sources:

Money.CNN.com, July 2007

Fort Worth Star-Telegram, July 2007

NBC5i.com, July 2007

Mansfield News-Mirror, July 2007

Of the top 10 most overvalued cities:
Percentage overvalued

1. Salinas, CA, 97%
2. Santa Barbara, CA, 82%
3. Merced, CA, 74%
4. Stockton, CA, 71%
5. Modesto, CA, 66%
6. Los Angeles, CA, 61%
6. San Diego, CA, 61%
9. Ventura, CA, 57%
10. Vallejo, CA, 56%

Of the most undervalued cities:
Percentage undervalued

1. El Paso, TX, -26%
2. McAllen-Edinburg, TX, -25%
17. Lubbock, TX, -17%
19. San Antonio, TX, -16%
19. Brownsville, TX, -16%
27. Houston, TX, -15%
27. Austin, TX, -15%
33. Dallas, TX, -14%
38. Corpus Christi, TX, -13%

Top 10 CA. most expensive homes:
2005 highest median home price

1. Manhattan Beach, $1,570,000
2. Malibu, $1,550,000
3. Laguna Beach, $1,537,500
4. Los Altos, $1,424,000
5. La Canada-Flintridge, $1,395,000
6. Palos Verdes Estates, $1,360,000
7. Saratoga, $1,350,000
8. Newport Beach, $1,300,000
9. Coronado, $1,275,000
10. Hermosa Beach, $1,249,500

Top 10 U.S. most affordable homes:
2004 average sales price

3. Arlington, Texas $134,550
5. Killeen, Texas $136,750

Of the top 10 most overvalued cities:
Percentage overvalued

1. Orange County, CA, 59%
2. Ventura, CA, 58%
3. San Diego, CA, 57%
5. Modesto, CA, 54%
5. Salinas, CA, 54%
7. Santa Rosa, CA, 53%
7. Santa Barbara, CA, 53%
9. Vallejo, CA, 51%
9. Stockton, CA, 51%

Of the most undervalued cities:
Percentage undervalued

3. Arlington, TX, -15%
9. El Paso, TX, -12%
13. Houston, TX, -11%
17. Dallas, TX, -9%
25. San Antonio, TX, -7%
39. Brownsville, TX, -4%

The median price of an existing, single-family home in San Diego County was $608,300 in May, up from $593,600 the previous month and $565,030 a year ago.

The Imperial Valley -- a California desert region of 160,000 people and a notoriously high unemployment rate -- is witnessing a surge in new homes and stores for middle-income families. Homebuilders are betting that the Imperial Valley will become San Diego's next bedroom community, another example of how California's climbing home prices are forcing people to live farther from work.

The 230-mile round trip to San Diego and back takes about four hours, but here it's easy to find a new home for less than $300,000. In San Diego, the median price of a resale home hit $580,000 in January.

People leaving county in droves

The exodus of Los Angeles County residents to surrounding counties and nearby states accelerated significantly during the past year, driving the largest population shift in the nation, according to new U.S. Census Bureau figures.

Fueled by soaring housing prices, traffic congestion, and new jobs in outlying areas, residents left L.A. at an average net rate of 9,621 per month between July 1, 2003, and last July 1, compared with an average net of 7,373 per month over the three previous years -- a 30 percent increase on average.

The figures show 115,434 more residents left the county last year than newcomers arrived.

Mobile home madness: Prices top $1 million

A two-bedroom, two-bathroom mobile home perched on a lot in Malibu, California is selling for $1.4 million. This isn't a greedy seller asking a ridiculous amount no one will pay. Two others sold in the area recently for...

Median price of a home in California at $542,720 in June, 2005

The median price of an existing, single-family detached home in California during June 2005 was $542,720, a 16 percent increase over the revised $468,050 median for June 2004...

San Diego sees record number of foreclosures in March ('07)

A record 433 owners lost their homes in San Diego County to foreclosure last month, more than six times the March 2006 figure, DataQuick Information Systems reported...