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…
The 13 priciest homes in New Jersey for 2013
The Star-Ledger / nj.com
The recession never really affected them, said Matthew Krauser, managing director of Integra Realty Resources-Northern New Jersey. The number of houses that sold for more than $1 million was up 13 percent in the first half of last year, according…
Housing 2013: The recovery is here, but it’s slow
The Record / northjersey.com
It will be the best year for housing in the last five, with a higher rate of home sales, declining inventory and new construction beginning to occur, said Jeffrey Otteau, an East Brunswick appraiser who tracks the real estate market…
A brighter housing picture in 2013
Asbury Park Press / dailyrecord.com
We have seen a strong improvement in the housing market conditions in New Jersey, said Jeffrey G. Otteau, president of the Otteau Valuation Group in East Brunswick. You can see it in the numbers. Contract sales through the end of…
Sandy put the brakes on an already slow economic recovery at the Shore
McClatchy-Tribune / businessweek.com
For buyers, banks maintained tight lending standards, demanding a decent credit score and a downpayment before agreeing to a loan. But through August, home sales in New Jersey were up 24 percent from the previous year, according to the Otteau…
More NJ Families Will Rent Instead Of Own
NJ 101.5 / nj1015.com
With high unemployment and home foreclosures rising, more people are giving up the dream of owning a home - instead opting to rent. Real estate expert Jeff Otteau of Otteau Valuation Group says the housing market here in New Jersey…