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…
In Jersey Shore Subset, Top-Heavy with Pricey Homes
The New York Times / nytimes.com
Manasquan, the most southerly of the three towns, typically has a somewhat larger sale inventory than Spring Lake. At the beginning of April, according to the Otteau Valuation Group, a New Brunswick company that compiles monthly real estate reports, 118…
NJ’s economy improves, but housing market still faces price declines
Asbury Park Press / app.com
But even with modest improvements to the state's economy, the housing market in the Garden State remains in the weeds. Sales are running less than last year,'' said Jeffrey G. Otteau, president of Otteau Valuation Group in East Brunswick. "We…
How to pick a home contractor
Asbury Park Press / app.com
Generally, home improvements cost more than they add to the value of a home, said Jeffrey G. Otteau, president of Otteau Valuation Group in East Brunswick. You do increase the value of your house, but less than what you spend,"…