Bradley A Byers
Real Living Premier Realty
Answering this question properly really depends on if you're buying for investment, are you looking to move here, maybe 1 to live in & 1 to rent out & of course, what is your price range? My other Aussie clients are considering buying in Palm Springs to rent it out as a Vacation rental where they'll be able to get a higher net rent per year than if they granted a typical 1yr lease to 1 tenant. You could do this type of rental in any vacation hot spot city, like Los Angeles (coastal or Hollywood / Los Feliz), Orange County (coastal / beach cities).
Las Vegas would be another great option, Vegas prices have gone to heck in a hand-basket, I'm short selling a 3800sqft home in a guard gated neighborhood out there right now for just $260K! Smaller homes in nice areas you can buy in the low $100's. It's crazy out there!
For Orange & LA County, to get a home along or near the coast, you would need to spend in the neighborhood of at least $350-400K minimum.
Shoot me an email directly if you want to talk about this some more, I don't look back on this same Trulia thread for answers posted after mine.
Realtor Since 1996
Main Street Realtor
Also Licensed in Las Vegas