Costs, land availability fuel South Jersey’s growth, experts say
NJBIZ
More undeveloped land in South Jersey was a major factor in the region's growth over the past decade, said Jeffrey G. Otteau, president of Otteau Valuation Group, an East Brunswick-based consulting and appraisal firm. During the housing boom from 2000…
Home Prices Sink Further
The Wall Street Journal
We're still running at half speed, said Jeffrey Otteau, president of Otteau Valuation Group, an East Brunswick, N.J., appraisal firm. "Sales are below year-ago levels and inventory is higher than it was a year ago." Far-flung suburbs continue to fare…
Round of ‘musical chairs’ seen in N.J.’s office space market
The Star-Ledger/ NJ.com
The office vacancy rate in the fourth quarter of 2010 stood at 14.2 percent, the worst in 15 years and up from 14.0 percent the previous year, according to figures from the East Brunswick-based Otteau Valuation Group.
North Jersey home prices outpace paychecks
The Record / northjersey.com
Jeffrey Otteau, an East Brunswick appraiser who tracks housing markets around the state, said that North Jersey, especially Bergen County, has always been a costly market because it's so close to New York City. And the rebound on Wall Street…
Real estate experts cautiously optimistic about the spring market
Mycentraljersey.com
You have to remember that in November and December 2009, the tax incentives were in place, but in November and December 2010, they weren't, Otteau said. "So the fact that they were down only 10 percent from the previous year…
As Inventory Rises, More Towns Make the ‘Cold’ List
The New York Times / nytimes.com
As Jeffrey G. Otteau, the president of the analytic group, pointed out last fall, it is almost unfair to lump the southern half of New Jersey with the northern part when weighing relative market health. This is mostly because of…
Expert: Lengthy N.J. foreclosure process magnifies poor ‘noncurrent’ rate
NJBIZ
The result is that New Jersey takes several years while other states get it done more expeditiously, Otteau said. "What [the statistic] amounts to is a cumulative count of foreclosures that have been going on over the past several years.…
Rising foreclosure rate will ‘haunt the state for years,’ expert says
NJBIZ
New Jersey's job recovery has lagged behind national job creation - at least, until recently - which likely helped to drive foreclosure filings, said Jeffrey Otteau, president of East Brunswick-based Otteau Valuation Group. "Also, in 2009, the state had a…
Rising mortgage rates don’t faze market expert
NJBIZ
Despite the recent rise, rates are still relatively attractive on a historical basis, said Jeffrey Otteau, president of East Brunswick-based Otteau Valuation Group. "To the extent they stay in the affordable range, the interest rate change shouldn't pose a problem."