Most people in the real estate industry would consider developing and selling in some of the nation's finest resort and retirement communities to be the pinnacle of their career. Nice people, nice property and nice income are all positives.

But, in recent years, the bloom is off the rose because willing, wealthy buyers cannot find willing lenders for jumbo loans. While the secondary market for these loans is improving, it is not the primary problem. The reasons relate more to constipated underwriting and to property appraisals.

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