looking for a worthy house to buy

I am interested in investing such as stocks, funds, and etc and often read business magazines. However, after several years' investment, I really found that buying a house is the best investment. We have invested mutual funds since we were in university but it turned out we still lost a lot of money. Even though many people said mutual funds are long-term profits, we have waited for 10 years. So I don't believe in mutual funds anymore.
Since my parents approved to lend me money to buy a house in USA, so I recently spent time surveying good houses to buy. I found a phenomenon that a Chinese agent can not offer me good properties as an American agent. Therefore, I decided to ask American agents to look for a worthy house for me. We have discussed with some demands:

1. Good location - since we probably sell the house after I graduate. So we care about school districts.
2. Nearby Irvine - In case we can not be landlords, we have to move in the house. I don't want a long distance commute.
3. Price reduced - The main motive of buying a house in USA is that US house prices go down and down so we would like to pick a worthy house which reduced a lot in previous prices.

A house that I would like to buy must conform to these rules. After investigating several areas, we agree that Costa mesa could be a good choice.......