Salt Lake Tribune
The Salt Lake City Council carved out a section of the Yalecrest area from the Historic Designation process on Tuesday nights meeting, see map. They also unanimously voted to restrict demolition of any home built after 1942 without the Historic Landmark Commission approval, even though the neighborhood is not designated as Historic yet, this is a temporary restriction that will expire September 10th of this year. The Council plans on new having demolition rules in place by then. The final vote on the Historic District will be January 15, 2011.
According to the Salt Lake Tribune “The neighborhoods still wrestling with preservation, from Harvard-Yale, Gilmer Park, Douglas Park, Normandie Heights and elsewhere, now have until Jan. 15 to petition the landmarks commission for some kind of protection - either as a conservation district or historic district”.
Tags: conservation district, Historic Homes, landmarks commission, Yalecrest
June home sales jumped from May from 3 under contracts to 10! Solds were 5, up one from 4 in May. There are 35 current listings, which gives us a 3.5 month supply of inventory, which technically makes Yalecrest a sellers market, but remember, prices have continued to come down, about 8.4% so far this year, which may have spurred sales. This could change next month, check back then to see if all 10 homes close.
Yalecrest Homes Under Contract July 2010
Yalecrest Homes SOLD July 2010
*Price on the left of chart is listing price, price on the right is sold price.
Yalecrest Absorption Chart
Tags: Homes for Sale, Market Conditions, Yalecrest
Last year I posted about this tear down at 1849 E Herbert. Today see the before and after pictures. It is a beautiful home… just wonder what you think?
Before
After
This home has gone from just under 2000 sq ft, to approximately 4500 sq ft. Do you think it is overbuilt for the lot? Does the architecture and finishes fit the neighborhood? Is this a good example of rebuilds for Yalecrest? If we change to the Historic Designation, this would not be allowed. Would this hamper the ability of this home to meet the new generation of homeowners? What would this home look like as an add-on to met the historic landmarks committee, would it be better than this new construction?
Chevron has creates a website to keep homeowners updated on the oils spill in Yalecrest. Chevron says:
On June 12, 2010, crude oil was discovered in Red Butte Creek in Salt Lake City County, Utah, that was found to have originated from a leak in a pipeline in Red Butte Canyon. A preliminary review indicates that an electrical arc created a less than 1-inch hole in the top of the pipe. As a result, approximately 800 barrels of crude oil were released, traveling down Red Butte Creek and collecting in Liberty Park Pond with some sheen escaping into the Jordan River. Chevron shut off the pipeline and took immediate steps to contain the spilled oil. As of June 20, approximately 610 barrels of oil have been recovered.
Chevron pledges to clean up the damage caused by the leak from our crude oil pipeline. Our primary concern has been and continues to be responding to this incident, containing the oil, minimizing the impact on the community and environment, and keeping people and wildlife safe. We wish to thank everyone who has assisted us in stopping the spill, minimizing its impact and saving wildlife.
This website contains additional details on the response effort, including frequently asked questions, the latest news and updates, and contact information.
Tags: chevron, crude oil pipeline, oil spill, red butte canyon, red butte creek
Councilman JT Martin has posted photos of the clean up efforts in Miller Park, the part of Red Butte Creek that runs through Yalecrest.
See more photos here>>>
Tags: jt martin, miller park, red butte creek
With the recent oil spill running through Red Butte Creek and our neighborhood, I won’t re-hash the latest news of the event, you can find info here and pictures here. I want to focus on an issue some have not addressed yet. What do you do if you are a homeowner, and your property abuts the creek? See map of affected properties.
Property Along Red Butte Creek
The first thing to do is to contact Chevron to have the affected areas abutting the creek cleaned up as soon as possible, DO NOT ATTEMPT TO DO THIS YOURSELF!! Oil is a hazardous and toxic substance and can negatively affect your health!
The second thing to do is to make sure your property is clean! I would negotiate with Chevron to have my property tested and deemed cleaned with a Phase II Environmental Site Assessment, once clean-up crews have finished. Your home could now have a environmental stigma attached to it, and this issue will most likely need to be disclosed to a potential buyer if and when you ever decide to sell. If you have this assessment, and it is clean, it will help in your negotiations.
Lastly, before signing any documents from Chevron or Salt Lake City, contact an attorney and environmental engineer to make sure you look at the long term consequences of this spill on your property’s value, and make sure you are compensated appropriately.
These are my opinions only, i am NOT an expert in environmental issues, oil spills, legal issues or property boundaries. Just because your property is located next to the creek, does not mean it is contaminated. Any links associated with this article are for informational purposes, I am not endorsing any company or the accuracy of the information contained therein. Do your own due diligence as it pertains to this indecent.
Tags: environmental stigma, phase ii, red butte creek, Yalecrest
May 2010 statistics for Yalecrest decreased by half compared to April sales. Properties under contract were 3 and those that closed were 4. Total inventory increased from 27 to 35. The market absorption and inventory numbers increased slightly as well.
UNDER CONTRACT HOMES
SOLD HOMES
MAY 2010 ABSORPTION RATE
Tags: Market Conditions, Statistics, Yalecrest
JT Martin is gathering information from those in the Yalecrest neighborhood about their opinion, in favor or against, the implementation of the Local Historic Designation for Yalecrest. Make sure your vote is counted, e-mail JT at jt.martin@slcgov.com. See the current tally below. Green means YES, Yellow means UNDECIDED, and Red means NO.
April was another robust month in Yalecrest for Real Estate sales. Out of the 27 listings currently available, 7 went under contract and 6 sold and closed. See below for a list of the houses and sold prices (click on image to make larger). For a list of the current inventory click here.
UNDER CONTRACT IN APRIL
SOLD IN APRIL
ABSORPTION RATE
As you can see by the absorption rate, Yalecrest has a 6.8 months supply of inventor,y if there were no new listings. A rule of thumb is that anything above 6 months of inventory is a Buyers market, anything below 6 months of inventory is a Sellers market. Yalecrest is currently in an equilibrium market.
Tags: absorption rate, equilibrium, Statistics
I am looking for some interested writers that would like to participate in adding content to this site. I think it would be great to have a variety of voices from the neighborhood. Topics could be about schools, church activities, special events, fundraisers, you name it, we can add it. If you don’t want to write, just send me the information and I will put something together. Just e-mail me your ideas.
Tags: Happinings, interested writers, Yalecrest
