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…
The newer the listing, the more attractive it is to potential buyers. Here’s how to make the most of the fresh-on-the-market period
Nwitimes.com
But it's hard for sellers to be realistic about price in markets where bloated supplies exert downward pressure, explains Jeffrey Otteau, an East Brunswick, N.J., appraiser. Sellers shouldn't think backwards to what similar homes fetched months ago, Otteau emphasizes, but…
Don’t Say Mall: It’s a ‘Mini-City’
The Wall Street Journal / wsj.com
During the summer months, with people traveling to the Jersey shore, hundreds of thousands of cars pass by the proposed mall site each day, says Jeffrey Otteau, president of Otteau Valuation Group, an East Brunswick, N.J., appraisal and real-estate consulting…
Demographics Study Shows Declining Student Enrollment
Moorestown Patch / Moorestown.patch.com
Newer families are going to be smaller, she said of families in the next five to 10 years. "It's being predicted that one out of three couples are not going to have children," she said, citing information received from economist…
NJ real estate pros look for signs of recovery
The Real Deal / therealdeal.com
Sales, inventory and foreclosures are still in free fall and experts are now predicting that they may not reach rock bottom till 2013. Zillow also reported that New Jersey first-quarter median home prices had fallen 3.3 percent in 2011, a…
Real estate rebound will require jobs, time
Asbury Park Press / app.com
During the past year, Garden State home prices have fallen a full 9 percent. That's further and faster than our neighbors in New York (1.4 percent, 3.4 percent) and Pennsylvania (3 percent, 7.3 percent.)Elsewhere, an Otteau Valuation Group report showed…
Local home prices fall 6.9 percent
Asbury Park Press / app.com
And first-quarter figures released by Jeffrey Otteau, president of the Otteau Valuation Group Inc., a research firm in East Brunswick, showed only one of 21 New Jersey counties saw prices appreciate during the past year. Somerset County was up 2.6…
Home Market Takes a Tumble
The Wall Street Journal / wsj.com
Buyers who qualify for mortgages are demanding bigger discounts as added insurance against further declines in values. Sellers, meanwhile, are balking. More often, they don't want to take the first offer," says Jeffrey Otteau, president of Otteau Valuation Group, an…