Arcadia Run

Benefits of Renting a Luxury Apartment

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Sure, there’s the option to rent a regular apartment, but there’s something special about living in a luxury apartment.  Better yet, a luxury apartment in Arcadia Run. You wouldn’t believe the added benefits residents get in our apartments, especially when compared to regular complexes.  Here are a few perks of living in Arcadia Run:

Amenities:  Many apartment complexes don’t offer amenities. If they do, they’re often outdated and undesirable. In Arcadia Run, our residents are given access to all the best conveniences: A planned pool and clubhouse, fitness center, playground and jogging trail.  These could very well be the best amenities offered anywhere in Manassas!

Practicality:  Having a combined bed/bath/dining room isn’t the most practical way to live. Some apartment buildings skimp on planning, layout and space in order to save money, but not so in Arcadia. We designed rooms with a distinct separation between private and common areas. Simply put, our apartments are easy to live in and just make sense.

Light: It may seem odd to list light as a luxury item, but many apartments don’t offer adequate windows for natural light.  In Arcadia Run, the extended windows allow for plenty of sunlight, keeping your apartment bright and welcoming.

Ceiling Height: Just because it’s an apartment doesn’t mean it can’t have high ceilings! This possibility is often overlooked by other apartment developments, making rooms feel small.  Nine-foot ceilings come standard in Arcadia Run, making it that much more luxurious.

Features: Moving into an new apartment that has designer cabinets, full-size washer and dryer, granite countertops, luxury vinyl flooring and other over-the-top features is almost unheard of.  And with all of these features in pristine condition, you have one less thing to worry about when moving into your new home!

Location:  Of course you’ve heard this before: location is everything.  It is important, but it shouldn’t come at the expense of another desirable feature.  In Arcadia Run, residents can have it all!  Our location in Manassas has tons of things to do with endless dining, recreation, shopping, and entertainment options – including Jiffy Lube Live! Pair our location with our luxury apartments and you’ve got the perfect place to live.

See?  Arcadia Run is synonymous with luxury! And this isn’t just our opinion, it was even written about byForbes.com. For the best renting experience possible, Arcadia Run is the only choice.

The Best Time of the Year to Rent

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It’s easy to overlook the importance of the seasons when you’re searching for a new apartment.  Could a couple of months really make that much of a difference?  While it’s always a great time to start renting in Arcadia Run, here are a few of the pros and cons that come with finding an apartment throughout the different seasons:

Fall

Our current season might very well be the best season to move into a new apartment – and we’re not just saying that! Many landlords experience a lull in activity during the fall, which means that you (the renter) will have a larger selection when looking for a new apartment.  Arcadia Run offers many different types of floor plans, so no matter what you’re looking for, you’ll be able to find it here!

Winter

Believe it or not, winter has its advantages for renters.  While it may be a little chilly trying to move your belongings to a new room, moving in the winter means there will be less competition. Because of the weather, people are not going to be moving as much, nor will they be looking for new apartments to rent.   You have a higher chance of finding the perfect room you love, without being rushed.

Spring

So you’ve survived the colder months! The spring can be a very exciting time to look for a new place to live.  Temperatures are warming up and many tenants are leaving their apartments to move back home.  This is only the beginning of the apartment housing frenzy, renters should move quickly to find the perfect place.

Summer

The months between May and September mark some of the busiest in the apartment industry.  Students are leaving their school digs and the accommodating weather makes moving a breeze. Depending on your region, you could have a wider selection of apartments to chose from as people move out. At the same time, there might be a greater demand for apartments because of the recent grads moving into the cities.  With so many local schools in the Manassas area, we plan to have another busy summer in 2014!

Any time of the year is the best time to move into an Arcadia Run apartment!  Our apartments are some of the best in the market for their quality, size, and amenities.  In the next year, our community will continue to grow with a new swimming pool, clubhouse, and fitness center.  it won’t take long for these luxury apartments to fill up!

 

Apartment Market Gains Momentum in Q2

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Good news released late last month by the National Association of Home Builders (NAHB) improves the outlook on multifamily housing.  The NAHB published their Multifamily Production Index (MPI) for the second quarter of 2013.  The index shows a nine-point increase to 61, which is the highest reading since the inception of the index in 2003.

Multifamily housing refers to apartments and condominiums. The index measures builder and developer responses about current market conditions – rating on a scale from 0 to 100.  Any reading above 50 shows that more professionals report conditions are improving rather than getting worse.  The index is measured using three key elements: construction of low-rent units, “for-sale” units, and market-rate rental units.

