In Like a Lion!
How Tariffs Could Impact the Economy, Housing Market, and Interest Rates
The President's proposed tariffs on Canada, Mexico, and China have stirred economic and political concerns, with experts emphasizing that the impact will largely depend on how long these tariffs remain in effect. According to Wharton finance professor Jeremy Siegel, while the tariffs alone may not push the U.S. into a recession, they could influence GDP, inflation, interest rates, and even the housing market—a crucial factor for both buyers and sellers.
The White House initially announced a 25% tariff on Canadian and Mexican imports and a 10% tariff on Chinese imports, citing national security concerns. However, these plans have been shifting, with delays, retaliations, and renegotiations taking center stage. Canada, for instance, countered with a 25% tariff on U.S. goods and even canceled a government contract with Elon Musk's Starlink. As I write this, Tesla stock is down nearly 38%, Target nearly 23%, and Amazon is down more than 17% since the first of the year.
For homebuyers and sellers, this economic uncertainty could impact mortgage rates, consumer confidence, and overall affordability.
UPCOMING COMMUNITY EVENTS
I'll be hosting two events at my San Leandro office in the coming months
May 3: A Fire Harding event with Paul George a CERT Program Coordinator at Alameda County Fire Department.
June 5: Blood Drive with The Alameda County Food Bank.
If you want more details for either, please let me know.
HOMEOWNERSHIP TIP OF THE MONTH
Spring is here, making March the perfect time to refresh your yard. Start by clearing out winter debris—remove fallen leaves, trim overgrown branches, and pull early weeds to prevent them from spreading.
Next, revitalize your soil by adding compost or organic mulch to enrich nutrients before the growing season. If you plan to plant vegetables or flowers, now is a great time to prep garden beds and start cool-season crops like lettuce, spinach, and peas.
With the rainy season winding down, check your irrigation system for leaks or clogs to ensure efficient watering in the drier months ahead. Also, fertilize your lawn to encourage lush spring growth.
Finally, consider adding drought-tolerant native plants to conserve water while keeping your yard vibrant. A little effort now will set your garden up for a beautiful and thriving spring!
INSURANCE
Protect Your Home: Is Your Trust or LLC Covered by Your Insurance?
I write about this last month, but it's very important so in case you missed this: If you own a home through a Trust or LLC, there's a critical insurance detail that could make the difference between full coverage and a denied claim—ensuring your Trust or LLC is listed as an additional insured on your homeowner's policy.
Why This Matters
Homeowners who hold property in a Trust or LLC often assume their insurance policy will automatically cover them. However, many insurance companies require the Trust or LLC to be specifically named in order to extend coverage. If it's not listed, you could face serious complications when filing a claim.
Recent cases for those who lost their homes in the Los Angeles fires, have shown how devastating this oversight can be. Some homeowners have found themselves in legal battles or outright denied claims simply because their policy didn't reflect the actual ownership structure. Imagine losing your home and then discovering your insurance won't cover the loss—all because of a technicality!
The good news? This is an easy fix—one that can save you from a massive financial headache down the line. Here's what to do:
- Contact Your Insurance Provider - Ask if your Trust or LLC is listed on your policy.
- Request to Add It as an "Additional Insured" - Most insurers can update your policy with a simple request at no additional fee.
- Verify the Change in Writing - Get confirmation to ensure it's officially included.
It's a small but crucial step in protecting your investment and making sure your coverage is rock solid.
Need Guidance on Trusts, LLCs, or Homeownership?
Navigating real estate ownership structures can get tricky, but you don't have to do it alone. If you have questions about owning property in a Trust or LLC, or if you're looking for expert real estate advice, I'm here to help. Reach out anytime!
10 Things I Love About Spring in the East Bay
- Longer, Sunnier Days - More daylight means more time to enjoy the outdoors.
- Mild, Pleasant Weather - Not too hot, not too cold—just perfect for hikes and patio lounging.
- Wildflowers in Bloom - The East Bay hills and even the cracks in the sidewalk explode with vibrant poppies, lupines, and mustard flowers.
- Greener Hills - The rolling hills stay lush and green before the summer heat turns them golden. Even the trees are greener.
- Farmers' Markets Come Alive - Fresh strawberries, asparagus, and other spring produce make their way to local markets. The downtown San Leandro Farmer's Market comes back April 2!
- Perfect Pickleball Weather - No scorching heat—just cool, crisp air for a great game. Although it can be a bit breezy at times.
- Outdoor Dining and After Dinner Walks feels Just Right - Mild evenings make for the best al fresco meals.
- Birdsong Everywhere - Springtime brings more excited birds to our yards, filling the mornings with cheerful sounds. Daisy loves watching the birds from her little window perch!
- Spring Festivals & Events - Local art fairs, wine festivals, and street markets kick off the season.
- A Fresh Start - There's an energy in the air—everything feels renewed and full of possibilities!
What's your favorite thing about spring in the East Bay?
RECIPE
Inspired by a recent meal at John Henry's Café in Palm Springs:
Macadamia Nut-Encrusted Sole
This crispy, golden macadamia-crusted sole is light, flavorful, and easy to make. The buttery macadamia nuts add a rich crunch, perfectly complementing the delicate fish. Serve with a squeeze of fresh lemon and a side of vegetables for a delicious meal.
