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Investors bought two of 45 homes in foreclosure auction

Thu, Sep 1, 2011

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Investors bought two of the 45 properties that sold at Wednesday’s El Paso County Trustee’s foreclosure auction. The other 43 returned to the lenders.

A home at 5069 Nolte Drive North (80916) sold to A New Design Living for $95,050. That was slightly over lender Deutsche Bank National Trust Company’s initial bid of $93,750. The final purchase price left a loan deficiency of $52,918.75.

Former owner Jerry Martinez paid $94,000 for the property in 1997. But the 1,193-square-foot bi-level home was not constructed until 2009, according to the El Paso County Assessor’s records. The assessor values the home at $102,084.

The second home that sold at auction was a home at 15175 Thornbird Court (80921). It sold for just $50 more than the initial bid made by lender U.S. Bank National Corporation at $240,050. The sales amount left a $159,667.46 loan deficiency.

Karen and Ken Heldt originally purchased the 2,532-square-foot two-story home built in 1989 for $160,350 in 1989. The El Paso County Assessor lists the market value of the home at $284,237.

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