There's a lot more to buying a home and it's potential resale value. Every home is different and you should get in touch with a good local agent if you're ready to buy.
Slopes can shift depending on their composition and structures can experience all kinds of problems with slippage especially in an area prone to earthquakes. You'll need to talk with the appropriate experts when the time comes, but obvious defects can sometimes be detected by a making simple visual inspection of the property saving you the hassle and expense of dealing with discoverable issues before you commit to a purchase. Your agent can also make inquiries about known defects or issues with a property before you make an offer.
By the way, fires are also a known hazard on dry Southern California hill sides and local fire departments frequently require properties be cleared of brush and dense undergrowth by the owners. Other than that... enjoy the view!