DENVER, CO—May 12, 2009—Integrated Asset Services®, LLC (IAS®) (www.iasreo.com), a leading provider of end-to-end mortgage services solutions, today released its latest IAS360™ House Price Index. Based on the timeliest and most granular data available in the industry, the benchmark index showed national house prices falling another 1.0% in March.

The March numbers come on top of a 3.0% drop in February and a 3.5% plunge in January, the index’s worst single-month decline ever. On a year-over-year basis, U.S. house prices are now down 13.9%, with a full 10.7% coming since September when the economy began unwinding. IAS360 reports prices down 17.7 % from the height of the real estate bubble in 2006.

At the U.S. Census region levels, declines in house prices correlated to initial unemployment claims in the respective areas. Of the four regions, IAS360 reported the Midwest region falling the most in March, with a 2.5% drop for the month. At the same time, the Labor of Bureau Statistics reported the region registering the highest number of initial unemployment claims (81,957) for the same period. Among the other regions, house prices fell 1.3% in the South, 0.8% in the West, and remained unchanged in the Northeast, which also reported the smallest number of initial jobless claims.

“There was at least some leveling off in house prices for March but it’s too soon to call it a rebound in the housing market,” said Dave McCarthy, President and CEO of Integrated Asset Services. “We’ll keep looking at prices at the county level to see if there’s any cumulative light emerging at the end of the tunnel.”

Among metropolitan statistical areas (MSAs), IAS360 reports that five out of ten largest MSAs in the U.S. are down 20% or more since the housing market crashed in December 2006. San Francisco, the country’s hardest hit MSA, fell another 3.1% in March, mostly the result of Alameda County, which declined 10.6%. IAS360’s unique granular data showed that two counties in the San Francisco MSA—Contra Costa and Marin—appreciated for the period gaining 1.7% and 0.6% respectively. Las Vegas, the nation’s second most distressed MSA, was down 2.7%.  Los Angeles, meanwhile, appeared as one of the few bright spots anywhere, with house prices gaining 0.2% for the month, the first time this MSA has seen an increase since April 2008. Inside the region, IAS360 shows Orange County declining 3.2% while Los Angeles County rose 1.1%.

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 are 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.

(Las Vegas, Nev.) Prudential Americana Group’s top Nevada real estate team has added a new facet to its luxury sales division. Cristine Lefkowitz and her team of luxury high-rise real estate sales professionals have joined Shapiro & Sher Group. Shapiro & Sher have been one of the state’s top luxury home sales teams for several years.

“Cristine’s expertise in luxury high rise real estate was a perfect match for Shapiro & Sher Group,” said Ivan Sher, partner. “Despite the Las Vegas real estate market, our team finished third in North America last year for gross commission income among thousands of Prudential teams. And we continue to grow by providing the best listings and most talented luxury sales professionals in the industry.”
 
“Shapiro & Sher and Lefkowitz & Team sell the best luxury properties in Las Vegas,  so it is a perfect fit to work together,” said Lefkowitz. “We now dominate the luxury real estate market in Las Vegas and look forward to continued growth and success.”

For Darren K. Proulx, it all started with a newspaper ad. The 19-year-old was enticed by an offer to buy land in California: a low down payment and only $100 per month.

Proulx answered the ad and started making payments on his very own piece of land. The only problem: his parcel was two and a half acres of Kern County desert that “had zero chance of ever selling to a developer,” Proulx said. “I never made any money on that project.”

He decided to dedicate himself to making sure others don’t make the same mistake by co-founding Land Resource Investments, Inc., a land banking company celebrating its 10th anniversary this year. Proulx, the company’s CEO, is now recognized as an expert in the subject and is the author of the 2006 book, “Pay Dirt: How the Individual Investor Can Bank Land for Great Profit and Avoid Shams, Scams and Worthless Real Estate.”

Simply put, land banking is buying land and holding it for future use or development. In this case, it’s buying land with the hopes of selling it to someone else who wants to develop it. The concept is not new. But Proulx’s approach is.

