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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

6940 Nw 17th St, Margate image
6940 Nw 17th St, Margate — Paradise Gardens Sec 3 $115,900

Enjoy South Florida lifestyle in the wonderful Paradise Gardens community. Add your personal touches to make this your dream home. Spacious 2 bed 1 bath home with a one...

  • 2 Beds
  • 1 Baths
  • A10644062 MLS
  • Paradise Gardens Sec 3 Bldg.
  • 33063 Zip Code
15996 NW 12th Ct, Pembroke Pines image
15996 NW 12th Ct, Pembroke Pines — Towngate 156-11 B $350,000

READ BROKER REMARKS FOR AUCTION DETAILS. BEAUTIFUL & SPACIOUS 2 STORY 3 BEDROOM, 2.5 BATHS HOME w/1 CAR GARAGE IN ROYAL BAY COMMUNITY, THIS HOME SITS ON A LARGE LOT. THE ...

  • 3 Beds
  • 3 Baths
  • F10168302 MLS
  • Towngate 156-11 B Bldg.
  • 33028 Zip Code
7011 SW 10th Ct, Pembroke Pines image
7011 SW 10th Ct, Pembroke Pines — Pembroke Pines 3 39-27 B $230,000

DESIRABLE PEMBROKE PINES LOCATION - SINGLE FAMILY HOME FEATURES 3 BEDROOMS 2 BATH AND 2-CG, PERFECT FOR FAMILY TO MAKE IT THEIR OWN. IT'S CENTRALLY LOCATED, IN CLOSE PROX...

  • 3 Beds
  • 2 Baths
  • F10168278 MLS
  • Pembroke Pines 3 39-27 B Bldg.
  • 33023 Zip Code
11406 Canyon Maple Blvd, Davie image
11406 Canyon Maple Blvd, Davie — Long Lake Ranches Plat 3 $1,065,550

Amazing opportunity to own a home in Long Lake Ranches in Davie. An upscale private community with lush landscaping, beautiful homes and top schools. The house is a large...

  • 5 Beds
  • 5 Baths
  • A10643696 MLS
  • Long Lake Ranches Plat 3 Bldg.
  • 33330 Zip Code
11251 Nw 14th St, Plantation image
11251 Nw 14th St, Plantation — Singh Plat $1,890,000

WOW YOU MUST SEE THIS MANSION 10 BEDROOM AND 9.5 BATH 9776 SQ FT CUSTOM BUILT LUXURIOUS POOL HOME WITH A 3 CAR GARAGE. 2ND LEVEL APPROX 1470 SQ FT (3/3 WITH BONUS ROOM)R...

  • 10 Beds
  • 10 Baths
  • A10643280 MLS
  • Singh Plat Bldg.
  • 33323 Zip Code

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

 

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