ARIZONAAPARTMENT

OUTLOOK CONFERENCE

PERSPECTIVESAND

PROJECTIONS2008

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SEPTEMBER 10, 20087:45 a.m. - 5:30 p.m.

PHOENIX CONVENTION CENTERSOUTH BALLROOM

7:45 - 8:30 a.m. REGISTRATION AND CONTINENTAL BREAKFAST

8:30 - 9 a.m. THE 2008 PRESIDENTIAL ELECTIONSPEAKER: MARY ANNE CARTER, MAC Research, Inc.We've invited a national expert on opposition research to tell us just what the two candidates are sayingabout business, economics, real estate and the housing market—both owner-occupied and rental. MaryAnne Carter will examine both candidates’ voting records on issues of importance to the Arizona multi-housing industry. You won't want to miss this informative session on what the candidates are saying andhow it is being received by the voters.

9 - 9:45 a.m. ARIZONA ECONOMIC OUTLOOKSPEAKER: JIM ROUNDS, Elliott D. Pollack & CompanyWe all know how the economic health of an area can affect real estate investments. Elliott Pollack &Company has been researching historical economic trends in the metropolitan Phoenix area for over 20years, and their knowledge of the market can help you get a better grasp of current and future trends. JimRounds will share his company's analysis of what lies ahead for the Arizona economy and how it mightaffect your investments.

9:45 - 10 a.m. BREAK IN THE SPONSOR AREA

10 - 10:30 a.m. BE SURE YOUR NEW EMPLOYEE IS LEGAL: WHAT YOU NEED TO DO NOW SPEAKER: DENISE M. BLOMMEL, Attorney at LawImmigration is a “hot button” topic in the United States, especially in Arizona. How you hire and how youfire has taken a back seat to “who you hire” as the most important consideration in building your team.Labor and employment attorney Denise Blommel will give up-to-the-minute information on compliancewith Arizona and federal laws about new hires…and what happens if you fail to comply.

10:30 - 11 a.m. RISK REDUCTION THROUGH MARKET TRANSPARENCY SPEAKER: PETE TEKAMPE, Marcus & MillichapApartment investors cannot afford to have a nebulous understanding of Phoenix area apartment marketconditions. This presentation will be a current, specific and credibility-based assessment of apartment mar-ket conditions and of likely future apartment market performance. Also provided will be the latestAMA/Pete TeKampe Phoenix Projected Apartment Income (PPAI™) Index, which has correctly and accuratelyforecasted, at least 90 days in advance, the favorable and unfavorable local apartment market conditionsexperienced over the past four years in the Phoenix area.

11 - 11:30 a.m. THE PHOENIX SINGLE-FAMILY REAL ESTATE MARKETSPEAKER: PAUL JOHNSON, Old World CommunitiesThe sluggish single-home market in the Valley continues to affect the rental community. This sessionwill explore the current state of the market, where the strengths are, and where the trend is going.Former Phoenix Mayor Paul Johnson takes a macro-view of the industry from the perspective of aninfill-niche home builder.

11:30 a.m. - 12:45 p.m. NETWORKING LUNCH IN TUCSON CONFERENCE ROOM

WHAT’S NEXT? Nobody knows for sure, but what is certain is that we need thefacts to get and stay ready in this changing marketplace. Please join us and our diverse panelof experts from Arizona and across the country on September 10 for a full-day of explorationof the Arizona economy: what has happened, what is happening, and what is next!

C O N F E R E N C E A G E N D A

12:45 - 1:30 p.m. ARIZONA LAND SALES AND AUCTIONSSPEAKER: NATE NATHAN, Nathan & AssociatesThe state of Arizona controls the vast majority of land available for large master-planned and multi-familycommunities. A total of 9,228,787 acres of State Trust Land remains. That’s a lot of land, but how much ofit is geographically or economically viable for housing development, especially now that the price hastopped $1 million per acre?

1:30 - 2 pm. WE HAVE TO GROW OUR WAY OUT OF THISSPEAKER: BARRY BROOME, Greater Phoenix Economic CouncilThe Greater Phoenix Economic Council (GPEC) spearheads the economic development efforts of the Phoenixarea. Almost all cities and towns within Maricopa County, as well as the county itself, fund GPEC to attractquality businesses to the Valley from around the world and advocate and champion foundational efforts toimprove the region’s competitiveness. How does Maricopa County compare with other metropolitan areasaround the country? Who are our competitors? What sets us apart? Where will future investment dollarscome from?

2 - 2:30 p.m. AN EXPLORATION OF THE APARTMENT INDUSTRY IN CITIES OUTSIDEOF PHOENIXSPEAKERS: MELANIE MORRISON, MEB Management Services; Nancy Nicolosi, Nicolosi & Fitch; and AmySmith, RPI ServicesIn the movie “Pleasantville,” Jennifer, played by actress Reese Witherspoon, had the audacity to ask herteacher, “What’s outside of Pleasantville?” Well, the AMA is taking a queue from the movies as we ask ourpanel the question, “What’s outside of Phoenix?” Learn what’s next in Tucson and Flagstaff for occupancyrates, revenue and expense trends, acquisition cap rates and beyond.

2:30 - 3 p.m. LIGHT RAILSPEAKERS: JOHN CHAN, City of Phoenix; Maria Hyatt, City of Phoenix; and Richard Simonetta, METROGet updated on the status of light rail in the Valley in this segment that focuses on project funding, real estate acquisition, Transit Oriented Development and development opportunities along thelight rail alignment. METRO CEO Rick Simonetta will provide a project update, including light rail extensions.

3 - 3:30 p.m. GOING ‘GREEN’ WITHOUT GOING BROKE SPEAKERS: SCOTT STAMILIO, Valet Waste; and Dan Vermeer, Waster Management“Green” is rapidly becoming a necessity, as more and more organizations and companies begin offeringgreen services and products in every facet of our society, including the real estate market. And “goinggreen” isn’t just about major property reconstruction or renovation. Many businesses now provide greenservices and products for the multi-housing industry. Learn how properties can market green options with-out “breaking the bank” or violating city ordinances.

3:30 - 5:30 p.m. NETWORKING RECEPTION

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5110 N. 44th St.Suite L160Phoenix, AZ 85018

REGISTRATION

REGISTRATION DEADLINE: Sept. 3, 2008. Reservation payments are nonrefundable 10 days before event.

MAIL OR DELIVER FORM WITH YOUR CHECK TO: Arizona Multihousing Association,

5110 N. 44th St., #160L, Phoenix,AZ 85018. Fax number: 602-296-6178

REGISTER ONLINE: www.azama.org

❐ MEMBER: $139 ❐ NONMEMBER: $159 ❐ RESERVED TABLE OF SEVEN: $875

SPECIAL SERVICESPlease check here if you require special accommodations to fully participate.Attach a written description of your needs.

CONFERENCE HELD AT PHOENIX CONVENTION CENTER, 111 N. 3RD. ST., PHOENIX

PREFERRED SEATING FOR THOSE WHO REGISTER EARLY. SEND IN YOUR REGISTRATION TODAY!Registration includes continental breakfast, lunch, closing reception and CD containing handouts and video recording of entire proceedings.

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REGISTRATION: 7:45 - 8:30 A.M. CONFERENCE: 8:30 A.M. - 5:30 P.M.