Buyers Spring Back into Favorite Real Estate Markets

Local real estate experts in five resort and residential markets – Myrtle Beach, Las Vegas, Greenville, Los Angeles and Sarasota FL, are reporting brisk sales in an earlier-than-normal spring buying season. Could the bottom of the market be here already?

Myrtle Beach, SC (PRWEB) April 30, 2009 — Late spring and early summer is glorious in Myrtle Beach, and judging from the restaurant lines and traffic, this may be one of the best years yet. With less rain than usual, Myrtle Beach golf courses have been in full swing. Our northern neighbors never fail to be charmed by the gorgeous weather, and this time of year inevitably brings a surge of retirees looking to move south – a surge that our beleaguered real estate agents will appreciate.

Many of our better restaurants have an hour or more wait already, which is unusual this early in the year. While groups of golfers can be found in all of them, there is a noticeable number of "baby boomer" couples filling the seats as well, a result of the numerous vacation condos that were purchased during the real estate rush several years ago. As each week passes, vacationers replace owners, and summer brings the tourist season in full force. Owners use the rental income to pay the bills, and hopefully real estate sales will change from foreclosure hunters to buyers looking for the perfect vacation resort. All in all, 2009 promises to be a banner year for Myrtle Beach real estate!

Las Vegas, NV – Summer started heating up early this year in Vegas, and we don’t mean temperature wise! March statistics for Las Vegas real estate sales showed an incredible 80% increase over last year’s sales during the same time period. Prices are affordable for the first time in years, and many are taking advantage of the $8000 first time homebuyer tax credit.

Those buyers have some stiff competition though: Las Vegas has been named one of the top six undervalued markets in the country, and investors are once more closing in. Single family homes in beautiful neighborhoods that sold three years ago for well over $300k are now priced in the $150k to $170k range, and those listings are generating crazy multiple offer scenarios reminiscent of the 2003 and 2004 boom years.

But the STEALS are in the Las Vegas luxury homes segment. Incredible estates in elite neighborhoods and fully furnished high rise condos in Trump Towers on the Strip are selling for literally 30 to 50 cents on the dollar. It’s not too late to buy a townhome in Lake Las Vegas that originally sold at $850k for under $200k with superb golf and lake views!

Greenville, SC – Greenville is a city that is true to its name especially in Spring. The incredible rain this past winter helped the Upstate to spring its glorious colors with azaleas, dogwoods, clematis and more blooming everywhere. The world renowned golf courses are looking sharp with new cut green grass and Greenville SC homes are starting to sell. We have seen an increase in the number of people looking for new homes since January of this year.

It is no wonder, with the stability of the Greenville SC real estate market influenced in part by the business environment. Greenville was rated the top North American City of less than 100,000 in population for business expansion and prospects of economic development by FDI Magazine, a "foreign direct investment (FDI) magazine. Even during these tough economic times the Greenville market’s home values have held steady and even appreciated 2.8% according to Zillow’s January Home value report. Forbes.com considers Greenville as one of the best places to weather an economic downturn, number five on their list. Money magazine predicts Greenville will be one of the areas recovering first from the "Great Housing Paralysis of 2009" as they are calling our current U.S. markets.

Los Angeles, CA – The spring market for Los Angeles real estate has started to blossom! Real estate agents report that open houses are teeming with potential home buyers who are expressing optimism about the opportunities in today’s housing market. What makes this year different is that this real estate market is heavily weighted in distressed properties. With California ranking third in the foreclosure rate nationwide, buyers are finding favorable prices on foreclosures, short sales and bank-owned properties. Agents report that multiple offers on these distressed properties are commonplace, with actual sales prices often going for more than the list price within days of coming on the market. This is frustrating home buyers, who are facing stiff buying competition in many price ranges.

With 50 year record-low interest rates and government incentive programs, many home buyers find that their mortgage payment will be less than their current rental amount. Investors who are feeling more comfortable about their personal finances are gradually returning to the real estate market. And, with affordable housing available, many are expecting that the spring activity levels of Southern California real estate will continue into the summer months.

