The sizzling Compton real estate market

Jane Wells of CNBC's Street Signs, was in Compton this morning reporting on that area's red hot real estate market. According to realtors in that area, properties are typically selling at 10-20% over the asking prices, as many investors believe that Compton and South Los Angeles are the last affordable areas in the greater Los Angeles area. Typical prices range from $350,000 to $400,000 - up almost 40% compared to last year. Additionally, rents in the area have gone up as much as 50%.