Lawrence Yun who is the Chief Economist for N.A.R. spoke at the National Association of Realtors conference in Washington, D.C. when I was there and I got a shot in the arm after hearing him speak. I was equally impressed with the fact that contrary to the data that the media is using to report their Real Estate news; there are many areas in our country that are not experiencing any price declines whatsoever.
Apparently mass mainstream media for some reason uses what's called a Case-Shiller home price index to report their news instead of the figures that NAR or Bear-Stearns provides (which ironically are saying the same thing; that the second half of 2008 will eventually upturn and that this will be just a blip on the radar). Apparently the Case-Shiller numbers are more "drama"tic so they fare better with the media. I wouldn't exactly call the Case-Shiller numbers "news that's fit to print" however, statistics can always be skewed and manipulated to our favor so I guess the #'s are all relative.
I will post a link to N.A.R.'s economic outlook below so that you can actually read it in Lawrence Yuns words. Here you go...(Click here)
To back up what he is saying I can honestly say that a lot of the people who are jumping off of the fence are investors who are our clients from the banking and lending industry...now go figure? Do you suppose they know something that we don't?
Also...I didn't get a chance to talk "Tourist" and about how "FABULOUS" Washington, D.C. is! Wow! What an incredibly powerful, historical, cultural town with lots of unbelievable architecture and super educated peeps that are definitely on their game when it comes to politics.
The highlight of my trip was visiting Capitol Hill where I spoke to Jerry Lewis our House Rep from Redlands and his fine staff. They gave us the royal treatment! (a tour of the White House and underground on the shuttle from Jerrys office to Capitol Hill where Tamara gave us the grand tour) and I also of course visited Jefferson Memorial, Lincoln Memorial, The Vietnam Memorial (you simply cannot be unemotional in the presence of this ominous, granite edifice), The Reflecting Pools and also Washington Memorial and The Mall at night where I took lots of pics and e mailed them to all my favorite peeps.
I had an awesome dinner on my last night in D.C. at a place called Charlie Palmer's! The atmosphere was amazing as well as the food. Yum! It's located about two blocks from Union Station and I highly recommend it if you are ever in D.C. and you want to leave with a good meal under your belt. (Just forget about the carbs for this one meal...because I highly recommend the gnocchi!).
So...even though our meetings lasted most of the day, I did manage to get in some of the sites at night. Between the time change and the long days, it was tough rolling out in the a.m. but in the end it's all part of my job as the President of the Big Bear Association of Realtors and I've got a lot to tell my colleagues at the next board meeting.
I really have to say, Realtors Rule! We are such a huge lobby and are so very admired internationally in our industry, and that was very apparent while on Capitol Hill. The National Association of Realtors really stands apart. We really do set the standards for excellence, and what I am proud of the most is that we really do have significance! Something that I brought back with me even amongst the knowledge of National Repositories and Statewide MLS's is that Real Estate is ALWAYS local. It is up to us to excel in our profession and to offer a value to our clients.
Even with the information superhighway at consumers fingertips, they will need someone who is local, knowledgeable and most importantly ethical when they seek representation. No amount of information on an internet website can compare to superior services by a LOCAL representative.
Until my next blog...Get off the fence and buy some Real Estate! The time is NOW! :-)
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