In the News

Rick Cunningham, principal of the Cunningham Group in the Los Angeles area, is rebranding his Northern California Keller Williams offices as KW Advisors

The owner of a number of Bay Area Keller Williams Realty franchises is renaming his group, uniting offices in Northern and Southern California under the same marketing umbrella.

KW SF Bay Area offices — located in San Francisco, Napa, Burlingame, Oakland, Los Gatos and Palo Alto and owned by The Cunningham Group’s owner, Rick Cunningham — will now fall under the umbrella of KW Advisors. Cunningham owns about 20 KW market centers in California and Hawaii and just united 15 of them under the new brand late last week.

Nicole Aissa heads the San Francisco area — which stretches from Napa to Palo Alto — while Tina Jones oversees the East Bay and is based in Oakland, Cunningham said.

Cunningham told me he instituted the rebranding — specifically with the name “Advisors” — because he’s being selective about the agents he hires and provides with back-end legal support.

“Consumers now are expecting a much higher level of education, experience and results from their agents,” he told me.

The rebranding of his existing brokerages is also being done because his agents are doing more business outside of their local areas, Cunningham said.

“Real estate is not so hyperlocal anymore,” he said. “I don’t want to call it KW San Francisco when they have clients who are buying second homes in Napa and they think they can’t use their agent. The reality is they can.”

Cunningham, who is based in the Los Angeles area, also said he does billions of dollars of commercial real estate every year for Keller Williams and wanted to make sure his commercial agents also had a brand that worked for them.

He said KW Advisors is very growth-minded right now and that he just took on a new Palo Alto office and is growing by a clip of about 16 agents per month.

In 2020, Keller Williams Realty formed KW SF Bay Area, a collective that brought together agents and operations from KW San Francisco, KW Peninsula Estates and The Cunningham Group’s network of offices from Napa to Carmel. That collective included about 400 real estate agents serving San Francisco and San Mateo counties.

Keller Williams Peninsula Estates was No. 8 on the San Francisco Business Times list of Bay Area residential real estate brokerages List, with $2.74 billion in sales volume in 2021. Keller Williams San Francisco was No. 16, with $1.19 billion in sales volume last year.

In 2004, Cunningham was recruited by Keller Williams Realty as the first core agent/investor of the Hollywood Hills office, and from there he founded The Cunningham Group, a real estate team within Keller Williams.

Headquartered in Austin, Keller Williams Realty is one of the largest real estate companies

in North America and has other California brokerages that are not part of Cunningham’s rebrand.

Click for San Francisco Business Times


Price reductions in S.F. home sales soar more than 100% year-over-year

Active listings keep climbing in San Francisco as sales have dropped since interest rate hikes.

Broker Jennifer Rosdail with Keller Williams San Francisco told me that she foresees a bump in sales activity before the next federal interest rate hike, which is set to take place at the end of the month. She told me she feels strongly that this month, house hunters who haven’t yet secured a home are going to realize rates go up again on July 29 and and start actively writing offers before it goes into effect.

“There’s a lot of the sitting inventory and they’re going to realize they have a lot of choices,” she said.

She told me she’s also recently seen buyers reach for adjustable-rate mortgages (ARMs) — especially those buyers who know they don’t want to keep the house long term — something she saw none of during the pandemic when interest rates were at historic lows.

“People are starting to go for ARMs again — 5- to 7-year ARMs — because of the interest rates being lower on them,” she said.

On the condo side of sales, Compass Development Marketing Group Senior Director for the West Krysen Heathwood told me sales volume is down and prices are staying steady for now.

“In San Francisco’s condo market there are many qualified buyers looking to purchase now realizing that while interest rates have risen, they are still historically low, and there are fewer buyers vying for the same home,” Heathwood said, also noting that agents are “seeing some buyers who are sitting in the ‘waiting room’ to see what happens next.”

Click for San Francisco Business Times


San Francisco homebuyer pool begins to shrink for low-end properties

Hatvany told me there’s been a change in buyer behavior across all price points but particularly for condominiums as they tend to be lower price points than single-family homes. Recent rate hikes, she said, have meant that buyers are no longer willing to get into big bidding wars to win listings.

