Updated about 9 years ago on . Most recent reply
Complete Newbie with a general question about California purchase
I'm brand spanking new to this, and i'm not really looking to make a whole living on this. I know the real estate game is no joke and most people have a lot of knowledge and money to make a good living off this. I am however just looking not to lose all my hard earned saved money. So i apologize if i missed the format of how this is usually done as i'm brand new and found this site, hopefully to get some advice.
Question: Is it a good time to buy in Los Angeles, CA? with low interest but the market seems to have gone way up i'm scared of the crash. again i'm brand new so i only know what i read over the past few weeks googling.
Where i am at: i currently own a condo in Azusa, CA. I still owe about 160k left, but had someone run a compareable home sales in the area and they were going for 330k-350k. I'm considering cashing out 100k and refi, to purchase a new home i would live in and rent my current one.
Most Popular Reply
#3 Contractors Contributor
- Contractor
- Los Angeles, CA
You need to poke around more on the site, search for what you want, read blogs, listen to podcasts, do some market research before jumping in. LA is a different market, and as they say, you only lose money if you sell low. You can't expect a person from a forum like this will be nostradamus, since it's your money on the line, and it is, 100k after all, would do a bunch of research and prove to 'yourself' that it IS a good time to buy rather than trust someone else with it.