HOUSE PRICES' VITAL SIGNS REMAIN IN CRITICAL CONDITION

February House Prices Now At 2004 Levels According To Latest IAS Data

DENVER, CO — April 15, 2009 — Integrated Asset Services®, LLC (IAS®), 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 house prices falling another 3.0% in February.
 
U.S. house prices have now fallen 14.4% on a year-over-year basis and 17.9 % since the height of the real estate bubble in 2006. Just since the economic collapse began in September 2008, the IAS360 has shown a drop of 10.9%.
 
"We have seen no indication of a positive turn in the housing markets we track, if anything the rate of decline in some areas has increased," said Dave McCarthy, President and CEO of Integrated Asset Services. "Because we use the most current data available in the market place, the IAS360 House Price Index will be the first to see a turnaround – when it occurs."
 
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.

Among the four U.S. Census region levels, the Northeast reported a 12.8% decline across the last 5 months and 4.6% drop in February. Similarly, the South dropped 12.8% and 3% for the same respective periods. The West, for its part, was down 10.2% and 2.5%. The Midwest, though down, is the only region not showing double-digit declines.
 
According to IAS360's unique granular data, six out of the ten largest MSAs (metropolitan statistical areas) in the U.S. have experienced double-digit declines since the economy turned down less than half a year ago (since September 2008), the worst being Boston, San Francisco, and Miami, down 20.3%, 19.3%, and 18.1% respectively. The Boston area fell 10.3% in February alone.
 


 
"No markets seem to be completely immune from the housing crisis," said McCarthy.

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

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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.