A couple of weeks ago a Re/Max agent from Montreal e-mailed me with a promise of a several referrals if I couldn't find foreclosures  in Pompano Beach east of US 1.  I did a quick search of the MLS and found just 2 foreclosures.  Thats doesn't mean there aren't any deals out there, so I sent some listings I thought were just plain well priced.  They were probably a good 20% less than what you would have found last year.  I guess that, and the strength of the Canadien dollar still wasn't good enough because I never heard back.

I think it just goes to show that all the media hype about foreclosures is just that, Hype.  Here in Broward County there are 41,098 active properties for sale on the MLS as of today.  Of those, just 1266 are foreclosure or pre-foreclosure properties, which is just 3% of the total.  Actual foreclosed properties is somewhere near 1%.

I wasn't really surprised I could find many foreclosures near the beach, those folks have money.  But it made me wonder just where all these distressed properties were.  So I did a search of the MLS by zip code to find the areas in Broward County with the highest concentration of foreclosures and pre-foreclosures.  Here are the top five areas by Zip Code

       Zip Code     # of Foreclosure Properties

      1. 33065                       72

      2. 33063                       66             

      3. 33321                       59      

      4. 33023                       51            

      5. 33024                       50

There are some good deals to be found, but you don't necessarily have to go the foreclosure route.  Especially if you are looking for a vacation property.  Prices have softened, the dollar is weak, and now is a good time to buy.  How's the weather up there?  I hear the snow is coming.

Tom Day, Re/Max in Motion

www.TomDayproperties.com