Where are the best 2-4 year real estate investments in Southern California right now in the $300K range?

I'm looking to buy a home between now and October in Southern California. Due to my career I have flexibility on the area. I plan to live in that home for the next 2-4 years. Where are some of the best real estate opportuninities in southern california.

I wouldn't buy right now.
I keep advising my closest friends... that if you can save 500 dollars a month... you are better off!
Why?
Simple... most people buy because they think its an investment (an investment that builds equity).
BUT, if you crunch numbers (based on todays' outrageous prices), your equity on an avg home doesn't build anything larger than 500 per mnth!
Expenses such as interest, up keep, property taxes, renovations.... and not to mention the potential for the housing mkt to correct itself by 10-20%! Prices can go up quite easily 5-8% in one year... what happens if it decreases 15% in two years?
The bank could see that you are a HIGH risk client. A client whom has less equity in their home than what its' worth. Hence, there could be a Mortgage call on the house... (if things in the America become worse)

All in all... if you save 500 a month, and rent a place... you save $6000 a year... which means in two years.. your down payment could be bigger... and especially if the mkt turns... you'll have more purchasing power....

Unless of course you find your dream home.
(i did... and bought the damn thing! no regrets.... but my intentions are to own it until i die, and not sell it in five years or less)

good luck D!

Hum, tough one, a house in the $300K range, you can get a house in south central LA or Compton for that price.

better is to move as close to your work as possible, and make it easy on yourself....start there.