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Investors buy 4 properties at foreclosure auction

Thu, Apr 12, 2012

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Investors purchased four of the 38 properties that sold at the El Paso County Public Trustee’s foreclosure auction Wednesday. The rest sold back to the lenders.

Go Real Estate Development paid $131,000 for a 1,498-square-foot two-story home built in 2000 at 5475 Anna Lee Way (80922). That was well over lender CitiMortgage’s initial bid of $96,167.46. Matthew C. Brown borrowed $188,400 on the property in August of 2006. The El Paso County Assessor estimates the market value of the home at $162,484.

Old West Land Co. paid $134,000 for a 2,383-square-foot bi-level home built in 1971 at 3216 Misty Pl. (80918). That was slightly over lender Wells Fargo’s initial bid of $132,195. Jorge L. Guendulay borrowed $154,230 on the property in November of 2010. The El Paso County Assessor estimates the market value at $185,306.

SFR Homes paid $43,000 for a 1,484-square-foot modular home built in 1999 at 20911 Boca Chica Height (80906). That was slightly over lender Wells Fargo Bank’s initial bid of $40,000. Daniel and Rachel Arias borrowed $82,000 on the home in November of 2002. The El Paso County Assessor estimates the value of the property at $90,636.

Integrity Bank as custodian FBO Eva Hornung IRA and Carolann Maynihan Agency paid $112,857 for a 1,234-square-foot ranch home built in 2007 at 7930 Brocket Ln. (80917). That was just $50 over lender Colorado Housing and Finance Authority’s initial bid. Aaron Wilson borrowed $206,157 on the property in May of 2007. The El Paso County Assessor estimates the market value at $172,162.

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