Lee County Sets New Foreclosure Record
Foreclosures in October topped the charts at 2,665, the highest total ever for a single month in Lee County. In layman's terms, this equates to 111 foreclosure filings a day for the 23 business days in October. A hefty percentage of these are single-family starter homes located in the northern half of Cape Coral and throughout Lehigh Acres. If you are in the market for a slightly used, 3BR 2BA Cape Coral foreclosure, the choices are nearly unlimited!
The good news is that builders are still sitting on the sidelines not contributing more inventory to our housing pool. County-wide, only 86 permits were pulled for single-family homes. On the condo front, Pulte pulled 46 permits for their Majestic Palms project located in South Fort Myers along McGregor Boulevard between Gladiolus Drive and Kelly Road.