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Just Listed in Arlington

Just Listed highlights Arlington properties that just came on the market within the past week. This feature is written and sponsored by Andors Real Estate Group.

Welcome to JUST LISTED, Arlingtonians!

I’ll pile on the bad news for those seeking a mortgage and let you know right off the bat that rates have continued to surge, with Freddie Mac reporting that over the past week, the average rate has hit 6.7%, and that’s with almost a full point at closing!

Wow, compare this to the same week last year when mortgage rates were 3.01%. This translates to well over $1,000 in additional costs for a typical Arlington mortgage, per month!

What does this mean for buyers and the market? Well, it means it has gotten more expensive to finance a home, but the rest of the calculation is the same — go ahead and buy that home, live in it for five or more years, and expect that you may refinance somewhere along the way! Mortgage rates are not likely to stay this high, though they may continue to rise in the short term — there will be opportunity down the road to correct your mortgage payment with a lower interest rate. Give strong consideration to an ARM (adjustable-rate mortgage) product these have surged in popularity recently and can save you a lot of money.

This week in Arlington, sellers listed 64 homes for sale (three more than last week), while buyers ratified 45 contracts, 19 of which were on homes just listed in the last seven days.

Of the 415 homes currently available for sale (one more than last week), 137 are detached homes, 69 are semi-detached/town houses, and 209 are condos. Of those currently available properties, the average asking price is $919,984 and the median is $699,999. These properties have been sitting on the market for 53 days on average, while the median is 29.

PICK OF THE WEEK — The Andors Real Estate Group is proud to have JUST LISTED 2735 Fort Scott Drive, Arlington, VA 22202 — $1,650,000.

This is a once in a generation (or two or three) opportunity to own a one-of-a-kind storied Arlington Colonial with views! In the same family for over half a century, this beautiful home shines with loads of charm, character and attention to detail. Beautiful wrap around staircases, soaring 20′ ceilings in the foyer, seven bedrooms, four full bathrooms and one half bathroom and nearly 5,000sf of finished space on all four levels. An almost 10,000sf lot overlooks Crystal City’s skyline and into Washington, D.C. Gorgeous hardwoods throughout, large proportioned rooms, a very functional floor plan and a walk-out lower level are just some of the features of this wonderful home.

Find my team there this weekend for public open houses, Saturday 1-4 p.m. and Sunday 1-3 p.m.!

Click here to search currently available Arlington real estate. If you see a home that you’re interested in purchasing, give us a call! Our team are experts at WINNING when it comes to Arlington real estate — our agents routinely outmaneuver others when it comes to multiple offer scenarios — call us to find out how!

Call the Andors Real Estate Group today at (703) 203-1117 to talk more about buying or selling Arlington real estate. Below are eight properties I think you might light to check out!

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Just Listed in Arlington

Just Listed highlights Arlington properties that just came on the market within the past week. This feature is written and sponsored by Andors Real Estate Group.

Good morning, Arlingtonians, and welcome to JUST LISTED!

Well, the negative economic news continues to weigh heavily on interest rates, and Wednesday’s Fed rate hike marks three in a row at 75 basis points, or ¾%. The reality is that we are approaching, and in some regards have already hit, an affordability ceiling. The 30 year fixed rate mortgage averages 6.29% over the past week according to Freddie Mac, the highest it’s been since October of 2008.

Many like to point out that these rates are reasonable, at least historically. While that’s true, what that sentiment does not take into account is that home prices were hundreds of thousands of dollars lower, and it also does not factor in that incomes haven’t kept up with house prices. So, we do in fact have an affordability problem now that interest makes up such a large share of a monthly mortgage payment.

This is impacting the local real estate market. Sellers feel it, agents feel it, and buyers are, well, missing. Sure, there is some activity, but it is massively impacted by the things I mention above, and transactional volume is down while inventory is rising. The supply and demand equation that drives real estate is shifting, and it is taking longer to sell a home, even in a highly desirable area such as Arlington.

Right now, there are 30 properties in “Coming Soon” status. This does not account for all of the new and upcoming inventory we’ll see hit the market in coming weeks, but it does show that sellers still plan to sell homes this fall, potentially adding to the rising inventory we’ve seen for the past five weeks.

