Speaking about the Westside, I'm going to assume you mean "not the valley" and west of downtown. I don't agree with Allan on this point:
"I always suggest buying in fringe areas, between two "book end" or two desirable well established parts of town. What typically happens is, the property on the wrong side of the tracks becomes part of the right side of the tracks when people like yourself move in and improve the dilapidated homes."
People have been saying this about Venice for three decades, and Venice is still a "fringe" area. What costs less now because it is "on the wrong side of the tracks" will always be less desirable, especially because property appreciates very slowly, and neighborhoods change very slowly, if at all. How do you know that the fringe area you buy in, hoping for appreciation, doesn't go the opposite way, dragging the better homes with it?
Richard got it right- buy the worst house in the best neighborhood you can afford.
But where are those "value priced" neighborhoods?
Westchester is one. It's a real sleepy community, a "college" area ( Loyola University) close to the airport, freeways, etc. Homes are uniform, with some custom remodels thrown in.
Another value area is Culver City, near the Sony Studios. It's hip, prices are great, and the renovated Culver Downtown is really happening, with clubs and shops and a great nightlife, much like #rd Street Promenade in Santa Monica (at 1/4 the price!)
I was born and raised here on the Westside, and have worked as a realtor here for 34 years. Want to know some more little pockets that are nuggets of gold? Call me. I'm happy to help.
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