According to this story Santa Monica property is tanking.  Wow the news is quick.  No kidding?  Breaking News!  This just in!  Haven't I told you people before that values in West LA dropped, dropped, dropped?  I'm pretty sure I've been saying this for awhile now.  It's not big news. I've told people if not here then personally (like to mom, Brian, Windy, Misi, etc) that it amazed me you could now find some properties like condos for as low as 500k in West LA, at rare times even 300k.  That's HUGE.  When we moved here you couldn't find a closet for that price in the bad areas of LA.  Now you can sometimes find that in the ok areas, even in or near areas like Santa Monica or Beverly Hills or Marina del Rey.  Not huge places or in the best best neighborhoods but ok condos in good neighborhoods bordering on the better ones.  Yeah, the news is quick here.  They didn't have to wait for reports, they could have picked up a paper or read the real estate sections online.  Duh.