Help With Visual Studio 2012 error: Unable to access the IIS metabase.

Could someone please help:  I had Visual studio 2012 crash on my pc while running a asp.net web application project.  After I rebooted my computer and restarted Visual Studio 2012, I started getting this error when I try to open existing projects.  

"error  : Creation of the virtual directory http://localhost:61471/ failed with the error: Unable to access the IIS metabase. You do not have sufficient privilege to access IIS web sites on your machine."

I get this error when I try to create a new web application project.  "Web application projects are currently configured to use IIS Express.  To switch back to using the Visual Studio Development server, change the development server option under the Projects and Solutions/Web Projects category of the Tools/Options menu.  Configuring IIS Express failed with the following error:  Unable to access the IIS metabase.  You do not have sufficient privilage to access IIS web Sites on your machine."

Note I have tried doing this "aspnet_regiis.exe -ga MyUserName" using the Visual Studio 2012 command Prompt as Admin.  Didn't help.  I have tried repairing the .Net Framework 4.5, it completed succesfully but didn't fix the issue. 

Would anyone have any idea what is wrong, and how to fix this.

Thanks

Dave.