Ingredients:
- 4 sole fillets
- cup macadamia nuts, finely chopped or pulsed in a food processor
- cup GF breadcrumbs
- cup grated Parmesan cheese (optional, for extra flavor)
- 1 teaspoon garlic powder
- teaspoon salt
- teaspoon black pepper
- 2 eggs
- cup almond flour (for dredging)
- 2 tablespoons butter
- 2 tablespoons olive oil
- Lemon wedges, for serving
- Fresh parsley, for garnish
Instructions:
- Prepare the coating - In a shallow bowl, mix macadamia nuts, panko breadcrumbs, Parmesan (if using), garlic powder, salt, and pepper.
- Set up the dredging station - Place the flour on one plate. Beat the eggs in another shallow bowl.
- Coat the fish - Lightly dredge each fillet in flour, dip into the beaten eggs, and then press into the macadamia mixture, ensuring an even coating.
- Cook the fish - Heat butter and olive oil in a large skillet over medium heat. Cook each fillet for 2-3 minutes per side, or until golden brown and cooked through.
- Serve immediately - Garnish with fresh parsley and serve with lemon wedges.
Enjoy with a side of steamed vegetables, rice, or a fresh salad!
TRAVEL
Many of you know that when not in the East Bay, our happy place is Palm Springs and the Coachella Valley. So much so, that I've put together a little guide. If you're interested, reach out to me and I'll send it to you. If you love it there, please send me your tips and I'll add them!
RESTAURANTS
We had several really nice meals out this past month. But I'll say our favorite was in Palm Springs at an out of the way place called John Henry's Café (see the recipe above). Nestled discreetly off East Tahquitz Canyon Way, the Café has been a cherished local gem for over three decades even though I just learned about it. Established by Chef John Laslo and his partner Angelo, the café was founded on the principle that exceptional food and service should be accessible at reasonable prices—a philosophy that continues under current owners Luis Karam and Alfredo Cortes.
The café's ambiance is both inviting and relaxed, featuring a spacious outdoor patio surrounded by lush greenery, providing a tranquil dining experience.
The menu offers a delightful array of dishes, from appetizers like escargot and Maryland blue crab cakes to entrées such as macadamia nut-crusted sole with mango butter and the signature meatloaf. Complementing the cuisine is a full-service bar offering a selection of mixed spirits, bottled beers, and an extensive wine list.
MOVIES/THEATRE/TV
We finally saw A Complete Unknown and Wicked. I was pleasantly surprised by the Bob Dylan movie and I'll watch it again once it's streaming. I was pretty bored by Wicked, which was too bad because I loved it at the Golden Gate Theater in San Francsico when it was first touring. I couldn't believe that at two and a half hours it was still only part one or two (I hope not three!). The singing and acting was good but just way too much filler.
Seeing Uncle Vanya at Berkeley Repertory Theatre was an absolute treat! For those who don't know, I was a Theatre major in college—specifically focused on directing—and Anton Chekhov has since been my favorite playwright.
Chekhov was a pioneer of naturalism, writing about ordinary people in real-life situations using everyday language. Though he had success in his lifetime—especially with productions at the legendary Moscow Art Theatre—he doubted his plays would have lasting impact. He speculated they'd be performed for maybe seven years after his death. Yet, here we are, over a century later, and his work remains as powerful as ever.
This production was a sold-out success, running through March 23. But if you're hoping to snag last-minute seats, I know a little secret! Let me know if you're interested!
MUSIC
I probably visited three or four record stores without success this past month. I did find a super clean vinyl copy of Dean "Tex" Martin Rides Again at a little thrift store for two dollars! The Dylan movie has me listening to his albums in chronological order and this is leading me to a new and higher level of appreciation for him. Here's his performance at the legendary 1965 Newport Folk Festival Link
REVIEW OF THE MONTH
Greg is fantastic! He understands the market.
I have more than 50 five-star reviews from previous clients. You can use this link to read or write a review about my real estate services: Zillow
I hope you're all doing well. Out like a lamb!
Always happy to talk with you or your friends about your Real Estate goals. Call me. Let's brainstorm!
NAR'S CLEAR COOPERATION POLICY IS ON THE LINE. WHY SHOULD HOME SELLERS AND BUYERS CARE?
There's been a lot of buzz among industry professionals and media outlets lately regarding Clear Cooperation - a real estate policy that impacts how homes are marketed in the United States. Coming off the heels of industry changes that threatened to impact buyers agent compensation, brokerages are now faced with even greater concerns over competition and the ability to properly market their clients' "for sale" properties. The real concern, which tends to get swept under the rug by larger conglomerates, is whether these decisions are serving the best interests of the home buyers and sellers involved.