“Over and over we are hearing, ‘I don’t want to get into a bidding war’ when last month we had buyers happy to pay hundreds of thousands of dollars over asking price to secure a property before rates went up,” she said. “Buyers are definitely experiencing fatigue from being outbid multiple times, and then the combination of a recent rise in inventory and rates has made them more discerning about what they are willing to ‘pay up’ for, and has caused some buyers to retreat to the sidelines to wait and see if something better comes along.”

Hatvany told me there’s been a change in buyer behavior across all price points but particularly for condominiums as they tend to be lower price points than single-family homes. Recent rate hikes, she said, have meant that buyers are no longer willing to get into big bidding wars to win listings.

“Over and over we are hearing, ‘I don’t want to get into a bidding war’ when last month we had buyers happy to pay hundreds of thousands of dollars over asking price to secure a property before rates went up,” she said. “Buyers are definitely experiencing fatigue from being outbid multiple times, and then the combination of a recent rise in inventory and rates has made them more discerning about what they are willing to ‘pay up’ for, and has caused some buyers to retreat to the sidelines to wait and see if something better comes along.”

KW San Francisco agent Jennifer Rosdail told me she’s been noticing that homes listed below $1 million are selling closer to their listing prices now, and by contrast, those above the $1 milliondollar range continue to experience robust offers over asking.

“Buyer frustration is out there and it’s big,” she said, noting how those with smaller budgets are most affected by the rate hikes. “People starting to worry about interest rates is starting to affect the low-end of the market. … People who could afford $800,000, $900,000 to $1 million are just dropping out of the market.”

Rosdail told me she is seeing the same trend in Oakland and on the Peninsula.

In the East Bay’s Lamorinda region, Abio Properties co-owner Linnette Edwards told me she is witnessing buyers “fence sitting” and dropping out there as well, although she noted that fivebedroom homes with outdoor space are still “selling at premiums.”

She said most homebuyers in the $2 million and over range are not as adversely impacted by interest rates, but that doesn’t mean they’re getting what they want either.

“I have clients who have flown out here for the second time from Boston who can afford up to $4.7 million, and they are frustrated,” she said, noting that competition is still fierce amongst serious buyers with limited inventory and high demand.

Click for San Francisco Business Times


S.F. real estate market sees rise in homes selling well above asking prices

The number of new residential real estate listings in San Francisco is creeping up, a typical feature in the run-up to the spring selling season, but there is no sign yet that the fundamental imbalance betweensupply and demand will significantly change.

Bay Area real estate markets, so far, remain largely insulated from the threat of rising interest rates, inflation and market volatility based on the uncertainty surrounding Russia’s invasion of Ukraine. Compass Chief Market Analyst Patrick Carlisle said that while some buyers and sellers have been affected by declines in stock portfolios or have paused their plans awaiting more clarity in the international or economic environments, the prevailing dynamic remains one of very high buyer demand with an inadequate supply of homes for sale.

“Depending on the specific market and market segment, some of the statistical measures of market heat have matched or exceeded all-time readings,” he stated in his latest Bay Area report, released this week.

For February 2022 in the city, which saw 290 new units come on the market, the sales-price-to-list-price percentage was 121.6% — the highest since before the pandemic — indicating multiple offers on each listing. The median sales price of $2,390,170 was also the highest for a month since last June.

Currently, the city has close to 1,000 active units now on the market compared to about 500 in early January, a welcome sign for potential buyers competing against multiple offers, especially for single-family homes.

“The inventory is starting to arrive and the buyers are ready for it after being told that interest rates are going to go up,” Keller Williams San Francisco partner Jennifer Rosdail told me. “So, they’re excited to grab something before they can’t.”

Rosdail told me the inventory has been slow to arrive but that it also feels more like a “normal year” compared to the past two, which featured sharper ups and downs. She said that while international turbulence has caused some of her clients to fret over the stock market and inflation, this uncertainty hasn’t deterred them from buying homes in the city.

