High Marks for Transit Hubs
The New York Times / nytimes.com
The latest survey on home prices conducted by the Otteau Valuation Group found that towns along the rail lines with New York City commutes of less than 50 minutes saw real estate values increase by 3.6 percent from 2010 to…
Metuchen narrows builders’ pitches for Pearl St. project
Sentinel / gmnews.com
And so much of this is to really support Main Street, he said. Otteau told officials there is a demand for residential space in the "renter by choice" category, Muldoon said. These people, who are often younger professionals or older…
Housing index puts N.J.’s market near bottom
NJBIZ / njbiz.com
Based upon long-term economic and housing data, New Jersey ranks as one of the weakest markets in the country, Otteau said. "However, over the last seven months, economic growth has actually outpaced the rest of the nation, and the housing…
Sinking home prices leave some NJ homeowners unable to upgrade
Daily Record / dailyrecord.com
One result: Some 310,000 homeowners in New Jersey, or 16 percent of the state's homeowners, are "underwater," owing the bank more than their homes are worth, said Jeffrey Otteau, president of Otteau Valuation Group, a real estate appraisal and consulting…
Jersey City Condo Sales Spurt Going into Spring
GlobeSt.com
Housing market specialists noted a strong surge in the overall number of home sales starting in January, although average prices continued to decline. The explosion in demand occurred almost exclusively at the low-end of pricing, according to market analyst Jeffrey…
Expert: N.J. housing market ready to handle outcome of foreclosure case
NJBIZ / njbiz.com
Jeffrey Otteau, president of the Otteau Valuation Group, said foreclosures in New Jersey were already on the rise in January, but the court decision could "accelerate" the process of clearing the backlog. Otteau said the majority of foreclosures will arise…
Hovnanian sees 27 percent increase in home contracts
Asbury Park Press / app.com
Jeffrey Otteau, the president of the Otteau Valuation Group in East Brunswick, a real estate appraisal and consulting firm, said earlier this week that home sales in New Jersey spiked in January - a sign that the economic recovery is…
Transforming Foreclosed Houses into Affordable Housing
NJ Spotlight / njspotlight.com
Otteau said the bill would go far beyond creating more affordable housing and reducing vacancies. It would also help stabilize the entire housing market and boost consumer confidence, which could lead to more home sales and the economic activity associated…
NJ gets $837.7M in nationwide mortgage and foreclosure settlement
Home News Tribune / mycentraljersey.com
There is a momentum building in the housing market. It is entirely occurring in the lower price ranges, Otteau said. "All housing recoveries begin in that entry-level price range. In order for a recovery to be sustainable, it must occur…