In the second quarter, all components saw a welcomed increase. Market-rate rental properties rose six points to 67.  This is the 11th straight quarter where this number was above 50.  Low-rent units also increased five points to 60 and for-sale units saw an incredible 16-point jump.

W. Dean Henry of Legacy Partners Residential and chairman of NAHB’s Multifamily Leadership Board says, “Multifamily developer confidence is currently at an all-time high … we expect to see that continue for the foreseeable future.  Much of the consumer demand that we are now seeing is coming from a large generation of young people who are able to find jobs and establish their own households as the economy continues to improve.”

With every aspect of the MPI improving, we’ll see a much-needed boost in the apartment industry. The Chief Economist of NAHB, David Crowe, notes that the expanding production is necessary to keep up with the demand and to catch up with new unit production that was lost during the housing downturn. We’re definitely moving in the right direction!

Arcadia Run is a prime example of positive apartment production.  Our apartments are the nicest in the Manassas area and offer the perfect living alternative for those who don’t want to buy a house. Not to mention, our spaces provide the best features available while still being affordable.  With more people choosing to rent, the demand for Arcadia Run apartments will grow, and their availability will soon be limited – so don’t hesitate!  As the economy and apartment industry improve, there is no better time to rent with Arcadia Run.

Source: The National Association of Home Builders

14.5% of US Homeowners Underwater

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 Just one more reason why you’ll be happy you’re renting: Despite gains in the real estate market and increases in home prices, millions of homeowners still owe more on their home than their home is worth. 
 
When the housing bubble burst a few years ago, home values dropped dramatically.  Homeowners lost upwards to 60 percent of their home’s value in just a matter of years.  Salaries were cut and employment dropped, but many still had to pay their mortgages on a home that was no longer worth the price.
 
As a whole, American homeowners are missing $428 billion of equity that has yet to be recovered. According to CoreLogic, a residential property analytics company, this puts 7.1 million people, or nearly 15 percent of all homeowners, underwater on their mortgages. Unfortunately, many still have a long and taxing road to recovery, if they recover at all.
 
The Chief Economist for CoreLogic says, “In just the first half of 2013, almost three and a half million homeowners have returned to positive equity, but the pace of improvement will likely slow as price appreciation moderates in the second half.”  While many remain optimistic from the major improvements in the housing market, homeownership may no longer be an option for millions of Americans.
 
This daunting reality has encouraged more and more people to rent instead of buy.  And with the headache that so many homeowners will continue to face in the future, there’s no better way to enjoy your home than to rent.  Renters can live in nicer apartments for less – without the fear of losing their house.
 
Also, for those who aren’t ready to take on the extra costs that come with owning a home – like maintenance, repairs, homeowners insurance, and much more – renting is the perfect option for your active lifestyle.
 
Arcadia Run offers the best of apartment living at a huge pricing advantage.  Renters live in homes with the best, most up-to-date features, and only pay a fraction of what homeowners are currently paying.  Within the next year, Arcadia Run residents will also enjoy a jogging trail, a playground, a fitness center, and a resort-style swimming pool.
 
All of this without the stresses of homeownership, what could be better?

Source: Money Watch – CBS News

Renters Can Afford More for Less

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Earlier this summer, CoreLogic released their Rental Applicant Risk report for the first quarter of 2013.  The report was encouraging for current and prospective renters all over the country.

The report details that during the first quarter of this year, the Renter Applicant Risk (RAR) index was up two points to 104, which is considered healthy.  This new number is also up from the 99 that was reported at this time in 2011.  Any number above 100 means that applicants have better credit and are most likely able to meet their lease requirements.

“As the economy continues to grow slowly, conditions appear cautiously optimistic for continued improvement in renter applicant qualifications in the year ahead”, says CoreLogic Safe Rent senior director Jay Harris. “During this relatively upbeat period, renter trends are pointing toward increased confidence among property owners and applicants.”

Additionally, national apartment vacancy rates are falling.  The U.S. Department of Commerce reports that rental vacancy rate declined more than one percent in the second quarter. And according to Wells Fargo, “Solid fundamentals and employment growth are expected to continue to support the rental market.” This just further proves that the rental market is making a major comeback.

Rental properties are in high demand, encouraging renters to move quickly when choosing a new apartment. Renters, especially in today’s market, are able to get better, bigger, and nicer apartments by choosing to rent instead of buy.  Arcadia Run is a perfect example why.  We provide the absolute best apartment buildings in Manassas. We take care of maintenance costs and our renters have access to a gym, walking and jogging trails, a soon-to-be pool, and much, much more.  Those who buy a home might never have access to these types of amenities without paying a huge price.

