Broward Bargain Homes For Sale

 In 2005, at the peak of the Broward housing
Broward Homes For Sale  :: The Opportunity toboom, a total of 18 sales closed at $50,000 or
get a Great deal on a Broward Home in Now!!!less in Broward and Palm Beach counties, Condo
Many of the Broward homes for sale on theVultures .com said.
market today are owned by Broward FHAJuly's median condo prices in Broward and Palm
lenders and "underwater" Broward home ownersBeach counties were below $100,000, having
trying to complete short sales, in which they sellplummeted by at least 60 percent since the peak.
for less than the current homes mortgageThe median means half the properties sold for
amount, according.more, half for less.
Search the Entire Broward MLS atDuring the early part of the past decade,
While most of these Broward homes for saleBroward home buyers and other speculators
have structural problems or other issues, they'rehelped fuel the run-up in Broward home prices by
not necessarily in poor, unsafe areas, Browardpurchasing Broward homes for sale and quickly
real estate agents say."flipping" them for big profits. When prices plunged
The single-family Broward homes on the MarketBroward investors left the market.
are mostly in older, working-class neighborhoods inNow they're back, this time capitalizing on the
the central parts of Broward county. Thesupper low Broward Home Pprices and helping to
Broward condos are more spread out, located inclear the supply of Broward foreclosed homes.
buildings hit hard by foreclosures or facing steep"It's ironic," from a housing analyst in Coral Gables.
assessments for repairs. Some of the condos"Now, these Broward investors are serving a
could not be sold by developers after theyvery useful purpose."
converted the units from rentals during the boom.If Broward first-time buyers are interested in
The median price for an existing Broward homesbidding on Broward homes for sale priced at
for sale in in July was $207,500, and in Palm$50,000 or less, they're likely to face steep
Beach County the median was $226,000,competition from Broward investors, real estate
according to the Florida Realtors. In both counties,agents say.
the medians are nearly half of what they were inMost buyers need FHA mortgages, but banks
2005.typically won't lend money for a Broward home
Search the Broward MLS atthat has structural problems or is missing major
A Coral Springs condominium on Riverside Drive isappliances, Investors paying cash don't have that
listed for sale at $50,000.worry about a Broward home loan approval..
On Haverhill Road in West Palm Beach, a house is"Broward county Investors are sitting out there
going for $40,000.and swooping in, and right now. "Cash is king."
And on 36th Street in Hollywood, you can buy aCurrently Broward FL investors must do the
three-bedroom Broward home for $34,900, orproper research to ensure the deals make
roughly the cost of a 2011 Ford Expedition.financial sense. As long as they do that, most of
The collapse in Broward FL home prices duringhis members find the industry lucrative.
the past five years has left plenty of bargains forEven if Broward investors can't resell the Broward
the taking, but many of the Broward homes forhomes for sale they've bought, they can rent
sale are shoe-box tiny, need new roofs or havethem and make money "You still can get upwards
some other major flaw that doesn't makeof $700 a month in rent, and the expenses will be
financial sense for Broward home buyers on ano more than half that. "You're cash-flow positive
budget.from day one."
Typically, Broward investors will buy the BrowardLast fall, investor Mike Miller bought a
homes on the market, renovate them and then1,200-square-foot home off Sample Road in
resell the Broward homes for a profit within aBroward FL for $47,000. The Broward home sold
few weeks or months.for $142,000 in 2003.
Rick Henderson, who recently bought a WestThe list of repairs was lengthy.
Palm Beach home for $42,000, said he and otherThere was an illegal shed that had to be torn
investors negotiate good deals with contractorsdown. The three-bedroom Broward house also
and spend $10,000 to $20,000 fixing the homes.needed a paint job, along with a new kitchen,
"It would cost twice as much for a regularbathrooms, a patio and an electrical rewiring. Total
Broward homeowner," most say. "There truly iscost of repairs: about $15,000.
no way that a regular Broward homeownersOnce the work was complete, she turned around
could get the kinds of prices on material and laborand sold the home in March to a Broward county
unless they're in the business or rehabbingfirst-time buyer for $99,000.
Broward homes.."Roberts, 31, a former banker, found the Broward
Roughly 6,000 Broward condos, Browardhome for sale while on a foreclosure bus tour
townhouses and Broward homes for sale pricedsponsored by a Broward investment club. He
at $50,000 or less are for sale across Southexpects to buy and sell three or four Broward
Florida, according to a recent report from Condohomes for sale this year.
Vultures .com."It's a great time to be buying," most say.
Broward County Florida led the tri-county region"Broward Banks are trying to get rid of their
with more than 2000 of these foreclosureinventory."
Broward homes for sale properties. Palm BeachThe business strategy is simple.
County has 2,100 homes, while Miami-Dade"Buy low and sell low. Don't get to  greedy.
County has 1,500.