Sarasota, FL – Annette Smith, Realtor, and Broker John Allen, of Allen Real Estate Services, Inc. report that a successful spring season is winding up for Sarasota Florida real estate sales. University Park, an award winning Sarasota Golf community, saw intense buyer activity as well as builder deals and affordable homes in the Lakewood Ranch area. The luxury golf course community of the Oaks was active too.

University Park is ranked as one of the Florida’s top golf course communities and its awards include "Best Community Design in America". Residents of University Park experience a resort lifestyle in this golf community with access to 27 holes on its championship golf course. The amenities were on this season’s wishlist for baby boomer retirees desiring to relocate to a Sarasota golf course home. More than 80 golf courses await these real estate buyers as well as the white sands of the Gulf of Mexico for those who love beach, fishing, wildlife and natural surroundings. Sarasota’s sunsets are sensational too!

Those interested in real estate in these areas should contact the authors below:

Richard Brooks
Condolux Real Estate Sales
311 17th Ave South
North Myrtle Beach, SC 29582
(843) 333-0470

Diann Tonnesen
Prudential Americana Group Realtors
871 Coronado Center
Henderson, NV 89052
(702) 985-7654

Lee Cunningham
Re/Max Realty Professionals
600 Independence Boulevard
Greenville, SC 29615
(864) 679-0707

Fran and Rowena
Dilbeck Realtors GMAC
1030 Foothill Blvd
La Canada, CA 91011
(818) 952-0077

Annette Ashley Smith
Allen Real Estate Services, Inc.
7131 Curtis Avenue, Suite 1
Sarasota, FL 34231
(941) 504-3922

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Oil-Powered Boilers May Be Bursting with Home Insurance Claims

Some oil-powered boilers may not be covered by standard home insurance, leaving homeowners vulnerable to costly repairs, warns Swinton. Swinton, the UK’s leading high street retailer of home insurance, estimates that there are one million oil-powered boilers currently in use in the UK.

(PRWEB) April 30, 2009 — The Environment Agency is also warning that even small leaks can heavily pollute the water supply. Just one litre of oil needed to contaminate one million litres of drinking water.

Oil-powered boilers should be professionally checked each year, consisting of:

1. Visual inspection
2. Cleaning
3. Operation (adjustment and analysis)
4. Parts replacement
5. Documentation

Steve Chelton, Insurer Development Manager from Swinton, the UK’s leading high street home insurance retailer, said: "A leaking boiler can cause untold amounts of damage. If not properly insured a homeowner will have to pay the repair bill. We would strongly recommend that anyone with an oil-burning boiler check that their home insurance policy fully covers for any accidents.

"It can also be very dangerous keeping fuel in the home, so make sure that it is stored correctly to avoid any potential hazards."

For more information contact Michael Travers or Anoushka Foster at Manchester PR agency SKV Communications on 0161 838 7770.

About Swinton:

• With 580 branches nationwide Swinton is the UK’s largest high street insurance retailer

• Unlike many other companies in the financial services industry, Swinton is committed to keeping its branches open for business, and part of the community

• Swinton provides a one-stop-shop for the insurance and related needs of its clients, offering home, car, caravan, business, holiday, motorbike and even classic car insurance

• With a dedicated team of advisors on hand at every branch to search a panel of insurers to offer quality cover at competitive rates

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Prudential Lifestyle Realty Discovers the Forecast for the 2009 Asheville Area Real Estate Market Brightens as Springtime Arrives

The Asheville area has held its value better than most of the USA, and is poised for substantial gains as credit loosens, buyers return, and emergency economic stimulus plans gain traction. For Asheville real estate agency Prudential Lifestyle Realty, calls are up, web site visits are up, and the market outlook is bright.

Asheville, NC (PRWEB) April 30, 2009 — Prudential Lifestyle Realty has done its research. It has found fresh data from several respected sources, that confirms what many local REALTORS® and mortgage brokers had already predicted – a more optimistic outlook for Asheville area real estate in 2009.