Upscale apartments offered at reasonable rent have proven to be extremely popular.  Our apartments are newly built with the best amenities and features, and nestled in an ideal location. It couldn’t get any better than this!  The rental market won’t be slowing down any time soon with more renters than ever choosing this active lifestyle.  Renters get the best of all worlds when they choose Arcadia Run.

Sources:

 Aol Real Estate

The Wall Street Journal Market Watch

Renting – The New American Dream?

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Years ago, the American Dream included owning a house in the suburbs, among other old-school ideals. However through unstable markets and changing mindsets, the dream has transformed into something new. The new American Dream includes renting, urban living, and revolves around consumer convenience.

Even though many people can afford to buy a house, they are opting to rent their homes instead. Residents can avoid costs for maintenance, homeowner’s taxes, and other housing burdens by renting. Many apartment complexes, Arcadia Run included, take care of maintenance costs for you, making your living experience that much better.

This allows tenants to spend their extra money elsewhere.  They can save up for a new car or put more money away for savings.  Rent is also typically cheaper than mortgage payments, allowing residents to save even more money. Many homeowners will put any extra cash they have straight back into their home.  But with how the housing market has been in the past, if they lose the house, they’ll also lose all the money and hard work they invested into it.

With renting comes the security and reassurance that you won’t be losing your house or be drowning in mortgage payments.  More and more people are seeing this lifestyle as more desirable (who wouldn’t?) than going through the process of owning a home.  Not to mention, more people want to live in environments where they are close to everything they need.  When buried in the suburbs, homeowners have to drive to virtually everywhere they go.  Renting in Arcadia Run allows tenants to walk to many places like the gym and other apartment amenities.  It’s also close to downtown historic Manassas, a huge venue for fun and activities.

Renting allows residents to live the American Dream to the fullest, without worrying about mortgages, interest rates, or even foreclosures.  And, it helps them to pocket the extra money they save, allowing them to splurge on themselves and their families more often.  The American Dream isn’t gone; it has only changed to become more relevant and universally accepted today. Arcadia Run apartments make it easy to choose this lifestyle over any other.  Our residents are active, living life to the fullest, and achieving the American Dream every day.

 

The Renting Industry’s Impact on the Economy

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Earlier this year, the National Multi Housing Council and the National Apartment Association published an infographic brochure that outlined the incredible impact apartments have on the economy. The numbers were shocking to many, but here at Arcadia Run, we weren’t too surprised. Apartment buildings aren’t always considered to be revenue-generating buildings, but this is just a common misconception. In fact, apartment buildings have a hugely positive impact on the health of the economy.

Apartment living has become more popular in recent years, which means more buildings are being constructed to keep up with the demands. Building just one apartment complex is a huge production. Contractors, builders, designers, and suppliers all need to be hired in order to bring a plan to life. In the past five years, the apartment industry created an average of 260,000 jobs per year and supported 662,000 jobs. Not many industries can support or create nearly this many jobs.

The construction of apartment buildings aids the economy in monetary terms as well. The apartment industry is a $2 trillion industry. Buying and planning an apartment is costly, and much of the money spent encourages economic recovery even further. After the initial building of the apartments, there will be upkeep and maintenance costs. This supports jobs and brings in revenue and taxes as well.

An increase in rental properties has transformed communities and neighborhoods. They add diversity within the residents that might not be possible when buying homes. Rental properties also add incredible value to an area and give the local economy a deserving boost. Building just 100 new apartments in your neighborhood will create 32 local jobs, $2.3 million in local revenue annually, and $400,000 in taxes and other spending. Renters are also more inclined to spend their money locally, within walking distance of their apartment, which can support local shops and stores.

So, what does this mean for you, the apartment tenant? Well it means that just by renting your apartment in Arcadia Run you will help to improve the economy. In times like today, economic recovery is always a welcomed effort. You can enjoy the diversity of your apartment community and adopt a new appreciation for apartment living.

As Home Prices Rise, Renters Benefit

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The S&P/Case-Shiller national home index rose 12.2% in May compared to a year ago. This is the biggest annual increase in prices that we’ve seen since March 2006, right before the peak of the housing bubble. While this might be good news for current homeowners, it doesn’t help those who are looking for a new home. When national home prices and mortgage rates rise, it pushes home affordability beyond the reach of many.

