Local Realtors recently traveled more than 3,000 miles to help bring housing solutions back home.
Tracey Esling, a Tri-Valley resident, Realtor and 2025 president of the Bay East Association of Realtors was in Washington, D.C. during early June where she led a delegation of Realtors from Alameda County to advocate for federal housing policies that could impact homeownership opportunities in Pleasanton and throughout the East Bay.
Esling said the trip, which coincided with National Homeownership Month, was part of the National Association of Realtors’ annual legislative meetings, bringing together thousands of real estate professionals to meet with their elected representatives.
“We talked about the issues that we see every day here in Pleasanton,” Esling said. “We need more homes and fewer roadblocks to ownership.”
A major focus of the meetings with Congresswoman Lateefah Simon and Congressman Eric Swalwell was the “More Homes on the Market Act” (House Resolution 1340), which would increase the capital gains exclusion for long-time homeowners.
Under current law, sellers can exclude up to $250,000 — or $500,000 for married couples — of profit from the sale of their primary residence. With East Bay home prices well into the seven-figure range, Esling said many Pleasanton homeowners may be subject to a big federal tax bill when they sell. The potential tax burden keeps sellers out of the market and in homes that may not make sense for them.
“When you have a home that’s 3,500 square feet and one or two people living in it, maintenance becomes a burden,” Esling said. “But they can’t sell because so much of that money would go back to the government.”
Esling believes that adjusting the capital gains exclusion would give Pleasanton homeowners more flexibility to downsize or relocate and create opportunities for new buyers. “It may even allow the seller to do some of the deferred maintenance or help the buyer with repairs. It helps both sides,” she said.
Tracey Esling, 2025 president of the Bay East Association of Realtors (left) and Bill Espinola, 2025 Bay East president-elect took the Realtor voice directly to Washington, D.C. (Photo by David Stark / Bay East Association of Realtors)
“When you have a home that’s 3,500 square feet and one or two people living in it, maintenance becomes a burden,” Esling said. “But they can’t sell because so much of that money would go back to the government.”
Esling believes that adjusting the capital gains exclusion would give Pleasanton homeowners more flexibility to downsize or relocate and create opportunities for new buyers. “It may even allow the seller to do some of the deferred maintenance or help the buyer with repairs. It helps both sides,” she said.
The delegation also discussed the role of Fannie Mae and Freddie Mac — two government-sponsored enterprises (GSEs) that provide home purchase financing options by buying loans from lenders.
Fannie Mae and Freddie Mac have remained under federal conservatorship since the 2008 financial crisis. While some government leaders have signaled interest in ending that oversight and returning the GSEs to private ownership, housing finance experts caution that removing the government backstop could lead to higher mortgage costs for homebuyers.
Esling and her colleagues urged lawmakers to preserve a government guarantee for these entities to maintain stability in the housing finance system.
“Interest rates are already high and if there isn’t some kind of government involvement in the GSEs, it may be even more expensive to do these loans,” Esling said.
Standing at left: Tracey Esling, 2025 president of the Bay East Association of Realtors; Bill Espinola, 2025 Bay East president-elect; and Realtor Tia Hunnicutt, meet with U.S. Rep. Lateefah Simon (right) in the Longworth House Office Building in Washington, D.C. (Photo by David Stark / Bay East Association of Realtors)
Another priority was the “Disaster Resiliency and Coverage Act” (HR 1105), which would provide grants and tax credits for home hardening projects to help reduce skyrocketing insurance premiums.
“High insurance costs can make homeownership unaffordable,” Esling said. “This legislation helps homeowners protect their properties and reduce costs.”
The Realtors also supported the “Fair and Equal Housing Act”, which would expand federal housing protections to include sexual orientation and gender identity. “Discrimination has no place in our housing markets,” Esling said.
Tracey Esling, 2025 president of the Bay East Association of Realtors, prepares to meet with U.S. Rep. Eric Swalwell in the Cannon House Office Building in Washington, D.C. (Photo by David Stark / Bay East Association of Realtors)
Asked if lawmakers were receptive to the issues, Esling said, “Yes, because of the questions they were asking. When they start asking questions, I know they’re engaged and they care about their communities.
”While much of the advocacy took place in Washington, Esling said her work doesn’t stop when she comes home. She said, “Whether we’re in Washington or at a city council meeting closer to home, we’re always working for the people we serve.”
For Esling, advocacy is more than a responsibility — it’s part of what it means to be a Realtor.
“I don’t know that our communities realize how much we go to bat for them,” she said. “But that’s what we do.
”Editor’s note: David Stark is chief public affairs and communications officer for the Bay East Association of Realtors, bas ed in Pleasanton.