Compelling evidence that confidence is returning to the markets can be seen in recent data related to the pace of home sales and mortgage lending activity.
• The Federal Home Loan Corporation or "Freddie Mac" reports that mortgage interest rates are now at historically low levels, dipping below five percent. Not since Freddie Mac began keeping records back in 1971 have reliable and safe 30-year fixed rates been that cheap and attractive.
• The "Home Affordability Index" compiled by the National Association of Realtors (NAR) also broke a record held since the early 1970s. According to that closely watched index, homes across the USA are now more affordable overall than they have been in nearly four decades.
• According to the Mortgage Bankers Association, banks are seeing a surge in loan applications, both for buyers and for homeowners wanting to refinance. CEO Ken Lewis of Charlotte-based Bank of America told reporters that the bank increased its staff by some 5,000 people in order to meet the increased mortgage loan processing demand.

To ensure that the housing sector continues its recovery, the government is also busy.
• The Fed is investing some $1.5 trillion in mortgage-backed securities. This proactive strategy aids banks that have been burdened by mortgages that private investors have been reluctant to purchase. That, in turn, makes retail mortgages more affordable for average consumers as banks return to normalcy.
• President Obama also launched the successful Making Home Affordable initiative, an FHA program that is helping homeowners avoid foreclosure through loan modifications that reduce their monthly payments.
• But one of the biggest reasons that Asheville area property sales are expected to rise is that first-time buyers are eligible for a huge $8,000 tax break from the IRS. The official definition of a "first-time" home buyer is someone who has not purchased a home within the past three years, and that broad category includes many people in WNC.
According to Standard & Poor’s/Case-Shiller Index, median prices for single family homes nationwide have fallen by about 30 percent from peak levels reached back in 2006. While loss of value has been problematic, it has also yielded a positive outcome that is a fundamental necessity before markets can experience a sustainable recovery. Plummeting prices have effectively eliminated the kind of frenzied excess that caused the hazardous housing price bubble to expand in the first place – and ultimately go bust.

Springtime is traditionally the busiest time of year for the real estate industry, because as the weather improves it becomes easier for people to browse neighborhoods, tour properties, and shop for homes and condos. Based on all the positive statistical data this should be a good season for sales, and that will set the stage for improvement throughout the rest of 2009.

For more information about Asheville real estate visit prudentiallifestylerealty.com.

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ChicagoServiceProviders.com Announces "List & Lend a Hand" Program to Benefit the Children’s Memorial Hospital

ChicagoServiceProviders.com, a business listing website for service oriented businesses (i.e. real estate agents, wedding planners, photographers, etc.), has announced a fundraising program to benefit the Children’s Memorial Hospital (CMH).

Chicago, IL (PRWEB) — ChicagoServiceProviders.com, a business listing website for service oriented businesses (i.e. real estate agents, wedding planners, photographers, etc.), has announced a fundraising program to benefit the Children’s Memorial Hospital (CMH). Chicago Service Providers

The company CEO says "As a small business owner and supporter of non-profit organizations for many years, we are very excited to launch this unique program to the ChicagoLand Area. To demonstrate our commitment in helping the Children’s Memorial Hospital, we are donating money even if business owners sign up for our Free Listing option."

Here’s how the program works. ChicagoServiceProviders.com is donating money to the CMH for the first 2,000 business owners in Illinois that join their website. Business owners/service providers can list their business by visiting www.ChicagoServiceProviders.com and then selecting the BASIC or PREMIUM Listing option. Because the site utilizes PHOTOS to identify businesses, the donation program applies to those listings that include an Image. Program will run between May 1, 2009 and July 31, 2009. Please visit www.ChicagoServiceProviders.com and click on the Children’s Memorial Hospital logo for more details.

About ChicagoServiceProviders.com.:
ChicagoServiceProviders.com is affiliated with FindServiceProviders.com. Both sites are under the ownership of Andev Inc.

