U.S. House Prices Slip Slightly in September

DENVER, CO--(Marketwire - November 10, 2009) - Integrated Asset Services®, LLC (IAS®) (www.iasreo.com), a leader in default management and residential collateral valuations, today released the latest IAS360™ House Price Index (HPI). Based on the timeliest and most granular data available in the industry, the index for national house prices fell 0.6% in September.

Compared to the 3.1% decline for the same period last year, the modest decline for the leading U.S. housing benchmark indicates the typical seasonal downturn has been somewhat delayed.

Price increases in several large counties in California largely offset the noticeably downward trend for many regions around the country. Substantial gains in previously hard-hit counties like Fresno, San Bernardino, San Joaquin led to an overall 1.1% increase for the West, the only U.S. census region with an increase for the month. The Northeast dropped 3.1%, the Midwest 2.1%, and the South 1.2%.

"The number of transactions is generally up in all geographic areas," said Dave McCarthy, President and CEO of Integrated Asset Services. "It's very interesting that activity is more pronounced in areas with declining prices. This indicates to me that there is some bargain hunting going on."

Much of September's activity could also be due to the rush to take advantage of the government's First Time Home Buyers Credit. The program, which has provided first-time home buyers tax credits of up to $8,000 since January, was scheduled to expire at the end of November until Congress voted last week to extend and expand the tax credit for another six months. The credit makes it more attractive to purchase lower priced properties.

"Along with extensions in unemployment benefits, the tax credit could prop up the market for a time," says McCarthy, "but in my opinion the government's intervention will ultimately delay a final recovery."

Recalculating the Benchmark

The IAS360 House Price Index considers non-conforming, bank owned, and conventional sales transactions in addition to those insured by the FHA and VA. For even greater specificity the index separates transaction by property type. Beginning with September's report, the IAS360 HPI will also include REO transactions along with arms-length transactions for a more accurate comparison, competing with traditional house price indexes including the S&P/Case-Shiller® Home Price Index.

The IAS360 uses "next generation" trending methodology to identify market trends earlier than any other index. Unlike indices that utilize weighted-repeat sales methodologies and smoothing that delay reporting actual market swings, the IAS360 reports changes when they happen. The IAS360 is published weeks earlier than competing HPIs and, unlike other indexes, refreshes historical trends as new data becomes available for the most accurate and useful view of the market.

Integrated Asset Services offers full service, end-to-end mortgage service solutions including valuation and data analytics. The company's i-Series® collateral valuation platform (http://www.iasreo.com/iseries.html) delivers a comprehensive combination of collateral valuation services that individually offer distinct and critical data, and when combined, a complete view of market volatility, local expert opinions and subject value. Its data analytics provide vital data on the U.S. residential housing market.

Editors note: IAS360 HPI data, charts, and interviews are available upon request. Data for 2008 and since the peak of 2006 are available at levels from national to MSA to neighborhood.

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.