“A classic hedge against inflation has always been to hold real estate instead of cash,” Rosdail said, noting that her most recent listing in the city got 15 offers and went for more than $400,000 over asking.

Click for San Francisco Business Times


From selling points to a seller’s market — what Bay Area real estate experts forecast for 2022
Jan 7, 2022

To draw up a picture of what’s likely to come this year in residential real estate in the Bay Area, I spoke with several real estate professionals who work in San Francisco, the East Bay and the North Bay, all who concluded that 2022 would see a continued seller’s market for single family home sales.

Broker Jennifer Rosdail with Keller Williams San Francisco told me she foresees that the threat of higher interest rates could to cause more buyers than ever to jump in the pool to compete for what is still a limited supply of homes. She also noted that buyers are coming back to town who saved up money during the pandemic, which could add to the competition.

“I think any gloom and doom people are preaching over these interest rates is just going to cause the buyers to act more decisively because they’re afraid their affordability is going to shrink,” Rosdail told me.

Click for San Francisco Business Times


Agent Advantage: Jennifer Rosdail | Market a House into Something Buyers Want
June 9, 2020

For Jennifer Rosdail, marketing extends far beyond communications. Her marketing philosophy stems around creating a product that the market wants. This involves training and convincing sellers to see your vision as the market expert along with helping buyers understand how they can add value to the house they’re buying.

Click for video on YouTube


Agent Advantage: Jennifer Rosdail | Use Newsletters to Grow Referral Business
May 30, 2020

Jennifer Rosdail’s repeat and referral business is over 80%. She keeps up with her clients through a monthly newsletter that covers content from her blog. She started the blog newsletter in 2007 and continues it to this day as a way of keeping top of mind to her clients.

Click for video on YouTube


San Francisco housing market off to hot start in 2021
Feb 24, 2021

This is a re-posting of an article written by Ted Anderson of the San Francisco Business Times.

Demand for homes has ticked up in San Francisco this winter with new numbers from January showing just how hot the market has become.

The city is experiencing one of the busiest midwinter selling seasons in history, according to a recent Compass Real Estate report, which showed San Francisco saw a 67% increase in home sales compared to January 2020. Midwinter is typically a very slow period for sales, but the pandemic changed that dynamic with huge year-over-year increases in monthly home sales volumes.

December was also the busiest month of 2020 for closed sales in San Francisco, according to the Compass report, something that has never been seen before.

Click for San Francisco Business Times


Winter real estate outlook for S.F. appears warmer than usual
Nov 13, 2020

The ongoing Covid crisis, combined with other factors, may actually bode well for the city’s residential real estate outlook during what is usually a chilly time of year.

The pandemic upended normal residential real estate market seasonality this year in San Francisco, pushing the demand usually expected in April — normally the hottest month for listings going into contract — into the typically quieter summer season.

Click for San Francisco Business Times


Condos hit by price cuts in San Francisco. Here’s how much they’ve fallen
Sep 28, 2020

San Francisco’s condo market is adjusting to a new normal of lower prices and higher inventory,

Prices are falling and high-rise condos — especially those with no separate entrances, elevators, restricted HOA amenities and no private outdoor space — have been hit the hardest, according to Compass Chief Market Analyst Patrick Carlisle.

Click for San Francisco Business Times


Large real estate firm merges Bay Area offices under new collective
Jun 2, 2020

Keller Williams Realty announced Tuesday the formation of KW SF Bay Area, a new collective bringing together agents and operations from KW San Francisco, KW Peninsula Estates and The Cunningham Group’s (TCG) network of offices from Napa to Carmel.

The new collective will include about 400 real estate agents serving San Francisco and San Mateo counties and will offer agents streamlined operations, communications and marketing to help share more resources and referrals. Senior executive team leader Nicole Aissa will head KW SF Bay Area.

