Worth a fortune on paper, expensive to keep in real life
The strangest calls I get are from Fort Lauderdale, because on paper everybody's winning. Houses here roughly doubled over the past decade. But Broward reassesses aggressively, so if you inherited a place or bought without a homestead exemption in force, the tax bill reflects every penny of that run-up, north of $4,000 a year on an average house. And then the insurance renewal comes. In South Florida lately, it doubles or it just doesn't come at all. The equity is real. Getting at it is the whole problem.
How foreclosure actually moves in Broward
Broward's Seventeenth Circuit has handled some of the heaviest foreclosure volume in Florida, and the process is the same as the rest of the state: the lender sues, serves you, and needs a judgment from a judge before anything goes to auction. Call it six months to a year, sometimes more. I won't pretend that's bad news. It's time, and time matters. But interest and attorney fees build through every month of it, and the lawsuit sits in public view the whole way. After the sale, there's no getting the house back. Whatever you're going to do, the math works better the sooner you do it.
Old roofs, old windows, no policy
The houses I buy in Broward mostly sit in Progresso Village and along Sistrunk, block and frame construction from the 40s through the 60s that's eaten decades of hurricanes and humidity. Lauderdale Lakes and Lauderhill have a lot of 70s and 80s stock that aged badly under landlord ownership. Here's the practical issue: anything built before the 2002 hurricane codes usually needs impact windows, a newer roof, and a panel upgrade before an insurer will write a policy. Without a policy, your buyer can't get a mortgage. They don't haggle over it. They just go buy something newer.
Sistrunk isn't Las Olas
Fort Lauderdale's average price is a beach number. Las Olas, the Intracoastal, everything east of Federal. The houses that actually end up distressed live somewhere else. Progresso Village and Sistrunk are close-in, lower-priced, and condition-driven, with buyers who are interested but picky. Lauderhill and Lauderdale Lakes mostly trade between $250,000 and $350,000. The northern arc (North Lauderdale, the west side of Pompano, Deerfield, Margate) is working folks and retirees buying practical houses at practical prices. The citywide average won't tell you much about any of those streets. Go look at what's actually sold near you.
The price of doing it the normal way
Broward is the expensive version of all this. Commission and closing costs on a typical Fort Lauderdale sale already run well into five figures. If the house needs hurricane upgrades to be insurable (windows, roof, panel), that's $25,000 to $50,000 before you can even attract a financed buyer. Then you carry some of the highest insurance in the country while it sits. On a distressed property, all of it together can eat $80,000 to $100,000-plus of your sale price. A cash sale skips the repairs, the carrying, and the waiting, and closes in a few weeks. With the equity Broward owners are sitting on, moving early usually means leaving with a real check.