Prices have been steadily increasing every month since June 2012, and with plenty of room for growth, they’re expected to keep rising. Some economists believe that this is the sign of a strengthening economy. Others think that this might actually pose a threat to the housing market. They fear that rising prices might lead us to another housing bubble, ending all of our progress.

Either way, renters will be able to benefit from an improving economy without feeling the sting of rising prices and rates. And, if there is another housing bubble in our outlook, renters will be saved from the woes of owning a home. This alone is a great reason why it makes sense to rent instead of buy in today’s market. Renters can pay their monthly rent at a predictable rate, and continue to save money for their future.

Those who choose to rent are also spared from the awful realities of foreclosures and high taxes on homeowners. With the market making changes everyday, it pays to have the added security by renting.

One factor that is contributing to the rise in home prices is the limited inventory of homes on the market. This drives prices up and makes finding a new home very competitive. Limited inventory is not a problem for renters right now. There is such a huge supply of apartments and rental properties that tenants have the luxury of choosing the perfect place. This also lets renters lease in an area where owning a home might be impractical, like a city.

Arcadia Run is the best choice for renters near the Washington D.C. area. Located in the beautifully historic town of Manassas, our apartments are all completely new with nine-foot ceilings, granite countertops, and balconies – and reasonably priced too. Find your next apartment in Arcadia Run!

Source:

http://money.cnn.com/2013/07/30/news/economy/home-prices/index.html?iid=H_E_News

The Benefits of Renting

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Whether to rent or buy a home has been a highly debated topic in 2013. While many economists are claiming that this is the perfect time to buy a house, this might not be the smartest option for some. Aside from being considerably cheaper than buying, here are a few advantages to renting your apartment, and why Arcadia Run could be perfect for you:
Nicer Features

Arcadia Run apartment homes are some of the nicest in the area. Each apartment features a spacious finished kitchen with granite countertops and brand new cabinets, extended windows, and incredible nine-foot ceilings. Select apartments even have walk-in closets.

Better Amenities

Having access to nice amenities is a wonderful perk to living in an apartment community. Arcadia Run will soon have a fitness center, a playground, ball courts, a jogging trail, and a resort-style swimming pool – all for the convenience of their residents.

Ideal Location

The Washington Metro area is one of the best places to live. You get all of the great aspects D.C. has to offer, without actually living in D.C. In Manassas, not only is there easy access to the Capital, but there are also plenty of things to do in town. Arcadia Run residents have multiple dining, recreation, shopping, and entertainment options right in their own back yard.

No Repair Bills/Maintenance Costs

Maintaining an entire house can be costly. Homes are only getting bigger and repairs can be a huge unexpected expense. When renting, all repair bills and maintenance costs are the responsibility of the landlord, allowing you to spend your extra money elsewhere.

Lower Utility Costs

Arcadia Run apartments are roomy and spacious, but they’ll still have considerably lower utility costs compared to a two-story house. This is another excessive expense that residents can avoid by renting.

Flexibility

Renting an apartment gives you flexibility that you won’t find when buying a house. Whether you decide to expand your family or are looking to downsize, renting allows you to change your living accommodations accordingly. Arcadia Run offers many different style apartments, certain to have something that’s perfect for everyone.

Renting a luxury Arcadia Run apartment is the absolute best option for renters in the D.C. Metro area. With an array of different floor plans, everyone is bound to find something that fits. You won’t find these convenient and modern apartment homes matched by anyone else. For more information on the Arcadia Run apartment homes, visit www.arcadiarun.com.

Resident Life at Arcadia Run in Manassas, VA

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At Arcadia Run, it’s all about modern living and getting use to having more. We express that lifestyle through the features and amenities that let our residents enjoy the finer things in life.

Within your apartment, you will enjoy the life of a gourmet chef right in your kitchen with the granite countertops and designer cabinets. You now can put on a lavish dinner parties for all your friends and impress any guest that comes to your home.

Arcadia Run Kitchen

However, it doesn’t stop there. Outside your apartment home, there are activities galore to keep up with your active lifestyles.

For the athletes, there are jogging trails that offer ways to stay fit and keep on top of your workouts. You can also bring a group of friends to the basketball courts and play a pick-up game to stay happy and healthy!

The fun doesn’t stop there though, because in 2014, a new resort-style swimming pool will be added to the apartments and our residents will enjoy swimming and tanning at the pool as if they were on vacation! Watch out for the pool parties coming to Manassas!

With such a wealth of activities at Arcadia Run, it makes you wonder why you would live anywhere else!