DENVER, CO, July 02, 2009
/24-7PressRelease/ -- Integrated Asset Services , LLC (IAS ) (www.iasreo.com), a leader in default management and residential collateral valuation, this month celebrated the first anniversary of its IAS360 House Price Index (http://www.iasreo.com/ias360_update.html).
The IAS360 HPI remains the only index to track U.S. housing trends at a county level. The index tracks monthly change in the median sales price of detached single-family residences in more than 15,000 "neighborhoods" across the U.S., then rolls the data up to 360 counties, nine census divisions, four regions, and the nation overall. The timeliness of the data, which is based on all arms-length transactions occurring in underlying neighborhoods, makes the IAS360 HPI a leading indicator for housing price trends in the U.S.
The index was recently awarded Personal Real Estate Investor Magazine's Editors' Choice Award.
"The granularity of the IAS360 HPI takes it deeper into U.S. housing data than other observational tools" said David McCarthy, President and CEO of Integrated Asset Services. "And given the timely monthly reporting, we'll be the first to see the markets turn at the county level."
IAS' methodology integrates multiple data sources beginning with familiar Census Block, most Multiple Listing Services, Bureau of Labor Statistics, HUD, and county recorder data. These feed to an automated valuation model for individual home value index designed to track housing prices for banks and investors. The IAS360 HPI measures median sales price trends at multiple areas within a county to report price performance within an individual market. The index covers only single-family homes, though IAS does provide a separate report on condos.
IAS's innovative methodology has been well-received by a demanding marketplace. With its timely and granular data, the IAS 360 has been receiving increasing press attention since its first appearance 12 months ago. In addition to its recognition by Personal Real Estate Investor Magazine, the index has received increasing coverage by leading industry media outlets like The Wall Street Journal, CNBC, U.S. News &World Report, Business Week, Reuters, ABC News Radio, CBS News Radio, Housing Wire, Mortgage Banking Magazine, Mortgage Servicing News, and National Mortgage News.
"The better housing price indexes are all useful at the Metropolitan Statistical Area level," said McCarthy. "The IAS360 adds another level of information with its neighborhood data. That, plus the fact the index captures seasonality, makes it quite valuable to homebuyers, lenders, and investors."
For the financial services industry, the IAS360 HPI provides the logic to determine value, risk, and volatility for loss mitigation and short sale negotiations. This data gives lenders an indication of market movement and sets a median price range covering the previous six quarters. Regression testing of the IAS methodology has proven that the IAS360 HPI index and forecasts are extremely accurate.
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.
Contact Information:
Dan Mahoney
CSG|PR
970-405-8060
dmahoney@csg-pr.com
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