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Investors buy 4 properties at auction

Thu, Mar 15, 2012

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Investors bought four of the 35 properties that sold at the El Paso County Public Trustee’s foreclosure sale on Wednesday, March 15. The rest sold to the initial lenders.

The Buy-out Company LLP purchased a 2,080-square foot bi-level home built in 1995 at 104 Comanche Ct. in Fountain (80817) for $93,000. That was much higher than lender Chase Home Finance’s initial bid of $58,252.12. Kenneth and Faith Bowman borrowed $98,500 on the home in September of 2004. The El Paso County Assessor estimates the value of the home at $142,404.

Blue Fin LLC purchase a 1,584-square foot two-story home built in 1981 at 3805 Red Cedar Dr. (80906) for $132,000. That was slightly higher than lender Wells Fargo Bank’s initial bid of $131,750. The Red Cedar Drive Land Trust, for whom the registered agent is listed on as Myrna Bennett, borrowed $152,000 on the property in November of 2004. The El Paso County Assessor estimates the value of the home at $140,499.

Sparrow Inc. bought a 1,862-square foot two-story home built in 1996 at 3145 Boot Hill Dr. (80921) for $179,000. That was significantly higher than lender Wells Fargo Bank’s initial bid of $118,734.69. Michael and Tammy Padilla borrowed $135,050 on the property in January of 1997. The El Paso County Public Trustee estimates the market value of the home at $195,494.

J.O.H LLC purchased a 936-square foot ranch home built in 1956 at 132 Hayes Dr. (80911) for $64,000. That was well over lender Wells Fargo Bank’s initial bid of $57,285. Jeffrey McDow borrowed $116,325 on the home in March of 2005. The El Paso County Assessor estimates the market value at $121,734.

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