Land Resource Investments does the research and due diligence needed to identify a parcel that is in the path of growth and development. Population projections and growth plans are studied. What is the land’s proximity to water, sewer and power? Can you see new construction from the property? In short, the company will do everything Proulx didn’t do before he bought that first piece of land.

Land Resource Investments generates revenue in three ways. It buys land for less than what it charges its buyers. It offers financing. And it keeps $6 of the $23 monthly association dues.

Proulx’s current land-bank project is in North Los Angeles County (the Antelope Valley). Individuals can purchase an undivided interest of a large parcel for $19,500—they are issued a grant deed documenting their ownership. To date, the company has helped about 1,800 people purchase land in the path of Los Angeles’ sprawl. “You want to be in the path of growth of a major metropolitan area,” he said.

Proulx said about 80 percent of the people who have bought land through his company have used money from their IRAs. “Most people, including a CPA I recently met, don’t know you can put real estate in an IRA.”

He thinks more people should consider using 401K rollovers and IRAs to diversify their retirement account holdings, especially in light of the losses these accounts have sustained recently in the stock market. “They are just getting hammered by the market,” he said. “Most people’s best investment they make in their life is their home. And it’s not the house, it’s the land that goes up in value.”

Although Proulx is confident that land banking holds more promise than betting on the stock market, he is up-front about the risks involved. “We make no promises, projections or estimations,” he stresses. “We just help people buy land that they would not be able to buy without us.”

For more, visit www.LandBankNation.com.
 

MIAMI – The World is the first and only private residential community at sea.  This extraordinary 12-deck, 644-foot vessel first set sail in 2002, and officially sold out four years later.  As is the case with any private community, select apartments become available for resale from time to time.  One such apartment that is now available is Apartment 1110 & 1108, whose more than 4,000 square feet make this the largest apartment onboard, with five double en suite bedrooms, one double en suite study bedroom, two living areas, two dining areas, two kitchens, both with laundry facilities, and 150 square feet of verandah space.  The apartment is priced at $17.5 million, and can comfortably fit up to 12 people.  More information on the apartment can be found at www.theworldsuite.com

Apartment 1110 and 1108 is custom-designed, ideal for large families or groups of friends visiting the ship together, as its connected living spaces have internal dividing doors and private entrances for assured space, privacy and flexibility.  The apartment is one of only a few to offer both bow and port views with two heated whirlpool spas on the 150-foot verandah.  The en suite study bedroom offers a quiet place to use the internet or a convenient extra sixth bedroom for children or an Au Pair. 

The ship’s overwhelming success and the increased demand for bigger, more luxurious apartments led to 1110 and 1108 as a multi-suite living option for the well-traveled, discerning guest.  These combined apartments have been cleverly configured with internal doors (some disguised as book cases) allowing for a variety of rental options with either two, three or five en suite bedrooms. 

The World’s continuous worldwide itinerary allows for the only home ownership with views of more than 470 of the world’s finest cities, beaches and ports including Hong Kong, New York, Sydney, London, Antarctica, Venice, St. Petersburg and the Seychelles.  In addition, The World is offering three unique Expeditions in 2009 – a voyage through the Sea of Cortez in May, a journey along the Bering Sea in August, and a trek through Papua New Guinea in late-November.  The World will also make a maiden call in Seoul, South Korea in October 2009.  

Each suite within the apartment is outfitted with a range of amenities including sophisticated home entertainment centers in the living rooms with a comprehensive supply of the latest movies and music; space for private, catered meals; dining areas with wet bar facilities; fully equipped kitchen and laundry areas; stunning views from floor to ceiling windows; Internet, fax and phone services; cable television, and more.  Other onboard offerings such as daily housekeeping, private chef services, dry cleaning, concierge and 24-hour room service allow those onboard to be free to explore and enjoy the ship.  The World offers four high-quality restaurants, an expansive fitness center and The World Spa by Banyan Tree, a golf simulator, onboard theatre and art gallery, marina for water sports, and much more.

