Twin Pines Condominiums
80-unit 835 Pomeroy Ave. Santa Clara conversion
80
Total Units
Significant
Value Increase
N/A
Year Converted
CA
State
Property Details
Unit Types
N/A
The Transformation
From Challenges to Success
Before Conversion
The Challenges
Unit values were very low compared to similar condos in the area even though the community had gone from limited-equity to market-rate co-ops years back.
As a Co-op, owners had only one choice for la lender to provide financing with uncompetitive terms which stifled unit sales, limited refinancing options and kept unit values depressed.
Units as co-ops were being foreclosed due to low values and lack of financing
After Conversion
The Results
After conversion, all units in the community received unit deeds as unrestricted condos and unit sales soared immediately with prices nearly doubling.
Hutton was able to secure Fannie Mae approval and members can now refinance or sell/buy their units from thousands of lender options with the best terms.
After conversion, unit values nearly doubled and financing is abundantly available.
Financial Impact
Financial Impact
Results shown are from a representative unit. Individual results vary by unit size and condition.
Property Location
Twin Pines Condominiums
835 Pomeroy Ave. Santa Clara, CA 95051
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