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Foreclosures in Broward County

Foreclosures have hit a 10 year low, dropping to pre-2006 levels. Though it's enticing to get the bargain of a lifetime, buying a foreclosure is not for the faint of heart! Cash investors are in abundance and are buying up these properties sight unseen. If you're the typical buyer who wants to view the house before making an offer, you'll often find there are multiple cash offers that have been submitted the day they come on the market! It's like a feeding frenzy. I believe this is due to more people wanting to invest in Real Estate, yet there are fewer foreclosures on the market. According to MLS records, 567 foreclosures sold in Broward County in the first quarter of 2017. This may sound like a lot, but compare that to the 2,617 foreclosures that sold in the first quarter of 2010. 

Of course the attraction to buying a foreclosure is the price! In recent years, banks are listing homes at current market value, with only a small discount due to their condition. Many of these homes have leaking roofs and mold, since the banks often don't pay to keep the electricity on. With South Florida heat & humidity... No A/C = a haven for mold!  I once opened the door to show a townhouse and the walls from floor to ceiling were dark green and lined with mold. It was much worse than this picture, so I chose not to step inside that property!

It's important to consider how much money you're willing to sink into a home that has suffered from deferred maintenance for years, before you jump into buying a foreclosure. Also consider that most banks prefer cash buyers.  Looking at the 567 foreclosures that sold in the first quarter of 2017, 405 of these sold to cash buyers and 117 sold through conventional financing. Only a small number sold through FHA, VA or Homepath Financing.

I believe for the typical home buyer, it's best to buy a home that's in good condition and has been well maintained over the years. But I have sold many foreclosures, know the process and can guide you through to a successful closing. So if you still think buying a foreclosure property in Broward County is right for you, I can help! My foreclosure search above contains all the bank owned properties currently on the market in Broward County.

Recent Broward Foreclosures

5260 NW 11th St Unit 201, Lauderhill image
5260 NW 11th St Unit 201, Lauderhill — LAKEVIEW NORTH CONDO $84,000

Super Spacious Lakefront Unit in the Gated Complex of Lakeview North. Central Location in the heart of Plantation. 2 Bedroom, 2 Bathroom unit with 1060 sq-ft! Amenities i...

  • 2 Beds
  • 2 Baths
  • F10163210 MLS
  • LAKEVIEW NORTH CONDO Bldg.
  • 33313 Zip Code
1600 NW 7th Ter, Fort Lauderdale image
1600 NW 7th Ter, Fort Lauderdale — Progresso 2-18 D $198,000

Spacious Single Family Home, on a Corner Lot, in the Popular Progresso Area of Ft Lauderdale. 2 Bedrooms, 1 Bathroom. Large Garden-Side Family Room. Separate Dining Room,...

  • 2 Beds
  • 1 Baths
  • F10163167 MLS
  • Progresso 2-18 D Bldg.
  • 33311 Zip Code
4163 NW 90th Ave Unit 104, Coral Springs image
4163 NW 90th Ave Unit 104, Coral Springs — RAMBLEWOOD EAST CONDOS $114,900

GREAT AFFORDABLE GROUND FLOOR CONDO IN ALL AGES COMM. IN THE HEART OF CORAL SPRINGS. BRAND NEW KITCHEN & S/S APPLIANCES; LAMINATE FLOORS IN BEDROOMS; WASHER/DRYER INSID...

  • 2 Beds
  • 2 Baths
  • F10163146 MLS
  • RAMBLEWOOD EAST CONDOS Bldg.
  • 33065 Zip Code
1950 Sw 68th Ave, North Lauderdale image
1950 Sw 68th Ave, North Lauderdale — Broadview Country Club Est $134,900

ROOMY 2/1 WITH LARGE LAUNDRY ROOM, NICE FENCED BACKYARD AND STORAGE SHED! CLOSE TO SCHOOLS AND SHOPPING!

  • 2 Beds
  • 1 Baths
  • A10619921 MLS
  • Broadview Country Club Est Bldg.
  • 33068 Zip Code
393 N Laurel Dr Unit 302, Margate image
393 N Laurel Dr Unit 302, Margate — LAURELS AT MARGATE $85,000

GREAT CORNER UNIT CONDO ON 1ST FLOOR . THIS 2 BEDROOM 2 FULL BATH WITH LARGE LIVING ROOM & DINING ROOM AREA WITH SCREENED IN PATIO. WASHER AND DRYER HOOK UP IN THE UNIT ....

  • 2 Beds
  • 2 Baths
  • F10163094 MLS
  • LAURELS AT MARGATE Bldg.
  • 33063 Zip Code

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7830 NW 33rd St. #104, Hollywood, FL 33024

 

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