This week in Arlington, sellers listed 61 homes for sale (21 less than last week), while buyers ratified 14 contracts (15 less than last week), just 10 of which were on homes just listed in the last seven days.

Of the 414 homes currently available for sale (20 more than last week), 140 are detached homes, 59 are semi-detached/town houses, and 215 are condos.

Of those currently available properties, the average asking price is $916,448 and the median is $699,950. These properties have been sitting on the market for 52 days on average, while the median is 30.

This week last year, there were 555 properties available for sale, sellers listed 77 homes and buyers ratified 77 contracts. Mortgage rates were 2.88%!

PICK OF THE WEEK — The Andors Real Estate Group is proud to have JUST LISTED 1912 N. Daniel Street, Arlington, VA 22201 — $950,000.

You won’t want to miss this gorgeous brick townhome featuring three bedrooms, two full bathrooms and one half bathroom, loaded with recent updates and renovations. Nearly 2,000sf of finished living space, a gorgeous white kitchen with Calcatta Gold Quartz countertops and brand new stainless steel appliances, hardwood floors throughout, an envious owners suite and an attached one car garage! Note, our team has an ownership interest in this property.

Find my team there this weekend for public open houses, Saturday and Sunday 1-3 p.m.

Click here to search currently available Arlington real estate. If you see a home that you’re interested in purchasing, give us a call! Our team are experts at WINNING when it comes to Arlington real estate — our agents routinely outmaneuver others when it comes to multiple offer scenarios — call us to find out how!

Call the Andors Real Estate Group today at (703) 203-1117 to talk more about buying or selling Arlington real estate. Below are eight properties I think you might light to check out!

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Just Listed in Arlington

Just Listed highlights Arlington properties that just came on the market within the past week. This feature is written and sponsored by Andors Real Estate Group.

Hey, Arlingtonians, and welcome to JUST LISTED!

Mortgage rates just topped 6%, another fresh new high since 2008. The persistent inflationary environment is spooking banks and it’s really showing up in the cost of borrowing money.

“Will this make home prices go down?” No, it will not, not necessarily. Nationally, there are some indications that home prices are falling, though only in certain instances or price points. With that being said, overall inventory nationally, but especially locally, is very low. This means that prices will stay propped up; remember, at the end of the day this is still and always will be, a supply and demand equation. If there are more buyers than sellers, prices generally will remain the same, or rise.

Another week of solid new listings has resulted in slight growth in available inventory — expect this to continue for at least the next few weeks, possibly longer, as fall approaches. After all, fall is the “second spring market” and is historically a great time to sell a home.

As I write this, there are 30 properties in “Coming Soon” status, a good indicator that more and more properties will become available over the next 21 days.

This week in Arlington, sellers listed 82 homes for sale (14 more than last week), while buyers ratified 59 contracts (16 more than last week), 27 of which were on homes just listed in the last seven days. Of the 394 homes currently available for sale (2 more than last week), 134 are detached homes, 57 are semi-detached/town houses, and 203 are condos.

Of those currently available properties, the average asking price is $926,076 and the median is $699,999. These properties have been sitting on the market for 55 days on average, while the median is 34.

This week last year, there were 555 properties available for sale, sellers listed 107 homes and buyers ratified 79 contracts. Mortgage rates were 2.86%!

Click here to search currently available Arlington real estate. If you see a home that you’re interested in purchasing, give us a call! Our team are experts at WINNING when it comes to Arlington real estate — our agents routinely outmaneuver others when it comes to multiple offer scenarios — call us to find out how!

Call the Andors Real Estate Group today at (703) 203-1117 to talk more about buying or selling Arlington real estate. Below are eight properties I think you might light to check out!

500 N. Nelson Street
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Just Listed highlights Arlington properties that just came on the market within the past week. This feature is written and sponsored by Andors Real Estate Group.

Good morning and welcome to JUST LISTED, Arlingtonians!

WOAH — mortgage rates just hit their highest average since 2008 — 5.89% average for the standard, 30-year fixed rate mortgage. This continued upward trend reflects the nervous sentiment about the overall trajectory of the economy, the persistent and elevated rate of inflation and simple uncertainty that comes from this.

The flood of inventory I predicted would hit our marketplace just after Labor Day is here, and available properties just jumped significantly, after a six-week run of decreasing inventory.

