Renting May Boost Employment

Posted on November 19, 2013 by gottarunrunrun

In our current economy, every small step taken to support and strengthen recovery efforts is valuable. Along with the housing market, the apartment industry has had, and continues to have, a huge influence on local and national economies. This industry adds countless jobs and can bring in incredible revenue for the local areas where an apartment community is placed.

And, as we mentioned in our last blog post, by renting, young professionals can maintain their mobility. In the long run, this can help more renters find employment and to easily grow within their career. As you may have guessed, higher employment is always good news for the economy!

In fact, even CNN Money has something to say about it; “encouraging young people to buy a home may be storing up trouble for the future in the shape of higher unemployment.” The possible weakening in employment would be the result of lower levels of mobility, greater commuting times, and fewer new businesses – obstacles that can be avoided when more people choose to rent.

It’s clear that renting has many more advantages and perks when compared to other living options! Aside from living active lifestyles without the stresses of home maintenance, renters might have better job prospects too. In Arcadia Run, residents have access to some of the best and most extensive amenities in Manassas. Our apartments are brand new and are available in a variety of floor plans with plenty of styles to choose from. Residents can join a great community that offers so much, all while enjoying this charming and historic town!

Source: CNN Money

Renting ‘Just Makes Sense’ For Many

Posted on November 13, 2013 by gottarunrunrun

Deciding whether to rent or buy a home can be very challenging. Economists and industry experts everywhere are pegging this year to be one of the best to buy a home. Conversely, some of the same experts and industry leaders are advocating for the opposite – saying that it’s a prime market for renters. For many, renting just makes sense – financially and logistically. Here’s why:

They don’t want the hassle of homeownership.
Sure, the idea of homeownership may be tantalizing. Before the recession, owning a home nearly guaranteed financial security. Today, it’s considered to be a huge gamble. This stress alone is enough for many to rent instead. And, the risks of buying a home go far beyond financial strains – losing your home can mean losing everything you’ve worked for. This is the very reason why more and more people are choosing to rent. It dodges the risks of buying a home yet allows the tenant to live in a place they love, like Manassas.

They want to stay active.
Arcadia Run might very well be the most active apartment community in Northern Virginia. With amenities that can keep up with our lively residents, and a wide selection of floor plans, our complex is the only choice. And, aside from staying physically active, many choose to rent in order to maintain mobility in their career. Who knows where they’ll be in 10 years, let alone the next 30?

The apartment market is as promising as the housing market.
Many people unfairly label the apartment industry as a fleeting or non-beneficial investment. The truth is, the apartment market has mirrored the housing market almost identically. So as housing has continued its recovery over this year, so has the apartment industry. The planning, building, and renting of an apartment complex, as well as the residents’ use of local businesses, provides an unprecedented financial boost to the economy. In 2011, the apartment industry and its residents, contributed $1.1 trillion to the national economy. They also supported nearly 25.4 million jobs across the country.

While deciding to rent or to buy will always be a hot debate, one of the best places to rent in Northern Virginia is Arcadia Run. Our luxury apartments give renters the most options possible in Manassas and provide stress-free living for countless tenants. With building maintenance, resident amenities, and prime location in a Washington D.C. metro, apartment living couldn’t get any better than this!

Source: The National Multi Housing Council

Benefits of Renting a Luxury Apartment

Posted on October 31, 2013 by gottarunrunrun

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.

11 Things to Do in Manassas

Posted on October 24, 2013 by gottarunrunrun

We already know that Arcadia Run is located in one of the most charming towns in Virginia. But Manassas, VA is also filled with plenty of fun things to do for people with all interests. Whether you’re searching for adventure or a relaxing evening, here are 11 of the many things to do in Manassas:

1. Brush up on your history: If you’re a history buff, you’re in luck. Manassas is completely immersed in American history – there are numerous Civil War sites and historical buildings. You could visit the Manassas National Battlefield Park or any of the buildings listed on the historic registry.

