Released: March 10, 2006

Best/worst neighborhoods to buy homes

Source: By Sara Clemence, Forbes

The south Los Angeles neighborhood of Watts has been notorious for many things, among them race riots, poverty and gang warfare. Now it can be known as a great real estate investment.

Over the past few years, rising property prices have rocked the state of California with an earthquake-like vengeance. Luxury subdivisions have filled hillsides, bidding wars have pumped up home sales, and teardowns have sold for more than $1 million. Los Angeles saw home prices increase about 50% from 2003 to 2005, according to the National Association of Realtors, a trade group based in Washington, D.C. The median sales price for an existing home in L.A. stood at $529,000 at the end of last year.

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