Salt Lake City, UT Real Estate News

By Keith Jeppson - Salt Lake City Real Estate
(Everest Realty Group)
 An unprecedented band of business leaders came together in Salt Lake City to formally unveil their collaborative vision for Utah's capital city labeled Downtown Rising.  The packed unveiling at the Salt Lake Marriott was enthusiastically received.  The plan is in itself a revitalization of the "Second Century Plan" created by a similar alliance in 1962.  That plan was the catalyst for development of many of today's landmarks such as the Salt Place Convention Center, farmers market, Main Street Plaza, the restored City and County Building and the downtown Federal Building.  Though there were several key projects not completed in this plan, I believe it is the overall success of the 1962 plan that will instill the drive and the passion necessary to make "Downtown Rising" an example of ho...
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By Keith Jeppson - Salt Lake City Real Estate
(Everest Realty Group)
So who will pay for the new water lines and fire hydrants in Millcreek?Salt Lake County created a tax assessment in 2006 for new water lines, fire hydrants, and some other appurtenances.  I don't know what the "other appurtenances" are yet?  The new lines will generally benefit homes in the area  of Millcreek from 700 East to 2700 East and from 2700 South to 3900 South.  Each home within that area will be tagged with a tax assessment of $1,961.68.  Home owners can be pay in one payment or in 10 equal "annual" installments of $242.19.So the question relating to home sales is, who pays the assessment if the home sales in 2007 - 2017?  The answer: who ever the buyer and seller decide.  It is simply part of the negotiation.  The problem is many real estate agents gloss over the preliminary ...
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By Keith Jeppson - Salt Lake City Real Estate
(Everest Realty Group)
Salt Lake City has had some pretty good press lately about our residential real estate market and overall economy. Most recently Fortune engaged Moody's Economy.com and Fiserv Lending Solutions to look into their crystal ball and tell us which housing markets will be winners in the near future. Their outlook is as expected with 37 of the biggest markets expecting price declines. The good news is that more than half (63) the 100 largest metropolitan markets are expected to increase in 2007. Salt Lake City ranked 4th with an expected home price increase of 5.4% in 2007 and 1.9% in 2008. The only markets that topped Salt Lake are McAllen-Mission, TX, El Paso, TX and Albuquerque, NM. Not surprisingly, areas hardest hit in the forecast are those that had the greatest increases in the housing...
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By Keith Jeppson - Salt Lake City Real Estate
(Everest Realty Group)
At a work session on 3/20/07, the Salt Lake City Council heard a briefing from the planning commission on an amendment to what landscaping is allowed in Salt Lake City residential districts. The current zoning allows trees, grass, and shrubs lower than 12 inches high.Now that we're out of the drought, the city is responding to residents concerns about water conservation and their desire to landscape with more drought tolerant vegetation. That's a good thing, but a little behind the curve?The stated purpose of the amendment is to "foster aesthetically pleasing development which will protect and preserve the appearance, character, health, safety and welfare of the community.The new amendment will require that at least 33% of the yard be devoted to vegetation which could include:Turf grass...
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By Terrilee Fitz
(Bond Real Estate)
The grid pattern of Salt Lake City was created by Joseph Smith, the founder of The Church of Jesus Christ of Latter-day Saints, when he planned the layout of the town. Smith's original vision for Salt Lake City included 10-acre square lots that would provide plenty of room for a family to spread out and plant a large garden. While the lack of zoning laws in the early 1900s resulted in Smith's vision being corrupted by 2.5 acre lots in The Avenues, the grandeur of large city lots is still appreciated and enjoyed by many of today's residents.Salt Lake City is divided into two regions by Interstate 15. The western portion of the city has historically been known as the less desirable portion but is experiencing a phenomenal amount of interest and growth. In fact, many neighborhoods such as ...
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