2. Grab a bite to eat: Hungry? Perfect! Manassas has many restaurants like Foster’s Grille and Zabb Thai that are local favorites. Explore the dining scene and find a new favorite dish!

3. The Candy Factory: This historic building, which was once a busy candy factory, now hosts the Center for the Arts. They welcome nearly 15,000 visitors a year and introduce new art to people of all ages.

4. Escape: Stressful week? Visit any of the spas right here in Manassas. You can choose from LaFemme, Escape, Harmony and many more.

5. Go to a play: Vpstart Crow Productions at the Cramer Center is the only professional theatre company in our area. From Shakespeare to contemporary playwrights, Vpstart Crow Productions is one of the best and always puts on a great show.

6. Bull Run Regional Park Shooting Center: With five different shooting games and a Learn-To-Shoot class, newcomers and veterans alike will have a great time at the range.

7. BadWolf Brewing Company: This local brewery focuses on making quality craft beers that appeal to the residents of Manassas. At their brewery, you can bring your own food or order delivery to enjoy with their beer.

8. The Harris Pavilion: This pavilion changes with the seasons: In the spring and summer it’s open for concerts and performances. Then in November, it’s transformed into an open-air ice rink. No matter the season, there’s always something fun to do at the pavilion!

9. Fly: American Aviation Services offers flight lessons with a FAA certified instructor at the Manassas Regional Airport. Students will get to take control of the plane themselves and fly. What a thrill!

10.Race: After flying a plane, why not drive a racecar? TryRacingCars.com has a location in Manassas that allows guests to learn how-to instructions of real life racecar driving.

11.Mary Louise Jackson Amphitheater: Everything from musical performance and international festivals to plays and local entertainment visit this amphitheater to perform. With seating for 750 people, any performance is bound to be a good time.

The Best Time of the Year to Rent

Posted on October 16, 2013 by gottarunrunrun

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!

Demand for Apartments Grow

Posted on October 8, 2013 by gottarunrunrun

The demand for apartments is at a new high, pushing national vacancy rates way down. This is great news for residents in Arcadia Run, who can now boast the high value of their new apartment!

Despite the improvements in the housing market, the rental market is still booming. Only four percent of U.S. apartments were vacant in the second quarter of 2013. “The simple fact that vacancy continues to compress despite such low vacancy rates speaks volumes about the ongoing demand for apartments. The national vacancy rate now stands 380 basis points below the cyclical peak of eight percent observed right after the recession,” says Ryan Severino, senior economist at Reis, a company that provides current information on commercial real estate.

The average rent may be rising because of the decrease in vacancies, but it’s still extremely affordable compared to buying a house. Like we mentioned in our last post, home prices in Manassas are on the rise, showing that our area is increasing in value and demand. What better way to live in a sought-after region while still saving your money? Arcadia Run is the best choice for young professionals who want to get the best bang for their buck.

AOL Real Estate says renting an apartment is the ideal choice for young Americans. Apartment markets are thriving the most near college and university communities, much like Manassas. Being so close to several colleges, Washington D.C., Jiffy Lube Live, and an abundance of bars and restaurants, it’s clear why this region is so popular among renters with active lifestyles.

As we’ve seen in the past, the housing market can be very unpredictable. Renting is a great option for those who want security and don’t want to deal with the stresses of homeownership. Arcadia Run apartments are also of higher quality than many of the homes sold in our area. With up-to-date features that are above the standard of most new homes, and a dynamic community for residents, our apartments have proven to be the hottest new place to live.

At Arcadia Run, it’s easy to see why these apartments are in such high demand. They’re newly built, come with the best features, and have gained a following of fun and lively residents. As the demand for luxury apartments continue to rise, you can bet Arcadia Run will fill up quickly!

