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.

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.
 

The devastation is incomprehensible. An unbelievable 750-plus homes destroyed, 350,000 hectares of land consumed, with more than 150 lives lost—a number that is sadly expected to rise. Our thoughts extend to all those who have been affected by hell’s fury.

Donations and pledges have reached $70 million AUD, but much more is needed. There are ways to help those involved. For more information on how to assist, please check out the links below.

 Important Contacts & Advice:

Victorian Bushfires — support website

Victorian Bushfire Information Line: 1800 240 667

Victorian Bushfire Accommodation Donation Hotline: 1800 006 468

How you can help people affected by the bushfires

Country Fire Authority Victoria

State Emergency Services

Victorian Government

Victorian Council of Social Services

Bushfire Appeal

Bushfire Information Line

Free Legal Advice

Australian Red Cross (the Red Cross have advised that their donation line and website are struggling under the weight of demand, but ask that you keep trying! Additionally, please give blood - the Victorian blood-bank is struggling.)

Salvation Army

Commbank - Emergency claims and assistance, donations, including clothes, household goods

Commonwealth Bank Bushfire Appeal

Wildlife Victoria - donate to help save the animals caught in the fires (special request: please leave water outside for injured animals, and keep household pets - cats and dogs - contained to protect weaker wildlife)

 —Robert Burke

Interior designers, architects and manufacturers are invited to submit their applications for the second annual Earth-Minded Awards. Created by The American Society of Interior Designers and Hospitality Design magazine, the Earth-Minded Awards recognize sustainable design projects and products that are aesthetically pleasing, environmentally innovative, promote sustainability, incorporate recycling and waste management and integrate efficiency.

This year’s Earth-Minded Awards will feature a new category, The Earth-Minded Award for Tomorrow, aimed at interior design and architectural students. “With the new tomorrow award, we will recognize students and their earth-minded design solutions, getting a glimpse into the future of sustainable hospitality design,” said Michael Alin, Hon. FASID, ASID Executive Director.

Only completed projects and manufactured products with be considered. For complete eligibility guidelines and to download the entry form, click here. All entries must be received by March 1, 2009.

Winners will be announced at Hospitality Design’s Green Luncheon, held during the HD Expo in Las Vegas, May 13-16, 2009.

—Shari Barbanel

Organically shaped bathroom furnishings that look as though they’ve been naturally sculpted and boast precision, high quality, and design, are just a few features of Laufen’s elite collection of designer bathroom offerings.

The Swiss bathroom manufacturer is the first ceramic bathroom product manufacturer in Switzerland, and boasts collections conceptualized by renowned designers and architects.

The Palomba Collection, seen here, is the brainchild of interior designers and husband-and-wife team Ludovica and Roberto Palomba, and is a collection that exudes quality, vision, and the smoothness of architectural lines and high functionality. Guilio Cappellini, art director of Laufen Bathrooms, says, “Ludovica and Roberto love lightness and, therefore, water. In their design projects a real passion for this natural element comes through and this reflects the clarity they use when they design.”

Recently introduced in the U.S. and Canada, The Palomba Collection has won six internationally recognized awards and provides clients the sophistication of a bathroom culture that matches the refinement of their entire residence.

Simply put—this is not your grandmother’s bathroom.

—Holly Marie Busacca
 

The Home Price Index for December was released by the Integrated Asset Services, LLC (IAS). The index reflects a 13.8% decline in house prices for 2008 and an overall decline of 19.1% since the market’s peak at the tail-end of 2006.

The report also notes 10 counties hit the hardest during the national decline, showing that many were in states that saw the largest gains during the housing bubble, including California and Florida.

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. The Northeast saw 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.

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.

But an end to the decline may be in sight, as noted in a in a story published on Bloomberg.com. Despite the continued price fall, Moody’s Economy.com suggests the light at the end of the tunnel is approaching. Prices will likely continue a decline through much of 2009, but are expected reach bottom by year’s end. For more on this, check out the story at Bloomberg.com.

 —Robert Burke

*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.

Luxury is defined as the means to revel in a great state of comfort and enjoy extravagant indulgences. At House of Petals in Los Angeles, affluent Angelenos purchase show-stopping flowers in creative designs that truly create a statement of grandeur that cannot be matched.

Whether you are influenced by a media mogul such as Oprah Winfrey, an international icon like Sophia Loren or by the political prowess of Hillary Clinton, rest assured House of Petals will create an exquisite arrangement for the most discerning desires.  

