Real estate lending rises in North Jersey
The Record / northjersey.com
Importantly, unlike during the recession, property values have been on the rise and commercial property vacancy rates, with the exception of office space, are generally pretty low. That makes property owners less likely to default on loans. The vacancy rates…
Hamptons Home Sales, Prices Pick Up
The Wall Street Journal / wsj.com
In New Jersey, data compiled by Jeffrey G. Otteau, an appraiser and market analyst, showed that activity and prices lagged for much of last year, with the number of contracts beginning to rebound last fall.
The twin risks of flood-prone real estate
The Record / northjersey.com
According to Jeffrey Otteau, an East Brunswick appraiser who tracks the real estate market statewide, home sellers with high flood insurance premiums generally have to discount their asking prices significantly, to offset the monthly cost of the insurance.
Can New Jersey’s suburbs survive the millennial generation?
Asbury Park Press / app.com
Monmouth and Ocean counties were hit harder. Monmouth County's median home price fell from $422,492 in the second quarter of 2006 to $350,000 in the fourth quarter of 2014, or 17 percent. Ocean County's median price dropped from $285,154 in…
Age-restricted housing plan in Peapack-Gladstone now in doubt
The Bernadsville News / newjerseyhills.com
Jeffrey Otteau, a marketing expert hired by the developer, said families were unlikely to purchase a unit because 61 percent of households within five miles of the site have no children under 18 living at home. He also said the…
After tepid 2014, home prices forecast to rise 3.5% this year
The Record / northjersey.com
After treading water in 2014, New Jersey home prices will get a boost from low mortgage rates and an improving job market this year, appraiser Jeffrey Otteau predicted Tuesday. Otteau, an East Brunswick appraiser whose forecasts are widely followed in…
Condos making comeback in Jersey: Class finally recovering in state’s prime locations
NJBIZ / njbiz.com
The activity comes amid measured improvement in the state's condo market. Sales of condos and town homes reached 20,714 last year, up 0.5 percent from 2013 and 22 percent from 2012, according to the New Jersey Association of Realtors. The…
Cedar Grove Planning Board kicks K. Hovnanian proposal back to council
The Record / northjersey.com
Otteau laid out three categories of buyers that he thinks will be interested in this product: childless by choice (couples opting to not have children), empty nesters (couples whose children have grown up and moved out), and second home owners…
What do millennials really want?
My Central Jersey / mycentraljersey.com
The concept behind Advance Realty's plans for the redevelopment site is to include retail, commercial and residential uses on the property. Otteau said corporations are looking for locations where employees can have easy access to amenities, such as Starbucks, and…