I noticed whilst in Angeles (albeit a couple of years ago now) you could buy a brand new Barratt style house build to foreign(American) spec standards for 35 million. Angeles is a very expensive place to buy though, or was. So I dont think its a bargain, but its about the current market price.
I think the advice, especially in todays environment, given by Keith and Angel is very good and I would follow their idea. Real bargains can be had almost anywhere at the moment, especially in PI.