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Renters Can Afford More for Less

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Arcadia Run Unit 122 Living Area

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.

 

Home Affordability Plunges in 2nd Quarter

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More news was published from the housing market that shows yet another reason why it’s better to rent. In the second quarter of this year, home affordability plunged to shockingly low rates. In the first quarter of 2013, 73.7 percent of homes sold were considered affordable with the national median income of $64,400. In the second quarter, that rate dropped to just 69.3 percent. This is the first time since 2008 that home affordability has fallen below 70. While the percentage difference doesn’t seem too significant, it represents thousands of people who can no longer afford homes.

According to CNN Money, the fall in affordability is most likely due to “stagnant incomes, higher home prices, and climbing mortgage rates”. Even though increasing home prices mean the economy is improving, for the average person, buying a home just isn’t a smart or financially responsible move. So, what’s the better option? Renting, of course!

Arcadia Run offers a better living alternative for families and young professionals alike. Renting means that tenants can avoid the rising home prices and mortgage rates that are currently plaguing the housing market. Compared to mortgage payments, renting is much more affordable. Additionally, renters don’t need to deal with the time and hassle that’s put into maintaining a house – Arcadia Run takes care of that for you!

Our buildings are brand new and have the best features you’ll find in any apartment. Each unit has granite countertops, 9-foot ceilings, and extended windows. Residents are comfortably close to downtown historic Manassas, something that would not be feasible if they were to buy a house. There are also wonderful amenities available to all renters that include a pool (coming 2014), ball courts, a fitness center, a playground, and a jogging trail.

The renting industry is seeing a great boost this year from more and more people choosing to rent over buying a house. This has an amazing impact on the industry as a whole, bringing in more renters and revenue, and ultimately making apartment living more enjoyable. Instead of taking the many financial risks that come with buying a house, make a smarter investment and choose Arcadia Run.

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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Screen shot 2013-08-14 at 3.47.40 PM

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.

Dixie Power Trio Comes To Town

Posted on by Arcadia Run

Break out the picnic basket, strap on your boots and get ready to listen to some New Orleans rock n’ roll. The Dixie Power Trio is performing Saturday, August 17, at the Center for the Arts. Each Saturday during summer, the Center for the Arts partners with Micron Technology Foundation, the City of Manassas and the Harris Pavilion to offer free concerts to the public. A variety of popular folk, rock, country and more play each Saturday evening, giving the community an opportunity to connect over great music, food and fun.

summer sound banner

This Saturday The Dixie Power Trio is bringing their Louisiana style beats to Harris Pavilion. Inspired from New Orleans, the “trio” is actually made of four men: jazz musician Zack Smith, tubist Andy Kochenour, guitarist Chuck Underwood, and drummer Byron McWilliams. The trio has been playing clubs, concerts and schools for over two decades. Borrowing tunes from Led Zeppelin, the Ramones and Chuck Berry, the group has a knack for mixing rock n’ roll with a spice of Cajun.
dixie power trio
The Washington Post describes the trio as, “a class menagerie of tunes…from Lou Reed to Louis Armstrong, The Beatles to Led Zeppelin, Dr. John to The Neville Brothers. They call it Dixieland music for the 21st century, but it’s worth hearing now!”.

For information about the artists, click the link below:

http://www.dixiepowertrio.com/

What: Summer Concert Series

When: Saturday, August 17

Where: Harris Pavilion, 9116 Center Street, Manassas

Time: 6:30pm

Rain or shine!

Directions from Arcadia Run:

1. Head southeast on Wellington Rd. toward Virginia Meadows Dr.
2. Turn right onto VA-234 S/Prince William Pkwy
3. Take the VA-28 N ramp to Manassas
4. Merge onto Nokesville Rd
5. Continue onto Center St. Harris Pavilion will be on the right.

For more information about the Summer Sounds Concert Series, visit http://center-for-the-arts.org/

Bookcase Styling 101

Posted on by Arcadia Run

Bookcases are not only a classic place to store your novels but also a vehicle for creativity and expression of style! Make the most out of your bookcase by accentuating it with unique trinkets and sentimental artifacts. We’ve pulled together some inspirational looks to help you get started on arranging your bookcase!

When it comes to arranging books, classic isn’t always better. Try stacking your books horizontally rather than vertically for something different! This also gives you the option of adding a decorative accent like a candle on top the books for more visual appeal.

BHG Horizontal Books

(Image Source: BHG)

Use your bookcase to store craft supplies but do it in an organized, disguised fashion like Kelli of Lolly Jane! Kellie cleverly stored away her crafting tools in mason jars, crates, and trunks. Check out her guide on how to build your own crafting bookcase here!

Lolly Jane Trunk Bookcase

(Image Source: Lolly Jane)

Keep your bookcase functional and organized with storage bins and magazine holders! Just make sure you stick to a set color palette when choosing your organizers so they don’t become distracting. Mix in some decorative pieces to keep it from looking lackluster.

Apartment Therapy Organized Bookcase

(Image Source: Apartment Therapy)

Create a shabby chic look with your bookcase by arranging vintage accents among the books. Visit your local thrift store or antique shop to find some charming one-of-a-kind pieces. Up the vintage vibe with some antique books!

BHG Antique Bookcase

(Image Source: BHG)

If you’re going for a romantic feminine look in your apartment, trying painting the back of your bookcase a fun color like bright pink! Then decorate with neutral colored books, vases and frames to let the color stand out.

Censational Girl Pink Bookcase

(Image Source: Centsational Girl)

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!

Thai Food Worth Celebrating is at Zabb Thai in Manassas!

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There’s something about great Thai food that makes it so much more memorable.

Maybe it’s because the flavors are so bold and spicy and the dishes are so aesthetically pleasing, but we believe finding the best Thai restaurant in a neighborhood is a conquest that, until completed, requires constant vigilance.

Thankfully, if you live in Manassas, you needn’t look further than Zabb Thai restaurant.

Zabb Restaurant

Zabb is all about celebrating great meals, great company and, well, celebrating you. The restaurant offers a trendier, more modern interior than most Manassas places, which makes the place a great destination for dates, girls’ nights out or even just an after-work gathering. The wait staff is superb to match the atmosphere.

But what makes Zabb so great, of course, is the food. Try the salt chili pork and just try to tell us you’re not in love. Looking for a classic? The pad thai wows even those who are Thai food experts.

Zabb also offers a range of vegetarian options, so you can be sure all palates will be happy to head over. Try the wonton soup (get it spicy if you cat take the heat!) and the green curry vegetable, a bright and coconut-y dish that will have you planning a return visit very soon.

Best of all, Zabb Thai restaurant is located close to home at Arcadia Run. Head over for a meal after dinner or stop by Zabb for one of their great lunch or happy hour specials.

We love the atmosphere, style and flavors at Zabb Thai restaurant. Hurry over and consider your Thai food exploration complete.

For more information, “like” Zabb Thai on Facebook!

Image: Zabb Thai