approved and being built do real estate agents know about it? I just bought a house and they were in the progress of building apartments a couple blocks up the street, and now the are finished and it will be low income housing. The value of our house is more than liking going to fall, so is it possible that the real estate agent knew and did not tells us. What is the odds of them knowing?

There are no odds. Every real estate agent is different some are in the loop, some aren't, meaning some follow local news, some don't.

slim if it is a private development. realtors aren't obligated to tell you what is being built in the area. you as the buyer have a responsblity to investigate the neighborhood, the schools, the local governemnt. you will be living there not the realtor.

If the sellers knew about it, they should have mentioned it to their agent who should have mentioned it to your agent. But, really the sellers may not have thought twice about it-- the catch is they are required to mention things that are decrimental, but if they don't consider a new housing project to be a negative, you can't really prove that they willfully withheld anything from you.

However, all of that is a matter of public record, so you also could have done the research to see what it was zoned for and what was approved for that space. Low income housing is such a hot topic right now I bet it even made the newspapers.