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Investors buy 5 properties at foreclosure auction

Thu, May 3, 2012

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Investors bought five of the 28 properties that sold at the El Paso County Public Trustee’s foreclosure auction Wednesday. The other 23 properties sold to the lenders.

Compass Capital Holdings paid $155,158.80 for a 1,449-square-foot two-story home built in 2004 at 5175 Stetson Meadows Dr. (80922). That was just $50 over lender Wells Fargo’s initial bid. Theresa and David Keehan borrowed $183,767 on the property in May of 2004. The El Paso County Assessor estimates the market value of the home at $205,600.

Old West Land Co paid $142,500 for a 2,042-square-foot two-story home at 2985 Inspiration Dr. (80917). That was almost $7,000 over lender Bank of America’s initial bid of $134,683.77. Lisa Palmer borrowed $135,800 on the property in October of 2003. The El Paso County Assessor estimates the market value of the house at $212,843.

Dean Jones paid $153,050 for a 1,584-square-foot townhome built in 2006 at 1234 Chelsea Village Heights (80907). That was well over lender American Bank of Commerce’s initial bid of $138,600. Chesham Village, LLC borrowed $205,000 on the property in May of 2010. The El Paso County Assessor estimates the market value of the property at $256,104.

Krumanocker-1 paid $118,235.80 for a 1,319-square-foot ranch home built in 1951 at 1314 La Salle St. (80907). That was just $50 over lender Wells Fargo’s initial bid. Cheryl Kezziah borrowed $126,000 on the home in November of 2002. The El Paso County Assessor estimates the market value at $155,609.

David L and Leslie R. Brown Family Trust paid $168,500 for a 1,584-square-foot townhome built in 2004 at 1260 Chesham Village Point (80949). That was well over lender American Bank of Commerce’s initial bid of $146,300. Chesham Village LLC borrowed $238,589.83 on the property in October of 2006. The El Paso County Assessor estimates the market value of the property at $252,852.

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