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Investors buy six properties at foreclosure auction

Thu, Sep 29, 2011

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Investors bought six of the 32 homes that sold at the El Paso County Public Trustee’s foreclosure auction on Wednesday, Sept. 28. The rest sold back to the lender.

Kemper properties LLC purchased a home at 2783 Brooksedge View (80910) for $75,200. That was just $50 over the lender’s initial bid. The market value for the 1,292-square foot townhome is $124,467, according to El Paso County Assessor’s records. Michael Mead borrowed $113,462 to purchase the home in 2005.

Gene Melssen bought a house at 8035 Candleflower Circle (80920) for $131,500, more than $20,000 over the lender’s initial bid. The El Paso County Assessor lists the market value of the 1,342-square foot ranch at $205,920. David and Denise Bosco financed $157,000 to purchase the home in 2003.

All In Investments LLC purchased a home 7245 Metropolitan Street (80911) for $84,655, just $50 over the lender’s initial bid on the property. In 2001, Brian and Karen Marshall borrowed $121,500 to purchase the 1,713-square foot bi-level home built in 1972. The assessor lists the market value of the property at $118,304.

Donald Larocca bought a property at 7703 Tompkins Road in Falcon (80831) for $154,602, $50 over the lender’s initial bid. Jason Butterfield and Shanna Clark borrowed $157,158 to buy the house in 2003. The 1,295-square foot ranch built in 2003 is valued at $180,149 by the county assessor’s office.

Single Track Properties LLC purchased a home at 3021 De Cortez Street (80909) for $85,395.18, just $50 over the lender’s initial bid. Timothy Keck borrowed $193,922 to buy the house in 2007. The assessor lists the market value of the 1,830-square foot bi-level house at $146,300.

Rimwood LLC bought a house at 3658 Brentwood Terrace (80910) for $68,000, $8,000 over the lender’s initial bid. Laurence and Diane Noll borrowed $161,500 to buy the home in 2006. The El Paso County assessor lists the market value of the 1,040-square foot ranch at $135,762.

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