MediaOne advertising supplement to The Salt Lake Tribune/Deseret Morning News January 5, 2008 13

Anchoring the house is a huge interior space that givesthe impression of being outside.It is created by grouping all the gathering spaces on the first floor around a balcony that overlooks a garden-level family room with 34-foot ceilings. Themain-floor great room over-looks this space. The entranceoverlooks this space. Andwindows from the master suite overlook this space.

The master suite is a quiet re-treat with a separate door to theback porch and views in three directions. Highlights include a European shower, hand-dis-tressed copper sinks, a gorgeous claw foot tub, built-in cabinets,brushed-bronze fixtures and a huge walk-in closet.

The main floor also features a den, a formal living room, ahalf-bath, a pantry and a great room that links the kitchen to agenerous living room. High-lights in the kitchen include Thermador and Bosch appli-ances, a big granite island and a custom, stone hood.

Pino designed the house soall the rooms flow naturally to-gether. “I like to be able to walk around my homes without open-ing and closing doors,” he says.

The garden level is anything but a basement. Light pours in from full-sized windows, and the ceilings are just as tall asthose on the first floor.

The downstairs contains four bedrooms, including a sec-ond master which has its own bathroom, fireplace, outside entrance and security system. Also downstairs is the impres-sive theater room, which hasstadium seating and is sure to be a family favorite.

Pino was just as carefulabout everything behind the walls. The home has extra insulation that makes it more efficient and eliminates outsidenoise. It has Cat 5 wiring andan extensive stereo system. The home has an on-demandwater heater, sure to never run dry. And these are only a fewexamples.

A brief description of this house must also note the neigh-borhood. It is located in the second phase of Steeplechase,one of the most sought-after

neighborhoods in the Salt Lake Valley. It is surrounded by wonderful high-end homes. And it is only one lot away from themountainside and the gated,community tennis court, park and swimming pool.

New houses in the area are valued at over $2.5 million, some over $3.6 and this homeis a crown jewel of the neigh-borhood, Hutton says. But they want to sell it, so Pino can move

on to his next project.“This is a $3 million home in

a normal market,” Hutton says. “We have responsibly adjusted to the market. No one has ever spent a night in this home. Thisis the consummate deal people dream of, waiting for someone who can appreciate quality andvalue to stumble upon.”

For more details, call Tim Hutton at (801) 232-2738 or go to www.pinomasterpiece.com.

MARKETContinued from Page 9

Open houseAttend an open house

for this home today from 1 to 5 p.m. For details, call Realtor Tim Hutton at (801) 232-2738.

Contributed bythe Utah Association of Realtors

The news media is all abuzz these days with information about what ishappening in the real estate market. But if you rely on your national newspaper or TV network to tell you whether now is a good time to buy or sell, you may be missing some great opportunities. To get the proper per-spective on the value of real estate,you have to go right to the source, and that means talking to a Realtor in your local market.

“Perceptions about real estate have been skewed in recent monthsdue to the overwhelming focus on national figures,” said Pat V. Combs, 2007 president of the National Asso-ciation of Realtors. “While average sales and prices help us identify

trends, the fact is all real estate is lo-cal — conditions vary greatly from one city to the next.”

Here are the facts on four popu-lar misperceptions in the real estate market:

Misperception 1: No one is buy-ing a home, and home prices arefalling.Fact: According to the National

Association of Realtors, home sales were estimated to reach about 5.5 million in 2007 — about the same level of home sales seen in 2002, which was a record at the time.Fact: Utah home appreciation

continues to outperform that of any other state in the country. During third quarter 2007, Utah home prices increased 12.9 percent over that past year compared to a national increase of only 1.8 percent during the same period, according to the Office of

Federal Housing Enterprise Over-sight.

Misperception 2: Foreclosures and delinquencies are rising rap-idly in every state.Fact: Utah’s foreclosure rate has

been falling. In third quarter 2007, about 0.66 homes were in the foreclo-sure process, down from last year atthis time and well below the national foreclosure rate of 1.69 percent,according to the Mortgage Bankers Association.

Misperception 3: Stocks are a better investment than real estate. Fact: Houses are not like stocks.

Homeownership is designed to build wealth over the long term. Studies show that homeowners have an aver-age net worth of $184,000, compared to just $4,000 for renters.Fact: Owning a home also helps

strengthen our families and our com-

munities. You can’t put a price on that.

Misperception 4: Mortgage financing is expensive and hard to come by.Fact: Mortgage interest rates are at

historic lows, hovering in the low 6 percent range. Fact: Conventional financing is

readily available for qualified bor-rowers; FHA loans are becoming popular for those with less-than-perfect credit; and jumbo loan rates are even edging downward.