Additionally, as of now, there are 24 properties in “Coming Soon” status, many of which will begin hitting the market over the next few days and within 21 days at most. This number varies greatly depending on the day of the week, due to the weekly cycle most agents follow of listing properties in “active” status on Thursday and Friday.

What are we seeing in the market right now? Well, we’re seeing some things we hadn’t for a long time. Lowball offers, houses sitting that everyone thought would sell, an abundance of price reductions to find the marketplace, and overall lower activity on all fronts. The reality of our market, and how fast it has shifted is lost on some, especially on sellers. The days of intense bidding wars, large price escalations and over-exuberance are largely behind us, and that may be the new norm, for a while.

This week in Arlington, sellers listed 68 homes for sale (22 more than last week), while buyers ratified 43 contracts, 12 of which were on homes just listed in the last seven days. Of the 392 homes currently available for sale (34 more than last week), 131 are detached homes, 62 are semi-detached/town houses and 199 are condos.

Of those currently available properties, the average asking price is $902,205 and the median is $715,000. These properties have been sitting on the market for 55 days on average, while the median is 37.

This week last year, there were 532 properties available for sale, sellers listed 93 homes and buyers ratified 41 contracts. Mortgage rates were 2.88%!

Click here to search currently available Arlington real estate. If you see a home that you’re interested in purchasing, give us a call! Our team are experts at WINNING when it comes to Arlington real estate — our agents routinely outmaneuver others when it comes to multiple offer scenarios — call us to find out how!

Call the Andors Real Estate Group today at (703) 203-1117 to talk more about buying or selling Arlington real estate. Below are eight properties I think you might light to check out.

6124 11th Street N.
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Just Listed highlights Arlington properties that just came on the market within the past week. This feature is written and sponsored by Andors Real Estate Group.

Welcome to JUST LISTED, Arlingtonians!

Mortgage rates continue to rise, averaging 5.66% over the past seven days. This is due to the continued aggressive monetary policies the Fed is taking as they contend with consistent, high inflation.

It’s anyone’s guess just how high rates will go, but expect that they have not peaked yet. The Fed keeps moving the goalposts, and banks, consumers and markets will continue to tumble and seek shelter until we receive more clarity. This unpredictability translates into a tumultuous fall for the housing market.

The inventory slide continues for the seventh straight week, indicating that despite interest rates, demand in Arlington remains strong overall. This resilience in Arlington is nothing new, it played out in 2008 and has for many decades, but the market is not irrational either. Most of the exuberance we witnessed over the past two years had to slow at some point, and the market does continue to slow now.

Open houses are slow, private agent showings are dwindling and sellers continue to make price adjustments to find the current market. Price growth trajectory is predicted to slow significantly for the next 6-9 months and possibly beyond.

This week in Arlington, sellers listed 46 homes for sale (10 more than last week), while buyers ratified 42 contracts, nine of which were on homes just listed in the last seven days.

Of the 358 homes currently available for sale (six less than last week), 120 are detached homes, 54 are semi-detached/town houses and 184 are condos.

Of those currently available properties, the average asking price is $919,219 and the median is $730,000. These properties have been sitting on the market for 61 days on average, while the median is 43.

This week last year, there were 483 properties available for sale, sellers listed 63 homes and buyers ratified 56 contracts. Mortgage rates were 2.87%!

Click here to search currently available Arlington real estate. If you see a home that you’re interested in purchasing, give us a call! Our team are experts at WINNING when it comes to Arlington real estate — our agents routinely outmaneuver others when it comes to multiple offer scenarios — call us to find out how!

Call the Andors Real Estate Group today at (703) 203-1117 to talk more about buying or selling Arlington real estate. Below are eight properties I think you might light to check out!

812 S. Wakefield Street
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Just Listed highlights Arlington properties that just came on the market within the past week. This feature is written and sponsored by Andors Real Estate Group.

Hello Arlingtonians, and welcome to this week’s edition of JUST LISTED!

At the risk of sounding like a broken record, mortgage rates are surging and inventory is plummeting. This puts us in an interesting position heading into the fall which is typically a busy time for real estate transactions in the region and especially in Arlington.

Rates just hit their highest level in two months, reaching 5.55% for a 30-year fixed rate mortgage!

