By Jim Wasserman
I just got the Sacramento Association of Realtors January stats - where the stats say investors paying cash snapped up 26.7 percent of homes in Sacramento County and the city of West Sacramento. That's a story we aim to do for Friday or Saturday's paper. I am looking for your help.
I checked out cash-buy stats for the past year - and learned that it's been the way for more than a year: cash buyers always trumping first-time buyers. No wonder all the frustration among first-time buyers who say they are constantly outbid by investors buying cash.
Local market watchers say about two-thirds of these investors are from the Bay Area.
So somebody in this downturn sure has money. I'd like to talk with anyone associated with this phenomenon - cash-paying investor, Bay Area investor, first-time buyer still getting outbid. What's the story here? I am 916-321-1102 or email@example.com.
In meantime here are a couple links I found a couple media accounts in the Bay Area about investors there looking inland to buy our cheap houses.
Here's one from the San Jose Mercury News about their preference for Sacramento. Here's another TV report from the CBS Channel 5 affiliate in S.F. about money pouring inland to the Central Valley.