From Bottom Up, Signs of Housing Recovery
The Wall Street Journal / wsj.com
Analysts have noted a similar pattern in New Jersey. Sales have picked up due to buyers of properties priced less than $400,000, according to data compiled by the Otteau Valuation Group. The number of such contracts signed during the fourth…
Expert: Uptick in existing home sales may spur new construction next years
NJBIZ / njbiz.com
Multifamily home construction will still lead the way in 2012, according to Jeffrey Otteau, president of Otteau Valuation Group, but recent increases in the number of existing home sales may turn into 2013 a new-home construction boom. There is a…
Rural Areas Slower to Rebound
The New York Times / nytimes.com
Also, the inventory of homes for sale shrank every month since May, according to Jeffrey G. Otteau, an analyst, whose Otteau Valuation Group in East Brunswick does monthly reports for the real estate industry; he called the latest news a…
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…