Inventory had built up quite a bit, and in fact, it has plummeted by 20% in just the last six weeks! Our housing market looks well positioned heading into the fall and should be able to withstand any economic swings that may arise.

We’re hearing questions about price stability here in Arlington and the region more broadly. Specifically, are prices going down? The short answer — no, prices are steady. We simply do not have a buildup of inventory to result in a shift in the supply and demand equation, and I do not expect that to change anytime soon. The reason prices would decline is the opposite of why the rise, a dramatic decline in demand, but there are just too many things happening in Arlington that continue to make this one of the most in-demand regions in the country.

This week in Arlington, sellers listed 36 homes for sale, while buyers ratified 51 contracts, 14 of which were on homes just listed in the last seven days.

Of the 366 homes currently available for sale (24 less than last week), 119 are detached homes, 53 are semi-detached/town houses and 194 are condos.

Demand for condos has continued to be very strong as purchasing power declined this year. Condos tend to be the most affordable type of housing in Arlington, so with mortgage payments rising based on higher interest rates, it was very predictable that the condo market would recover this year, and it has! You might recall that in 2020 and into 2021, many people were leaving condos for more space as well as able to afford more home, so townhomes and detached homes soared while condos sat…

Of those currently available properties, the average asking price is $916,103, and the median is $694,950. These properties have been sitting on the market for 61 days on average, while the median is 42.

This week last year, there were 511 properties available for sale, sellers listed 50 homes and buyers ratified 44 contracts. Mortgage rates were 2.87%!

PICK OF THE WEEK — 2700 S. Grant Street, Arlington, VA 22202 — $1,099,000

Welcome home to this beautiful brick colonial perched on a quiet street in Aurora Hills. Featuring four bedrooms, two full and one half bathroom and loads of updates throughout, including bathrooms and the kitchen. A foyer entry leads to a large living room that opens to the dining room and open concept kitchen with bar seating. A sun porch on the side of the home leads to the surprisingly private, serene and terraced backyard with a screened gazebo! Radiant heat throughout the home, loads of storage, a basement rec room and large storage/ utility area, and driveway parking — this one is not going to last.

Find myself, and my team here this weekend — Saturday and Sunday public open houses from 1-4 p.m.

Click here to search currently available Arlington real estate. If you see a home that you’re interested in purchasing, give us a call! Our team are experts at WINNING when it comes to Arlington real estate — our agents routinely outmaneuver others when it comes to multiple offer scenarios — call us to find out how!

Call the Andors Real Estate Group today at (703) 203-1117 to talk more about buying or selling Arlington real estate. Below are eight properties I think you might light to check out!

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Just Listed highlights Arlington properties that just came on the market within the past week. This feature is written and sponsored by Andors Real Estate Group.

Good morning Arlingtonians, and welcome to this week’s edition of JUST LISTED!

Inventory in Arlington is falling, and it’s falling fast. With buyers outpacing sellers on number of homes ratified vs. number of new homes listed for sale, we’ve got the lowest inventory of currently available homes in the past three months.

Interest rates took a bit of a breather, falling just nine basis points to an average of 5.13% for a standard 30-year fixed rate mortgage.

This week in Arlington, sellers listed 42 homes for sale, while buyers ratified 53 contracts, 13 of which were on homes just listed in the last seven days.

Of the 390 homes currently available for sale (27 less than last week), 125 are detached homes, 53 are semi-detached/town houses, and 212 are condos.

Of those currently available properties, the average asking price is $887,433 and the median is $667,000. These properties have been sitting on the market for 58 days on average, while the median is 37.

This week last year, there were 506 properties available for sale, sellers listed 53 homes and buyers ratified 59 contracts. Mortgage rates were 2.86%!

PICK OF THE WEEK — 900 18th Street S., Arlington, VA 22202 — $1,375,000

Built in 2000, this Arlington Colonial boasts a surprising amount of living space across four finished levels, over 4,100sf! Center hall entryway leads to a large open concept main level with gorgeous flooring, large, eat-in kitchen with granite counters and an island seating area, formal living, office space, a large family room and a convenient powder room. Dual, large owner’s suites upstairs, as well as three additional bedrooms and two hall bathrooms, plus a flexible space for home school, workouts, games and more!

