DENVER, CO, Nov 11 (MARKET WIRE) --
Integrated Asset Services, LLC (IAS, www.iasreo.com), a leader in default
management and residential collateral valuation, today released its
IAS360(TM) House Price Index for September 2008. The monthly report,
which includes the most current and granular data available in the
industry, showed a 2.1% decline in house prices on a national level in
September, with an annual decline of 13.3%. However, the data also shows
bright spots at the individual county level with 75 of the 360 counties
showing month to month improvement in September (see chart below).
"Housing prices at the national and MSA levels are still seeing declines,
but we're seeing positive signs at the county level, and even more
encouraging signs at the neighborhood level," said Dave McCarthy,
President and CEO of Integrated Asset Services. "A review of the IAS360
House Price Index county level data, which is an aggregate of the 15,000
neighborhoods we track, provides insights into pockets of the country
that may be showing signs of improvement."
The national picture continues to look challenging. At the census region
level, results for September show all four U.S. Census regions
experiencing declines in house prices, with the South and West
experiencing double digit declines annually of -11.2% and -19.0%,
respectively. Compared to September of 2007, Western and Midwestern
housing prices improved slightly while Northeast and South continued to
weaken.
Results for the month of September at the census division level, all nine
U.S. Census Divisions posted declines. West South Central led the way with
a decline of 4.5% and New England, South Atlantic, Pacific posting
declines of 3.0%, 2.5% and 1.9%, respectively.
The IAS360 House Price Index is a comprehensive housing index tracking
monthly change in the median sales price of detached single-family
residences across the U.S. The index, based on all arms-length
transactions, tracks data of 15,000 "neighborhoods", which is rolled-up to
report on the changes in 360 counties, nine census divisions, four
regions, and the nation overall. The IAS360 House Price Index is
delivered on a monthly basis.
Leveraging real time data and nationwide resources, IAS' high-tech and
high-touch product lines offer an unmatched level of detail in a rapidly
changing housing environment. IAS reports on "neighborhood" level house
price trends, residential market climate and collateral valuation. IAS
also provides traditional valuation products and full service REO
Management and Disposition.
Editor's Note: Additional IAS360 data and charts are available upon
request.
About Integrated Asset Services, LLC.
IAS (www.iasreo.com) is a privately-held Colorado-based corporation
specializing in default mortgage services including valuation,
reconciliation and full cycle REO disposition. The Company's advanced
valuation and volatility technology combined with its expert professional
services help its clients reduce exposure while expediting the entire
asset management process. Founded by REO industry experts, IAS provides
services that go beyond industry expectations; from the level of
integrity of its employees to the measurably better service it routinely
provides.
This press release contains various forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 regarding
future results of operations and market opportunities that are based on
IntelliReal and IAS' current expectations, assumptions, estimates and
projections about the company and its industry. Investors are cautioned
that actual results could differ materially from those anticipated by the
forward-looking statements as a result of the success of IAS' branding and
consumer awareness campaign and other marketing efforts; competition from
existing and potential competitors; and IAS's ability to continue to
develop and integrate new products, services and technologies. Due to the
timeliness of the data, the IAS360 House Price Index is subject to
revisions on a monthly basis.
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Contact Information:
Dan Mahoney
970-405-8060
dmahoney@csg-pr.com
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