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…
‘Double-edged sword’ for real estate
NJBIZ
The foreclosure delays are a double-edged sword," said Jeffrey G. Otteau, president of Otteau Valuation Group Inc., an East Brunswick appraisal and consulting firm. Since the federal homebuyer tax credits expired in April, New Jersey home sales have fallen by…
Home sales continue to fall in South Jersey
Courier Post Online
Some observers predict more air will come out of prices. Jeffrey Otteau, founder of Otteau Valuation Group in East Brunswick, told a gathering of agents in East Hanover on Monday that he expects home prices in New Jersey to decline…
Appraiser: Home prices could drop another 6 percent in 2011
The Record
New Jersey home prices will drop another 6 percent in 2011, an East Brunswick real estate appraiser predicted Monday. This is not a pretty picture, and it's not what you would prefer to hear, but it's what's going on out…
Housing Gloom Deepens
The Record
Long after other parts of the country have burned off their excess foreclosure inventory, we will still be digesting ours, that's for sure, said Jeffrey Otteau, president of Otteau Valuation Group, an East Brunswick, N.J., appraisal firm."