Click for San Francisco Business Times


Judge strikes down S.F. Realtor group’s effort to muzzle new off-market home listing policy
Jun 1, 2020

A San Francisco group of real estate agents trying to block new restrictions on off-market listings has seen their first challenge slapped down by a federal judge.

Top Agent Network (TAN), a members-only platform for real estate agents based in San Francisco, filed a federal antitrust lawsuit earlier last month against the National Association of Realtors, the San Francisco Association of Realtors and the California Association of Realtors over the new protocol — dubbed the Clear Cooperation Policy — which took effect May 1.

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Is S.F.’s real estate market feeling effects of coronavirus scare?
Mar 10, 2020

Realtor Jennifer Rosdail with Keller Williams Realty told me the local market is still busy when it comes to buyers and offers, and that except for hand sanitizer being more apparent as a staging tool, there are few differences so far from the normal hot spring market that kicks off after Super Bowl Sunday. 

“Yesterday, I had clients lose out on a home in Glen Park even though they were way over asking price and had all cash and no contingencies,” she said. “I have observed that people who have pulled money out of the stock market are feeling good about real estate.”

Click for San Francisco Chronicle


SF residents fight City Hall to get nameless street on maps
May 4, 2019

My thanks to Kathleen Pender for taking notice of and researching the unusual access to 3352 John’s Way.

The band U2 might want to live “Where the Streets Have No Name,” but for some residents of an unnamed street smack in the middle of San Francisco, it’s been hell getting an Uber, a pizza delivery or an ambulance. And it’s especially hard trying to sell a home that potential buyers can barely find.

That’s why some residents — and one enterprising real estate agent — have been trying to get Google, Apple and the city to get their street, informally named John’s Way, on the map. They’ve had some luck with Google and Apple, but you know what they say about fighting City Hall.

The street is really a private dead-end alley in between Market Street and Corbett Avenue in the Twin Peaks neighborhood. The alley has garages and parking spots for residents.

 

The six residents on the Market side of the alley have Market Street addresses and front doors facing Market. But finding and getting to them is extremely difficult because of a unique set of circumstances. There’s no parking or sidewalks beneath them, and they sit atop a giant retaining wall accessed by a steep zigzag ramp.

 

It’s much easier to access the homes from the alley, so they use their back doors as front doors. Visitors, delivery people and house hunters would have an easier time finding them if they had a John’s Way address, but they can’t get one because it’s not on city maps.

The homes on the other side of the alley have Corbett Avenue addresses and most of their homes face Corbett, which is easy to find and relatively accessible. But there are two apartment complexes and one home on the alley that have Corbett Avenue addresses but no direct access to either Corbett or Market. Their only access is John’s Way.

Greg Tarbox lives in that home. “It was awkward at first,” Tarbox said. He has found ways to direct delivery people to his home, although some still get lost. Whenever he needed an Uber, he’d give an address on nearby Clayton Street and wait there.

“It’s a unique setting,” Tarbox said. “It’s a little like Barbary Lane,” the fictional street in Armistead Maupin’s “Tales of the City,” he said. “It’s that spirit. People cooperate.”

The alley is jointly owned and maintained by 17 property owners whose land touches it. Each year the city sends one property tax bill for the alley and the owners divvy it up. Unlike the owners of the infamous Presidio Terrace, an upscale private street that was auctioned off by the city for nonpayment of property taxes but later returned to owners, the owners have never been seriously delinquent.

In 1985, John Pletz, an owner who has since died, asked a deputy in the tax collector’s office what would happen if the taxes weren’t paid. In a letter to neighbors he wrote, “As unbelievable as this sounds, he replied, ‘The property will be sold at auction and probably a developer will buy the property and build an apartment or condominium units.’”

View the current listing at 3352 John’s Way here.

Click for San Francisco Chronicle


‘Full House’ house debuts, looking nothing like Tanner family home
April 26, 2019

The San Francisco Victorian pictured in the opening credits of “Full House” and its spin-off “Fuller House” is going on the market next week, probably at a price just under $6 million.

