www.LandandLatte.com: Coming Out of The Dark - Moses Speaks

Coming Out of The Dark - Moses Speaks

Dr. Lawrence Yun and Melinda PetesronSome might refer to him as the Moses of NAR... leading us out of wandering in the desert and into the promised land.  When Dr. Lawrence Yun speaks... are you listening?  He's singing a pretty positive tune these days, and I found myself tapping my feet to a new beat.  It certainly made me wanna get up and dance ;-)

The Chief Economist for the National Association of Realtors (NAR) is once again delivering his message from the mountain top, sharing good news with Realtors across the nation regarding the future of homeownership.  It's no surprise that many states have turned a page in one of the scariest books in history called The Recession.   

I had the pleasure of meeting Dr. Yun last year in Washington DC at the very first  Realtor Rally on the lawn of the Washington Monument.  He of course, was on the phone briefing the President about all of those crazy Realtors in blue shirts storming the Capitol.  It was definitely a Kodak moment ;-)

This week, I attended an Economic Summit in Southern Oregon where the honored guests, Dr. Lawrence Yun and Dr. David Crowe (Chief Economist for the National Association of Home Builders), provided a State of the Union address on the outlook of the real estate market.  I found myself humming the tune... Coming Out of The Dark.

For those of us who survived the wandering... the future appears bright.  According to the experts, the last 5 months have produced a year over year housing appreciation in the double digits.  The shortage of homes nationwide has created pent-up demand for housing for the next generation of boomers (25-34 yrs old)... which lends a potential clue of who we should be marketing to ;-) 

A few other bite size morsels from the Economic Summit...

  • The Wall Street Journal predicts home prices to rise 5.3% this year and 5.1% next year.  Dr. Yun believes the figure will be higher due to low supply.
  • The Dodd-Frank Legislation will continue to be a pill of a bill with respect to lending practices (as many smaller community banks are still trying to understand the new rules).
  • There appears to be a greater migration toward the sunbelt states (South/West).
  • The West Coast is recovering quicker than the East Coast, particularly CA, where foreclosures are down by 50% and home values are up as much as 20% in some northern parts of the state. 
  • There's an energy renaissance taking place in America, providing promising opportunity to export oil to China in the near future, thereby contributing to a stronger U.S. economy.

Finally... there's a glimmer of hope on the horizon.  We're coming out of the dark and beginning to see the light!  Oh, Hallelujah!

Coming Out of The Dark ~ Melinda Peterson

 

Melinda Peterson - Real Estate Cafe LLC

 

 

 

Melinda Peterson ~ Principal Broker

The Naked Blogger

Curator of Happy Endings

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Comment balloon 12 commentsMelinda (Mel) Peterson • May 24 2013 03:19PM

Comments

Mel

Your trip to the mid years NAR meeting in Washington sounds like it was productive.

Good luck and success.

Lou Ludwig

Posted by Lou Ludwig, Designations Earned CRB, CRS, CIPS, GRI, SRES, TRC (Ludwig & Associates) about 6 years ago

Mel, I have always thought that Dr. Yun seems upbeat and positive. There have been some folks around Ar who REALLY put him down--I was quite surprised! I DO like your morsels, and that's great news about we "Westerners" coming into recovery nicely!

Posted by Gayle Rich-Boxman Fishhawk Lake Real Estate, "Your Local Expert!" 503-755-2905 (John L Scott Market Center) about 6 years ago

I had a fabulous time.. Lou, but that was last year ;-)  DC is one of my favorite places to visit!

I kinda like upbeat and positive, don't you Gayle ;-)  I heard some stats this week that sound very promising for real estate.  Naturally, it's going to be a slow climb, but from the sound of things, the steep part is behind us.  Whoa! 

