It is incredible to believe but it takes an average of 749 days for a foreclosure process to take place in Florida. This means more than two years…Considering there are almost 200,000 South Florida properties that will be arriving on the market, it will surely take a few years for this upcoming inventory to get sold. Some of them are located in the Hillsboro Boulevard area, East of 95, where Broward County almost ends and Palm Beach County line starts, the Keystone Point- Biscayne Bay area in North Miami and Kendall where foreclosed homes are on average priced at -45% vs. non-distressed homes. Other areas such as neighborhood in Fort Lauderdale located East of 95 but West of US 1, Sunny Isles and North Miami Beach ( in the North Alton Road area ), foreclosed are on average priced a little bit higher but they still low prices which are in between -30 to -45%  vs. non-distressed homes.

Unfortunately, these low-priced properties drag non-distressed property selling prices down, which often forces sellers to reduce the price of their property more than they wish in order to get it sold. However, foreclosed properties can bring great opportunities for buyers willing to make a great deal, close fast, willing to pay cash and who do not mind finding potential liens and mold issues related to the properties.