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Investors buy 9 properties at foreclosure sale

Thu, Jun 21, 2012

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Investors bought nine of the 40 properties that sold in the El Paso County Public Trustee’s foreclosure auction Wednesday. The rest of the properties were returned to the lenders.

Compass Capital Holdings paid $211,000 for a 2,080-square-foot two-story home built in 1986 at 1255 Dancing Horse Drive (80919). That was more than lender The Bank of New York Mellon’s initial bid of $204,000. Timothy and Carey Roberts borrowed $215,200 on the property in April 2005. The El Paso County Assessor estimates the market value at $262,528.

Benjamin Langston paid $170,050 for a 1,158-square-foot ranch home built in 1926 at 1401 Cheyenne Blvd. (80906). That was just $50 over lender Deutsche Bank’s initial bid. Philip Beman borrowed $296,000 on the property in April 2005. The El Paso County Assessor estimates the value of the property at $195,570.

Michael E. Halla, Ryan E. Halla and David D. Stratton paid $187,766.90 for a 1,684-square-foot ranch home built in 2006 at 7534 Lake Ave. (80817). That was $50 more than lender Wells Fargo Bank’s initial bid. Edward Matthew Day borrowed $254,767 on the property in March 2009. The El Paso County Assessor estimates the market value of the home at $245,922.

All In Investments paid $88,500 for a 930-square-foot ranch home built in 1972 at 7030 White Mountain Drive (80915). That was more than lender GMAC Mortgage’s initial bid of $85,486.10. Christopher Allan Riddle borrowed $135,108 on the property in December 2009. The El Paso County Assesor estimates the market value of the home at $109,075.

Moonrise Properties paid $108,000 for a 988-square-foot ranch home built in 1926 at 1814 Royer St. (80907). That was more than five times lender ENT Federal Credit Union’s initial bid of $19,377.20. Joseph and Jean Sowell borrowed $35,000 on the home in November 2000. The El Paso County Assessor estimates the market value of the house at $189,974.

Na Zhai paid $221,000 for a 2,520-square-foot two-story home built in 1992 at 3775 Cottage Dr. (80903). That was more than lender Wells Fargo Bank’s initial bid of $157,277.23. William and Cathy Kincaid borrowed $131,750 for the property in August 2004. The El Paso County Assessor estimates the market value of the home at $287,777.

Equity Trust Company custodian FBO Thomas H. Beeson IRA paid $82,000 for a 1,512-square-foot bi-level home built in 1971 at 1165 Chiricahua Drive (80915). That was more than lender Wells Fargo Bank’s initial bid of $70,079.26. John Hertz borrowed $138,417.94 on the property in February 2006. The El Paso County Assessor estimates the market value of the property at $124,104.

Field of Dreams Investments paid $80,000 for a 1,666-square-foot bi-level home built in 1980 at 4441 Millburn Drive (80910). That was more than lender The Bank of New York Mellon’s initial bid of $74,814.95. Shirley Wimbley borrowed $68,000 on the property in February, 2005. The El Paso County Assessor estimates the market value of the home at $124,780.

Integrity Bank and Trust as trustee for David L. Brown Roth IRA paid $227,425.40 for a 1,598-square-foot ranch home built in 2006 at 4921 Barnstormers Ave. (80911). That was $50 more than lender GMAC Mortgage’s initial bid. Kenneth and Johnny Croudy borrowed $357,600 on the property in May 2009. The El Paso County Assessor estimates the market value of the home at $285,332.

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