With a repertoire of clients ranging from entrepreneurs, celebrities and California’s elite, the floral couturiers have provided arrangements for the Golden Globe Awards, Sundance Film Festival, and Academy Awards—as well as legendary landmarks in The City of Angels—from Chateau Marmont to Hotel Bel-Air.

Little luxuries can surely brighten your day.

—Holly Marie Busacca

Contact House of Petals LA online or via phone at 323.930.2600. Arrangements from left to right: "Princess Diana," $400; "Sophia Loren," $120

Educational video access at your fingertips—RealtyAcademy.com offers exactly that!

Through cutting-edge video technology, real estate experts now have free access to professionally produced videos featuring many of the industry’s top coaches, speakers, vendors and authors. RealtyAcademy.com’s video channel highlights industry experts and covers a variety of topics including strategies, techniques and principles designed to assist agents during challenging times.

Interviews with real estate experts are recorded regularly in both the Realty Academy’s Orlando area studio, as well as at other locations around the nation.

The multi-channel video player allows real estate professionals to view experts and topics on-demand, while learning at their leisure.

RealtyAcademy.com’s one-click functionality offers the ability to e-mail the videos, as well as embed them on blogs and websites.

For more on Realty Academy, visit RealtyAcademy.com

Realty Academy is a division of Realty Video USA, which offers a wide variety of specialized video content and services for the real estate industry.

—Robert Burke
 

When facing unfavorable market conditions, maintaining a unique, competitive image is crucial to expanding a viable brand within the niche market of luxury real estate.

On January 22, Donna Lee Laue, founder of Unique Global Estates, spoke with Rick Goodwin to discuss the presentation, environment, and sustainability of high-end listings and the implementation of cutting-edge trends throughout the luxury real estate market.

As publisher of Unique Homes and a partner of Unique Global Estates, Goodwin is well versed in luxury home sales and has been involved with the marketing of luxury real estate for more than 25 years. Considered by Laue as “one of the most trusted professionals in our industry and the heart of Unique Homes magazine,” Goodwin spoke to Luxury Ambassadors at Unique Global Estates on the factors and business trends surrounding current market conditions.

“The high-end is all about niche marketing. You want to promote your properties in an environment that is going to reach the people that can afford them, is going to reach the people that you want to have as your clients down the road, and in an environment that complements the property,” says Goodwin. He continues, “If you’re working with listings and sales are down, you still have to maintain a presence. You still have to keep your clients satisfied, and at the same time, you’ve got to keep yourself out there in front of the marketplace.”

In an industry constantly in a state of flux, businesses must maintain visibility, and in an era of Internet revolution, Goodwin proves his brand will stay the course. With a recent purchase of a video camera, green screen, and studio-quality equipment, Goodwin has started the process of creating promotional videos and real estate segments to reach clients while maintaining a strong online presence in the realm of luxury real estate.

“People like to look at a story rather than read a story—it’s visual…it’s a more interesting way to present properties and for agents to present themselves,” says Goodwin. “One of the reasons that pictures are so predominant on business cards is because it helps put a face and a personality to a Realtor—a video can actually do even more than that. It can really allow you to show who you are, and talk about who you are and what you’ve done, so that you really get to make your case to the consumer as to why you are someone that they should consider working with.”

Along with new video features, UniqueHomes.com offers a section called “Specialists,” dedicated to luxury agents, an updated Blog with RSS feed and links for readers to add articles of interest via del.icio.us, Digg, Facebook, and StumbleUpon—all related to social networking and bookmarking that ultimately provide an environment that reaches out to clients—and utilizes search engine optimization while working on a host of new services to promote and build brand recognition in a slow market.

Cutting-edge marketing tools and innovative practices are benchmarks of today’s luxury market, and Goodwin says, “The exciting part of a down market is that you get the opportunity to be creative.”

—Holly Marie Busacca

A private island with 124 acres of lush rain forest and towering coconut trees all lined by more than a mile of pristine beaches—Sound inviting? Welcome to the Cacao Pearl, the first non-profit luxury eco-resort community. Located in Palawan, South East Asia, the Cacao Pearl will present a unique opportunity to enjoy a stunning eco preservation locale. 

Designed by former film director Antonio Calvo, the low-density boutique resort concept will offer sustainable development and enjoyment.  Even more attractive about this unique island resort is 100% of the resort’s net operating profits will be used to support local environmental and social programs.

The very best for a luxury lifestyle—Five-star service, designer homes with zero carbon cost, infinity pools, a secluded destination spa, private media rooms—coupled with an eco-friendly approach to the area’s natural surroundings is certain to delight the most discerning guest.

For more information on this island paradise, visit www.CacaoResorts.com and www.BarefootSophistication.com.

—Robert Burke