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”.

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

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?

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.

See more photos here>>>

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.

UNDER CONTRACT HOMES

SOLD HOMES

MAY 2010 ABSORPTION RATE

]]> http://www.yalecrestliving.com/?feed=rss2&p=692 http://www.yalecrestliving.com/?p=684 http://www.yalecrestliving.com/?p=684#comments Wed, 05 May 2010 03:53:32 +0000 Marvin Jensen http://www.yalecrestliving.com/?p=684 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.

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.