RSS

Investors buy 2 foreclosures at auction

Thu, Jan 12, 2012

News

Investors bought two of the 39 properties that sold in the El Paso County Public Trustee’s foreclosure auction on Wednesday.

Charles Waldron paid $136,000 for a 2,000-square foot bi-level home built in 1973 at 1154 Tulip Place (80907). The bid was well over Wells Fargo Bank’s initial bid of $108,627.84. The previous owner, Douglas Croastan, borrowed $134,100 on the home in 2003. The El Paso County Assessor lists the market value of the house at $179,248.

Buyer’s Equity paid $84,150 for a home at 435 Avenida Del Cielo in Fountain. The 1,972-square foot bi-level home built in 1972 is valued at $145,760 on the El Paso County Assessor’s records. Buyer’s Equity paid well over Deutch Bank’s initial bid of $81,000. Previous owner, Bryan Terhune, paid $147,000 for the property when he bought it in March of 2006, according to assessor’s records.

The 37 properties that third-party investors did not buy, were sold back to the lenders.

, ,

Comments are closed.