Real Estate

What are the best investment opportunities in the Bay Area right now? Has Silicon Valley hit its peak? Are towns like Richmond and East Palo Alto on the upswing? Should I venture to the outskirts (Morgan Hill, Livermore, etc.)? Will western Sonoma County ever catch up with the rest of the world?
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My understanding is that given the burst of the real estate bubble that this is actually a good time to buy but that people just don't have the money and can't get the money because of the financial downturn.

As to locations, I'm guessing that the closer you are to the City the better off you are.
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