House Porn

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Here it is, the end of on hell of a year. There’s so much commentary out there about what went wrong in the world and this country I don’t need to add my two cents worth to the negativity. Instead, how about we venture into some year end house porn and see what the highest sales in real estate this year were!

Per the Wasatch Front MLS, the highest sale in Utah was in January in Park City of a 14,595 sq. ft home with 7BR/11BA and a four car garage on 5.76 acres in the White Pine Canyon subdivision. At a cash sales price of $27,875,000 it topped all records of $1,909 per square foot. Amenities inside included a fitness room with a morning bar, pickleball/basketball court, wellness massage room and high end finishes like an Onyx slab entry door and shinnoki oak wall finishes, and outside a covered outdoor BBQ kitchen and dining space, heated outdoor pool and hot tub, fully heated decks, walkways and driveway. It was listed by Engle & Volkers and sold by Summit Sotheby’s.  There were two other estates in the same subdivision that sold this year: 15,078 sq. ft w/ 8 BR/10 BA for $25,787,514 (over list) by Berkshire Hathaway and another for $26,600,000  also with around 15,000 sq. ft, 5 BR, 8 BA listed by Berkshire Hathaway and sold by Engel & Volkers. The other highest sale was at Marcella at Deer Valley East Village for $18,400,000, with 8000 sq. ft, 6BR/9BA, listed by Berkshire Hathaway and sold by Summit Sotheby’s.

The most expensive home sale I could find in the country was a beachfront compound in Naples, Florida for $133 million. That area is an ultra-luxury market that has low property taxes and excellent privacy, and two properties (one on each side) also sold, making the hat trick of three sales for $225 million. The highest sale ever of a residential transaction that I could find was for a penthouse along Central Park in Manhattan for $238 million in 2019.

In Salt Lake County, a 11,438 sq. ft. home with 4BR/9BA just closed escrow this month for $11,100,000 in Olympus Cove. The buyer and seller were represented by Summit Sotheby’s. Washington County had a sale of $7,300,000 in Westgage Hills of a 9,000 square foot home with 5BR/8BA listed by ERA Brokers Consolidated. In Davis County the high sale’s price was $4,588,000 in Shepard Heights in Farmington with 10,363 sq. ft., 6BR/10 BA listed and sold by Summit Sotheby’s, and in Utah County a home sold for $10,365,000 in October in Old Orchard Estates, listed by Summit Sotheby’s and sold by Real Broker, LLC.

With one of the biggest concerns of 2025 being housing affordability, it looks like the rich aren’t suffering too much here in the state, but when the average Joe or Jane working 40 hours per week can’t afford a two bedroom home here or in the U.S., the market looks bleak for 2026.

Rare Earth

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When I was a tween I was fascinated by dendrochronology. Basically, I loved to count the tree rings on a log to determine the age of the tree and what the tree survived during its lifetime.  Unlike today’s helicopter parents, ours would push us out the door after breakfast and tell us to come home by dinner. My little brother and I were constantly digging around the neighborhood in the hopes of finding pirate treasure (albeit not living near an ocean). I also loved geology and archeology and enjoyed rock hunting.

Nowadays, all the world wide buzz is on rare earth minerals (REE’s), but I only recently learned what some were: cesium, halloysite, gallium, germanium, lanthanum, rubidium and yttrium are examples of the stuff and countries go to war over who has the resources of these minerals.  Apparently, you need these to create computer chips, magnets in electric vehicles, phosphors for your computer, TV and phone screens, fluorescent lights, MRI imaging, blue light in LCDs and energy-efficient light bulbs. If I wanted to go rock hunting I might find several of these inorganic materials right here in Utah, specifically about 20 miles south of the Utah County’s Silicon Slopes area.

Given that Trump has been threatening China on and off for with massive kinds of tariffs, China has threatened to cut off access to these natural occurring deposits of which they claim to have the worlds largest supplies within their borders. Local Utahns are wondering if they’ve hit proverbial gold if they can find REE’s in their back yards. For example, cesium sells for $2,600-3,000 per ounce, rubidium for $1,000 to $3,000 per ounce, germanium $150-200 an ounce, and yttrium for $60-70 an ounce.  Gold is now up to $4,400-$4,500 per ounce and silver has been rising and is now overing around $80 per ounce. Economy watchers have noticed as of late that China has been selling off its U.S. investments in things like U.S. Treasury Bills and investing in the silver and gold markets, trading dollars for metals. Both China and Japan have been the major investors in TBills along with Berkshire Hathaway (Warren Buffett’s company that began buying up the BH stock in the 1960’s).  That company’s stock is valued currently at around $750,000 per share, the highest price stock right now in the NYSE.

Washington County is famous for germanium production around the Apex Mine in the Beaver Dam Mountains but Utah County is now drawing investors and national attention in and around the Silicon Ridge mine at the southern end of Utah lake. The clay-like dirt around there holds 16 REE’s which could have an impact on the ever growing need for them in computing and AI technology. I’m a little too old to go prospecting these days but you can bet folks are wondering what money might be in their backyard dirt.

