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Investors buy 3 properties at foreclosure

Thu, Oct 25, 2012

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Investors bought three of the 49 properties that sold in the El Paso County Public Trustee’s foreclosure auction Wednesday. The rest were sold to the lenders.

Stan Kline paid $92,100 for a 1,447-square-foot tri-level home built in 1986 at 4755 Spacewalk Way (80918). That was more than lender GMAC Mortgage’s initial bid of $88,570.65. Jesse and Christina Hawthorne borrowed $163,189 on the property in May 2011. The El Paso County Assessor estimates the market value of the home at $131,770.

Yellow Flower LLC paid $58,370 for a 896-square-foot ranch home built in 1982 at 750 Beldon Drive (80903). That was $50 more than lender U.S. Bank’s initial bid. Sally Bender borrowed $94,800 on the property in March 2006. The El Paso County Assessor estimates its market value at $103,564.

ESW Investments paid $197,000 for a 2,263-square-foot two-story home built in 1998 at 6944 Cloud Dancer Driver (80923). That was more than lender Wells Fargo’s initial bid of $136,267.85. Lisa Spoto borrowed $297,441.44 on the property in September 2008. The El Paso County Assessor estimates the market value of the home at $257,686.

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