Source: AOL Real Estate

Home Prices Soar

Posted on October 1, 2013 by gottarunrunrun

Nearly every time statistics are published regarding the housing market, renters benefit from the good news in some way. Now, home prices are once again rising, reassuring renters all over the country. Renters get the best of both worlds; they can take advantage of the improving economy, while avoiding the increases in home prices by renting.

According to the Federal Housing Finance Agency (FHFA), in July, home prices rose 1.0 percent since the previous month, totaling in a 12.5 percent price increase since January 2012. July also marked the 18^th month in a row to see increases on the House Price Index- Purchase Only, conducted by the FHFA.

Additionally, the S&P/Case-Shiller House Price Index – 20 City Composite grew by 12.4 percent over this past year. This contributed to a 21.2 percent gain on this index since March 2012. Despite these current gains in home prices, there is still much more room for improvement. Basically, this means that home prices are going to continue to rise until they reach pre-recession levels.

It’s clear that housing markets are improving everywhere in the country, including Manassas. Pulling statistics from Trulia.com, the median sales price in our city has increased over 20 percent since this time last year. While increases in home prices mean that the economy is recovering, it doesn’t help out those who want to move into a new home. And, as Manassas becomes a more popular and desired place to live, home prices are only expected to keep growing.

Renters in Arcadia Run can live in this great area, without paying for an expensive house. Our apartments are all newly built, luxury apartments. They incorporate features not likely to be available in other residences; like extended windows, new designer cabinets, and granite kitchen countertops. The amenities offered to renters are equally as impressive, including a jogging trail, a playground, a fitness center, and a swimming pool planned for 2014. Arcadia Run is also in close proximity to Washington D.C. and major highways, ensuring you get everywhere you need to be.

You too could live in the charming historic Manassas, in an expertly built apartment. When you rent in Arcadia Run, you get all the benefits of owning a beautiful, quality home and much more, but without drying out your bank account.

Sources:

The National Association of Home Builders (NAHB)

Trulia.com

Apartment Market Gains Momentum in Q2

Posted on September 25, 2013 by gottarunrunrun

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 11^th 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

Welcoming the Fall Season

Posted on September 24, 2013 by gottarunrunrun

Ahh, it’s officially fall. What do you have on your bucket list this season? Here are a few of our favorite fall activities around the Manassas area – and we think you’ll enjoy them too!

Bands, Brews, and Barbeque Festival

To kick off your fall festivities, visit the 3^rd annual Bands, Brews, and Barbeque Festival this weekend (Sep. 28, 12:00pm to 7:00pm) on The Manassas Museum Lawn. This is a free festival where attendees can enjoy a picnic on the lawn, the best barbeque in Virginia, and listen to talented bands play everything from rock to jazz.

Manassas Fall Jubilee

The following weekend, stop by the 31^st Annual Manassas Fall Jubilee in Old Town Manassas. This event is the classic fall festival with everything from crafts, to face painting, to food and entertainment. If you’re not quite ready for fall, this festival is sure to put you in the mood.

Visit a Farm

Just 20 minutes out of Manassas is Burnside Farms, a farm that offers pick-it-yourself organic produce. You can pick out the perfect pumpkin for carving or get a basket full of fresh apples.

Shop at a Farmer’s Market

If you can’t make it to a farm, visit the Farmer’s Market held every week in Manassas. In the fall, produce switches to pumpkin, squash, kale, and other seasonal fruits and vegetables. Visiting a local farmer’s market lets you buy the freshest produce while supporting local farmers.

Manassas National Battlefield Park

Feel like indulging in a little history? No problem. Visit the Manassas National Battlefield Park on a sunny day to explore the rich history of our town. This park is also the number one ranked attraction in Manassas! Go with your friends or family to take a tour and learn a little bit about the 1^st and 2^nd Battle of Manassas. The crisp air and colorful leaves will only add to your experience.

These are only just a few of the many, many things to do in Manassas during the fall season. We look forward to more festivals, spooky attractions, and colder weather in the future!

14.5% of US Homeowners Underwater

Posted on September 18, 2013 by gottarunrunrun

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