IAR President Phil Chiles meets with U.S. Rep. Cheri Bustos at a Let's Talk Real Estate event in Rock Island.

IAR President, Phil Chiles kicked off a great discussion this morning at the Lets Talk Real Estate event with Congresswoman Cheri Bustos Friday, Feb. 21, 2014, at the Rock Island Arsenal Club in Moline, IL.

Federal Political Coordinator David Levin had a detailed discussion on issues with her and when covering commercial finance the Congresswoman responded by agreeing to co sponsor HR1240 a bill that would assist small business owners to refinance their existing loans with a more affordable SBA loan.  Economic and community development rests in large part with small business and she stated that this bill is a “common sense” solution to better financing for them.

Another issue discussed was flood insurance, Congresswoman Bustos is already a co sponsor to the NAR supported bill HR3370 but she understands advocacy on the hill on this issue is necessary.  Several REALTORS shared examples of sales not closing, and the lowering of values due to the extreme increase in the rates.  The group thanked her for all of her work so far and asked for her continued efforts on this highly important issue.
Chris King, President of Sauk Valley Association of REALTORS gave a market report to the Congresswoman on her area and stressed the importance of opening and fully staffing the Thompson prison and the positive impacts to the housing market that it would have.