Rivermark Townhome Short Sale

In order remove the notice the owner must make the home current and pay back the mortgage owed.

Newer developments have seen a higher rate of defaults due to the recent sales within the last 5 years of these homes. Home owners are unable to refinance their properties since many owe more than the current market values.

In Rivermark alone there are several short sales and 11 homes that have notices of defaults filed and 7 condo’s in the Miraval Complex. Many of these Rivermark home owners have already engaged in trying to sell their home as a short sale. Others may be attempting to renegotiate with their banks to stay in their houses, others perhaps bracing for foreclosure.

When confronted with this reality the homeowner needs to contact their bank and try to work out a resolution. This is where your persistence will pay off. Lenders seldom give any concessions to anyone let alone a debtor, but if you are persistent and can show hardship and willingness and ability to pay you should be able to modify your loan.

The other avenue is to sell your home short. The process is similar. The bank wants to know your financial situation before it can agree to any deficiency sale. Essentially you have to prove you can no longer afford your home or that you are forced to sell due to relocation or some other factor.

Both of these options have become more viable to home owners, so their is no reason why homeowners should be foreclosing these days.

Rivermark Townhome Short Sale

Rivermark is a master planned community developed in 2002 by Lennar, Centex and Shea Homes encompassing over a 1500 single family and town home units. Also around the Rivermark development is the Miraval Homes Luxury condo development and Mission Gardens single family homes, townhomes, and condo’s.

Many of these units have resold in the last few years since their initial releases, leaving some home owners at peak prices resulting in short sales and no opportunity to refinance.

Currently in the Santa Clara Rivermark location there are 14 condo short sales and 1 bank owned condo. There are no single family short sales or REOs at the moment.

Miraval Condo

A good portion of these short sales are in the Miraval Condominium Complex. Miraval is a Luxury condo complex providing nicely appointed units with great amenities in the complex. Currently there are 5 short sale units for sale in Miraval. One bedroom units starting at $280K and 2 bedroom units at $400K.

As for the Rivermark development currently there are only townhomes availables. Which says alot about Rivermark and the fact that the single family home values have not been hit too hard. Many times buyers offten ask what is a better investment a townhome or a single family home. As you can see single family homes rarer in Rivermark have held up very well so var with all the market pressures.

For a list of active short sales and bank owned properties in the Santa Clara Rivermark area follow the link below.

Rivermark Short Sale Townhomes