In hurting market, first-time buyers depend on parents to secure a home
NJBIZ / njbiz.com
According to Jeffrey Otteau, president of Otteau Valuation Group, in East Brunswick, the expiration of last year's homebuyer tax credits, tighter lending standards and low employment - compounded by boomers who put off retirement for 10 or more years -…
The new year could bring opportunities for home buyers; market expected to improve by mid-year
The Star-Ledger / nj.com
My read is, several years from now we'll look back at 2012 as having been one of those rare homebuying opportunities that comes along once or twice in a generation, said Jeffrey Otteau, a real estate analyst and president of…
Demand for ‘Estate’-Like Condos
The New York Times / nytimes.com
Seven percent of total sales in Bergen involved houses sold for $1 million to $1.25 million, according to Jeffrey Otteau, the president of the Otteau Valuation Group of New Brunswick, which analyzes sales data for the industry. That is the…
N.J. home prices continue decline; South Jersey hit hardest
NJBIZ / njbiz.com
According to Otteau, most of the homes coming off the market are high-priced properties in North Jersey. When you start to break the market down into submarkets, you start to see very different patterns," Otteau said. "The largest declines are…
Homes Under Pressure
he Wall Street Journal / wsj.com
Foreclosures place downward pressure on neighborhoods, said Jeffrey G. Otteau, an appraiser and housing consultant. "Home prices are falling fastest in those urban and rural markets most affected by foreclosures."
McMansions swell the real estate market as homebuyers think small
The Star-Ledger / nj.com
In New Jersey, it would take 14.6 months to sell the current inventory of houses listed between $600,000 and $1 million, according to real estate analyst Jeffrey Otteau, president of Otteau Valuation Group. The only houses that are selling are…
Median home price for region including Shore drops 9.9 percent
Asbury Park Press / app.com
Meanwhile, the pace of home sales in New Jersey since August was about the same as the period in 2010, according to the Otteau Valuation Group in East Brunswick. It has only receded to last year's pace, which means that…
A change of plans could save failing real estate
NJBIZ / njbiz.com
Real estate appraiser Jeffrey G. Otteau, president of Otteau Valuation Group, also said the bill's changes are necessary. He said towns are failing to deal with economic and demographic changes in the state, including declining incomes and numbers of children.…
N.J. home sales flat as U.S. data show improvement
NJBIZ / njbiz.com
The housing market has been moving sideways since May, said Jeffrey Otteau, president of East Brunswick-based Otteau Valuation Group, which provides information on real estate trends. "The bottom was reached in New Jersey in May. Since then, there has no…