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Investors buy 2 properties at auction

Thu, Apr 26, 2012

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Investors bought two of the 35 properties that sold in the El Paso County Public Trustee’s foreclosure sale Wednesday. The rest sold back to the lenders.

Ho Investments paid $157,050 for a four-plex built in 1984 at 6965 Peyote Way (80920). That was slightly over lender Citi Bank’s initial bid of $152,910. Mark T. Schwab borrowed $296,000 on the property in February of 2007. The El Paso County Assessor estimates the market value of the property at $243,075.

City Light Homes paid $102,500 for a 1,786-square-foot bi-level home built in 1973 at 6860 Caballero Ave. (80911). That was well over lender Citibank’s initial bid of $90,334. George McDonald borrowed $157,500 on the property in February of 2008. The El Paso County Assessor estimates the market value of the home at $119,764.

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