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…
Census: Young kids hard to find in some North Jersey towns
The Record / northjersey.com
It's essentially economic pressure, said Jeffrey Otteau, an East Brunswick appraiser who follows home price trends statewide. "We have young people who find employment scarce and salary levels low, and upward mobility to be very small. … The real issue…
Bank allowed to resume foreclosures on NJ homeowners
Asbury Park Press / app.com
As both the economy and the market are leaking, this is poor timing because it will put additional strain on the economy, the banking system and on the housing market, said Jeffrey Otteau, president of the Otteau Valuation Group in…
Federal action could reduce number of foreclosed N.J. properties
NJBIZ / njbiz.com
It would have the effect of softening the blow on the housing market of the foreclosure shadow inventory, said Jeffrey G. Otteau, president of Otteau Valuation Group. Otteau said urban and exurban areas have been bracing for an additional wave…
Home price decline slows
Asbury Park Press / app.com
What we're likely to see here is that the momentum that we experienced in the housing market in May and June will likely recede back to what we saw in the first quarter, which tells us price declines will continue…
Home Listings Fall but Woes Persist
Wall Street Journal / wsj.com
If supply remains constrained, prices could stabilize. We're not at the end of the housing nightmare, but we seem to be getting closer," said Jeffrey Otteau, president of Otteau Valuation Group, an East Brunswick, N.J., appraisal firm. But if banks…
Selling your home in a down market takes patience, right price
Asbury Park Press / app.com
At the end of the day, housing demand is created by jobs, and jobs are being created very slowly, said Jeffrey G. Otteau, the president of the real estate appraisal and consulting firm in East Brunswick. There are some positive…
Trenton sellers face a tough market
The Times of Trenton / nj.com
In April, Trenton had 22 times as many unsold homes on the market as homes under contract to be purchased, according to the East Brunswick-based Otteau Valuation Group's most recent housing market analysis report for Mercer County. Countywide, there were…
Train service to Midtown driving NJ suburban home price rebound
The Real Deal / therealdeal.com
The surest sign of an upcoming suburban real estate rebound in the New York metropolitan area? A train station. According to Jeffrey Otteau, a New Jersey-based appraiser, commuter towns are rebounding fastest because jobs in the city are what's driving…