Well, you do have a couple of big factors in your favor - the location of your home and your understanding ouf your situation. Yes, summer is over and prime "selling" season is as well, but homes sell all year 'round and homes in areas like Los Feliz where there is a limited supply, not a whole lot of new home construction can behave differently than homes in areas where there is an oversupply for a much smaller demand.
Most people tend to make the selling, buying or refinancing decisions of their homes based more upon emotion than upon a strictly financial basis. I would urge you to base your decision upon upon what makes the most financial sense for you in the longer term.
Here is what I would ask you to decide what might make the most sense:
1) Do you have to sell your home? If the payments that you are currently making or those that you would be making if you refi are comfortable for you then maybe you might want to consider holding on to the home.
2) If you decided to sell to break even and the home does not receive offers that would alllow you to do that, are you willing to or able to take a loss?
3) Is there anything that you forsee changing in your near future that would make the situation you are currently in easier or more difficult? Are you secure in your job? Expecting any promotions?
4) If you decide to sell your home are you willing to listen to your Realtor regarding staging your home and willing to listen to the market with regard to pricing? When I talk about staging, I am not necessarily talking about hiring a company to bring in items, but rather about making your home as showing worthy as possible. As for listening to the market, are you willing to price your home market appropriately?
5) If you don't sell but decide to refinance instead and the value of your home takes a hit, are you in the position to hold on to the asset and continue to pay for the loan acquired at today's value for a long enough period to allow the market to rebound?
And, finally have you decided who you would like to have help you regardless of what your decision would be? If the answer to this last question is no, then please allow me to throw my hat into the ring and offer my services. You are welcome to give me a call to discuss your situation privately in greater detail.
I hope this has been helpful and look forward to hearing from you soon. Oh, by the way, though I currently live in Claremont, I lived in your neck of the woods for ages just before I got married and still have strong ties there.
Tisza Major-Posner, Realtor, Keller Williams Professional Group (213) 392-4084 or (909) 837-8922