Foreclosure’s slow pace masks peril
The Daily Record
Foreclosure filings are, in a word, stalled in the proverbial pipeline. The problem likely will linger longer in New Jersey than in other states for two reasons, according to Otteau, who pointed out the Garden State lost 33,000 private and…
In Some Places, Multicar Garages Are Standard
The New York Times / nytimes.com
Jeffrey G. Otteau, whose Otteau Valuation Group provides market analysis for brokers and builders, emphasized the socioeconomic component. In more affluent communities, where people have larger homes and also tend to own more expensive cars, multicar garages are more or…
Experts: Slow recovery will affect redevelopment trends in N.J.
The New York Times / nytimes.com
The lack of housing affordability in New Jersey helped the multifamily market improve consistently and dramatically" last year, even with the expiration of the homebuyer tax credits, said Jeffrey G. Otteau, president of Otteau Valuation Group, an East Brunswick-based appraisal…
Wealthy Areas Again See Rise in Home Prices
Wall Street Journal / wsj.com
The picture is cloudier in New Jersey, where the income ranges can vary more widely. Jeffrey G. Otteau, an appraiser and president of the Otteau Valuation Group, found that median prices statewide rose 1% between 2009 and 2010.
A Low Tide for Home Sales in the Shoreline Market
NY Times / nytimes.com
Price trends, on the other hand, appear to be breaking in unusual directions. A look at sales statistics from the last two years indicates that towns on beaches are doing less well than their counties-at-large, according to Jeffrey G. Otteau,…
Life without Fannie, Freddie worries some
Asbury Park Press / app.com
Jeffrey Otteau, president of Otteau Evaluation Group in East Brunswick, said more stringent loan-underwriting standards will be permanent under this report. He is also concerned that without the government support, the banks will want to reduce risk by making loans…
Developer seeking changes in housing unit plan
The Time of Trenton / NJ.com
At last month's meeting, housing analyst Jeffrey Otteau was one of the experts testifying on behalf of Sharbell. He told the board the traditional link in the state between new home construction and school enrollment no longer exists."
Median home prices up about 7%, but number of sales down
Mycentraljersey.com
This slight increase in home prices in 2010 is not likely to continue this year, into 2011, and what we're likely to see this year are some modest declines in prices, somewhere up to as much as 5 percent, Otteau…
Empty Nests
Daily Record
We spent decades in New Jersey building primarily the houses people in New Jersey will not be wanting, Otteau said, referring to the classic four-bedroom suburban home that no longer suits an increasing number of households without children."