Hey buddy, I need a house, can you spare a million?

You know Even some of Hollywood's rich and famous,you know the movie and tv stars, can't avoid the housing prices and housing foreclosure downturn that's sweeping the nation. In Los Angeles California, the Golden State, only 4,430 homes were sold in December, down 48% from the previous year. And prices fell 11% to an average $470,000.

Of course, celebrity homes cost much more than that. An entry or starter level house for an up-and-coming movie star costs at least $1.4 million in Los Angeles, the city of angles, say a few foreclosure experts.
One Realtor in the star struck area of Rich and Famous International Realty says it's the owners trying to sell homes in the $3 million to $6 million range that are having the most forelcosure trouble forelcosure trouble. Some trouble to have, right?

Within a few years if it doesn't become a foreclosure or so the value of the real estate will increase. Therefore if you plan on living in the home for a decade or so, you can expect to make a good profit when you decide to sell. When it comes to real estate investing there are always a few risks involved. This is why it pays to shop around and truly examine a particular area or subdivision before making a purchase. Obviously you want to value of the property to increase over time and not plummet. Bad thing to have your prised investment foreclosured.

Then housing prices will be back to normal so says http://www.foreclosurepoint.com. Keeping that in mind, if you do consider real estate investing in a great and desirable area, then you will more than likely make a wise investment at this point. Since housing costs are down, it's no doubt a buyer's market. Essentially this means that you can likely purchase a nice home for much less than what it would normally cost.

Uncertainty reigns in the foreclosure and preforeclosure area today the watch word is be carefull or you're next!