Bay Area housing market frenzy: ‘Cash is king in terms of speed’

For a two-bedroom home nestled between the Castro and Noe Valley in San Francisco, one prospective buyer was so anxious he plunked down an offer — a very attractive one at that — before the seller’s agent had set an offer deadline.

Out of courtesy, the seller’s agent gave other would-be buyers a chance, which generated seven more offers and ignited a bidding war. The original bidder then upped his price to $1.53 million and sealed the deal at 33 percent above the asking price for the home,…

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