My day job is in the gas industry that has provided a great boost to the local economy and real estate prices. 

This is generally seen as good for fighting against gentrification and allowing seniors to age in place, as your property taxes won't jump up dramatically just because the real estate market is appreciating.Many here in WA, myself included, believe that some of our income inequality and gentrification problems could be solved by adopting California's model of property taxation.

Will residential real estate experience a similarly dramatic turnaround?

Both of these could be temporary issues but there is no guarantee of the outcome.Overall housing prices are up pretty dramatically from the bottom.  

You can be off on just one of the variables in your pro forma and it can dramatically affect your returns.  

An education will go a long way to boost confidence and cut your learning curve a lot.

Unless things have dramatically changed, don't expect unbiased advise or a counselor by your side. 

The lower a Cap rate is, the more dramatic the implications. 

I could only think maybe something dramatic changed they needed money and they thought maybe we could get money out of Chris, I thought that because he ask if he could stop by and take a look at the progress.

In the area I live the apartment building prices have risen dramatically over the past year.