Complete Newbie with a general question about California purchase

[Wilson Tang]

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.