, on average, from peaks reached last year, according to research firm DataQuick Information Systems.
Read the whole story here about how there are now auctions weekly and for many the first line to buying a home. The issue is can you get a good price? What is the condition of the home. Will you pay too much?

https://www.latimes.com/business/la-fi-auction17mar17,1,6803302,full.story

Check out some of the foreclosure listing services to learn more. Many have 7 day trials.
We are now even seeing ads on tv during prime hours for foreclosure auction companies holding auctions.