U.S. Representative Anna Eshoo spoke to local REALTORS® in Los Gatos early this month. Eshoo represents the 18th Congressional District of California, which includes portions of San Mateo, Santa Clara and Santa Cruz counties. She serves as the ranking member of the Energy and Commerce Committee's Subcommittee on Communications and Technology.
Eshoo praised members of the Silicon Valley Association of REALTORS® for their work in promoting homeownership for all. "You are in a magnificent business because you help make people's dreams come true. My partnership with you is the most rewarding. Thank you for always looking for opportunities for clients to make things happen for them," said Eshoo.
A strong supporter of housing, in the wake of the housing crisis, Eshoo created consensus around the "Homeowner Bill of Rights," a major foreclosure protection law banning "dual tracking," a practice where banks continue to pursue foreclosure, even as homeowners negotiate to modify their mortgage or do a short sale. The law also bans "robo-signing" of foreclosure documents and allows consumers to sue lenders under limited conditions if they intentionally or recklessly violate the law.
At the Realtor meeting, Eshoo thanked REALTORS® for their support for the PATENT Act. This legislation that provides a set of patent litigation reforms aimed at curbing abusive patent litigation brought by patent trolls.
The Congresswoman also applauded REALTOR® support for the Federal Communications Commission's passage of net neutrality, which mandates that service providers and governments must treat all data on the Internet equally, ensuring that consumers will have equal, unencumbered access to the Internet and all legal content and applications cannot be blocked or throttled by Internet service providers.
"On behalf of the American people and small businesses, thank you for it," said Eshoo.
Eshoo updated members on other legislation, like the Senate Transportation bill and the Clean Water Act and Clean Air Act. Eshoo co-sponsored the FRESHER Act and the BREATHE Act, two bills aimed at closing loopholes in the Clean Water Act and Clean Air Act that allow the oil and gas industry to avoid regulations that protect human health and the environment.
California's housing market is "spectacular," said Eshoo, with home sales in July reaching the highest level in nearly three years, but there are serious problems due to the supply shortfall and affordable housing.
"I'm thrilled that business is good, but there are always serious challenges, enormous challenges. … Affordable housing is an oxymoron in our region," exclaimed Eshoo.
Some questions members asked Eshoo included providing oversight of the Consumer Financial Protection Bureau, which she said she would look into, and high speed rail. She said the California High-Speed Rail Authority is on track with the plan for electrification and upgrades, noting, "nothing is built all at once."
In closing, Eshoo told the REALTORS®, "Housing is a cornerstone of the American Dream. You know that. Our partnership is really based on that great pillar of truth in America."
Eshoo was elected to the San Mateo County Board of Supervisors in 1982. She was elected to the U.S. House of Representatives in 1992.
The Silicon Valley Association of REALTORS® (SILVAR) is a professional trade organization representing over 4,000 REALTORS® and Affiliate members engaged in the real estate business on the Peninsula and in the South Bay. SILVAR promotes the highest ethical standards of real estate practice, serves as an advocate for homeownership and homeowners, and represents the interests of property owners in Silicon Valley.
The term "REALTOR®" is a registered collective membership mark which identifies a real estate professional who is a member of the National Association of REALTORS® and who subscribes to its strict Code of Ethics.
Variations of this article have appeared in local area newspapers.
For further information, please email or call the SILVAR office at (408) 200-0100.