Released on: October 15, 2008, 6:32 pm

Press Release Author: Lori Ballen

Industry: Real Estate

Press Release Summary: COLDWELL BANKER HOME PRICE COMPARISON INDEX FINDS $1.7
MILLION DIFFERENCE BETWEEN NATION'S MOST EXPENSIVE AND AFFORDABLE HOUSING MARKETS
INCLUDING LAS VEGAS REAL ESTATE.

Press Release Body: Las Vegas, Nevada - Although both are waterfront cities,
something besides the salt water separates La Jolla, Calif. on the Pacific Ocean
from Sioux City, Iowa on the Missouri River - a $1.7 million dollar difference in
the cost of homes studied in the 2008 Coldwell Banker(r) Home Price Comparison Index
(HPCI). In an annual comparison of similar homes in 315 U.S. markets, La Jolla
topped the chart as the most expensive real estate market in the nation with a
$1,841,667 average home price. Sixteen hundred miles away in America's heartland
sits Sioux City, the most affordable real estate market in America, where a similar
home would cost $133,459.
La Jolla and Sioux City are not alone in representing California and the Midwest.
In fact, eight out of ten of the country's most expensive housing markets are in
California, compared to six Midwestern cities making the list of the nation's 10
most affordable home markets.
Differing from most housing reports which compare median prices, the annual Coldwell
Banker HPCI, which first launched in the late 1980's, provides and apples-to-apple
comparison of a similar type 2,200 square foot, four bedroom, two-and-a-half bath
homes in 315 markets across the United States, in addition to Puerto Rico, Canada
and a sampling of countries/territories outside of North America where Coldwell
Banker has a presence.

Subject homes in the Las Vegas Real Estate Market average $215,000 (according to the
Las Vegas Board of Realtors year to date medium price), making Las Vegas one of the
most affordable real estate markets in the nation. Las Vegas is a growing hot spot
for investors. With Las Vegas Pre foreclosure (short sales) condos offered for as
little as $25,000, now is the time to invest. Las Vegas is not only a desirable city
to live in because of the night life and no. Master Planned communites such as
Summerlin, Green Valley, and Mountains Edge offer a small community in a big city
feel with schools, parks, dining, night life, jogging trails, and much more.

"The Las Vegas Real Estate market is different than a year ago," says Lori Ballen,
marketing director for The Ballen Group of Coldwell Banker Wardley Real estate in
Las Vegas. "Our market is now driven by Las Vegas Foreclosures and Pre Foreclosures.
In the past, when we were presenting a competitive market analysis to our sellers,
we would through out the foreclosures. Now that is all we consider. Las Vegas
continues to move for lifestyle; growth of families, new jobs, and promotions. They
have moved before, they are moving today and they will move tomorrow."

Ballen also indicates that through the comprehensive HPCI section on
www.coldwellbanker.com, consumers can calculate what their homes may be worth in
other areas in the United States and Canada to gather preliminary intelligence about
the affordability of housing from one market to another.

A "Snapshot" of US Home Affordability
Offering a "snapshot" of affordability across the US, the Coldwell Banker HPCI
evaluates average home values for select 2,200 square foot single-family dwellings
with four bedrooms, two-and-one-half baths, a family room (or equivalent) and a
two-car garage1
The cumulative average sales price of the four-bedroom homes surveyed in the 315
U.S. markets (including one in Puerto Rico) covered in the Coldwell Banker HPCI is
$403,738, a 4.4% decline from the $422,343 reported in the 2007 Coldwell Banker
study.

Through the comprehensive HPCI section on www.coldwellbanker.com, prospective home
buyers and sellers can calculate what their homes may be worth in other areas in the
United States and gather preliminary intelligence about the affordability of housing
from one market to another.

2008 Coldwell Banker(r) HPCI - Highlights and Top Market Lists

# La Jolla, Calif., edges out Greenwich, Conn. ($1,787,000) and other west coast
markets as the most expensive U.S. market in the study. Also on the east coast,
Boston, Mass., ranks as the ninth most expensive ($1,493,750). Beverly Hills was
the most expensive studies U.S. market last year at $2.21 million. Note: Manhattan
in New York City was not included in the study because of the lack of comparable
single-family homes.

# Candidate comparison: Barack Obama's primary residence is Chicago, Ill., where the
average home price is $863,300, whereas John McCain lives in Phoenix, Ariz., which
averages $288,000.

# Swing states: Both candidates are likely to spend a large amount of time
campaigning in several key "swing states" between now and November. The national
economy and the housing market represent critical issues for many of these voters.
The average price in each of those states is as follows: Colorado ($402,497),
Florida ($357,596), Indiana ($224,906), Iowa ($196,134), Michigan ($201,291),
Missouri ($212,850), Nevada ($287,375), New Hampshire ($401,697), New Mexico
($478,343), Ohio ($191,051), Pennsylvania ($332,955), Virginia ($309,070) and
Wisconsin ($231,044).

# In total, 13 U.S. markets exceed the $1 million average price for the surveyed
home. Joining Greenwich and Boston on that list outside of California is Wellesley,
Mass. ($1.2 million).

# The Northeast Corridor (from Maine to Washington, D.C.) and California dominate
all but five of the most expensive "top 40" U.S. markets slots - with just one town
from those regions (Augusta, Maine) appearing among the top 40 most affordable
markets. Texas, led by Arlington, has six of the study's 40 most affordable markets.


# Canada mirrors the U.S. in that its costliest markets are primarily situated on
the West Coast. Vancouver, British Columbia, tops the Canadian list, with
comparable four-bedroom homes averaging $1,257,000 U.S. dollars. The most affordable
studied market in Canada is Charlottetown, Prince Edward Island ($157,000). The
price difference between Vancouver and Charlottetown is a stunning $1,100,000.

# Dubai is the most expensive market studied outside of North America, where an HPCI
subject home averages $2.45 million U.S. dollars, 33% higher than La Jolla.
Coldwell Banker charts a total of 15 markets outside of the United States averaging
more than $1 million, including Bucuresti, Romania ($1.9 million) and Madrid, Spain
($1.7 million). Quito, Ecuador, ($96,750) is the most affordable foreign market
included in the survey. Nine markets altogether average less than $200,000
including Guayaquil, Ecuador and Samborondon, Costa Rica.


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

Contact Details: Lori Ballen
7670 W. Lake Mead #100
Las Vegas, NV 89128
888-814-6842
sold@theballengroup.com
http://www.theballengroup.com