Jimbo, congrats,
When I was stationed at Pt Hueneme, we bought a house in 2010 when the market was recovering (So, it was on the low end). 4 years later, when I retired we rented the house and moved out of state, with the mindset that we would return some day. We knew that it would be impossible to purchase a new home there in california without settling for something we would have to work to make ours (fixer upper), so we kept it. The way that taxes kept going up and mineral rights were being privatized for profit, we decided to never come back.
Being a native to califronia, grew up in Downey and Bellflower, I thought that it would be where I settled down. However, the only thing we enjoyed was the year round perfect weather. Everything else was a compromise. We ended up selling the house for a substantial profit, (only owning it for 6 years) and the money from that sell went a whole lot further here in arizona.
Not to talk specifics, but anywhere else in the country, that house wouldn't be more than $2-300K and it sold for more than triple that. There's a lot of truth to what Greg said, the reason why the houses are so expensive is because of location and that people are willing to pay that kind of money.
Oh, one more thing.....other than the weather, something that I really really miss from SoCal is the camaraderie and social aspect of the reefing community, I couldn't find that dynamic in colorado, nor have I found it here in arizona. I Could probably go to 20 other locations in the US and still not find what you guys have... so bask in that!!!