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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

13465 Sw 22nd St, Miramar image
13465 Sw 22nd St, Miramar — Pod 5 At Monarch Lakes $389,900

Lovely 3 bedroom, 2 bathroom house located in the well-maintained, 24-7 secure community of Kings Bay. This property offers a wonderful layout, great open kitchen with br...

  • 3 Beds
  • 2 Baths
  • A10587302 MLS
  • Pod 5 At Monarch Lakes Bldg.
  • 33027 Zip Code
4164 Inverrary Dr Unit 204, Lauderhill image
4164 Inverrary Dr Unit 204, Lauderhill — MANORS OF INVERRARY XII $87,000

Updated Unit at one of the Best Maintained bldgs in the Manors of Inverrary. Updated & Move-In Ready!!Newly Installed Superior Gray Woodlike Flooring throughout! New Kit...

  • 2 Beds
  • 2 Baths
  • F10154278 MLS
  • MANORS OF INVERRARY XII Bldg.
  • 33319 Zip Code
8734 Sw 3rd St Unit #102, Pembroke Pines image
8734 Sw 3rd St Unit #102, Pembroke Pines — Windmill Lakes $134,200

Great option with this condo. Spacious 2 bedrooms 2 bathrooms. Tile and carpet throughout. Kitchen with bar and spacious dining area. Convenient to nearby shopping, maj...

  • 2 Beds
  • 2 Baths
  • A10587253 MLS
  • Windmill Lakes Bldg.
  • 33025 Zip Code
127 Harwood J Unit #127, Deerfield Beach image
127 Harwood J Unit #127, Deerfield Beach — Century Village $32,900

Great 1 bed 1 bath 2nd floor unit ready to be remodeled with your own personal touch and style. The unit features a large open living and dining area. A large bedroom wi...

  • 1 Beds
  • 1 Baths
  • A10586399 MLS
  • Century Village Bldg.
  • 33442 Zip Code
1515 E Broward Blvd Unit 414, Fort Lauderdale image
1515 E Broward Blvd Unit 414, Fort Lauderdale — PINE CREST VILLAGE I $194,900

Homesteps Property! Location, Location Location! This unit is located in the heart of Downtown Fort Lauderdale. Quick access to the beach, walking distance excellent rest...

  • 1 Beds
  • 1 Baths
  • F10154169 MLS
  • PINE CREST VILLAGE I Bldg.
  • 33301 Zip Code

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

 

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