Posted by Melinda (Mel) Peterson, Curator of Happy Endings (Real Estate Cafe LLC) about 6 years ago

Hi Mel... great post on Dr. Yun... I'm a fan and follow his conversations. He gets accused of being overly positive sometimes, but his messages ring true and he hits the mark most of the time. I'm also a Gloria Stephan fan too! "Coming out the Dark"... great song! Very cool and totally talendted lady!

Posted by Rene Fabre, Marketing in the Digital Age (First American Title) about 6 years ago

Boy Mel, I hope you are right! Its been a long haul.

Posted by Annette Thor, Residential & Commercial Real Estate Broker in CT (Connecticut Homes and Commercial Fairfield Cty,CT reinct.com) about 6 years ago

Dr. Lawrence Yun of the NAR I have followed for many years and he ALWAYS says the economy is good, so I never believe him anymore. I think he is permanently delusional. I am a big fan of upbeat, but also realistic. I am one of those who put him down, cause I have found him to not be credible but just a puppet for the organization unless he really believes what he says. I don't know him personally.

Posted by Gary Woltal, Assoc. Broker Realtor SFR Dallas Ft. Worth (Keller Williams Realty) about 6 years ago

Mel, that is a great recap of the meeting.  Thank you for sharing.

Posted by Kathy Sheehan, Senior Loan Officer (Bay Equity, LLC 770-634-4021) about 6 years ago

I could not wait to repost this incredible post put together by my friend Mel.  The details and the quotes from the Chief Economist at National Assn of Realtors and the National Assn of Home Builders.

This is incredibly possitive news and needs to be shared and SHOUTED from the highest mountains. 

Thank you Mel for sharing all these positive details. 

Posted by Florida Tolbert Team Keller Williams Advantage, Keller Williams Land Division Specialist (Keller Williams Advantage III Realty in Lake Nona) about 6 years ago

I hear ya Rene... I've been following Dr. Yun for years.  I felt NAR was slow to call the market what it truly was in 2007... a sinking ship.  However, today's good news isn't just pie in the sky... it's for real ;)

It sure has been... Annette!  I'm just a messenger of Moses... but it sounds pretty good to me ;-)

LOL... Gary!  I understand your skepticism.  However, there's some very reliable statistical data (from several sources) that back what Dr. Yun and Dr. Crowe are saying.  Me thinks they can't all be wrong... or delusional ;-)

Thanks Kathy... I felt extremely encouraged by the data.

Thank you kindly for the re-blog Kevin... I think it's time we dance to the beat of a different drum... a more positive one ;-)  There is a definite demand for housing... and a clear shortage... which is a strong indicator for increasing values.  I think these guys have enough reliable data to know what they're talking about!

Posted by Melinda (Mel) Peterson, Curator of Happy Endings (Real Estate Cafe LLC) about 6 years ago

Mel,

I was thinking about the NAR rally and how much fun I had last year. Dr. Yun is amazing. I regret that I couldn't make it this year. That's a great photo of the three of you. You brought back some great information for all of us. Thank you!

 

Posted by Patricia Feager, MBA, CRS, GRI,MRP, Selling Homes Changing Lives (DFW FINE PROPERTIES) about 6 years ago

It's a strange market in Sacramento as there are pockets of homes that are selling very quickly and other areas that you might expect to sell fast are moving instead very slowly. Prices in Land Park have actually fallen, and that's been one of the premier places to live in Sacramento. Prices in Natomas -- where you can't rebuild your home if it burns down and was once swamp land with expensive flood insurance -- are going through the roof.

Posted by Elizabeth Weintraub Sacramento Realtor Top 1%, Put 40 years of experience to work for you (RE/MAX Gold) about 6 years ago

Thanks for sharing the good Doctor's news. Perhaps, he does receive criticism for being too positive ( what the hell does that mean anyway?), I for one believe in the power of positive thinking. And, when that positive thinking is backed up with good solid information - it's a pretty powerful combination.

Posted by Debb Janes EcoBroker and Bernie Stea JD, REALTORS® in Clark County, WA (ViewHomes of Clark County - Nature As Neighbors) about 6 years ago

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