Skip to content
Help support CapRadio’s local public service mission 
and enrich the lives in your community.
Support local nonprofit public media.
Donate Now

View thank you gift options

CapRadio

CapRadio

listen live donate
listen live donate
listen live
donate
  • News
    • News

    • State Government
    • Environment
    • Health Care
    • Race and Equity
    • Business
    • Arts and Lifestyle
    • Food and Sustainability
    • PolitiFact California
    News
    • News

    • State Government
    • Environment
    • Health Care
    • Race and Equity
    • Business
    • Arts and Lifestyle
    • Food and Sustainability
    • PolitiFact California
  • Music
    • Music

    • Classical
    • Jazz
    • Eclectic

    • Daily Playlist
    Music
    • Music

    • Classical
    • Jazz
    • Eclectic

    • Daily Playlist
  • Podcasts & Shows
  • Schedules
  • Events
  • Support
    • Support
    • Ways to support
    • Evergreen Donation
    • One-Time Donation
    • Corporate Sponsorship
    • Vehicle Donation
    • Stock Giving
    • Legacy Giving
    • Endowment Support
    • Members
    • Member Benefits
    • Member FAQ
    • Member Newsletter

    • Fund drives
    • Drawing Winners
    • Thank You Gifts
    Support
    • Support
    • Ways to support
    • Evergreen Donation
    • One-Time Donation
    • Corporate Sponsorship
    • Vehicle Donation
    • Stock Giving
    • Legacy Giving
    • Endowment Support
    • Members
    • Member Benefits
    • Member FAQ
    • Member Newsletter

    • Fund drives
    • Drawing Winners
    • Thank You Gifts
  • About
  • Close Menu
 We Get Support From:
Become a Supporter 
 We Get Support From:
Become a Supporter 

Investors Buying More Home Foreclosures As Inventory Declines

  •  Steve Milne 
Thursday, July 20, 2017 | Sacramento, CA
Listen
/
Update RequiredTo play audio, update browser or Flash plugin.
DJ Crazy Gabe / Flickr
 

DJ Crazy Gabe / Flickr

There's more bad news for people trying to buy their first home in the Sacramento area. The inventory of foreclosures—which are typically discounted—continues to decline. And more investors are buying up properties.

About 2,200 properties received foreclosure filings in the Sacramento area during the first half of 2017. That was down 35 percent from a year ago. And it was a 48 percent drop from two years ago.

In June, 434 properties received foreclosure filings. That was down 41 percent from a year ago. In fact, June was the 23rd consecutive month of year-over-year foreclosure activity decreases in the Sacramento area.

"This is a sign that even the most distressed part of the market, there's very little inventory available and that doesn't bode well if you're trying to get your foot in the door," says Daren Blomquist with research firm ATTOM Data Solutions. 

"Foreclosures are low but interest in buying foreclosures is strengthening and getting hotter and we see that in Sacramento," says Blomquist.

He says 36 percent of the properties that went to foreclosure auction between January and June were sold to investors.

"And that may not sound like a lot, but that's a high percentage, says Blomquist. "We typically see more like 20 percent or less. It's a risky place to buy—you have to buy with all cash and you're not able to inspect the property beforehand."

The data show property investors are swooping into Reno, buying up homes lost to foreclosure at public auctions. 

"It was the highest market in the country with 81 percent of the properties that went to the foreclosure auction selling to third-party buyers," says Blomquist. Nationwide, only 38 percent of foreclosures went to third-party buyers...or investors.

"That speaks to the Reno market being really on fire when it comes to the housing market," says Blomquist. "Not a lot of inventory available for sale, people are looking for bargains, and one way to get a bargain is to go to the foreclosure auction."


Follow us for more stories like this

CapRadio provides a trusted source of news because of you.  As a nonprofit organization, donations from people like you sustain the journalism that allows us to discover stories that are important to our audience. If you believe in what we do and support our mission, please donate today.

Donate Today  

    More about housing

  • Andrew Nixon / Capital Public Radio

    Housing

    CapRadio's coverage of California housing issues in the Sacramento region and throughout the state.

    Related Resources

  • 0720SM_HOMES1 (mp3)

 housingeconomyreal estaterealtytrac

Steve Milne

Morning Edition Anchor & Reporter

Steve is the Morning Edition anchor for Capital Public Radio. He covers stories on a wide range of topics including: business, education, real estate, agriculture and music.  Read Full Bio 

Sign up for ReCap and never miss the top stories

Delivered to your inbox every Friday.

 

Check out a sample ReCap newsletter.

Thanks for subscribing!

Thank you for signing up for the ReCap newsletter! We'll send you an email each Friday with the top stories from CapRadio.

Browse all newsletters

More Stories

Andrew Nixon / CapRadio

Wildfire victims left ‘in the dark’ after U.S. Forest Service briefs Congress about the Caldor Fire

March 20, 2023

Kristin Lam / CapRadio

Sacramento guaranteed income program opens applications for second round of participants

March 20, 2023

Humboldt County Sheriff's Office

In the northern California snow, stranded cows are getting emergency hay drops

March 15, 2023

Most Viewed

Sacramento guaranteed income program opens applications for second round of participants

California could be the first state in the country to ban some much debated food additives

Wildfire victims left ‘in the dark’ after U.S. Forest Service briefs Congress about the Caldor Fire

10 new California laws that go into effect in 2023

Rain, snow and wind are returning to Northern California. In Sacramento, impacts expected to be milder than recent storms

We Get Support From:
Become a Supporter

Most Viewed

Sacramento guaranteed income program opens applications for second round of participants

California could be the first state in the country to ban some much debated food additives

Wildfire victims left ‘in the dark’ after U.S. Forest Service briefs Congress about the Caldor Fire

10 new California laws that go into effect in 2023

Rain, snow and wind are returning to Northern California. In Sacramento, impacts expected to be milder than recent storms

Back to Top

  • CapRadio

    7055 Folsom Boulevard
    Sacramento, CA 95826-2625

    •  
      (916) 278-8900
    •  
      (877) 480-5900
    •  Contact / Feedback
    •  Submit a Tip / Story Idea
  • About

    • Mission / Vision / Core Values
    • Stations & Coverage Map
    • Careers & Internships
    • Staff Directory
    • Board of Directors
    • Press
  • Listening Options

    • Mobile Apps
    • Smart Speakers
    • Podcasts & Shows
    • On-Air Schedules
    • Daily Playlist
    • Signal Status
  • Connect

    •  Facebook
    •  Twitter
    •  Instagram
    •  YouTube
  • Donate

  • Listen Live

  • Newsletters

CapRadio stations are licensed to California State University, Sacramento. © 2023, Capital Public Radio. All Rights Reserved. Privacy Policy | Website Feedback FCC Public Files: KXJZ KKTO KUOP KQNC KXPR KXSR KXJS. For assistance accessing our public files, please call 916-278-8900 or email us.