The unique ship offers 165 homes aboard, and pricing for residences starts at approximately $1.4 million.  Additionally, many private residences are available for rent, with a minimum six-night stay required.  For further information on Apartment 1110 and 1108 pricing, and for a full listing of the 2009 itinerary, please visit www.aboardtheworld.com

About The World:
The World® is the only residential community at sea, allowing its Residents and Guests to travel the world without leaving the comforts of a private home.  There is an average of 150 adventurous and like-minded explorers onboard at once, traveling to intriguing destinations all over the globe.  The ship offers an elegant and intimate travel lifestyle with impeccable service and amenities that deliver a personalized and bespoke experience.  Discerning travelers can travel in one of the 165 private residences aboard The World or elect to own one of the select homes available for resale. For more information about residential purchase options or vacation experiences, please call ResidenSea Management, Ltd. at 1-800-970-6601 in the U.S. or Canada or + 1-954-538-8400 outside the U.S.; or visit www.aboardtheworld.com

The 14th biannual survey of wealthy individuals by The American Affluence Research Center indicates that despite respondents’ dismal view of current business conditions, those surveyed are expecting business conditions and the stock market to improve in the next year.

The composite Affluent Consumer Expectations 12-Month Economic Outlook Index of 113 rose 11 points from the spring survey and represents a relatively positive outlook overall. Substantial increases in the indexes for future business conditions (up 24 points to 123) and the stock market (up 19 points to 124) offset a decline in the expectations for personal household income (down 10 points to 93), the third element of the composite index. Index values can range from 0 (totally negative) to 200 (totally positive), with an index of 100 being a neutral reading.

Highlights of this national survey of 552 affluent men and women can be found at www.affluenceresearch.org. The survey participants have an average income of $304,000, an average net worth of $3.1 million, and average investable assets of $1.6 million.

The index of 47 for current business conditions represents only a modest drop of 5 points from the spring 2008 survey, which had a precipitous drop of 56 points from the fall 2007 survey. This index is at its lowest level since the fall 2002 survey and essentially indicates the view of the affluent that the economy has effectively been in a recession for several months, as first noted in the American Affluence Research Center’s spring 2008 survey.

Realty Video USA and Real Estate Shows have joined together to offer real estate professionals a simple and cost-effective solution for real estate video, which complements Realty Video USA’s high-end custom video production for luxury homes. This inexpensive real estate video solution will be offered to both brokers and agents to help market their properties, as well as integrated into Realty Video USA’s new turnkey video content solution, VScreen, which helps real estate firms tap into the power of online video. To see an example of such a photo based video tour, click here.

“Given that video makes up one-third of all consumer Internet activity, and combined with the fact that 84 percent of homebuyers begin their search online, brokers and agents alike are looking to ensure they don’t miss out on capturing those new potential leads,” said Stephen Schweickart, co-founder of Realty Video USA. “Real Estate Shows truly understands the delicate balance of achieving simplicity, while at the same time maintaining quality. They are a nationally respected virtual tour provider and the custom technology that we have built out with them is unmatched in the industry.”

“Teaming up with Realty Video USA; being able to offer Real Estate Shows in a video format; and providing an essential value element to round out this unique and powerful video Internet marketing program is thrilling for us,” said Jeff Turner, the president and founder of Real Estate Shows.

For more information on Realty Video USA, visit www.RealtyVideoUSA.com.

For more information on Real Estate Shows, visit www.RealEstateShows.com.

Residents and visitors in Connecticut during Peak Foliage Week will have a unique opportunity this year to see nature’s show from a rare vantage point while helping a good cause.

The Marble Villa in Oxford, Conn., is hosting a fund-raiser for The Kennedy Center on Sunday, Oct. 26, from 1 p.m. to 4 p.m. The Kennedy Center is in its 57th year, and it currently serves 1,100 individuals with disabilities and special needs on a daily basis.

