1. NYC real estate experts warn against buying new construction homes sight-unseen [NY1]
2. KB Home co-founder sells his Upper East Side co-op for $8 million, after slashing price from $15 million [Bloomberg]
3. Texas-themed eatery and performance art space Marfa closes in the East Village [EV Grieve]
4. Maspeth, Queens residents riled over plan to relocate MTA bus depot from Greenpoint [Brooklyn Paper]
5. After successful run as food cart Ample Hills Creamery plans to open brick-and-mortar shop [Village Voice]
6. Stan Humphries, chief economist with Zillow, asks: “is drop in U.S. debt load good for housing” [WSJ]
7. Underwater homeowners may have more options for loan modifications in the coming weeks [NYT]
8. SEC plans probe into Fannie and Freddie’s subprime loan involvement [WSJ]
9. Federal Home Affordable Mortgage Program to be extended one year, despite widespread criticism [TruthAboutMortgage]
10. American Prospect co-editor examines the U.S.’ “continuing mortgage mess” [HuffPo]
11. Home loans taking longer to obtain for homeowners nationwide [NYT]