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The Rainmaker Group Approved as Microsoft Certified Partner

Certification strengthens revenue management leader’s partnership with Microsoft

Atlanta, GA (Vocus) April 30, 2009 — The Rainmaker Group, a world leader in automated profit optimization software and services for the gaming hospitality industry announced today that Microsoft® approved it as a Certified Partner for hotel gaming industry solutions. The Rainmaker Group provides revenue optimization services to companies that include Wynn Las Vegas, MGM MIRAGE, Trump Entertainment Resorts, and Harrah’s Entertainment.

The Rainmaker Group’s solutions for hospitality include the revolution Product Suite that maximizes revenue for casino hotels and property groups. revolution is the only revenue management system that considers Total Customer Value, which includes not only hotel revenues, but also revenue from gaming, food and beverage, spa, and other significant sources of customer value for determining optimal availability conditions.

Tammy Farley, principal of The Rainmaker group, said, “Rainmaker Group is committed to providing state of the art profit optimization solutions that utilize Microsoft’s business intelligence solutions to meet our gaming and hospitality clients’ business needs. Our emphasis on sophisticated Microsoft software that supports reliable open solutions has been a tremendous benefit to our clients.”

The certification reinforces and further strengthens The Rainmaker Group’s relationship with Microsoft which provides access to training, product marketing collateral, and cross-selling. The Rainmaker Group is working towards Gold Certified Partner certification in 2009.

About The Rainmaker Group
The Rainmaker Group is a software and consulting services company that provides profit optimization for more than one-half million units in the gaming hospitality, serviced apartment/multifamily housing and other industries. Rainmaker consults about, implements, and supports the revolution Product Suite, which maximizes total guest profitability for operators of casino hotels and other hospitality enterprises. The company enables clients to identify and maintain availability for their most profitable revenue sources through revenue management implementations. The Rainmaker Group helps casino hotels increase profitability through the accurate, instantaneous ability to determine the minimum acceptable value of each guest. This increases client profitability by securing the most profitable customers and developing more effective business processes. Hospitality clients include Wynn Las Vegas, Boyd Gaming, Harrah’s Entertainment, Omni Hotels, MGM MIRAGE, Trump Entertainment Resorts and other leading hotel companies.

The Rainmaker Group, a Microsoft Certified Partner, also provides the revolution LRO (Lease Rent Options) profit optimization solution that enables serviced apartment/multifamily housing operators to maximize revenue from apartment lease/rentals. revolution LRO lease rate improvement results have been reviewed and validated by independent accounting firms. For more than five years, revolution LRO has delivered optimized leasing rates to the largest operators in the industry including Archstone, Equity Residential, Post Properties, Simpson Housing, Mid-America Apartment Communities and a number of other leading serviced apartments/multifamily housing companies.

Contact:
The Rainmaker Group
Tammy Farley
Principal
5755 North Point Parkway
Suite 77
Alpharetta, GA 30022
Phone: 678-578-5777
Email: sales{at)letitrain(dot)com
http://www.letitrain.com/?Campaign=PRWebMicrosoftApr302009

Media Contact – North America
Julie Keyser-Squires, APR
Softscribe Inc.
180 River Springs Drive NW
Atlanta, GA 30328
Phone: (404)256-5512
Email: Julie(at)softscribeinc(dot)com
http://www.softscribeinc.com
http://www.marketingsnacks.com

Media Contact – Asia Markets
Wye Leng Wong
LEAP Integrated Marketing Solutions
Phone: (65) 9826-4097
Email: wyeleng(at)leapmarketing(dot)com(dot)sg

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Mountain Homes Management, LLC.: New Family Run Management Company Offers Vacation Home Rentals in the Colorado Mountains

Husband and wife team, Marcelo and Heather Games, of Nederland, Colorado, have cast their bid to help stimulate an ailing economy with a new small business enterprise in the unique and growing Peak-to-Peak short-term vacation rental industry. Mountain Homes Management, LLC. combines comprehensive management of vacation homes for Homeowners with a variety of Guest rental services for Colorado getaways, corporate/private retreats, meetings, weddings, reunions and more throughout the Nederland, Eldora, Black Hawk, Central City and overall Peak-to-Peak Region.

