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…
Shadow’ Overhyped as Housing Threat
Wall Street Journal / wsj.com
If banks increase foreclosures, it's more likely to resemble a tornado than a flood, striking some communities while bypassing others, said Jeffrey Otteau, president of appraisal firm Otteau Valuation Group.
NJ lost 8,100 jobs after Sandy, but unemployment rate fell
Asbury Park Press / app.com
New Jersey's home sale closings declined by $50 million in November, a major hit to an industry that was beginning to rebound, said Jeffrey Otteau, president of the Otteau Valuation Group, an East Brunswick-based research firm.
Housing Issues to Watch in 2013
The Wall Street Journal / wsj.com
Many housing markets "will swallow what foreclosures come to the market whole because we're seeing inventory shortages develop, acutely," says Jeffrey Otteau, president of appraisal firm Otteau Valuation Group in East Brunswick, N.J.
Less N.J. Shore Tourism Expected; Maryland Beaches May Benefit
New Jersey Newsroom / newjerseynewsroom.com
Real estate consultant Jeffrey Otteau said because of the storm's destruction, there will be fewer seasonal rentals to be found at the Jersey Shore this summer. "There will simply be fewer people packing up their belongings, getting into the car,…
Building boom won’t help N.J. economy if Shore doesn’t bounce back, committee says
The Star-Ledger / nj.com
That will create jobs. That will put people to work, he said during his mostly gloomy testimony. That damage estimate, from insurance companies, does not take into account homes that were not insured, Otteau said, noting more than half the…
Foreclosures soar in New Jersey
The Record / northjersey.com
The focus has shifted from slowing and restricting foreclosures to accelerating them, and that is exactly what we need to get back to normal, said Jeffrey Otteau, president of Otteau Valuation Group, an East Brunswick-based real estate appraisal and consulting…
Taking first stab at assessing Sandy’s impact
The Record / northjersey.com
Real estate consultant Jeff Otteau, president of the East Brunswick-based Otteau Evaluation Group, told the committee he anticipated it will take two years to complete rebuilding efforts. "Assuming it's completed over those two years, we'd see $4 billion in residential…