Weekend Events and the Weekly Real Estate Update

The 2017 Yerba Buena Night Outdoor Arts Festival takes place on Saturday night, from 6 to 10PM. Also on Saturday night, Lit Crawl San Francisco will happen, attracting close to 10,000 people to the Mission District’s Valencia Street corridor. Part of Litquake, this is the largest LitCrawl in the world.  Finally, Pier 39 had a planned 39th anniversary party for Saturday that was to conclude with fireworks. In light of the North Bay wildfires, they have canceled the fireworks, and have now turned their Birthday Bash into a Party with a Purpose. See their Facebook page for details by clicking here.

On the “Homes for Sale in San Francisco” front, here’s our report for this week, 10/8/17 – 10/14/17

Preemptive Offers in Today’s Marketplace

Hill & Co. Sales Manager Jill Gumina was quoted again in a recent San Francisco Chronicle real estate column, this time responding to the question “What are the pros and cons of preemptive offers?” Here’s her reply:

“Preemptive offers are buyers’ written offers that sellers are willing to consider prior to a previously set offer date. In other words, an offer date may be set for October 5th but a buyer offers to purchase the property at a certain price before that date and if successful, no other offers can be accepted.”

“It can be a controversial move, as one can imagine, that might anger potential buyers and their agents who were acting in good faith that a date is set and everyone’s offers will be considered at the same time.”

“On the other hand, aggressive buyers who are willing to offer more than market price, perhaps pay all cash and have few if any contingencies want their offer to be considered without competition from other buyers – a possible win-win for both seller and buyer.”

“Many listing agents and their sellers will refuse to consider preemptive offers once the date has been set. A professional Realtor can explain fully the pros and cons of making and/or accepting this type of offer.”