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.”

Unique Homes magazine’s evening at Twenty9th Park Madison’s art gallery opening, featuring works by Miguel Trelles, began at the main lobby entrance where we were greeted by inviting hosts decked out in sophisticated attire.

Developer Espais Promocions Immobiliaries teamed with the Gabarron Foundation—a non-profit organization that helps support and expose emerging Spanish-speaking artists and is a center for Spanish and South American art and culture in New York—to provide Twenty9th Park Madison’s residents with an enriching cultural opportunity.

“Twenty9th Park Madison has residents from all over the world, and we wanted to provide them with a unique cultural experience as well as the opportunity to support a neighborhood non-profit organization that encourages cultural diversity and cooperation,” says Andres Hogg, U.S. General Manager of Espais.

Our night continued on as we caught a ride on an elevator to the 22nd floor where 17 artworks by Trelles adorned the walls of three separate apartments. Studio, one- and two-bedroom apartments within the condo building span from 536 square feet to 1,309 square feet and are highlighted by the finest finishes. Prices on these units range from $635,000 to $2 million.

Another elevator ride to a two-bedroom, two-bath model penthouse revealed awe-inspiring views from floor-to-ceiling windows. Twenty9th Park Madison offers 10 penthouse units on the top four floors. Penthouses range from 1,255 square feet to 2,070 square feet in space and start at $2.3 million.

Interior spaces are designed with exceptional taste. Teak hardwoods map out the floor plans; Bosch stacked in-unit washers/dryers are situated for convenience; limestone tiling, soaking tubs and separate showers with rain shower heads are positioned for relaxing in the bath retreats; and top-of-the-line kitchen appliances are in place for the food connoisseur.

But, perhaps the most splendid piece of artwork and the highpoint of Unique Homes’ evening was our arrival at Twenty9th Park Madison’s rooftop. Here, views of the Chrysler and Empire State Buildings immediately caught our eyes. Quaint sitting areas and barbecue stations are set up for small gatherings or larger events.

A silent auction of Trelles’ pieces rounded out our evening. Proceeds from the auction went to support the work of the Gabarron Foundation.

Coldwell Banker Hunt Kennedy’s new development division is the exclusive marketing and sales agent for Twenty9th Park Madison.

—Sarah Binder & Lauren Varga
 

Since I frequently write about green homes, anything related to energy efficient real estate grabs my attention, as did the recent release by the American Institute of Architects (AIA) and its Committee on the Environment’s (COTE) top 10 examples of sustainable architecture for 2009. These projects will be honored at the annual AIA convention in San Francisco from April 30 to May 2. While this annual list typically includes commercial and government buildings, schools and churches, this year’s honorees include two residential projects: Synergy at Dockside Green and Gish Apartments.

Synergy at Dockside Green is a mixed-use development on a former brownfield site in Victoria, British Columbia. The first community in the world to receive a LEED Platinum certification, according to designer Perkins+Will, Synergy includes a nine-story residential tower with commercial units on the ground floor; a two-story townhouse building; a six-story building with commercial units on the ground floor; and a four-story residential building. Sustainable elements include an integrated energy system that ensures the development will be greenhouse gas neutral, on-site wastewater treatment estimated to save more than 70,000 gallons of water annually, rooftop gardens, a car co-op with a Smart Car, Energy Star appliances, heat recovery ventilation units and Low-E double-glazed windows.

Gish Apartments in San Jose, Calif., is a transit-oriented apartment complex that breaks new ground for both design and green building. Also located on a brownfield site, Gish was built using locally produced materials and it offers a 25.7 percent improved efficiency over the state’s standards and a 36 percent reduction in indoor water usage compared to a conventional home. Gish is the only affordable housing development in the U.S. to receive both LEED for Homes and LEED NC Gold certification.

According to AIA, projects honored by the Top Ten Green program have an integrated approach to architecture, natural systems and technology. Typically, the projects use strategies such as the re-use of existing structures, a connection to transit systems, low-impact and regenerative site development, energy and water conservation, the use of sustainable or renewable construction materials and implementing designs that improve indoor air quality.

Unlike other awards, the Top Ten Green program pays as much attention to design as it does to performance. “In architecture, performance and aesthetics are inextricably linked. The COTE Top Ten is one of the very few awards that evaluates performance and design,” said the jury.  “Other awards and organizations look strictly at performance without care for how a building looks.” Look for more green stories in the next issue of Unique Homes magazine. Photo courtesy Synergy Dockside Green. —Camilla McLaughlin

During a recession, tons of deals jump up all over the place. Some are worth the price and others are accompanied by catches and fine print sure to cause a headache. Decide for yourself concerning this deal:

In Leesburg, Va., a 2-story, 2,500-plus-square-foot, 1880s farmhouse is being offered for $1, but the land beneath it is not for sale, so the future owner will have to pay to have the house moved to his or her location of choice.

