I used to live at Castle Green in the heart of Old Town. My only mistake was to sell one year too early – left a lot of money on the table.
As far as house values, the cheapest I could find was 400k for a condo, which is absolutely insane. The crash has been moving slowly westward – started in MoVal, Norco, etc. Right now, the front is somewhere around Chino/Pomona/San Dimas and it has a strong wind behind it. Patience grasshopper.