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# Real estate is all about timing
- URL: https://www.smdp.com/real-estate-is-all-about-timing/
- Published: 2008-09-03T15:00:00.000Z
- Updated: 2026-10-25T00:52:10.000Z
- Author: Guest Author
- Tags: Opinion, Santa Monica, #archive-import

*By MIKE HEAYN is a Washington Mutual multi-family loan consultant. He (310) 428-1342 or*

TIMING CAN MEAN THE DIFFERENCE between success and failure. On a small scale, you could look at the things you lost because you hesitated. Just the other day I found the perfect digital camera. However, I thought I could find it cheaper online and waited. I did not find a lower price online and when I went back to the original retailer the camera was sold out. Not a huge deal, but it goes to show that timing and action can make the difference.

On a larger scale, one of my friends was looking to buy a four-unit building. However, he went in and out of escrow several times, with several different properties only to discover that the financing had changed from 15 percent down to 20 percent down, effectively pricing him out of the marketplace for another six months. Had my friend followed through on the first deal, he would have a property.

In many areas of Los Angeles County home values are receding. Homebuyers are not able to get the asking price they want. Is it possible to sell your house in a declining market? Yes, of course it is, the real question is whether you can get the sales price you want for your home.

No one likes the idea of their home dropping in value, but if you need or want to move you have to get past the “I could have made ‘X’ more” mentality. My friend’s brother sold his home three weeks ago. I asked him why he sold it now and why he did not wait for the real estate market to rebound. He gave me an interesting answer. He said, “I could have waited two or three years. Heck I could have waited 10 years, but my family’s growing up. My daughter’s going into 10th grade, my son’s going into sixth grade and I don’t want them to miss living in a new home. I want us to enjoy the new home as a family.”

He sold his home for $400,000 in two days — I will get back to how later. He purchased his home for $110,000 and had made principal reductions along the way. The new home he purchased was larger and in a highly desirable part of town.

The purchase price was $600,000 of which he and his wife put down $450,000 from the sale of their old home and cash. Now he pays about the same each month, but has a beautiful home for his family.

How in the world did he sell his home in two days in a market where homes are listed for over two months? Simple, he priced his home at the same level as the bank-owned homes. Banks have properties listed at specific prices, many that are below the market value, but the problem is dealing with a bank is difficult. You could deal with a bank for six months and still not end up closing escrow. Banks need to sell properties, but they are not motivated like true homeowners.

A homeowner usually wants to finish the sale of their home as quickly as possible because a job, another home purchase or some other life event causing the sale. To the homeowner selling their home, timing is everything — they are motivated. To a bank, timing is not as important as calculating what loss, if any, the bank is taking.

If you sell your property in two days for a 5 percent loss versus keeping it on the market for three months, who is to say that 3 months from now your home is not going to be worth 5 percent, 6 percent or even 7 percent less.

One other benefit is that in a buyer’s market, if you sell your home at a discount and attain multiple offers, you have leverage as a seller.

You can ask the buyer to waive certain contingencies because you have backup buyers. Of course, this type of strategy and all of the details should be left to a real estate broker.

When moving to sell your home you have options. You could list the property yourself and post it online, with Web sites such as Craigslist.org. However, if you are inexperienced, do not try to sell your house by yourself.

I cannot emphasize how important it is to find a creditable real estate broker. Most real estate brokers are regional and understand a submarket.

If you are trying to sell your home, decide what is more important to you — price or life events. Sometimes you do not have a choice in the matter. The adage “a bird in the hand is better than two in the bush” comes to mind when I hear homeowners talking about waiting for that next buyer who is going to offer them 3 percent more for their home. Buyers are not as prevalent as they once were, mainly because of the difficulties in attaining financing.

If you are in a position where you must sell and can make enough to pay off any debt on the property, you should weigh all your options. Just remember that timing can mean the difference between success and failure.

*Originally published in the Santa Monica Daily Press print edition on September 3, 2008.* [Read the original PDF.](https://s3.us-east-1.amazonaws.com/smdp%5Fbackissues/090308.pdf?ref=smdp.com)