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Investors buy 3 properties at foreclosure auction

Thu, Nov 29, 2012

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Investors bought three of the 41 properties that sold in the El Paso County Public Trustee’s foreclosure sale on Wednesday, Nov. 28. The rest sold back to the lenders.

AMC Properties paid $39,708.50 for a 1,492-square-foot condominium built in 1974 at 3460 #G Parkmoor Village Drive (80917). That was $50 more than lender Wells Fargo’s initial bid. Christopher Savidge borrowed $96,104 on the property in May of 2003. The El Paso County Assessor estimates the market value of the condo is $88,037.

All In Investments paid $203,000 for a 2,001-square-foot two-story home built in 2004 at 8275 Cedar Chase Drive (Fountain, 80817). That was more than lender PennyMac’s initial bid of $175,258. Lloyd and Bonnie Damm borrowed $301,150 on the property in November 2006. The El Paso County Assessor estimates the current market value at $263,752.

All In Investments paid $99,000 for a 1,824-square-foot bi-level home built in 1977 at 7025 Stowe Cir. (Fountain, 80817). That was more than lender MidFirst Bank’s initial bid of $90,774. Jason Gladney borrowed $163,337 on the property in July of 2006. The El Paso County Assessor estimates the market value of the property is $123,464.

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