NBC Bay Area: Real Estate "Flash Sales" Prove Market Is Hot

NBC Bay Area: Real Estate "Flash Sales" Prove Market Is Hot

NBC Bay Area March 23, 2013

With historic-low mortgage interest rates and an inventory that’s also hitting record lows, competitive cash offers are no longer limited to the high-end homes. The new trend, dubbed by realty experts as “flash sales.” Homes that sell on the same day they are listed -have become common in the Bay Area. Ken DeLeon, a realtor in the area, said “The amazing part is just within 24 hours, we already had a client with a Chinese all-cash buyer offer us more than 300,000 above and we said, ‘No thank you, please wait,’” in regards to a 1200 square foot home in Palo Alto he recently put on the market.

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