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,"…
Condo Market Shows Improvement
The New York Times / nytimes.com
To the extent that condos are holding their own in this market, said Mr. Otteau, the president of the Otteau Valuation Group in New Brunswick, "the fact that they are less expensive than single-family homes has to be considered a…
Short sales repay stressed buyers with bargain prices
The Republic / therepublic.com
Banks are starting to realize that the faster they approve a short sale, the less of a loss they're going to have, since foreclosed homes typically sell for less than short sales, said East Brunswick, N.J., appraiser Jeffrey Otteau."
Lower-Priced Homes Lagging
The New York Times / nytimes.com
The supply of unsold inventory with asking prices under $400,000 was 26 percent greater than at this time last year, according to a new report by the Otteau Valuation Group, which analyzes multiple listing statistics. The time it would take…
Opening the door to buyers as spring market gets underway
The Record / northjersey.com
Jeffrey Otteau, an East Brunswick appraiser who tracks the housing market statewide, said there's an oversupply of housing for sale throughout New Jersey. At the recent sales pace, it would take more than 10 months to sell all the homes…
N.J. Future Facts
NJ Future / njfuture.org
Otteau's presentation focused on the impact these economic factors have had on the state's real estate market. Demand for housing dried up when the recession hit, only to rebound dramatically when homebuyer tax credits were offered from May 2009 to…
Rental Deal Set For 2,200 Homes
Wall Street Journal / wsj.com
Rental properties in central New Jersey are generally older, and there is an opportunity to make improvements that would increase pricing, says Mr. Otteau. "New supply will take several years to come to market, so the existing apartment complexes will…