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About Palo Alto's Barron Park

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

01-23-08
Anne Arjani
Anne  Arjani: Real Estate Agent in Palo Alto, CA
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!