Lower level with separate entry could serve as an in-law suite and features a kitchenette. Two car garage, rear patio, loads of natural light throughout the whole home and plenty of updates including multiple brand-new bathrooms, this home is move-in ready!

Find myself, and my team here this weekend — Saturday and Sunday (August 20-21) public open houses from 1-4 p.m.

Click here to search currently available Arlington real estate. If you see a home that you’re interested in purchasing, give us a call! Our team are experts at WINNING when it comes to Arlington real estate — our agents routinely outmaneuver others when it comes to multiple offer scenarios — call us to find out how!

Call the Andors Real Estate Group today at (703) 203-1117 to talk more about buying or selling Arlington real estate. Below are eight properties I think you might light to check out!

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Just Listed highlights Arlington properties that just came on the market within the past week. This feature is written and sponsored by Andors Real Estate Group.

Hey there Arlingtonians, and welcome to this week’s edition of JUST LISTED!

Activity continues to remain slow this second week of August, and mortgage interest rates significantly jumping week over week is not the news sellers are looking for!

It also appears that things may remain a bit slow for at least the next few days — there are only 20 coming soon listings throughout the county at the moment. We had as many as 50 earlier in the spring, so expect volume to be low for the foreseeable future.

Last week, rates dipped below 5% for the first time since April, but since then they have shot up to an average of 5.22%, a big move for a single week.

This week in Arlington, sellers listed 45 homes for sale, six less than last week, while buyers ratified 49 contracts, 10 of which were on homes just listed in the last seven days.

Of the 417 homes currently available for sale (eight less than last week), 135 are detached homes, 60 are semi-detached/town houses, and 222 are condos.

Of those currently available properties, the average asking price is $883,176, and the median is $665,000. These properties have been sitting on the market for 54 days on average, while the median is 35.

This week last year, there were 513 properties available for sale, sellers listed 68 homes and buyers ratified 55 contracts. Mortgage rates were 2.87%!

Click here to search currently available Arlington real estate. If you see a home that you’re interested in purchasing, give us a call! Our team are experts at WINNING when it comes to Arlington real estate — our agents routinely outmaneuver others when it comes to multiple offer scenarios — call us to find out how!

Call the Andors Real Estate Group today at (703) 203-1117 to talk more about buying or selling Arlington real estate. Below are eight properties I think you might light to check out!

2015 N. Lexington Street
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Just Listed highlights Arlington properties that just came on the market within the past week. This feature is written and sponsored by Andors Real Estate Group.

Good morning Arlington — it’s hot these days but at least there is a tiny bit of relief when this column comes out, at 5:30 a.m. in the morning!

The August slump is here, and I sense a huge opportunity for buyers, as well as strategic positioning for sellers.

Transactional volume slows way down this time of year — so many people are at the beach squeezing in one last vacation before settling back into the routine of the school year, and even housing takes a breather.

While there are fewer new homes being listed for sale, there are also fewer homes being taken under contract by purchasers. Couple this with mortgage rates that have just dipped below 5% for the first time since mid-April and a decrease in overall levels of competition, and purchasers may find it easier to snag the home of their choice.

Sellers are likely waiting until September to list their home, as this strategy seems to work year over year. Though kids now go back a week before Labor Day, as opposed to always just after, the mentality and objective match up — purchasers get back on track and start shopping again in September and this shows up in an uptick in showing activity, mortgage pre-approval letters, open house visitors and ratified contracts.

This week in Arlington, sellers listed 51 homes for sale while buyers ratified 50 contracts, 12 of which were on homes just listed in the last seven days. This near equilibrium for the week is not something we experience very often in Arlington — for the majority of the year sellers have way outpaced buyers — a flip from last year where buyers frequently ratified more offers.

Of the 425 homes currently available for sale, 136 are detached homes, 59 are semi-detached/town houses and 230 are condos.

Of those currently available properties, the average asking price is $890,497 and the median is $660,000. These properties have been sitting on the market for 52 days on average, while the median is 33.

Quick note — there was a time back in January and February where the median was 12 days, so while 33 doesn’t seem like much, this is a substantially different market and the dynamics continue to change rapidly, and from week to week.

This week last year, there were 497 properties available for sale, sellers listed 63 homes and buyers ratified 67 contracts. Mortgage rates were 2.77%!

