With a diverse mix of immigrants from China to Ecuador, the L.A. area houses the second-largest percentage of foreign-born citizens. It is also home to famed sports teams: the Dodgers (MLB), Rams (NFL) Kings (NHL) and the Lakers, one of the NBA's most winningest teams.

Breathtaking waterfront and mountains

Los Angeles real estate continues to expand even as potential home buyers face rising California property values. Despite increasing prices, many people are still drawn to the city's distinct attributes. The backdrop is bounded by hills, mountains and some of the most beautiful beaches along the breathtaking Pacific Ocean coastline. L.A. also enjoys Mediterranean weather sheltered from extreme heat waves and humidity.

Landmarks such as Grauman's Chinese Theatre make L.A. a tourist wonderland. The Chinese Theatre first opened its doors in 1927. Since then, celebrities and movie-goers have been regular patrons. The famed 'Hollywood' sign is also a true landmark. Sitting on the southern end of Mount Lee in Griffith Park, the sign's large white letters is immortalized in the sky. It was initially constructed in 1923 to spell 'Hollywoodland,' advertising new housing developments in the hills.

Hollywood today is seen as a celebrity hot-spot, and the Beverly Hills 90210 zip code lives in infamy. Nestled on the north by the Santa Monica Mountains, Beverly Hills is situated in the western part of Los Angeles County. It is part of the 'Golden Triumvirate' of Beverly Hills, Bel-Air and Holmby Hills — three strips of some of the most exclusive stretches of L.A. real estate — and at the center of this triangle sits Rodeo Drive. Three-blocks-long, the shopping haven is considered one of the world's most luxurious retail areas packed with fashion powerhouses such as Armani, Gucci, Chanel and Valentino. With median home prices listed at an average of $1.2 million, this ultra-swanky neighborhood is home to some of California's wealthiest residents.

'''Landmarks and ethnic neighborhoods'''

Downtown L.A. is bustling with an array of cultural attractions, ethnic neighborhoods and landmarks. The all-new Nokia Plaza is a multifaceted facility, with a theater, 40,000 square-foot outdoor plaza, restaurants and shops, and commercial and residential spaces. The Museum of Contemporary Art is a major attraction, as is the Walt Disney Concert Hall, a contemporary masterpiece designed by Frank Gehry. Ethnic neighborhoods include Little Tokyo, Chinatown, and the Mexican market at Olvera Street.

Off the beaten path, Watts is a residential district in southern L.A. made notorious by its history of crime, poverty and race riots. But rising real estate prices around the city brought a flurry of artists into the neighborhood and it has since experienced a renaissance. Forbes.com reported that home prices in Watts rose more than any other in L.A.

For those in search of suburban life away from the city, Encino, a suburb located in southern San Fernando Valley just north of downtown L.A., is the place to call home. Single-story Encino homes and sophisticated manors abound here, with the average list price in the mid-$600,000s. Prices even venture into the multimillion-dollar range for large-scale homes with panoramic vistas of the Santa Monica Mountains. If you come for the glorious weather or for the chance to rub elbows with the stars, invest in Los Angeles real estate today!

'''Sources and more information:'''
http://compuserve.move.com/Cities/losangeles/losangeles.asp?poe=homestore
http://www.laavenue.com/LAHistory.htm
http://en.wikipedia.org/wiki/Los_Angeles
http://www.manntheaters.com/chinese/index.php
http://en.wikipedia.org/wiki/Hollywood_Sign
http://www.beachcalifornia.com/watower.html
http://www.forbes.com/realestate/2006/03/09/home-price-appreciation-cx_sc_0310home_ls.html
http://www1.move.com/Cities/losangeles/EncinoGN.asp?gate=realtor&poe=realtor
http://en.wikipedia.org/wiki/Beverly_Hills,_California
http://www.beverlyhills.org/presence/connect/CoBH/Homepage/For+Visitors/