I was talking to a reporter a few days ago about the impact of hedge funds in Placer County. She was asking me if I thought hedge funds have been making a significant impact in Placer County like they have in Sacramento. Take a look at some fresh stats below and let me know how you’d answer her question.
In short, so far hedge funds don’t seem to be digging deep roots in Placer County like they have in Sacramento County. While the overall percentage of cash buyers has definitely increased in 2012 under $200,000, there hasn’t been a huge surge of purchases by one group in particular. In fact, according to Tax Records, THR California LLC (Blackstone) has purchased less than ten properties on MLS in Placer County as opposed to multiple hundreds in Sacramento County (NOTE: These are only MLS sales. They may very well have other non-MLS purchases). There are of course other hedge funds buying in the market beyond Blackstone, but none have surfaced to the same degree (yet). In 2013 I suspect more hedge funds will become household names in the local media and real estate community.
Question: Why do you think Sacramento County has been on the radar of investors much more than Placer County?
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