It all depends on what you need to get out of your home to purchase the new home. The best thing to do is to sit down with a Realtor who will give you an honest opinion of what your numbers are and then you can evaluate what the best route would be.
If you would like to find out the value of your home and what the best possible route is for you, then give me a call at 818-445-1035.... more
I don't think anyone wil answer that with 100% assurance. However, I don't see that market will recover in following 2 years. There is a reason -- current administration willbe in the office for one more year and whoever will come next, there will be a year at least to do something about market because this person will be new and it takes time to do something. IMHO.... more
You can take a look at home ownership data in Los Angeles by neighborhood here:
It has home ownership data, home prices, etc.
Hope that helps... more
Most of Los Angeles County currently is a buyers market. Existing homes are staying on the market longer, and sellers are much more negotiable when in comes to terms. Most listings will except below asking price. So first find a good reputable agent and have them run comparble home sales in the area you are considering before submitting your offer and then depending upon how long the property has been on the market determine how much below list price you are going to offer, the longer the home has been on the market, generally the lower offer, your offer can be because the seller will be in a position to accept lower offers the longer he has been on the market and he feels the urgency to sell.
I hope this helps.... more
This is a very difficult question to answer. But, my comments depend primarily on the type of investment property you are interested in purchasing. For example, it is nearly impossible to find a multi-tenant property that will provide you cash flow unless you are willing to make a down payment of 40 - 50%. On the other hand, you may find a few commercial properties that offer better terms. In general, California is a tough market compared to say, Texas or North Carolina, where you can get a positive cash flow with much less of an initial investment. I've written an Excel spreadsheet that will calculate Net Operating Income, Before Tax Cash Flow, Return on Initial Equity, Return on Total Equity, Cap Rates, Etc. The calculations rely, of course, on the aquisition data you enter. I'll be glad to send it ot you by email if you would like a copy.