Click here to search currently available Arlington real estate. If you see a home that you’re interested in purchasing, give us a call! Our team are experts at WINNING when it comes to Arlington real estate — our agents routinely outmaneuver others when it comes to multiple offer scenarios — call us to find out how!

Call the Andors Real Estate Group today at (703) 203-1117 to talk more about buying or selling Arlington real estate. Below are eight properties I think you might light to check out!

1411 Key Boulevard #409
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Just Listed highlights Arlington properties that just came on the market within the past week. This feature is written and sponsored by Andors Real Estate Group.

Welcome to Just Listed!

Interest rates inch up three basis points, from 5.51% to 5.54%. We’re expecting another .75% rate hike from the Fed soon. I won’t get too in depth, but remember that doesn’t directly correlate to mortgage rates, but everything is related. These continued rate hikes are putting downward pressure on growth, and mortgage rates are likely to continue to rise.

At the time of publication, in Arlington there are 459 residential properties available across all property types, eight more than last week. Of those 459, 141 are detached properties, 66 are town homes/semi-detached properties and the remaining 252 are condominiums.

This past week, sellers listed 75 homes for sale, a decrease of 19, while buyers ratified 55 contracts. 19 of the ratified contracts were on homes just listed within the past seven days.

Average asking price of currently available homes is $865,183 and the median is $685,000. Currently available homes have been on the market for an average of 47 days and a median of 32 days.

This week last year, rates were sitting at 2.78%, sellers has listed 97 homes for sale and buyers ratified 82 contracts. There was a total of 545 properties for sale!

Click here to search currently available Arlington real estate. If you see a home that you’re interested in purchasing, give us a call! Our team are experts at WINNING when it comes to Arlington real estate — our agents routinely outmaneuver others when it comes to multiple offer scenarios — call us to find out how!

Call the Andors Real Estate Group today at (703) 203-1117 to talk more about buying or selling Arlington real estate. Below are eight properties I think you might light to check out!

809 21st Street S.
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Just Listed highlights Arlington properties that just came on the market within the past week. This feature is written and sponsored by Andors Real Estate Group.

Good morning Arlingtonians!

The inventory run-up continues, with another very strong week of new listings in the books.

After two weeks of declines in the interest rates, half of those have been given up as the average 30-year fixed rate mortgage went from 5.3% to 5.51%. Buyers really did take note last week and it showed up in an increase in the number of ratified contracts.

As of right now, in Arlington, there are 451 residential properties available across all property types, 19 more than last week. Of those 451, 145 are detached properties, 68 are town homes/semi-detached properties, and the remaining 238 are condominiums.

This past week, sellers listed 94 homes for sale, an increase of 32, while buyers ratified 50 contracts. 24 of the ratified contracts were on homes just listed within the past seven days.

Average asking price of currently available homes is $883,895 and the median is $685,000. Currently available homes have been on the market for an average of 45 days and a median of 30 days.

This week last year, rates were sitting at 2.88%, sellers has listed 100 homes for sale and buyers ratified 68 contracts. There was a total of 550 properties for sale!

Pick Of The Week — The Andors Real Estate Group is proud to have  JUST LISTED 2013 S. Lynn Street, Arlington, VA 22202 — $1,395,000.

Welcome home to this stunning Arlington Colonial tucked into one of the quietest parts of Addison Heights with views from Arlington Ridge down to Amazon HQ2 and the Crystal City skyline. Beautifully maintained, including a home magazine worthy owners suite spa-like bathroom, this four bedroom, three full and one half bathroom home boasts nearly 3,400sf of finished living space. Private rear decks and a tranquil backyard, one-car attached garage, soaring ceilings and gorgeous hardwood floors, this home does not disappoint!

Find me here THIS SATURDAY from 1-4 p.m. for a public open house to see this gorgeous home and take in the views!

Click here to search currently available Arlington real estate. If you see a home that you’re interested in purchasing, give us a call! Our team are experts at WINNING when it comes to Arlington real estate — our agents routinely outmaneuver others when it comes to multiple offer scenarios — call us to find out how!

Call the Andors Real Estate Group today at (703) 203-1117 to talk more about buying or selling Arlington real estate. Below are eight properties I think you might light to check out.

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