Perfect Flipper Home sells with 13 offers: asking price $1,275,000.00

775 Cereza Drive in Palo Alto CA has many very desirable characteristics of the perfect investment or flipper home. The 1268 sq ft home on a 8,250 sq ft (per co. assessor) lot came onto the market on January 2nd 2008, for $1,275,000 in the HOT Barron Park neighborhood. Palo Alto is in a strong sellers market, and there is almost no inventory, but many motivated and qualified buyers. This was clearly a very low or "agressive pricing strategy", about $200K under its true value. Clearly many people agreed with me that it was a terrific property because 8 days later it had 13 offers!