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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

2710 Riverside Dr Unit 205-A, Coral Springs image
2710 Riverside Dr Unit 205-A, Coral Springs — CORAL GARDENS $117,000

BEAUTIFUL SPLIT FLOOR PLAN , 2 FULL BATHS, LARGE ENCLOSED PORCH WITH A VIEW OF THE POOL. SMALL PET ALLOWED UNDER 20 LBS. SOME FURNITURE IN THE UNIT. UNIT HAS MANY UPDATES...

  • 2 Beds
  • 2 Baths
  • F10145607 MLS
  • CORAL GARDENS Bldg.
  • 33065 Zip Code
7173 Orange Dr Unit #201B, Davie image
7173 Orange Dr Unit #201B, Davie — Country Pines $69,900

One bedroom unit located in Country Pines. The unit is in need of rehab and repair. Complex has a pool, tennis court and a courtyard. No rentals the first year of ownersh...

  • 1 Beds
  • 1 Baths
  • A10554546 MLS
  • Country Pines Bldg.
  • 33314 Zip Code
6 Northwest 7 Ave #1-2, Dania Beach image
6 Northwest 7 Ave #1-2, Dania Beach — Town Of Dania $206,700

Investment opportunity available in Dania. This corner ranch duplex features 2 bedrooms and 1 bath in each unit, spacious rooms and tile floors. It will take some work to...

  • A10554577 MLS
  • Town Of Dania Bldg.
  • 33004 Zip Code
2925 Nw 126th Ave Unit #216-1, Sunrise image
2925 Nw 126th Ave Unit #216-1, Sunrise — Villa Alhambra Condo $238,500

Step inside this wonderful condo to find 2 bedrooms, 2 baths, spacious open kitchen with plenty of counter and cabinet space, great room opens to screen patio and large m...

  • 2 Beds
  • 2 Baths
  • A10554576 MLS
  • Villa Alhambra Condo Bldg.
  • 33323 Zip Code
4704 Cypress St Unit 4704, Coconut Creek image
4704 Cypress St Unit 4704, Coconut Creek — Grand Cypress $312,000

A must see! 3br/2.5ba home with garage located within the maintained community of Grand Cypress. No Age Restriction? Close to schools, shopping, restaurants, transportati...

  • 3 Beds
  • 3 Baths
  • F10144483 MLS
  • Grand Cypress Bldg.
  • 33073 Zip Code

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

 

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