Is now a good time to buy in Rivermark?

River Terrace Apartments

Where is Rivermark

Rivermark is a master planned community located in Santa Clara, California.  It is renowned for its convenient location close to major employers such as Cisco, Intel Semiconductor, Marvell and Yahoo, as well as the attractive life style and amenities.

The Rivermark area is loosely defined as the area between Montague Expressway, Lafayette St., Hope Dr., and the Guadalupe River. However, the official Rivermark of Santa Clara development is better defined as a sum of the parts, such as the Rivermark retail center, and the housing developments including The Arbors by Centex, The Park by Centex, The Promenade by Lennar, The Greens by Lennar, The Landings by Shea, and The Glen by Shea. Developments not included in the Rivermark of Santa Clara development, but included in the loosely defined area above include Mission Gardens, Miraval, and 550 Moreland.

 At one point, the largest town homes were selling for over $920,000. Obviously, after the financial crisis of 2008 and 2009, the market had been adjusted to the new reality. 

Market Trend

We have seen the low point of the market where the townhouses were selling in low to mid $600,000 at the beginning of this year.  However, since the economy and the high-technology industry are slowly making a recovery, we are seeing the price have rebound.  Currently, there are 4 townhouses for sale.  Their asking prices are ranging between $670,000 and $689,000.  And the lowest price one is the $670,000 on Kelley Way being a short sale property that has been on the market for over a year.  There are two pending sales, one for $689,000 and the other one $699,000.  The two recent sold properties were $690,000 and $700,000, respectively.  Last weekend, I drove through the neighborhood and saw a dozen open house signs.  Apparently there were a lot of interests and activities in the market for these homes. 

Here is a summary of the current list of homes and their list-and-sold price.  DOM represents “days on the market”, it is an important gauge of the market velocity.  (Please note: * represent short sales, not a regular sale)

Status Address Bedroom, Bath DOM List Price
Active 4454 Lick Mill Bl 3 bed 2.5 bath, 1716 sq ft 99 $689,500
Active 4059 Crandall Cl 3 bed 2.5 bath, 1716 sq ft 8 $685,000 *
Active 1235 Kelley Way 3 bed 2.5 bath, 1716 sq ft 6 $675,000
Active 1220 Kelley Way 3 bed 2.5 bath, 1716 sq ft 447 $670,000 *
         
Pending 4404 Headen Way 3 bed 2.5 bath, 1716 sq ft 43 $699,950
Pending 4380 Rivermark Pkwy 3 bed 2.5 bath, 1716 sq ft 6 $689,000
Pending 4497 Laird Cl 3 bed 2.5 bath, 1588 sq ft 86 $579,900 *
        Sold Price
Sold 4090 Crandall Cl 3 bed 2.5 bath, 1716 sq ft 7 $700,000
Sold 4035 Crandall Cl 3 bed 2.5 bath, 1716 sq ft 11 $690,000
Sold 837 Transill Cl 3 bed 2.5 bath, 1588 sq ft 3 $646,000
Sold 4445 Lick Mill Bl 3 bed 2.5 bath, 1700 sq ft 8 $625,000 *
         

   Look for a exceptional lifestyle, not just a home

The best part about Rivermark is its lifestyle.  With over 138,000 sq ft of retail spaces, the “Village” has many exceptional restaurants as well as casual outdoor cafes including:  Piatti restaurant, Baja Fresh, Coldstone, Posh Bagel and Peet’s Café and Teas, to just name a few.  During lunch and dinner time, it is often difficult to find parking.  The local school Don Callejon serves grades k-8 and has an API score over 840.  There are many small parks and playgrounds throughout the area for the kids to enjoy.  There is also an outdoor swimming pool serving the community.  It is a very safe and quiet neighborhood where many of the residents enjoy leisurely walks during the morning or late afternoon hours. 

If you are looking for an exceptional value in the Silicon Valley, take a look at Rivermark.  It pays to visit one of the restaurants and take a walk in the area and then talk to a local specialist about what is happening in the market.  What you will find will pleasantly surprise you.

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10 thoughts on “Is now a good time to buy in Rivermark?”

  1. I totally agree. That is exactly how I see it. Thanks!

  2. That’s great. I’m from Anchorage and see the same attitude. Anyway, I’m gonna back before too long.

  3. Interesting stuff, but the theme don’t display properly on my Mac…maybe you could take a look. Thanks, anyway.

  4. All certainly true, but I don’t support what you say myself. I will go along with the more regular view. But I certainly support your right to say what you want. Interesting anyway.

  5. That is almost the best essay i have ever seen, clear idea and expression, i have to say i am very much adore you now, may be some day i will imitate your articel style, lol.

  6. Great read! I want you to follow up on this topic!?!

    My Regards,
    Luther

  7. Great read! You should definitely follow up to this topic :)

    Tracey

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  10. The status quo sucks.

    Sent via Blackberry

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