Tailspin Continues for U.S. Housing Market -- 3.5% Drop in January the Worst Yet According to Latest IAS360 Data

DENVER, CO--(Marketwire - March 10, 2009) - Integrated Asset Services®, LLC (IAS®) (www.iasreo.com), a leader in default management and residential collateral valuation, today released its latest IAS360™ House Price Index. Based on the timeliest and most granular data available in the industry, the index showed a staggering 3.5% plunge in house prices for January, the worst single-month decline since its peak in November of 2006.

January's drop by itself represents more than $610 billion in reduced value of U.S. housing stock and brings the total loss from the start of the economic meltdown last September to roughly $2.4 trillion. Following a 1.1% decline in December, the national housing index has now fallen 24.7% from its peak in November of 2006.

At the U.S. Census region level, the Midwest, which has been particularly impacted by the economic turmoil, fell another 4.5% in January, bringing the region's total decline since September 2008 to 12.4%. The other three census regions were down in line with the national drop of 3.5% for the month, though the West, not too surprisingly, far outpaces the rest of the country with what is now a 23.4% decline for the last 12 months.

IAS 360's granular data indicates the areas that experienced the largest gains during the housing bubble, California and Florida in particular, are continuing to be hit the hardest. Three counties in Florida -- Charlotte (Punta Gorda), Hernando (Spring Hill), and Pasco (New Port Richey) -- are now down more than 50% from their highs in 2006.

The January IAS360 report also reveals the nation's wealthiest counties have not at all been insulated from the national decline. Three Virginia counties -- Loudoun, Stafford, and Prince William have each fallen more than 30% from their respective peaks.

"These are unprecedented times to say the least," said Dave McCarthy, President and CEO of Integrated Asset Services. "We're seeing house prices plummet at a rapid pace throughout the country. We'll be keeping a close eye on the data for signs of a bottoming out."

At the MSA (Metropolitan Statistical Areas) level, while no area moved into positive territory in January, only San Francisco and Miami declined noticeably more than the national average, falling 6.4% and 5.4% 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, Integrated Asset Services' high-tech and high-touch product lines, (www.iasreo.com/iseries.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'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.

Contact Information: Contact Information: Dan Mahoney CSG|PR (http://www.csg-pr.com) 970-405-8060