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Investors buy seven properties at foreclosure auction

Thu, Jan 19, 2012

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Investors bought seven of the 35 properties that sold at the El Paso County Public Trustee’s foreclosure auction on Wednesday. The rest sold back to the lenders.

All In Investments bought a 2,103-square foot, two-story home at 16955 Park Trail Drive in Monument for $221,257. That was just $50 over the initial bid made by lender Suntrust Mortgage. Michael Ginnett borrowed $307,998 to purchase the 2005 property in February of 2009. The El Paso County Assessor lists the market value of the home at $271,883.

SFR Homes paid $64,500 for a 1,272-square foot split-level home at 4213 Dawnlite Drive (80916). That was higher than lender U.S. National Bank Association’s initial bid of $52,000. The 1983 property is valued at $125,472, according to the assessor’s records. Michelle and Anthony Tucker borrowed $124,800 to buy the property in February of 2007.

Krumanocker-1 paid $85,000 for a 1,127-square-foot tri-level home at 5755 Tuckerman Dr. (80918). That was well over lender Navy Federal Credit Union’s initial bid of $56,008.82. Jose and Gwen Tavera borrowed $92,000 to buy the 1975 home in July of 2006. The county assessor lists the market value of the property as $158,985.

Sparrow Inc. paid $76,000 for a 1,488-square foot bi-level home at 4202 Dawnlite Dr. (80916). That was almost twice lender PNC Bank’s initial bid of $34,347.78. Oliver Nagadelia borrowed $50,700 to buy the home in December of 2002. The assessor values it at $127,980.

Ed and Don Klein paid $94,500 for a 1,668-square foot bi-level home at 1710 Doherty Rd. (80916). That was well over lender CitiFinancial’s initial bid of $75,726.40. Anna and James Lambert borrowed $120,061.40 to buy the property in September of 2004. The assessor values it at $127,600.

Bath Carol paid $245,000 for a 2,682-square foot two-story home at 3625 Falco Ct. (80920). That was well over lender Bank of America’s initial bid of $231,300. Tokuo Ishizuki borrowed $241,600 to buy the property in October of 2006. The assessor values the property at $279,608.

Old West Land Company paid $183,500 for a single-family residence on a 6,029-square foot lot at 7309 Grand Prairie Dr. (80918). That was well over lender Bank of America’s initial bid of $164,039.24. David and Stephanie Sarton borrowed $163.276 to buy the home in July of 2002. The assessor values it at $221,751.

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