Twin Pines | The Hutton Group

Client: Twin Pines
Date Converted: 2014
Location: California

Property Information

Location	Santa Clara, California
Number of Units	80
Year Converted to Condo	2014

Before Conversion

As a Co-op

After Conversion

As a Condo

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 un-competitive 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, 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 .

Results from the Conversion of Glenview Condos

Value as a Cooperative	$230,000
Condominium Values after Conversion	$445,000
Net Increase in Wealth (Equity)	*$215,000*

PDF of Case Study: Twin Pines Case Study

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