Nederland, CO (PRWEB) April 30, 2009 — Husband and wife team, Marcelo and Heather Games, of Nederland, Colorado, have cast their bid to help stimulate an ailing economy with a new small business enterprise in the unique and growing Peak-to-Peak short-term vacation rental industry. Mountain Homes Management, LLC. Nederland Vacations combines comprehensive management of vacation homes for homeowners with a variety of guest rental services for Colorado getaways, corporate/private retreats, meetings, weddings, reunions and more throughout the Nederland, Eldora, Black Hawk, Central City and overall Peak-to-Peak Region.

"It’s the best of both worlds," Marcelo comments. "Owners with second homes in the area are looking for creative ways to keep those homes from falling into foreclosure or to help cover the mortgage in these hard financial times while simultaneously helping to maintain the real estate values in their neighborhoods and contribute to the economic stability of the community. Travelers, wedding parties, retreat groups and businesses looking for beautiful vacation homes in the mountains are looking for unique, high quality mountain experiences at affordable rates. Mountain Homes Management, LLC. Nederland Vacations offers both in a singular, dedicated, dignified and respectful package!"

Nederland, Colorado is located approximately 18 miles west of Boulder, Colorado and approximately 40 miles northwest of Denver (about an hour and fifteen minutes drive from the Denver International Airport). The Peak-to-Peak region covered by Mountain Homes Management, LLC. spans a 30 mile stretch, north to south, along the scenic Peak-to-Peak highway from the gaming towns of Black Hawk/Central City to the charming towns of Nederland and Eldora; all above 8,000′ in altitude and nestled in the foothills of the Continental Divide.

"It’s a mountain playground," says Heather. "From hiking to mountain biking to skiing, snowboarding, fishing, climbing, sight-seeing and just plain peaceful relaxation, this area has it all right at your doorstep!"

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For the original version on PRWeb visit: http://www.prweb.com/releases/2009/04/prweb2367124.htm

CorpCom selects ScreenScape Networks for Venue Networking Partnership in Real Estate

The way of the future for brokerage firms to dynamically showcase properties and services"

(PRWEB) April 30, 2009 — ScreenScape and CorpCom announced today that Re/Max Performance Realty of Mississauga has entered into an agreement with CorpCom to adopt the ScreenScape Venue Networking platform. CorpCom will use the system to communicate information about local products and services to 130+ agents in one of the top Re/Max offices in the country.

"Our selection of ScreenScape as our strategic partner and platform is the culmination of over 12 months of investigation and research into the best possible solution for CorpCom and our clients." said Brian Parker of CorpCom.

The ScreenScape solution offered by CorpCom will allow Re/Max Performance to showcase information regarding their current listings, sold properties, community or industry information, internal news and company events. This ScreenScape solution will be used by CorpCom to channel relevant advertising information from numerous merchants, retailers and service based organizations.

John Bradley, Broker of Record at Re/Max Performance said, "We love the CorpCom / ScreenScape solution. It provides us with a new medium to showcase all of our people, products and services and offers a valuable source of information to the agents in the office."

"We are moving away from using simple static photos to offering a combination of rich digital photography and videos to showcase properties and applicable industry services." continued Bradley. "We see this approach as the way of the future for any brokerage firm that wants to dynamically showcase properties and services."

Brian Parker, President of CorpCom, indicated that: "This partnership allows us to supplement our core business with a sophisticated Internet based solution, delivering rich content to display screens in brokers offices across North America. Our brokerage customers will use this service to showcase their specific products and services, and we have a platform to deliver relevant and dynamic advertising content to the agents in the office and the customers they serve."

"We are thrilled to have CorpCom and Re/Max Performance as partners under our new Affiliate Program" said Kevin Dwyer, President and CEO of ScreenScape Networks. "This agreement demonstrates how the openness of Venue Networking can enable mutually beneficial collaborative partnerships."

About ComCorp

Corporate Communications is a Toronto-based firm with eight years of experience in the printing industry. CorpCom is a specialized "niche" marketing company that produces custom high-quality laminated presentation folders for brokers across North America. For more information, visit ScreenScape is an Internet Service and Community that offers a smarter, simpler and more cost-effective way to use dynamic screens in your venue. Members of ScreenScape form a community of venues interconnecting to establish a shared resource and a marketplace for exchanging content.