The Clear Cooperation Policy (CCP) was implemented by the National Association of REALTORS® (NAR) in 2020. The rule states that within one business day of sharing a "for sale" property with the public, a broker must enter the listing into a Multiple Listing Service (MLS). Sharing a property publicly includes any consumer-facing advertising or marketing like signage, collateral, mailers, emails, websites - including public search portals (such as Zillow), social media and more. Prior to the policy, there was no such rule and brokerages, with a seller's approval, could promote a property exclusively "off market" by word of mouth internally. Often this was done not for privacy reasons, but out of consideration for a seller's budget should the house require significant repairs, or to accommodate the dynamics of a seller's trust, or to meet a seller's unique timing needs, should a seller simply want to move fast rather than maximize proceeds of the sale.
Why should sellers care? Most sellers want to attain the highest possible price for their property. It's a real estate agent's fiduciary duty to always "protect the interests of the client." The trends both nationwide and in the East Bay show homes secure higher offers and sales prices when publicly marketed, often as a result of bidding wars that arise due to high demand and low inventory, especially in our local market. While buyers might want to avoid paying more, sellers often prefer getting the greatest amount possible out of the sale of what is typically their largest asset.
CCP was originally put into place to create equal access to listing inventory among brokerages, preventing what has historically been called a "pocket listing" or "office exclusive" where market exposure, and therefore buyer competition, is limited. This ecosystem often acts as a disadvantage to buyers who do not have access to properties being "hoarded" by other competing firms. In short, the only potential benefit of off-market sales is generally to the single successful buyer and the brokerage that has limited access to the property who would thereby capture commissions from both sides of the sale. Under CCP, a seller can always choose to sell their home "off-market," and stipulate that their listing be restricted to their select brokerage, however this is not generally recommended. CCP evens the playing field and ensures that a seller's property will be seen by as many potential buyers as possible. Adding a property to the MLS also feeds it to portals like Zillow and Realtor.com giving it maximum exposure to buyers everywhere, even outside of a local market, therefore benefiting all buyers equally.
Another concern with removing Clear Cooperation is the potential for brokerage cooperation to diminish. Without a policy in place, there will be more exclusivity among larger brokerages, which could lead to more discrimination and favoritism, going against fair housing efforts across the country. The impact could be significant. Agents and brokerages have a duty to cooperate with other brokers (except when cooperation is not in the best interest of the client, which is an extraordinarily rare occurrence). Again, it is worth reiterating that the broader a home's exposure while marketing, the better the financial result is for the seller.
Just last month, Zillow published a study* looking at home sales from 2023 and 2024, comparing homes that sold off market versus those placed on an MLS. Nationwide, Zillow analyzed 10 million transactions and found that homes sold off the MLS, sold for $4,075 less, a median loss of 1.5% nationwide, however noted that in areas like California, sellers were losing as much as $30,000 by not listing their home on the MLS. Zillow's research reiterated the importance of the MLS and its purpose of marketing properties as broadly as possible.
At the end of 2024, 1000 Watt, a consulting firm and well respected leader in real estate branding strategy, surveyed 2,000 nationwide homeowners (screening out anyone working in or with members of the real estate industry). They presented those surveyed with a simple statement comparing the benefits of an MLS system versus a system without, asking which benefitted sellers more. 96% of respondents thought that the MLS system was better for sellers, than selling without it.**
Not requiring agents to track sales via the MLS will also have a greater impact on the industry as a whole. Without accurate data being tracked in a publicly accessible database, agents and appraisers will no longer be able to rely on the information within the MLS to be an accurate representation of pricing, the time it takes to sell a home within a given market, and much, much more. For example, if a large percentage of homes transact privately, the comparisons used both by local agents to price upcoming properties and appraisers to create reports for lenders, will inevitably become compromised. This will impact the availability of the information, fracturing the market, increasing the prices of appraisal reports and limiting pricing transparency for all parties involved in the home sale process - including title companies, lenders, appraisers, inspectors, agents and consumers.
What about buyers? More transparency means greater access to homes. It's really that simple. Clear Cooperation was an attempt to ensure that buyers have access to all available homes versus allowing agents to keep properties hidden in exclusive circles. Initially, many larger brokerages took advantage of the rule and created an off market ecosystem exclusive to their buyer's agents, using pricing strategy and privacy as an excuse for their limited ecosystems. If Clear Cooperation is repealed, brokerages will refrain from putting homes on the MLS which feeds to portals like Zillow. The sole beneficiaries of this move are the large brokerages that increase their earnings while decreasing market competition by driving buyers to work only with companies that control large segments of the market listing inventory. The sellers in this situation are an unwitting tool, having their properties corralled into a limited buying pool that will undoubtedly negatively impact the final sales price they are able to achieve.
Many independent brokerages are preparing for change, looking into options like private listing networks that share properties that are "off market" with other local brokerages - large and small firms alike - diminishing the need for "office exclusives" in the first place, while continuing to co-broker with brokerage firms of all sizes. At Red Oak we are staying abreast of the situation and as a local leader in innovation, have alternative solutions in the works within our vendor and brokerage community should CCP be repealed by NAR's leadership. It goes without saying that it will be a solution that aligns with our values of cooperation, equality and transparency amongst buyers and sellers served throughout the East Bay. Should you have any questions about how this policy may affect you as a buyer or seller, please reach out.
