One of my favorite Glendale neighborhoods has always been Adams Hill.  They have a variety of exquisite (and affordable) character and mid century homes. Each neighborhood has its own nuances, each community has experienced a different timeline in the decline, some communities dropped quickly and settled, others held tight for a bit longer. 

These are the MLS stats for "the Hill"

2004
63 homes sold
Average total days on market 46
Average selling price $511,961 (median $500,000)
Average sales price to final list price ratio 101.03%

2005
60 homes sold
Average total days on market 62
Average selling price $612,858 (median $616,000)
Average sales price to final list price ratio 99.89%

2006
41 homes sold
Average total days on market 80
Average selling price $616,390 (median $640,000)
Average sales price to final list price ratio 98.75%

2007
30 homes sold
Average total days on market 93
Average selling price $664,850 (median $642,500)
Average sales price to final list price ratio 98.50%

2008 (ytd)
21 homes sold
Average total days on market 158
Average selling price $530,567 (median $509,000)
Average sales price to final list price ratio 95.86%

First time buyers take note:
1315 Romulus, Glendale (Adams Hill)
Asking, $559,000 (73 days on the market)
2 + 1 + pool, 1920's Spanish