Sunbelt Scenario: Houston Outshines Phoenix among the Fast-Growth Southwest Real Estate Markets, according to Lewis Realty Advisors

HOUSTON--(Business Wire)--
Houston and Phoenix - the nation`s fourth and fifth largest cities - are not in
the same universe when it comes to the health of their real estate markets,
according to Lewis Realty Advisors, one of the nation`s leading real estate
consulting firms.

A close examination of the two fast-growing Southwest markets clearly shows that
the Houston real estate market is demonstrating a durability that surpasses the
conditions in Phoenix.

"Real estate prices have been holding steady in Houston and declines have been
relatively small," said David M. Lewis, chief executive officer of Houston-based
Lewis Realty Advisors. (www.LewisRealty.com) "Through the national economic
decline, Houston real estate remains resilient."

In Phoenix, the real estate boom of the early 2000s, has given way to widespread
foreclosures, declining home prices and increases in unemployment.

"The Phoenix area suffered the steepest annual drop in home values of any city
in the nation -- down a staggering 35.3 percent from April 2008 to this year,"
said Kim Kobriger, senior analyst for Lewis Realty Advisors. "Houston home
prices have dropped, but the declines are not severe."

The Phoenix median home price has declined from $250,000 in 2007 to $104,000 at
mid-year 2009. Over the same time period, Houston`s median home price declined
only $20,000.

"In Phoenix, home prices are down 54 percent from peak levels in June 2006,"
said Kobriger, author of an analytical comparison of the Houston and Phoenix
markets.

Throughout much of the economic slide, the Houston economy was buoyed by strong
energy markets, a rise in oil and gas drilling and related job growth. The
Phoenix economy did not have such a strong undergirding and home prices went
into a free fall.

Kobriger, former manager of internal audits at Maricopa County Assessor`s
Office, has served as president of the Phoenix Chapter of the Appraisal
Institute (www.AIPhoenix.org) and he holds the institute`s prestigious MAI
designation.

Founded in 1961, Lewis Realty Advisors provides consulting and appraisal
services, eminent domain solutions and investment analysis for private property
owners and governmental entities. More information is available at
www.LewisRealty.com.

(Copies of the Lewis Realty Advisors Phoenix/Houston Comparison Report are
available to fully credentialed media.)

Lewis Realty Advisors
Kim Kobriger, 713-461-1466
KKobriger@lewisrealty.com
www.LewisRealty.com

Copyright Business Wire 2009