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Permits for single-family homes in September tied a record low in unincorporated Lee County and set a new low in Cape Coral, according to figures released October 02, 2008. Meanwhile, 2,462 foreclosure actions were filed in the entire county — just five under the record high of 2,467 in July.

In Cape Coral there were seven permits issued, compared to 11 in August. The previous record low had been nine in December, 2007, according to a report by the city. In unincorporated Lee County, the number dropped to 32 in September, according to figures released by the county’s Community Development Office. The figure tied the record monthly low set in December 2007. Last month, 37 permits were pulled in the unincorporated county. A year ago, it was 49.

The city of Fort Myers issued 15 single-family permits in September, down from 16 in August. There were also 16 issued in September 2007.

No permits were issued in the city of Sanibel and numbers weren’t available for Bonita Springs and Fort Myers Beach.

Builders are finding it hard to keep going under current circumstances. According to local builders, they are basically in a state of hibernation. They haven’t closed down. They know they can’t compete with the prices of foreclosures. It would be impossible for you to build a new construction, compared to the price of a foreclosure.

There were permits issued for six multi-family units, all in duplexes, during September in the unincorporated county, compared to 32 the previous month and 18 in September 2007.

Permits were issued for seven new commercial buildings valued at $3.2 million in the unincorporated county, compared to $6.2 million the previous month. In September 2007, newly permitted commercial buildings were valued at $5.1 million.

ow is a great time to buy a home is SW FL. Prices are now back to the 2001 level!