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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

4570 NW 18th Ave Unit 504, Deerfield Beach image
4570 NW 18th Ave Unit 504, Deerfield Beach — WATERS EDGE TOWERS CONDO $49,500

Investor dream in Waters Edge Towers. 1bedroom,2 baths,etc... enclosed balcony and pool/garden views. Unit to be sold strictly in "as is" condition. Cash offers only requ...

  • 1 Beds
  • 2 Baths
  • F10159228 MLS
  • WATERS EDGE TOWERS CONDO Bldg.
  • 33064 Zip Code
8900 Washington Blvd Unit #503A, Pembroke Pines image
8900 Washington Blvd Unit #503A, Pembroke Pines — Hollybrook Golf & Tennis $37,400

Lifestyle Country Club Living!! One bedroom, 1.5 bathroom unit with Lagoon and Golf Course views in Hollybrook Golf & Tennis Club Condominiums. Unit is well maintained wi...

  • 1 Beds
  • 2 Baths
  • A10603737 MLS
  • Hollybrook Golf & Tennis Bldg.
  • 33025 Zip Code
881 NW 23rd Ter, Pompano Beach image
881 NW 23rd Ter, Pompano Beach — Esquire Lake Estates Sec $181,000

HUD owned property. 4 bed / 1 bath with large backyard. Case #095-073436. Bids must be submitted on-line on hudhomestore website by a registered agent. Property sold AS-I...

  • 4 Beds
  • 1 Baths
  • F10158376 MLS
  • Esquire Lake Estates Sec Bldg.
  • 33069 Zip Code
11295 Nw 71st Ct, Parkland image
11295 Nw 71st Ct, Parkland — Parkland Isles $459,900

Great 4 bed 3 bath pool home featuring a large open kitchen with a breakfast nook, a formal dining room, split bedrooms, dual sinks and a soaking tub in the master bathro...

  • 4 Beds
  • 3 Baths
  • A10603405 MLS
  • Parkland Isles Bldg.
  • 33076 Zip Code
5100 Ne 14th Ter, Fort Lauderdale image
5100 Ne 14th Ter, Fort Lauderdale — Coral Ridge Isles $426,800

**CORPORATE OWNED AND PRICED FOR IMMEDIATE SALE.** BUYER AND/OR BUYER'S AGENT RESPONSIBLE TO VERIFY ALL INFORMATION CONTAINED IN THIS LISTING. **SEE ATTACHMENTS FOR IMPOR...

  • 4 Beds
  • 2 Baths
  • A10602951 MLS
  • Coral Ridge Isles Bldg.
  • 33334 Zip Code

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

 

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