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Investors buy 7 properties at foreclosure auction

Wed, Feb 29, 2012

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Investors bought seven of the 33 properties that sold in the El Paso County Public Trustee’s foreclosure auction on Wednesday, Feb. 22. The rest sold back to the lenders.

Ed Klein and Don Klein paid $145,500 for a 1,309-square-foot ranch home built in 1996 at 1611 Canoe Creek Dr. (80906). That was well over lender Bank of America’s initial bid of $130,905. Ronald and Nina Rivera borrowed $157,500 on the home in January of 2003. The El Paso County Assessor estimates the current market value of the home at $172,374.

Shire Properties, LLC. paid $176,000 for a 1,771-square foot 1.5-story home built in 1899 at 330 E. Monument St. (80903). That was well over lender US Bank’s initial bid of $158,525. Sean Patrick and Jennifer O’Day borrowed $236,000 on the home in February of 2006. The El Paso County Assessor lists the current estimated market value at $298,422.

Ion Investments paid $146,000 for a 1,299-square foot split-level home built in 1976 at 5210 Picket Drive (80918). That was well over lender Deutche Bank’s initial bid of $114,750. Gregory and Megan Chen borrowed$173,379 on the home in March of 2006. The El Paso County Assessor estimates the market value at $176,054.

MAC Marketing and Consulting, LLC paid $100,000 for a 980-square foot ranch home built in 1959 at 2015 Patrician Way (80909). That was slightly over lender HSBC Mortgage Services’ initial bid of $92,966.96. John and Julie Lawler borrowed $200,000 on the home in January of 2007. The assessor estimates the market value at $155,474.

The Buy-Out Company LLLP paid $89,000 for a 968 split-level home built in 1984 at 4517 Sunnyhill Dr. (80916). That was a little more than $9,000 over lender ENT Federal Credit Union’s initial bid of $79,961. John and Betty Gray borrowed $93,023 on the property in September of 1998. The assessor estimates the value of the home at $130,772.

Rimwood LLC paid $94,000 for a 1,040-square foot split-level house at 6865 Omaha Blvd. (80915). That was well over lender Wells Fargo’s initial bid of $76,202.30. Gabriel Sanchez borrowed $170,389 on the home in December of 2007. The assessor estimates the market value of the home at $143,780.

John Robert Maytag paid $398,029.89 for a 2,338-square foot two-story home built in 1997 at 5990 Farthing Dr. (80906). That’s just over lender Bank of America’s initial bid of $397,979.89. Phillip and Teresa Yannias borrowed $356,000 on the home in June of 2007. The assessor estimates the market value at $342,428.

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