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."
2011: Experts not predicting housing rebound
The Record / Northjersey.com
Any spring surge is likely to be modest and well below the 2010 surge driven by home buyer tax credits, Jeffrey Otteau, an East Brunswick appraiser who tracks the New Jersey real estate market, wrote in a recent report."
Deciding Whether to Buy or Rent
The New York Times
Using calculations based on sales data, Mr. Otteau deduced the following: After four years, the buyer of a $400,000 home, putting 3 percent down and obtaining a mortgage at 4.83 percent, will start to come out ahead of a renter…
Opinion: The Worst Is Yet to Come for NJ’s Foreclosure Crisis
NJSpotlight.com
They soon will be, according to Jeffrey Otteau, an East Brunswick-based analyst. He foresees a gusher of foreclosed properties, possibly a royal market mess" from thousands of houses dumped on the market at the same time."
A ‘Shadow Inventory’ Dampens Winter Market
The New York Times
According to his most recent report, 67,800 houses on the market in October had remained unsold for a month or longer. That was 10 percent more than in October 2009; concurrently, there were 9 percent fewer sales than in 2009.…