In the short term, financially speaking, a "Good Deal" is relative with the market at the time of sale, the market changes - recently a lot over the last 5 years. I agree with my colleague from Virginia, just that you can afford the payments will ease many market shifts for you, many people unfortunately are not in that position today in their buys of 3-5 years ago. In addition, there are a lot of "Fuzzy Factors" not included in appraisals and homes value calculators that are also important: Schools, transportation, community groups, soil quality, fire risks, crime rates, elected officials and neighborhood cooperation, and area organizations' strenght if there disagreement with the elected officials.
Granada Hills is a very special community, it's almost all residential. To realize how special, you probably should invest in the Granada Hills History Book (it's a picture coffeee table book). James Cagney had his ranch in GH; 65 homes are still intact of the original 80 homes in the first GH development (build by the company that built the L.A. Coliseum - at the time GH was actually a bigger project than the Coliseium!). We also have our Eichler homes in the hills. Famous former notables are actresses Ashley Judd, Valerie Bertinelli, and the lady on "Little House on the Prarie", football hall of famer John Elway, funny cars' Don "the Snake" Prudome, a Kiss band member, and Cheech Marin (somewhere I heard there's a picture of him as an alterboy at de la Salle!). GH is also diversified in it's many neighborhoods, it's VERY eclectic !
I'm finding that a good way to tell property values is by the characteristics of the neighborhood, which is often best defined by zoning. Some neighborhoods have been very stable, well organized, and defended their land rights against outside interests (and the L.A. political machine) that are more out for financial gain than any improvement in the area. Other neighborhoods in GH haven't.
Since the Granada Hills-Knollwood Community Plan is NOW under review, and zoning changes are proposed, it's best you know what's going on in your neighborhood and give your input before any changes are finalized. Changes can be in your favor or not...it's just good to know, and you and your neighbors do have input if you want to.
A good deal in home purchasing is not always just about money.
Oh, and a belated "Welcome to GH!" :-)