Released on: August 19, 2008, 5:05 am

Press Release Author: Aspen Sotheby\'s International Realty

Industry: Real Estate

Press Release Summary: Despite media reports to the contrary, real estate is still
considered a sound investment and affluent consumers are confident both in the
current housing market and that the value of their home has remained constant,
according to a consumer research study undertaken by Architectural Digest with
Sotheby's International Realty Affiliates LLC.

Press Release Body: In the newly commissioned survey, "Seeking an Extraordinary
Lifestyle," 85% of respondents agreed with the statement, "I think real estate
continues to be one of the better investments a person can make." The study further
revealed:

. 72% of respondents believe their primary home value has remained constant or
increased in value over the last 12 months (46% remained constant; 26% increased).

. Nearly two-thirds of respondents report that current conditions have "no effect"
on their likelihood to sell their primary home (63%).

. In the coming year, 79% believe the value of their primary home will continue to
remain constant or increase (55% remain constant; 24% will increase).

. In the next year, more than half (54%) of the million-dollar homeowners plan to
buy, sell, build or invest in a new home.

. 69% of million-dollar homeowners agree that now is a good time to add to one's
real estate holdings.

. 71% agree, "Over time, nothing beats real estate for building one's personal wealth."






The respondents feel that the media plays a role in the perception of the current
real estate market conditions:
 Half (50%) of respondents think the media exaggerates conditions to make
the market seem worse than it is.

"This study confirms that even in a downturn economy, our readers are what we call
'recession- proof'," said Giulio Capua, vice president and publisher of
Architectural Digest. "They continue to spend money on real estate and other luxury
goods and services."

According to Michael R. Good, president and chief executive officer, Sotheby's
International Realty Affiliates LLC, the study proves that real estate continues to
be seen as a valuable investment opportunity, especially among consumers in the
luxury market.

"This study validates the assertion that real estate is one of the best long-term
investments a person can make, regardless of current market conditions. Affluent
consumers know that real estate plays a key role in their long-term strategy to
increase personal wealth," said Good. "And among those consumers seeking to add to
their real estate portfolio, the top criteria for choosing a property are location,
price, amenities and home features."

"The Aspen market is seeing steady home sales that compare to our market in
2004/2005. These were record setting sales years and at the time everyone
considered the market to be hot. There are still a number of buyers looking for
real estate and although asking prices have declined, prices paid have been
comparable to the last year." said Mike Russo, president of Aspen Sotheby's
International Realty. "The strength of the Sotheby's International Realty network
and its global recognition has helped us reach clients all over the world. In
addition, the brand's marketing support combined with our local statistical data has
enabled us to showcase to our clients why real estate truly is a sound and valuable
investment in their financial portfolios."

Aspen Sotheby's International Realty has an incomparable depth of local expertise in
the Aspen, Colorado area. In servicing the Roaring Fork Valley, they understand
that a home, regardless of its price, reflects the incalculable value of the life
within. For more information about how Aspen Sotheby's International Realty brokers
can help you, call 970-925-1730, or visit: www.aspensothebysrealty.com

Research Methodology
Beta Research Corporation conducted a geo-specific mail survey to 3,500
Architectural Digest subscribers with a household income of $100,000+ and a home
valued at $1,000,000+ on behalf of Condé Nast Publications in the following
designated market areas: New York, Los Angeles, Chicago, San Francisco/Oakland/San
Jose, Boston, Atlanta, Miami/Ft. Lauderdale, San Diego, Denver and Detroit. The
survey was conducted between February 19 and March 14, 2008. There were 510
respondents.






About Architectural Digest
Architectural Digest is the world's definitive design magazine, reaching an audience
of over 4 million readers each month. The magazine features the work of world-class
authors and photographers and regularly presents a "first look" at the homes of
leaders in the fields of entertainment, fashion, business, society and the arts.
For more information, visit www.architecturaldigest.com

About Sotheby's International Realty Affiliates LLC
The Sotheby's International Realty network currently has more than 9,500 sales
associates located in more than 485 offices in the United States and 32 other
countries and territories.

Founded in 1976 to provide independent brokerages with a powerful marketing and
referral program for luxury listings, the Sotheby's International Realty network was
designed to connect the finest independent real estate companies to the most
prestigious clientele in the world. In February 2004, Realogy Corporation, a global
provider of real estate and relocation services, entered into a long-term strategic
alliance with Sotheby's, the operator of the auction house. The agreement provided
for the licensing of the Sotheby's International Realty name and the development of
a full franchise system by Realogy's subsidiary, Sotheby's International Realty
Affiliates LLC. Affiliations in the system are granted only to brokerages and
individuals meeting strict qualifications. Sotheby's International Realty Affiliates
LLC supports its affiliates with a host of operational, marketing, recruiting,
educational and business development resources. Franchise affiliates also benefit
from an association with the venerable Sotheby's auction house, established in 1744.
For more information, visit www.sothebysrealty.com.




Web Site: http://www.aspenlandandhomes.com

Contact Details: Mike Russo
315 South Galena Street
Aspen, CO 81611
Phone: 970.274.9801
E-Mail: Mike.russo@sothebysrealty.com
http://www.aspenlandandhomes.com