“Charitable events that benefit The Kennedy Center Endowment Fund have always been special affairs held in the most elegant of settings; however, this year’s Autumn at the Villa, may prove to be the most extraordinary of them all,” stated Martin D. Schwartz, president and CEO of The Kennedy Center. “On Sunday, October 26th, the hills that we’ll view from the Marble Villa are certain to be alive with color at the peak of Connecticut’s leaf-peeping season. Music of a jazz duo will permeate the rooms and patio of this European style 76-acre country estate in Oxford, Connecticut. It will be a wonderful opportunity to meet with friends and new acquaintances, sip wonderful wines, eat hearty hors d’oeuvres, and raise money to benefit a great cause.”

The event also offers folks a chance to see The Marble Villa itself, which is for sale for $5.4 million. A 76-acre estate with panoramic views of the vineyards and distant hills, the Mediterranean-style home offers a touch of Europe with 130 tons of European marble, limestone and granite imported from 10 countries. Two curved, symmetrical marble staircases and a two-story waterfall greet visitors after they pass through the 180-year-old French wooded and wrought iron double doors. Brazilian cherry wood, hand-painted ceramic tiles and stained-glass windows by a well-known international artist are throughout the home.  The listing is held by Mary Kay Daughters of Hoffman International Properties.

Tickets to the benefit start at $100.

“While our volunteers and staff plan and implement at least seven fundraising events each year, holding an early afternoon get-together that also adds funding to The Endowment is the best of all worlds. Our guests have a great time, have fun looking into the future (with a Tarot Card reader), and they make a real difference in these tough financial times,” confided Martin Schwartz. “An Endowment Fund serves as an “insurance policy – a rainy day fund” that can be tapped when non-profit agencies experience a tougher economy. That rainy day does seem to have arrived,” he added.

Anyone wishing to make a donation to the The Kennedy Center, may do so by donating online at www.thekennedycenterinc.org or by sending a check to The Kennedy Center Endowment, 2440 Reservoir Avenue, Trumbull, CT 06611.

Prices for Manhattan apartments exhibited stability during the third quarter of 2008, although some sectors showed signs of softening. The average price of $1,473,351 was 12% higher than a year ago, but down slightly from the previous quarter. While the number of closings decreased by 14% compared to the same period a year ago, the median price of $910,000 posted a 12% increase from the third quarter of 2007, and was the second highest figure on record.

“Softening prices are signaling a gradual market shift in Manhattan, however the result should be more balance and ultimately a healthier marketplace,” said Hall. F. Willkie, president of Brown Harris Stevens. “In recent years we have seen record growth and high-end developments, such as 15 Central Park West and The Plaza, which sharply drove up average prices. Yet despite today’s turmoil in the financial services sector, our real estate market fundamentals are still solid, reinforced by limited inventory, a low percentage of investor-owned properties and tremendous equity due to cooperatives restricting financing.”

The market share of new developments increased once again, and comprised 39% of apartment sales and 70% of condominium sales during the third quarter of 2008. These new development units posted an average price of $1,669,216. The condominium average price overall was $1,651,677; however if 15 Central Park West and The Plaza are factored out, the adjusted figure of $1,541,806 represents a 7% decrease from the previous quarter.

The average price for cooperatives during the third quarter of 2008 was $1,199,909, a decline of 7% from the previous quarter but up 14% from the same period a year ago. The median price of $680,000 was positive gain of 6% compared to the third quarter of 2007.

—The East Side saw four closings of over $30 million during the third quarter of 2008, driving the four-bedroom and larger average price up by 95% when compared to the previous year.
—Average sale prices for West Side apartments, in all size categories, posted gains from the third quarter of 2007, led by a 13% increase in average price for one-bedrooms.
—Studios, one-bedroom and two-bedroom apartments Downtown all increased in average price when compared to the same period a year ago.

Transaction data for this market report is provided by ValuExchange, a proprietary database containing the largest known survey of the Manhattan residential market. This report is based on 3,165 reported Manhattan apartment sales.