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For the original version on PRWeb visit: http://www.prweb.com/releases/screenscape/corpcom/prweb2363294.htm

ApartmentFinder.com Announces its New 4.0 Web site, with One-Click Access to Thousands of Featured Listings

ApartmentFinder.com announces a new 4.0 Web site, which makes searching for apartments easier and provides more informative, with more images, new search tools, and showcases one click access to thousands of featured properties.

Lawrenceville, GA (PRWEB) April 30, 2009 — Bolstering its leadership in delivering apartment listings and apartment information to home shoppers, ApartmentFinder.com launches its new 4.0 Web site, featuring more interactive content than ever before.

The one-click access to information about apartments has been showcased even more prominently. Initially, while searching for apartments, users see one main large photo of the property followed by three additional smaller images arrive to provide a comprehensive visual understanding of content about featured property listings. Enter the zip code or city/state and information rich content displays, with featured apartments getting additional exposure.

"The new ApartmentFinder.com 4.0 Web site is rich with information and developed to enhance the user’s experience as well as deliver better leads to our advertisers," said Marcia Bollinger, president of Apartment Finder. "If you are searching for a new apartment, there’s no better information resource on the Web."

Quick searches are designated by radius, price range and bedroom requirements, or through searches for specific colleges, military bases or particular addresses. A "Virtual Earth map lets users see exactly where a property is located, and also strong keyword search tools that better justify specific information that is relevant to a search query.

An easy-to-use expanded feature, called faceted browsing, lets consumers choose specific properties to visit by narrowing relevant information about their specific needs. The search facets are positioned in the left side column of the site, and allow users to search by amenities, price, affordable housing options and schools.

There is also ample space for property managers to display specials and promotions being offered on specific listings. Now, featured apartments are able to display a total of up to five video links, further enhancing the user’s experience.

"A site with as much information on it as ApartmentFinder.com is a tough act to follow. With all these added features no site provides people searching for property with a more in depth experience," said Mike Kim, a rental Web site owner.

When it comes to searching online for an apartment in any market — from Dallas and Boston to San Francisco and Orlando — ApartmentFinder.com makes it easy and efficient by having all the tools and detailed information at a home shopper’s fingertips.

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For the original version on PRWeb visit: http://www.prweb.com/releases/apartmentfinder/rentalsearch/prweb2281094.htm

Award-winning FORMA Design Makes Extensive Use of KMP Furnishings in Renovated Zen-inspired South Beach Retreat; Furniture Store in Miami, Florida

Demonstrating that anyone can create a beautiful home on a budget, KMP Furniture’s line of modern furnishings were recently used to add personality and sophistication to a home with stunning views of the Miami skyline.
Furniture Store in Miami, Florida

Miami, Florida (PRWEB) April 30, 2009 — Award-winning FORMA Design makes extensive use of KMP furnishings in renovated Zen-inspired South Beach retreat.

Demonstrating that anyone can create a beautiful home on a budget, KMP Furniture’s line of modern furnishings were recently used to add personality and sophistication to a home with stunning views of the Miami skyline.

Award-winning FORMA Design directed the renovation, which featured KMP Furniture’s products throughout the home. The white-on-white interior incorporated a wide range of modern furniture designs from KMP that perfectly complemented the floor plan and other touches FORMA Design came up with on a tight budget.

Besides the white-on-white KMP Furniture and accessories, FORMA used an innovative lighting scheme of cove lighting, floor and table lamps and halogens on dimmers to change the lighting of the rooms to match the mood of the home’s residents.

The home itself offers spectacular views of the Miami skyline through the floor-to-ceiling windows and sliders. The views from the South Beach location allowed the designers to maximize the feeling of spaciousness by emphasizing the colorful hues of the waterways and cityscape while providing the owners with a comfortable, inviting home that didn’t detract from the sweeping vistas. The result is a true Zen-like experience where the indoors and outdoors blend in symbiotic peace and tranquility.

