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.…
Fewer apartments for rent
APP.com
What is significant here is that they are no longer falling. They have turned the corner. They are starting to rise, Otteau said. "Rent concessions have been disappearing and vacancies have been falling. We're still in tough times, but there's…
Today’s real estate market calls for dire divorce decisions
NJ.com / The Star-Ledger
Lawyers said they have had to develop a more focused approach in an economy that, according to real estate valuator Jeffrey Otteau, has seen the inventory of unsold homes in New Jersey climb 10 percent from last year.
Demand Grows for Over-55 Rentals
Nytimes.com
The New Jersey housing market analyst Jeffrey G. Otteau has pretty much sounded a dirge for active senior" condos, calculating an inventory build-up that would take more than 13 years to sell. He said that demand for rentals was likely…
Christie Scrapping Tunnel Brings $5 Billion Wage Loss, Threatens Montclair
Bloomberg.com
Home prices in communities such as Montclair that are served by New Jersey Transit rail lines offering direct access to Manhattan's Penn Station rose an average of 6 percent last year, said Jeffrey Otteau, president of the Otteau Valuation Group…