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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

1121 W Prospect Rd Unit #1, Fort Lauderdale image
1121 W Prospect Rd Unit #1, Fort Lauderdale — Twin Lakes $137,500

Investment opportunity awaits in this 3 bedroom, 2 bath townhome. Some of the features include vaulted ceilings, separate dining, good sized rooms and private courtyard. ...

  • 3 Beds
  • 2 Baths
  • A10679367 MLS
  • Twin Lakes Bldg.
  • 33309 Zip Code
6344 NW 50 Street, Coral Springs image
6344 NW 50 Street, Coral Springs — Hidden Hammocks $389,900

Great opportunity to own this 4br/3ba home located in Hidden Hammocks community. No Age Restrictions. Close to shopping, major roads, schools and public transportation. B...

  • 4 Beds
  • 3 Baths
  • F10177545 MLS
  • Hidden Hammocks Bldg.
  • 33067 Zip Code
4401 Martinique Ct Unit B3, Coconut Creek image
4401 Martinique Ct Unit B3, Coconut Creek — Wynmoor $75,000

THE BEST OPPORTUNITY IN ALL OF WYNMOOR. STUNNING 55+ COMMUNITY WITH A 24 HOUR MANNED GUARD GATE. TONS AND TONS OF ADULT AMENITIES INCLUDING SHUTTLE SERVICE, MOVIE THEAT...

  • 2 Beds
  • 2 Baths
  • F10177555 MLS
  • Wynmoor Bldg.
  • 33066 Zip Code
3423 Arthur St, Hollywood image
3423 Arthur St, Hollywood — Hollywood Hills $315,000

Large and spacious 2 bedroom plus den home offers a bright an open layout , oversized family room and living / dining room, good size rooms, and an large yard with plenty...

  • 2 Beds
  • 2 Baths
  • A10678658 MLS
  • Hollywood Hills Bldg.
  • 33021 Zip Code
9923 S Hollybrook Lake Dr Unit #305, Pembroke Pines image
9923 S Hollybrook Lake Dr Unit #305, Pembroke Pines — Hollybrook $81,000

Spacious 2 bedroom condo offers an open and bright layout, large rooms, screened balcony, good size living area, and a guest bathroom. Condo is located in a gated communi...

  • 2 Beds
  • 2 Baths
  • A10678647 MLS
  • Hollybrook Bldg.
  • 33025 Zip Code

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