The value really depends on the area, Dallas has some real hotspots that will definitely be good investments.

SF real estate is likely going to start to diverge more from south bay real estate, much like east bay real estate diverged 20-25 years ago as population density grew and traffic became more of an issue.Additionally, as SF becomes more of a hotspot for startups and VCs, more and more of the beneficiaries of the successful startups will also likely start to move north into Marin, which historically has been reserved for the rich, old guys who were retired and wanted to distance themselves from the hustle and bustle of the city.

I love to buy and sell properties in Brooklyn, it has become more of a hot spot for younger kids coming out of college as their first place to rent; I have seen the popularity rise in the last couple years and I don't see it slowing down!

The Bronx, just south of Westchester has now become the Hotspot for investors(Taxes are still low).

The the University area ta hot spot?  

Pretty blighted area that's a hotspot for investors willing to take a gamble.

I figured it would be smart to invest in some vacation homes in some hot spots to rent out to others until I am ready to buy my own place and settle down. 

Is this area still a hot spot?

Within 10 years I'd also like to own vacation rentals in various hot spots in the US but I have to start somewhere smaller and local. 

BP Fam, I may have stumbled upon a vacant property in a hot spot neighborhood.