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1331 E Preston Dr
Alpine, UT 84004
$3,200,000
Conventional
Property
Bedroom
7
Bathroom
6
Property Type
Conventional
Square ft
--
Property Description
Welcome to your own piece of paradise! This stunning estate home offers a blend of luxury, comfort, and outdoor enjoyment that's truly unparalleled. As you enter the spacious foyer, gorgeous hardwood floors, custom molding and a grand curved staircase, set the tone for the elegance and comfort throughout. The wood-paneled office features an inviting fireplace and beautiful built-in cabinetry, offering a serene space for productivity. The great room with its cozy fireplace and breathtaking views of the majestic mountains, is the heart of the home, creating the perfect backdrop for gatherings and special occasions. Cooking is a joy in the updated kitchen, featuring stunning cabinetry, a generous island, a separate butler's pantry, and a remarkable appliance garage/workstation, along with top-of-the-line Sub-Zero and Wolf appliances, a steam oven, convection oven, micro/speed oven and dual dishwashers. A huge pantry ensures ample storage, while casual dining areas offer mountain, courtyard, and pool views. The Owner's Suite features an intimate sitting area with a fireplace and French doors leading out to the courtyard, where you can enjoy stunning mountain vistas. The ensuite bathroom and spacious closet provide the ultimate in relaxation and convenience. From the main living areas, you can step outside to the central courtyard and soak in unobstructed mountain views, with open space behind offering instant access to trails for biking and hiking. Outdoor entertainment is unparalleled boasting a Jacuzzi, a pool featuring lion head fountains and three fire bowls, a large fire pit for s'mores, a tennis court with Pickleball lines and lights, tiered garden boxes with irrigation, and an outdoor shower. The meticulously landscaped grounds feature fruit trees, asparagus/strawberry, raspberry, and blackberry patches, grapevines, and hundreds of hydrangeas and white roses blooming from May to October. Additional features include a pergula with a custom swing, new real wood garage doors for the 4-car garage, a tool shop For added versatility, a portion of the upstairs can be shut off creating a one-bedroom apartment with an office, laundry, kitchen and great room which rents for $1700 per month. Downstairs there is also a separate mother-in-law apartment with lower-level side entrance which features a full kitchen, 3 bedrooms, 1 bath, family room and laundry. There is also a gym with reclaimed Barnwood accents, 3 new furnaces, two water heaters, a built-in safe, huge cold storage room, and a 50-year roof with architectural shingles. Don't miss the opportunity to make this extraordinary estate your own private sanctuary. Schedule your tour today! Square footage is provided as a courtesy estimate only and was obtained by appraisal sketch. Buyer is advised to obtain an independent measurement. The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed.
Property Information
Lot Size
-- square ft
Property Type
Residential
Year Built
2005
MLS Number
1982581
Location
Address
1331 E PRESTON DR
City
Alpine
State
UT
Zip Code
84004
County
UTAH (COUNTY NORTH)
Listing
Provider
eXp Realty LLC, original listing
Name
eXp Realty LLC
Phone
(385) 419-1397
Office Name
EXP Realty, LLC
Office Phone
(385) 419-1397
Agent Name
Gina Brown

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HUD Foreclosures

HUD foreclosures and VA Foreclosures are some of the best homes to buy when price is part of the equation. As with most Americans, price is always a concern. If not buying the same house for less, why not buy more house for the same dollar invested? When looking for a good deal it is hard to do better than the VA or HUD foreclosures market. The simple truth is that there are just more VA and HUD homes on the market, as they represent such a large number of mortgages that are generated each year. This translates into more foreclosures just by the magnitude of difference between all others comparing to the two largest. The two largest also being government owned and operated means that they have less time to wait to make money back on the home. The FHA is especially known for selling HUD homes for less than the average sales price in a given area. FHA foreclosures represent a fraction of HUD but they are still a significant number of homes and both should be considered. VA (Veterans Administration) and HUD (Housing and Urban Development) have different and unique opportunities for the buyer. Both are often forgiven for the local taxes normally associated with the purchase of a home (this is on a county by county basis). Be sure to ask the local title company or escrow company to look into it for you before closing as this is often missed due to their are not used to dealing with the 2 to 3 percent of the market that VA and HUD foreclosures represent.

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Foreclosure Listings Increasing

As the market settled after the mortgage meltdown foreclosure listings also settled and fewer homes were on the market with a placard reading “Bank Foreclosure” in big red lettering. This was a good thing for the entire real estate market. Having an abundance of foreclosures brings the entire market down and it makes it harder for home owners, who would like to move, to get the appropriate price for their home as a similar home down the same street was sold for substantially less and the appraiser is using the foreclosure as a comparable sale. This is just one of the problems when there are too many foreclosure listings in any area. Another issue is the television set that sits in everyone’s living room harping about the price of homes based on the number of foreclosures and this constant barrage of negative information makes most people sit on the sidelines waiting for the market to either implode completely or to correct itself. Meanwhile while they wait, others are buying foreclosure listings and making great investments. Whatever the reason, a market can only handle so many foreclosure listings at any given time. The more foreclosures, the lower the market gets and this is a lesson the banks that were foreclosing and selling off realized too late. The market and their investments would have been better off if there had not been a rush to divest themselves of the toxic assets made more toxic by their own actions.