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Two properties sell at foreclosure auction

Wed, Jun 29, 2011

News

Only two properties sold at the El Paso County Public Trustees weekly foreclosure auction today.

There were 54 properties listed on the pre-sale list and about five sales that were postponed.

The two properties that sold included a home at 1449 East Madison St, Colorado Springs, Co 80907. The lender, Deutsche Bank National Trust Company, placed an initial bid of $100,501.13 on the property. It ultimately sold to investors Jack M. and Heather A. Wood for $135,000. The El Paso County Assessor’s office lists the 2011 market value of the home over $168,000.

The other foreclosed property that sold was a home at 1345 Doyle Place, Colorado Springs, CO 80915. The lender, Citi Bank, set the minimum bid at $85,503 and the home sold to investor Field of Dreams LLC. for $97,500. The assessor’s office lists the 2011 market value of the home over $150,000.

Among the properties that did not sell at the auction and were officially turned over to their lenders was an office building off of Powers Boulevard. The Powers Professional Campus sold back to creditor Powers Professional Holding at an initial bid of almost $3.8 million, which is more than $1 million less than what the borrower owed.

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