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Investors buy 8 properties at foreclosure auction

Thu, Apr 5, 2012

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Investors bought eight of the 40 properties that sold at the El Paso County Public Trustee’s foreclosure sale on Wednesday, April 4. The rest of the properties were returned to the lender.

MAC Marketing and Consulting paid $115,000 for a four-plex at 6609 Provincial Dr. in Fountain (80817). That was well over lender Bank of New York Mellon’s initial bid of $94,500. Zhirair Ovsepyan borrowed $213,750 on the property in September of 2005. The El Paso County Assessor estimates the value of the property at $178,500.

Compass Capital Holdings paid $127,000 for a 1,683-square-foot two-story house at 108 Yearling Ct. in Fountain (80817). That was well over lender Colorado Housing and Finance Authority’s initial bid of $108,4000. Todd Keenan borrowed $173,655 on the property in March of 2010. The El Paso County Assessor estimates the market value of the property at $162,723.

Old West Land Co. paid $120,050 for a 1,284-square-foot condominium built in 1997 at 1749 Courtyard Heights (80906). That was just $50 over lender JPMorgan Chase Bank’s initial bid. Douglas McNinch borrowed $152,500 on the property in January of 2007. The El Paso County Assessor estimates the market value at $152,858.

John K. Davis and Yolanda M. Smith paid $68,000 for a 963-square-foot tri-level home built in 1975 at 4301 Axtell St. (80906). That was slightly over lender Bank of America’s initial bid of $62,572.30. Daniel Richmond borrowed $135,000 on the property in November of 2007. The assessor estimates the market value of the home at $109,314.

Mark Flesia paid $175,000 for a 1,755-square-foot two-story home built in 1995 at 7049 Stockwell Dr. (80922). That was slightly over lender Wells Fargo’s initial bid of $170,972.20. Liuber A. Gonzalez borrowed $250,925 on the property in November of 2007. The El Paso County Assessor estimates the market value of the home at $225,372.

Investor 4TMW paid $150,000 for a single-family residence at 3170 Westcliff Dr. (80906). That was well over lender Bank of America’s initial bid of $137,600. Peter and Andrea Wurzer borrowed $231,800 on the property in May of 2007. The El Paso County Assessor estimates the home is worth $205,282.

Ho Investments paid $75,850 for a 1,582-square-foot ranch home built in 1955 at 430 Ponderosa Dr. (80911). That was slightly more than lender Onewest Bank’s initial bid of $72,000. Howard Martin Hills borrowed $234,000 on the property May of 2006. The El Paso County Assessor estimates the market value of the property at $122,830.

Peak Side Enterprises paid $72,000 for a 1,337-square-foot ranch home built in 1955 at 213 Grand Ave. (80911). That was more than double lender U.S. Bank’s initial bid of $35,000. Barbara Finau borrowed $92,000 on the property in July of 1998. The El Paso County Assessor estimates the market value of the home at $103,734.

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