The former home of Senator John and Cindy McCain is currently on the market for $12 million. Resting on more than two and one-half acres, the Phoenix, Ariz., listing is scheduled to be auctioned off on October 25th and subject to the sellers’ approval. Within the 14,000-square-foot Old World-style home one will find nine bedrooms, eight baths, three-plus fireplaces and a chef’s kitchen. A guesthouse, bar, pool and spa accent the exterior. Bob Hassett of Russ Lyon Sotheby’s International Realty has the listing.

http://russlyonsir.terabitz.com/homes/AZ/Phoenix/7110_N_Central_Avenue/63442/index.html

—Lauren Varga

Christina Lodar, International Sales Director for Unique Homes Luxury Media, recently attended FIABCI-USA’s Annual VIP Luncheon at the United Nations in New York. The luncheon celebrated the International Real Estate Federation’s, or FIABCI’s, Special Consultative Status to the Economic and Social Council of the United Nations. Over 130 leading international real estate professionals from around the world and representatives from the UN were in attendance. Lodar partook in an unparalleled opportunity to network and do business on a truly global level.

Robert M. White Jr., founder and president of Real Capital Analytics, delivered a presentation on the global outlook for commercial properties and currencies. White noted that 10 percent of U.S. buyers in 2007 were foreign, and 70 percent of European buyers are global buyers with the number of global buyers in the U.S. on the increase. As this happens, the whole world is competing for the same buyers. “These statistics are invaluable when trying to market U.S. properties to foreign buyers. It also shows that we need to start thinking outside of American boundaries and attract Europeans and Asians to the U.S. real estate market,” explained Lodar.

FIABCI-USA members from across the country welcomed FIABCI World President, Luis Correa of Colombia, during the recent national meeting in New York, N.Y. Members participated in the association’s governance and shared business tips. Tyler Clay, current President of FIABCI-USA, cited some highlights from the conference in an email to members. He noted:

” –Congratulations to new young member, Laura Farrell, of Lisa James Otto Country Properties! Laura won the Jim Wray Memorial Marketing Award for her presentation during the Networking Lunch & Marketing Session.

” –More than 20 new members received their pins during our Welcome Session and shared their experiences and expertise during the New Member Orientation Breakfast.

” –Past World President, Sheldon Good, offered tools and tips on ways the FIABCI Prix d’Excellence property awards program can help your business.

” –Danielle Grossenbacher, who has recruited 18 new members for teams, talked about how to use the Team Plan to grow membership in your local area.

” –Eugenia Foxworth led a discussion on marketing tips. The group stressed keeping in touch with clients and prospects to benefit from referrals and selecting the people you choose to work with.

” –Dagmar Sands and Kathryn Hunt chaired a lively discussion and brainstorming session of the Luxury Property Forum. The group is looking into developing a template for use by members in marketing themselves and their luxury listings.

” –Congratulations to Wayne Carroll and Greer Lee who were elected as our 2009-2010 President-Elect and Treasurer, respectively.”

FIABCI also recognized the Long Island Board of Realtors recently at a cocktail reception hosted by Shlomi Reuveni, executive vice president of Brown Harris Stevens Select, who provided an impressive venue in the former Tiffany’s Building at 15 Union Square in New York City. Special mention to FIABCI-USA’s New York Chapter President Michael Rossi of Elegran Real Estate and Development Services and to Joanne Dowds, who also served as hosts at the New York reception, providing live entertainment with a jazz ensemble.

LIBOR was cited for its philanthropic activities on a global basis and for its “We’re More Than Realtors” campaign. FIABCI serves as special consultant with NGO status to the Economic and Social Council of the United Nations Organization (ECOSOC) and through this relationship has a strong philanthropic commitment to help others throughout the world. FIABCI recognized LIBOR for this same commitment to global philanthropy. In addition to its domestic charity, LIBOR recently contributed $5,000 to the Embassy of the People’s Republic of China to assist in the ongoing recovery and rebuilding efforts in China following the devastating earthquake that hit Sichuan Province, a mountainous region in Western China on May 12, 2008. The quake, which registered more than 7.9 on the Richter scale is responsible for the deaths of nearly 70,000 people and the destruction of thousands of homes, as well as, numerous businesses and schools.