If it goes for $6 million, it would set a new high price for the neighborhood, said Jennifer Rosdail, an agent with Keller Williams. “One sold with a ton of renovations for $5.8 million. That’s the highest sale ever in Lower Pacific Heights.”

Click for San Francisco Chronicle

 

 



IPO millionaires may not be top factor in predicted spring rush on S.F. housing
Apr 12, 2019

San Francisco anticipates booming housing sales in spring, fueled by a stable of new millionaires with fresh IPO wealth, but another variable may also be at play.

San Francisco realtor Jennifer Rosdail said the low interest rate of 3.72 percent right now is really what’s behind the expected uptick in buyer interest. She said last spring they hovered around 4 to 4.25 percent.

So far this April, Rosdail, a longtime agent in the city, said that she’s seen San Francisco houses sell at $800,000 over asking on the high end and all the way down to $75,000 below asking on the low end. She said home sales in the $3 million-plus market are the ones more likely to be affected by the new millionaires coming out of this season.

“I don’t know how significant a couple thousand of millionaires are — we have so many,” she said. “San Francisco is a humbling city to be a millionaire in,” she said.

The San Francisco metro area has more than 314,000 millionaires — the 8th most in the world — and the third most billionaires with 74, according to Wealth-X’s 2018 global ranking.

Rosdail, who remembers interest rates for a 30-year mortgage as high as 6.75 to 7 percent more than a decade ago, said just a one-point increase in the interest rate represents a 20-percent decline in affordability for buyers. She said that at this point in spring, buyers can afford almost 20 percent more than they could in the fall.

“If interest rates went up a lot, that’s the only thing that’s going to calm it down,” she said. “I do believe that’s more important than the new millionaires.”

Click for San Francisco Business Times


 


Castro Victorian tenancy in common asks $699,000
Oct 17, 2018

While $699,000 gets you a three-bedroom home in Boise, Idaho, it can also net you a one-bedroom abode in San Francisco’s Castro neighborhood, arguably a more exciting and colorful locale.

Featuring one bed, one bath, and 588 square feet, 546 Sanchez comes with a renovated kitchen and bath, as well as a terrace with a view and two fireplaces. Period details like crown moldings and ceiling medallion can still be found here.

Click for SF Curbed


 


Sunset home with serious curb appeal seeks $998K
Sep 6, 2017

There’s something special about corner homes in the Outer Sunset. A closer look at splendor of the neighborhood’s Art Deco specimens, specifically, are exposed via a wider stage.

Take, for example, this circa-1940 Art Deco house at 1701 40th Avenue.

Featuring three beds, two baths, and 1,377 square feet, this abode’s exterior, surrounded in part by brick skirting, has benefitted from a fresh look since it last sold in 2005. A new paint job and a new color on the front door (eye-popping yellow) bring cohesion to this home’s facade.

Click for SF Curbed


Data, dispossession, and Facebook: techno-imperialism and toponymy in gentrifying San Francisco
July 20, 2017

As Ippolito and Araiza’s mural infers, the gentrification of the Mission is correlative to a real estate marketing strategy that preys upon Mission Latinx culture to boost property value. While this transpired with gusto during the first Dot Com Boom (Graham & Guy, 2002; Mirabal, 2009), it has resurfaced with a vengeance during the contemporary era (Maharawal & McElroy, 2018). For instance, real estate speculator Jennifer Rosdail has rebranded much of the Mission’s geography as “The Quad,” a quadrilateral “meta hood” in which “quadsters” reside. These new Mission residents, Rosdail describes, “work very hard – mostly in high tech – and make a lot of money,” enjoying “the mix of lux and grit” (Rosdail, 2014). By rebranding the historically Latinx neighborhood, one set of cultural geographies is replaced with another. This is premised upon tech speculation, or practices in which future real estate value is premised upon the desires of those imbricated in techno-capitalist economies.

Click for Taylor & Francis Online


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Hayes Valley landmark Victorian asks $1.95 million
Dec 5, 2016

Once upon a time, the neighborhoods west of Van Ness were full of Italianate Victorians with boxy frames but classy facades.

