The long-term prognosis is bullish for Orange County's various economic and commercial real estate product types, according to Brunswick and other conference panelists. But the short term is another story.

Like the early morning Huntington Beach surfers zigzagging among crashing waves, real estate professionals will likely be navigating a dangerous path over the next year or so. The experts agreed that the "gold standard" would be taking a respite as the area's movers and shakers ride out the subprime fallout, with its subsequent credit crunch and overall economic woes.

While the event, held at the Hyatt Regency in Irvine, maintained a sobering tone, any market gloom did not slow attendance. A record crowd of 450 industry professionals showed up for the fifth annual RealShare Orange County conference. The conference, along with other RealShare events nationwide, is produced by Real Estate Media, publishers of GlobeSt.com, Real Estate Southern California, Real Estate Forum magazine and other print and online publications devoted to commercial real estate.