Currently on the 8-acre property of the Loudoun Country Day School, the home will have to be removed from the lot when the school moves this summer to a new $32 million, 70-acre campus. Blacksburg, Va.-based company H.H. Hunt is turning the 8-acre lot into a $12 million assisted living residence.

Bo Cook, director of development at H.H. Hunt, explains that the buyer will need to seek permission from the town, the county and possibly the Virginia Department of Transportation in order to cart the house away. So far, three serious offers have been made on the farmhouse, by a nonprofit organization, a medical facility and someone who wanted to convert it to short-term housing.

– Sarah Binder

After reviewing 678 entries, the National Kitchen and Bath Association (NKBA) has reported 10 latest kitchen and bath trends for 2009. The finalists’ designs will be presented in a photo gallery display at the NKBA’s Kitchen/Bath Industry Show & Conference from April 30 to May 3rd at the Georgia World Congress Center in Atlanta, Ga.

"The trends spotted in this year’s competition are a great example of what’s to come in kitchen and bath design," said President of the NKBA Suzie Williford. "Each new trend will help turn a room into a well-designed, classic space."

The top 10 design elements for 2009 are as follows:

Steel counters: Stainless steel is emerging as a new countertop favorite in kitchen design by creating a sleek, modern look that ties in perfectly with stainless-steel appliances. It’s part of a styling trend, which combines the ingredients of a commercial-style kitchen with the warmth of cherry cabinets and natural stone floor, creating a room that is efficient, yet comfortable.

Black and white kitchens: Eschewing color, dramatic black and white color schemes are becoming the norm with its contrast in both value and sheen. The versatility and functionality create visual interest while blending together for a simple feeling.

Mirror, mirror off the wall: We’re seeing mirrors creatively popping up as freestanding furniture pieces, including back-to-back mirrors, sinks and faucets to provide a clear his-and-hers space. 

Resin panels: This year we’re seeing a number of designs with backsplashes made of interesting items such as fabric, mesh and bamboo, encased in plastic panel.

Tin ceilings: Tin ceilings are being increasingly used to make kitchens more visual and provide symmetrical focal points.

Floating cabinets: To create a cleaner, more open feel, many of the latest bathroom designs are eliminating cabinet legs and toe kicks in favor of floating, wall-mounted units. This leaves a large open area beneath the cabinet, which makes the room feel more spacious. 

Stone hearths: Huge, dramatic hearths made of natural stone are becoming more common in kitchens.

Shoji screens: The Asian-influenced shoji screen is now gaining popularity in a number of kitchen designs as they provide separation between kitchens and other living spaces when needed, while still allowing light to pass through.

Chrome is back: After years of yielding to finishes like brushed nickel and oil-rubbed bronze, polished chrome is making a comeback, particularly in bathrooms.

Glass elements: Glass is turning up in countertops and backsplashes.

CHARLOTTE, NC—RealEstate.com recently launched a real estate channel on YouTube for its RealEstate.com, REALTORS® company-owned brokerage, which can be found here: www.youtube.com/realestate. RealEstate.com, REALTORS® will display real estate listings from 20 national markets on YouTube in a video format by collaborating with CirclePix, a national provider of virtual tour services, offering an additional level of exposure for sellers and their listings.

Visitors to the new RealEstate.com, REALTORS® YouTube Web site can search for videos of thousands of homes for sale by entering in criteria such as MLS number, address, city or zip code. After browsing listings details and a virtual tour of the inside and outside of the property, a visitor can call 1.866.285.3226 to be directly connected with a local real estate agent. An agent will help guide the potential homebuyer through the MLS listings and set up appointments to view houses for sale.

"Launching RealEstate.com, REALTORS® on YouTube creates a new, fantastic vehicle for us to reach consumers in way that makes real estate shopping fun and easy," says Greg Hanson, Senior Vice President and General Manager of RealEstate.com. "With the help of CirclePix, we can now provide a way for potential customers to see a virtual tour of available properties while providing our more than 1,100 real estate agents with greater exposure for their real estate listings. It’s certainly a win-win for our customers and our agents."

