Latest Report Shows U.S. House Prices Fell 13.8% in 2008

DENVER, CO--(Marketwire - February 10, 2009) - Integrated Asset Services, LLC (IAS) (www.iasreo.com), a leader in default management and residential collateral valuation, today released its IAS360™ House Price Index for December. Based on the timeliest and most granular data available in the industry, the index showed a 13.8% decline in house prices for the full year 2008 and an overall decline of 19.1% since the market's peak at the end of 2006. This after December 2008 posted continued declines of 1.1%.

The IAS report also identified 10 of the counties hit hardest during the national decline. Not surprisingly, most were in states that experienced the largest gains during the housing bubble, California and Florida in particular. California fared the worst with three of the nation's hardest hit counties: San Joaquin County, down 51% from its high, Monterey County, down 49%, and Kern County, down 45%.

10 Hardest Hit Counties Since 2006 Peak Table

At the U.S. Census region level, both the West and the South experienced double-digit declines for the full year 2008. The West, which dropped 18.4% in 2008, fell over 24% from its peak in 2006, while the South, down 12% during 2008, was off nearly 18% from its high. Meanwhile, the Northeast posted declines of 9.4% for 2008 and 11.7% from its peak. The Midwest, despite significant declines, was the least impacted region in the U.S., and posted declines of 7.4% in 2008 and 10.4% from its peak.

National/Regional Table

At the MSA level, San Francisco, San Diego, and Miami were the hardest hit areas in 2008, with declined rates of 23.9%, 22.7%, and 20.8% respectively. Within San Francisco's MSA, Contra Costa County declined at an astonishing rate of 35.5% during 2008 and 42.2% since its 2006 peak. Also within the San Francisco MSA, Marin County and San Francisco County posted less astonishing declines of 11.3% and 13.9% from the 2006 high, while declines accelerated to 15.4% and 16.1% across 2008.

MSA,/County Table

"We're seeing house prices returning to pre-bubble levels and there are no signs of leveling off just yet," said Dave McCarthy, President and CEO of Integrated Asset Services. "But location is still everything, and in this turbulent market the ability of the IAS360 House Price Index to gauge movement at the neighborhood level will make it the most vital house price index to watch for signs of a recovery."

Census Division Table

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, Integrated Asset Services' high-tech and high-touch product lines, (www.iasreo.com/risk.html), 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. Integrated Asset Services also provides traditional valuation products and full service REO Management and Disposition.

Editor's Note: Additional IAS360 data, charts and interviews are available upon request. Data for full year 2008, since the peak of 2006 at levels from national to MSA to neighborhood level are available.

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' 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.

Contact Information: Contact Information: Dan Mahoney CSG|PR 970-405-8060