Before and after images can be seen at http://www.youtube.com/watch?v=MVtqShqKl2Y.

About KMP Furniture
Located in Miami, Florida, KMP Furniture offers its customers a complete line of indoor and outdoor modern furniture for the home and office. The company’s line of classic and "new classic" designs can be viewed at the company’s website at http://www.kmpfurniture.com or at their showroom in Miami. KMP Furniture focuses on products that are innovative, stylish, finely crafted and which follow the modern mantra, "form follows function."

About FORMA Design
Founded in 1994, FORMA design is headquartered in downtown Washington D.C. The award-winning company has built its reputation by taking on challenging design projects ranging from architecture and interior design for residential and commercial spaces to graphics for corporations and individuals. For more information on FORMA Design visit http://www.formaonline.com.

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For the original version on PRWeb visit: http://www.prweb.com/releases/2009/04/prweb2368284.htm

In Response to Economic Downturn Most Consumers Maintain Essential Insurance Coverages

A new study by the Insurance Research Council (IRC) finds that many Americans have taken steps to reduce personal insurance costs in response to the economic downturn, but that maintaining essential auto and homeowners coverage remains a priority for the vast majority of consumers.

Malvern, Pa. (Vocus) April 30, 2009 — A new study by the Insurance Research Council (IRC) finds that many Americans have taken steps to reduce personal insurance costs in response to the economic downturn, but that maintaining essential auto and homeowners coverage remains a priority for the vast majority of consumers. Twenty-eight percent of those with auto insurance coverage surveyed for the study reported shopping for lower rates when they normally would not have done so. Among those with auto or homeowners insurance, 15 percent said they had increased their insurance deductibles or reduced the amount of coverage in order to reduce premium costs.

Most Americans, however, have maintained essential homeowners and auto insurance coverage despite the challenges posed by the economic downturn. Nine percent of those with at least one household vehicle reported canceling or not renewing coverage for a household vehicle in response to the economic downturn. However, almost one-third (31 percent) of those canceling auto insurance coverage also reported selling a vehicle as a way to save money, so many of those vehicles for which insurance coverage was canceled were also likely sold. Five percent of homeowners and 14 percent of renters reported canceling homeowners or renters insurance coverage.

The study also reports on the frequency with which consumers have taken other steps in response to the downturn. For example, 65 percent reported greatly reducing their expenditures on entertainment. Thirty-seven percent reported postponing the purchase of a major household appliance.

"These findings confirm that most Americans recognize the importance of maintaining essential insurance coverage on their homes and cars," said Elizabeth A. Sprinkel, senior vice president of the IRC. "But they also show that Americans are willing to shop and reevaluate their insurance needs in order to reduce insurance costs."

The results of the IRC’s report, Public Attitude Monitor 2009, Consumer Response to the Economic Downturn, are based on 1,000 telephone interviews conducted with adults age 18 and older in December 2008 by GfK Custom Research North America.

For more information on the study’s methodology and findings, contact David Corum at (610) 644-2212, ext. 7506, or by e-mail at irc(at)cpcuiia.org . Or visit IRC’s Web site at ircweb.org. Copies of the study are available for $65 each in the U.S. ($80 elsewhere) postpaid from the Insurance Research Council, 718 Providence Rd., Malvern, PA 19355-3402.

NOTE TO EDITORS: The American Institute for Chartered Property Casualty Underwriters and the Insurance Institute of America (the Institutes) are not-for-profit organizations dedicated to providing educational programs, professional certification, and research for the property-casualty insurance business. The Insurance Research Council is a division of the American Institute for Chartered Property Casualty Underwriters. Within the Institutes, the Council’s purpose is to provide timely and reliable research to all parties involved in public policy issues affecting risk and insurance, but the Council does not lobby or advocate legislative positions. The Council is supported by leading property-casualty insurance organizations.

Contact: David Corum, CPCU
Phone: (610) 644-2212, ext. 7506
Email: corum(at)cpcuiia.org

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For the original version on PRWeb visit: http://www.prweb.com/releases/2009/04/prweb2368014.htm