According to a January 2009 comScore survey, nearly 77 percent of total U.S. Internet users viewed online videos, and YouTube attracted more than 100 million viewers to its millions of online videos. Mr. Hanson adds, "We know most homebuyers start their search online. We also know that Internet users are diverse and that videos of homes for sale provide a new outlet for home shopping versus seeking a local real estate brokerage Web site in each market they are searching. Showcasing our listings to this highly engaged, Internet-savvy audience creates a huge opportunity of greater exposure for our sellers’ listings."

Sarasota, Fla.

In the most significant sale of its type since August 2008, an 18th-floor penthouse above the Ritz-Carlton Hotel—located at 1111 Ritz-Carlton Drive—sold on Monday, March 9th for $3.3 million. Listed on January 26th for $3.995 million, the condominium sold for 90 percent of its original list price and was bound to contract in a mere 16 days. Representing the seller was Linda Driggs of the Main Street office of Michael Saunders & Company. The buyer was represented by Prudential Palms Realty.

With more than 5,000 square feet of living space, the penthouse includes four bedroom suites, a dramatic entry foyer, spacious living room and formal dining room, an eat-in kitchen and a den/library. Incomparable sunset views over the Gulf of Mexico, along with stylishly appointed interiors and the finest in amenities and concierge services offered by The Ritz-Carlton Hotel, contributed to the property’s exceedingly short stay on the market.

Monday’s sale was the highest for a luxury condominium since August of 2008, when another penthouse in the same building sold for $3.6 million. In that transaction, Lyn Wiley—of the Main Street office of Michael Saunders & Company—represented the seller; Beth Afflebach and Joan Dickinson, with the Ritz-Carlton office of Michael Saunders & Company, represented the buyer.

– Sarah Binder

Luxuryrealestate.com will award Shari Chase, CEO and president of Chase International, with its Lifetime Achievement Award at the annual spring retreat, which will be held from Sunday, April 26 to Wednesday, April 29. Being held in Las Vegas, Nev., the retreat will host Olympic gold medalist Mary Whipple as its keynote speaker.

Winning an Olympic gold medal and being awarded a Lifetime Achievement Award are not simple tasks; they take perseverance, teamwork and energy. Both Chase and Whipple have exemplified these traits throughout their careers and continue to do so.

According to luxuryrealestate.com, the Lifetime Achievement Award is given twice a year to the Luxury Real Estate member who has set an example for the real estate industry, displayed excellence throughout their career and is truly a legend. For the past 23 year, Chase, president and CEO of Chase International, has been fitting the bill.

An award-winner herself, Whipple will discuss turning weaknesses into strengths, recognizing your place in a team environment as well as acknowledging the importance of one’s teammates. 

—Lauren Varga
 

If you don’t mind your neighbors throwing loud, out-of-control parties, you can live next door to the Playboy mansion for only 28 million dollars. Hugh Hefner and his wife, Kimberley Conrad Hefner, who have lived in adjacent mansions since their 1999 separation, are listing Ms. Hefner’s Los Angeles home for $28 million. Standing next door to the Playboy mansion in Holmby Hills, the 1929 brick and wood English manor-style house, on 2.3 acres, measures 7,300 square feet and has a pool and a three-car garage, as well as a door in the wall separating the home from the Playboy mansion. Original wood paneling and a hand-carved staircase are just a few fine highlights.

Joyce Rey and Stacy Gottula, of Coldwell Banker Previews International, are representing the listing, according to The Wall Street Journal.

***

Patrick Dempsey, also known as Derek Shepherd/Dr. McDreamy on ABC’s staple drama Grey’s Anatomy, is listing his four-bedroom, five-full- and one-half-bath New England Traditional in Bel-Air for $3.595 million. Though, with his character’s long-awaited nuptials soon to air, the actor’s well equipped home might garner an even higher price.

Perfect for entertaining with adults and children, the gated and hedged property features a pool, brick patio, flat lawn and a matching treehouse with a porch, which sits high up on the slope of the property.

Brett Lawyer, of Sotheby’s International Realty, is representing the listing, according to the Los Angeles Times.

***

Eli Stone’s Natasha Henstridge has listed her 3,825-square-foot, five-bedroom, five-bath Sherman Oaks Traditional for $1.75 million. Boasting views of the San Fernando Valley, the home includes an entertainment deck, formal dining room, and hardwood floors and high-beamed ceilings in the public areas. The half-acre lot also offers a pool and a pool deck area.

Henstridge, 34, plays lawyer Taylor Wethersby on the ABC comedy-drama.

Matt Epstein, of RE/MAX on the Boulevard, is representing the listing, according to the Los Angeles Times.

– Sarah Binder