Then 1906 came along, and most of those Gold Rush and post Gold Rush-era homes went the way of so much rubble and kindling. Another sacrifice to the gods of tectonic upheaval.

Click for SF Curbed


 


Developments in development: Shifts and uncertainty
November 20, 2016

I must have angered the universe with my last happy-go-lucky, things-are-looking-up column because now there is tension, fear, but most of all uncertainty in the air. By that I do mean the election, but I’m not sure that the election alone is at the center of the unease that seems to have touched the development and real estate world locally.

For one thing, as realtor Jennifer Rosdail reported (prior to the election) on her blog, employment in the region is generally up, but home sales are down. In fact, condo and single family home sale prices have dropped, and sale rates were at a ten year low for two months running.

Click for SF Chronicle


 

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City helps 2 teacher couples buy homes in SF
Oct 8, 2016

Two teacher couples in San Francisco have managed to do the impossible. No, not score same-day reservations at the French Laundry or walk downtown without smelling urine. Even crazier. They bought their very own single-family homes. In the city. On their meager salaries.

Click for San Francisco Chronicle Article


 

kron4VIDEO: New program helps SF teachers become homeowners
Oct 9, 2016

SAN FRANCISCO (KRON)—The Bay Area is an expensive place to live making it more and more difficult for teachers to afford to live in the cities they teach in. It has created a shortage of teachers in the classroom and a huge problem for the city of San Francisco. KRON4’s Hermela Aregawi reports in the video report about a new program to help these teachers become homeowners.

Click for Kron 4 Article

 


 

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francisco teacher to take advantage of the news that he backed a loan to buy a home has moved into her new digs and she tells k. c. b. s.’s making goals be she couldn’t be more grateful if anything at that single family home at play more space and we’ve ever had we had two young can now at his grave and bridget early a social worker at every middle school in the mission said it would not have been possible in the city had for the mayor’s down pena fifties loan program which helps teachers like her along with other public workers like firefighters in the past she and her teacher husband did not qualify theory we made too much money which is %hesitation area and karen disco because i mean we’ve you know can vary for grant now they’re in an outer sent a district home that was going for more than a million king still need to be worked out and there are still very stringent requirements for the program but early daschle afternoon at at the city to work here’s then it’s all been worth it i am i right where i’m i can get it in a cave very eighty l. wherever as we really line people especially people who are like from here is just now idealists k. making full speed t. c. d. investigators

Click for KCBS-AM (KCBS)


 

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The Walk-Through: a Glen Park home
June 24, 2012

Twice a week, The Chronicle features a local home on the market that caught our eye for its architecture, history or character.Address: 181 Randall St., Glen Park, San Francisco

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628x471 (1)S.F. housing costs drive out yet another family
June 25, 2014

In April 2012, I wrote a column about taking my eight-months-pregnant sister on Muni and the rudeness she encountered. Just one well-mannered rider out of dozens…

Click for San Francisco Chronicle Article


 

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How Mom and Dad can help first-time home buyers
July 12, 2014

Unless they are awash in stock options, many people trying to buy their first home in the Bay Area need help from the Bank of Mom and Dad….

Click for San Francisco Chronicle Article


 

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The New SF Real Estate Map Has Some Losing Hipster Cred, Gaining House Value
July 26, 2010

Danny Della Lana, who lives on the west side of San Jose Avenue in what was once considered the Mission District, had just discovered in an e-mail that the new map from the San Francisco Association of Realtors moved him into Noe Valley.

Click for San Francisco Chronicle Article 

 


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S.F. increases down-payment loans to 1st-time home buyers
March 16, 2014

Have you heard that the City is willing to help 1st-time home buyers through their MOH programs? My cousin is the cover girl “Melissa” in this article. I mentioned these program to her (I’m the unnamed “Realtor” mentioned in the article). This lead her to purchasing her new home (I served as her Realtor for this too). Are you a first time buyer? Let’s chat.

Click for San Francisco Chronicle Article