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Investors buy 5 properties at foreclosure

Mon, Jul 30, 2012

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Investors bought five of the 25 properties that sold in the El Paso County Public Trustee’s foreclosure auction July 25. The others were returned to the lenders.

Jeffrey G. Crank paid $46,000 for a 978-square-foot ranch home built in 1970 at 1843 Saratoga Drive (80910). That was more than lender Bank of America’s initial bid of $35,252. Bruce A. Delaney borrowed $42,840 on the property in May of 1998. The El Paso County Assessor estimates the market value of the property at $90,140.

Sall Living Trust paid $131,300 for a 1,368-square-foot tri-level home built in 1964 at 4105 Buttercup Lane (80918). That was $50 over lender Deutsche Bank’s initial bid. Ashley Smith borrowed $189,000 on the property in March of 2005. The El Paso County Assessor estimates the market value of the property at $185,383.

Compass Capital Holdings paid $166,000 for a 2,143-square-foot two-story house built in 2006 at 12774 Pine Valley Cir. (Peyton, 80831). That was more than lender U.S. Bank’s initial bid of $157,250. Kimberly Harris borrowed $230,400 on the property in June of 2006. The El Paso County Assessor estimates the market value of the house at $267,860.

Gene Melssen paid $226,000 for a 2,206-square-foot two-story home built in 2002 at 4101 Fellsland Drive (80922). That was more than lender Wells Fargo’s initial bid of $220,325. Paul Melcher borrowed $306,850 on the property in January of 2011.The El Paso County Assessor estimates the market value of the home at $253,584.

Go Real Estate Investment paid $126,957 for a 1,447-square-foot ranch home built in 2004 at 7295 Village Meadows Drive (Fountain, 80817). That was $50 more than lender Wells Fargo’s initial bid. Holly and Darrall Parsons borrowed $174,111 on the property in July of 2009. The El Paso County Assessor estimates the market value at $151,390.

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