PROTECTING HISTORY

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Last summer the Salt Lake City Counsel enacted a legislative intent to explore available options for a street sign program that designates a recognized historic district in the city.  For example, if you live east on Laird Avenue, the street sign would said LAIRD AVE and either ‘local historic district’ or ‘local historic district/Yalecrest Neighborhood’. Salt Lake City has 14 historic districts, including The Avenues, Capitol Hill, Central City, South Temple, Yalecrest, and University, plus smaller local ones within Yalecrest (like Normandie Circle, Harvard Heights) and others like City Creek/Memory Grove, Exchange Place, Liberty Wells, and Fort Douglas.  We created this to preserve distinct architectural styles and historical development from the late 19th and early 20th centuries. These districts are designated by the City Council and/or are listed on the National Register of Historic Places.

As a volunteer Planning and Zoning Commissioner for eight years, I found that many home buyers had no clue that their home was in one of the 14 local historic districts. They would do things to their property that weren’t allowed under the protection rules for the districts, like putting up vinyl fencing, installing vinyl windows vs wood frame windows, painting exterior brick or masonry, etc. The point is to ensure compatibility with the homes’ historic character and the surrounding properties. After much discussion and meetings, we were able to require title companies to state on title reports that the property is in a historic district. Thus, no excuse for changing the exterior of the property and saying to enforcement officials “Oh, I didn’t know it was in a Historic District!”

Back in the 1960’s and ‘70s, homes in areas like The Avenues that were many decades old were being torn down like crazy. Locals stepped up and worked with City officials to create rules and regulations to protect these precious properties, much to the distaste of flippers who often wanted to opt for cheaper upgrades to a property rather than protect the exteriors.  FYI-you can basically do whatever you’d like inside your home if you live in a historic neighborhood, as it’s the exteriors we’re attempting to protect. I recall one public hearing for Historic Landmarks Commission (I’m now on my second term serving the City in Landmarks) where a property was flagged in Capitol Hill for having painted the brushed brick exterior.  The owners has recently purchased the home and thought it was lovely, but had no idea it was not in compliance with local ordinances. It was going to cost a fortune to remove the paint.

City Council has been asking for feedback, and eventually street signs in historic neighborhoods will soon advertise you’re in a precious area of our town. For a lookup map go to www.slc.gov/historic-preservation/historic-districts-and-buildings/local-historic-districts/

 

Park It!

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Salt Lake City has over 100 public parks, with the official city website listing various types… like regional, community, neighborhood, and mini-(or pocket) parks, totaling around 100+ green spaces. The city manages different park sizes, from large ones like Liberty Park (80 acres) to smaller neighborhood spots, and includes many amenities like playgrounds, fields, and trails.

The oldest park is of course, Liberty Park, created in 1881 when the City bought the land from Brigham Young’s estate for $27,000. In the early 1900’s the ‘City Beautiful’ movement emerged which called for “well-planned urban spaces that could improve the civic and moral character of their residents”. In the early 1900’s greenhouses were added to grow plants for the park, and then came the zoo, tennis courts, picnic areas, etc. The Chase Mill located in the middle of the park was given to the Daughters of Utah Pioneers as a ‘Relic Hall’ and in the 30’s the Aviary was build in the original Zoo area, followed then by a swimming pool, bathhouses and tennis courts on the west side of the park.

The biggest park in the City is Sugarhouse Park, which has massive history as a beet sugar processing plant, a state prison, with Highland High being built at the east part of the land, and now a popular green space for humans, dogs and ducks.

The City just completed an upgrade to the old Raging Waters/ Seven Peaks water park at 1375 W. 1700 South. The beloved 17-acres waterpark in the Glendale neighborhood was famous for having the first wave pool in the state (the ‘Wild Wave’), and was only the third such pool in the country.  There were water slides for littles and adults and picnic areas. In the summer they showed movies on a big outdoor screen where you could float and watch Jaws with your friends and family. It closed due to competition, broken equipment and vandalism in 2018. The cost to replace the pools and slides was $20mil but the City reached out to neighbors and found out that folks wanted a safe and welcoming gathering space, providing access to nature, recreational opportunities, improvement of natural resources, and connection the Jordan River to neighboring parks.

Phase One is officially open and offers an all abilities playground, basketball courts for kids and adults, walking paths, shaded canopies, a native wetland, open lawns, a food truck promenade for community events and 12 pickleball courts. This first phase meets the Sustainable SITES Initiative and is the first in the state to receive the designation of Gold. Further development plans for a skating ribbon and rink, public art, sledding hills, interactive water features, a skatepark, pump track, event stage, boardwalks and a kayak/canoe launching area. The second phase will be complete in 2028, but drive by now…it’s already a popular place for Glendale folks and the rest of us to play!