Sandy expected to create opportunity for investors
NJBIZ / njbiz.com
Otteau said many of the homes that were destroyed had no flood insurance because the homes have been passed down several generations, and flood insurance is only required when there is a mortgage. "Even if they had flood insurance, they…
Commuter towns hold value better
The Record / northjersey.com
While home values have fallen about 25 percent in the region since the housing boom's peak in 2006, prices have held up better in towns along commuter train lines. According to a study by Otteau Valuation Group of East Brunswick,…
N.J. home sales enjoying rebound
NJBIZ / njbiz.com
The upswing in the housing market is a boost for the economy overall, said Jeffrey G. Otteau, president of the appraisal firm Otteau Valuation Group, in East Brunswick. "The recovering housing market creates construction jobs and generates retail spending," he…
Housing Signals Mixed
Wall Street Journal / wsj.com
A few weeks ago, Jeffrey G. Otteau, an appraiser and founder of Otteau Valuation Group, reported that strong job growth had led to a "steady improvement in the home purchase market" in New Jersey over the last 18 months. He…
More parents choosing New York City over Bergen County, data shows
The Star Ledger / nj.com
The number of children younger than 5 has dropped by 6,000 in Bergen County since 2000 as more parents choose New York City over the suburbs, the Record reported. The decline of young families will hold down prices for suburban…
NJ Home Prices Increase for the First Time in 2 Years
Jeffrey G. Otteau, Otteau Valuation Group, Inc. / OTTEAU.com
New Jersey home prices increased in the 4th quarter of 2012 by 2.91% with an average home price of $276,944 compared to $269,103 in 2011-Q4. This follows steady improvement in the home purchase market over the past 18 months, and…
Home prices up 2.9 percent in NJ, appraiser says
The Record / northjersey.com
Home prices rose 2.9 percent in New Jersey, to an average of $276,944, in the fourth quarter of 2012, an East Brunswick appraiser said Friday. The increase is the first reported by appraiser Jeffrey Otteau in the state since late…
North Jersey banks set money aside for Sandy losses
The Record / northjersey.com
The moratoriums, while giving victims more time to get back on their feet, may pose greater risk of loan losses to banks - especially in cases where borrowers owe more than what their homes are worth and may have already…
High hopes for investors with apartments in short supply
NJBIZ / njbiz.com
The state's rental market is poised to reach "virtual full occupancy" this year, said Jeffrey G. Otteau, president of Otteau Valuation Group, in East Brunswick. That would mean that vacancy, which has fallen steadily since its peak of 5.2 percent…