ARGUMENTS FOR SELLING:
1. We've reached another height
2. There are talks of plateauing and possibly even microdips in the market
3. You have amazing equity and can upgrade from the starter pad to a forever home
Words of wisdom when selling: Be patient and smart. You will have to have your home in great shape and priced right with a local realtor who knows what's up in the area.
ARGUMENTS FOR BUYING:
1. Rents are through the roof, and still going up due to high demand and low supply
2. Why pay your landlord's mortgage?
3. Population in LA keeps growing
Words of wisdom when buying: Look at the big picture. Inventory is low, and it's still a seller's market. So bid wisely. Do not nitpick about overbidding 5k here, 5k there. Over a 30 year fixed, that's like $3/mo. And try to be less emotional about the things that can be changed, such as ugly carpets.
