2494 South Ocean Boulevard

Today’s priciest new listing is a three-bedroom, four-bathroom, 3,764-square-foot condo in the Aragon that is asking $3.5 million, according to Condo Vultures. [more]

Today brought with it a plethora of September jobs news. Nationwide, the economy added some 114,000 jobs, bringing the unemployment rate down to 7.8 percent, according to Labor Department statistics. And according to another new report, 5,000 of those jobs were added by construction employers.

But the Associated General Contractors of America also revealed an increase in the industry’s total unemployment rate: 11.9 percent unemployment — up from 11.3 percent in August. “Despite the slight uptick in construction employment for the past month, the industry is a bit smaller than it was one year ago,” said Stephen Sandherr, CEO of the association, in the release. “It appears that for every rebounding market segment, there is another one that is shrinking.” [more]

The Capitol

Though the news spotlight has been on the presidential debates and the November 6 elections, a more pressing personal issue for large numbers of homeowners across the country involves the lame-duck congressional session scheduled to begin Nov. 13.

Along with the federal budget, billions in tax increases, draconian spending cuts and efforts to avoid the “fiscal cliff” looming Dec. 31, the lame-duck session is expected to answer what’s estimated to be a multibillion-dollar question for housing: Will Congress renew the mortgage debt forgiveness tax provisions for owners whose mortgage lenders agree to write off portions of their debt, either as part of loan modifications, foreclosures, short sales or deeds-in-lieu of foreclosure? Without an extension, borrowers who receive reductions in principal next year would be hit with federal income taxes at their regular marginal rates on the amounts forgiven.  [more]

New York Attorney General Eric Schneiderman

U.S. federal and state authorities have launched a probe investigating Credit Suisse AG’s repackaging and sale of mortgage-backed securities, Reuters reported. Analysts have blamed the sale of mortgage-backed securities for inflating the housing market; that, they said, led to a bubble that subsequently popped, causing the implosion of firms such as Lehman Brothers and Bear Stearns.

The bank under fire, Switzerland’s second-largest, declined to provide comment on the investigation, which sources told Reuters was being conducted by the U.S. Justice Department and the New York state Attorney General. [more]

From left: Pres. Barack Obama and Gov. Mitt Romney

Asking prices in six of seven swing states have increased year-over-year, Trulia reported, adding that this could be good news for President Obama. The swing states were designated by political data site RealClearPolitics.com.

Two such states, Nevada and Florida — the center of the foreclosure crisis — have seen 7 and 6.9 percent year-over-year increases in asking prices, respectively. [more]

Breaking up can be hard, especially after nearly four years of a good thing. In 2008, Fannie Mae and Freddie Mac came under the conservatorship of the U.S. government, but now that the government-backed lenders are looking for an injection of private capital, they’re finding that risks and regulations are making that difficult.

According to the Wall Street Journal, Fannie and Freddie were scheduled to issue new risk-sharing bonds to attract private investors but Commodity Futures Trading Commission regulations created during the 2010 Dodd-Frank financial overhaul are adding unanticipated responsibilities and costs. [more]

A rendering by Affiniti Architects of Villas on Antique Row in West Palm Beach

Label & Co. Developments is looking to get approval on a 46-townhome project in West Palm Beach on the site of a project that was once planned to be nearly twice as large, the Palm Beach Post reported. Label, which has also developed Boca’s Centra residential complex, has unveiled a smaller version of what had been an 82-condo and townhome project with 14,000 square feet of retail space. The project is dubbed Villas on Antique Row. “The housing market has been picking up steadily for the past two years, both locally and nationally,” said Label & Co. President Harry Posin. “This is an extremely, extremely popular area near the Intracoastal and downtown.” [Palm Beach Post]

The River Seafood & Bar’s David Bracha will be setting up shop in the former space of Spanish tapas restaurant Andalus, Eater reported. Open Oak Tavern will be located at the corner of Northeast 40th Street and North Miami Avenue. The restaurant will reportedly open next month, just down the street from Majestic Properties. [Eater]

The Miami Beach Design Review Board has approved the Palau at Sunset Harbour project, the Miami Herald reported. The proposed condominium complex, which would include 50 units in a design by Miami’s Kobi Karp, is being developed by the family of former Disney executive Roy Disney. It still will require zoning approval from the city. [more]

The number of foreclosure filings in South Florida rose 36 percent in the third quarter, according to a report from Condo Vultures. That represented a total of 13,200 foreclosure filings, with 35,700 initial filings in South Florida for the year. “Lenders are stepping up their foreclosure efforts in South Florida some two years after the ‘robo-signer’ controversy first surfaced late in the third quarter of 2010,” said Peter Zalewski, founder of Condo Vultures. “As the South Florida real estate market increasingly shows signs of improving, lenders appear to be intensifying their efforts to work through the region’s foreclosure mess.” — Alexander Britell