When you consider the facts, it’s easy to see why millions of people are choosing to buy a home this year. Although there are some challenges in today’s market, there are a number of local opportunities for seriousbuyers.

Members of the Utah Associationof Realtors and National Association

of Realtors are working in several ways to help you understand condi-tions in your local market and take advantage of the opportunities to invest in real estate:

• We provide consumers with the latest information on home sales andprices.

• We help educate prospective homebuyers about the various loan products available to them.

• We are working with lawmakersto provide more affordable financingoptions that will enable home buyersand homeowners to keep their homes for the long term.

Get the facts from people who know. For more information on home-buying opportunities here in Utah and how you can build wealththrough homeownership, contact a local Realtor.

Utah Association of Realtors

Real estate is a good long-term investment

Contributed by Newport Residential

Stegner Place is a townhomedevelopment located in the heart of Holladay that is beyond luxury…it isexquisite.

One cannot help but be impressedwhen arriving at Stegner Place. The exteriors are composed of stone, Har-diePlank, HardieShingle and stucco. Large metal-clad, double-pane wood windows frame inspiring views of Mount Olympus and vistas of the val-ley. Can you imagine waking up each morning to the sun rising over the mountains just outside your window?

Townhomes at Stegner Place are large and spacious, ranging in size from 2,500 square feet to over 3,200 square feet. The townhomes feature three to four bedrooms with twoand a half bathrooms. Three of the townhomes have master suites on themain level and two of the townhomes have upper-level master suites. The townhomes start in the high $400’s.

Designed in the Craftsman style, each townhome at Stegner Place is unique in its interior finishes. Particular attention has been paid to each detail of design and finish, and interior designers were used to hand-select the finishes of each home so that no two are alike. “Our designers have basically designed five homes, instead of choosing one package for all of them,” says Mike Akerlow of Newport Residential. “They’ve done a great job of making each home unique.” The finishes include gorgeous walnut hardwoodflooring; custom woodwork; gasfireplaces with tile hearths, surrounds and custom mantels; three-tone paint;

and exquisite granite countertopswith full tile backsplash. A completeBosch appliance package includingdouble ovens, microwave, gas cook-top and refrigerator will make everyaspiring chef excited to be cooking at home. Each homeowner will also enjoy taking a respite in their mastersuite with a large bathroom including a full shower and separate jetted tub. Sitting areas, built-in entertainment

centers and computer desks comestandard in each townhome, as do large balconies and extra rooms for storage, such as a large cold storageroom in each basement.

Stegner Place is located in the heart of Holladay. It is within minutes of a number of ski resorts and freewayaccess, and is just a short walk frommany well-known local businesses.Homeowners will enjoy walking to

Holladay’s new town center, which begins construction shortly. The grounds are landscaped beautifully and will be maintained by an owner’s association.

Finding a townhome that isn’tidentical to its neighbors is difficult to do in today’s build-it-fast market, but at Stegner Place, it’s the dif-ferences you’ll notice. “We really want people to know that we’ve paid

attention to finish and detail,” saysAkerlow. “We think it’s important that your house isn’t the same as your neighbor’s house.”

Grand openingJanuary 12-26

Stegner Place will host a grand opening celebration Jan. 12-26. For more information about thegrand opening or for open househours, please contact Steve Nelson of The Newport Group at(801) 755-6607 or visit the Web site at www.stegnerplace.com.

Come home to Stegner PlaceUnique finishes make each of these townhomes one-of-a-kind

- Models Open Monday - SaturdayTurn North on Baxter Dr. (935 W) Off 10600 South

www.arborutah.com

WEST BENCH CONDOS - Magna3450 S. 8000 W. - Condominiums starting at $156,900

Cottonwood Meadows - Willow Creek7700 South 1700 East - Lots starting at $599,000

Haven Estates - West Haven (West of Roy)5000 West 3800 South - Starting high $300’s

- South Jordan1300 West 11650 South - 1/4 - 1/3 Acres starting at $244,900

Red Mountain Estates - St. George Area (Ivins)200 North 340 East - .25 - .43 Acres $145,000 - $250,000Jan Mower 435-313-2222 - Snow Canyon Realty

- West Valley / West JordanOquirrh Mountains 6800 S. Highway 111 - Lots starting in the low $100’s

Dawnee 809-6797Marketed By Homeview Properties

Beautiful neighborhoods. Time-tested craftsmanship

Luxury Estate Homes starting at $554,900Executive Homes starting at $358,800 Estate Lots starting at $215,100

- South Jordan1300 West 10340 South

- South Jordan1000 West 10340 South - Lots starting at $199,900

HIDDEN VILLAGE