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Sunrise Speak - Arizona Edition

 September 2011

Squeezing More Business from Your Business
Squeezing More Business from Your Business Tight times demand maximizing every sales lead, and call centers seem to be the solution. This little nugget comes from a report in Apartment Finance Today, which profiled LevelOne's successes helping multifamily owners capture every call, email, and sales lead, 24/7. By speeding up responses to inquiries of properties with just a few hundred units, they seem to level the playing field against larger competitors. Significant returns on the investment also appear to be the norm.
Freddie Steps Up Multifamily Loans
Freddie Steps Up Multifamily Loans The Wall Street Journal reports Freddie Mac's plans to accelerate its program to purchase loans backed by apartment buildings, increasing the availability of financing for landlords and helping to bolster the multifamily real-estate market. The bulk of the loans will be packaged into commercial mortgage-backed securities and sold to investors, which have shown strong demand for CMBS that are issued by government-backed entities such as Freddie Mac and Fannie Mae. This comes at the same time as investors have been stepping away from CMBS packaged and sold by private investment banks.

"It is better to be looked over than overlooked."
- Mae West
Apartment Vacancy Rate Back to
Single Digits
Apartment Vacancy Rate Back To Single Digits Phoenix's apartment market is turning around rapidly. The vacancy rate, peaking at 12.3% at the end of 2009, fell to about 7% by the end of first quarter 2011. This represented five straight quarters of decline and a net increase in occupancy on the order of nearly 11,100 units. Asking and effective averages for first quarter 2011 were up 0.6% and 0.7%, respectively, since the end of 2010. During the past quarter, vacancy rates have dropped in every Phoenix sub-market, and rents have risen in all but three.

Meanwhile, in Tucson...
Apartment Recycling is Now the Law In June they were saying Tucson was still a disaster, with a 9% loss of jobs in that market since 2007. But the latest reports show things have stabilized somewhat, with overall apartment vacancy down to 7.4% and a .3% growth of rents. A 3% growth in rents is predicted here over the next four years.
Vol. 16, Issue 9
In This Issue
Squeezing More Business from Your Business
Freddie Steps Up Multifamily Loans
Apartment Vacancy Rate Back to Single Digits
Meanwhile, in Tucson...
Who Is Sunrise Management?
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Who Is Sunrise Management?

Currently managing almost 10,000 units in California and Arizona, Sunrise Management is committed to excellence in all that we do, each and every day.

Since 1978, our day-to-day goals have remained the same: To Consistently Provide Spectacular Customer Service, to be on the cutting edge of technology and innovative marketing, and to provide the vision needed to unerringly achieve our clients' real estate investment goals.

Sunrise is an IREM Accredited Management Organization®. Our team includes a highly-trained staff of CERTIFIED PROPERTY MANAGERS® (CPM®) and ACCREDITED RESIDENTIAL MANAGERS® (ARM®), the industry's most respected credential for residential site managers.

For information on how to make Sunrise Management the key to your success, contact Principal Joe Greenblatt at 858-751-6321.profile