Economists outline chilly forecast for N.J. housing market
NJBIZ
New Jersey's housing market is headed for a frigid fall and winter, according to Jeffrey Otteau, president of East Brunswick-based Otteau Valuation Group Inc., who said June home sales in New Jersey were down 27 percent, year on year.
Slower Sales After Home Buyer Tax Credit Ends
The New York Times / nytimes.com
Over all, there was a stunning reversal" in the pace of sales in May, according to analysis done by the Otteau Valuation Group, which reports on trends in state real estate. After the expiration of the federal tax-credit program for…
Gov. Christie vetoes $100M homebuyers tax credit bill
The Star Ledger / NJ.com
Jeffrey Otteau, an East Brunswick-based appraiser who studies the state's housing market, said the market took a big hit when the federal tax credit expired. 'Absent a stimulus to the housing market, home prices will decline further, which will put…
NJ Real Estate Expert: Homebuyer Tax Credit Program is Really Needed
New Jersey 101.5
Jeff Otteau, the President of the Otteau Valuation Group, says the tax credit measure 'is of vital importance to the housing market, and the New Jersey economy, given that since the expiration of the federal homebuyer tax credit - which…
Red Bank townhouse project may be the future for building
The Asbury Park Press / APP.com
Two board members who voted for the application said they were swayed by a report by real estate expert Jeffrey Otteau. He said the conditions of the current real estate and employment market call for smaller, more affordable units, such…
Another Courtyards Plan Wins Variances
Red Bank Green
In giving their approval, several board members alluded to testimony by real estate expert Jeffrey Otteau, who said a new economic reality" made adding retail square footage in town unwise, despite the view of town officials who last year touted…
Property Taxes Inhibit Sales in West Orange
The New York Times / nytimes.com
The backlog of homes would take eight and a half months to sell if no new listings were added, according to the Otteau Valuation Group, a market research company. That compares with a little over six months for the county,…
Absecon senior housing projects not selling, developers say
pressofAtlanticCity.com
Across the state, Otteau said there is a nine-month supply of unrestricted housing, but the current amount of age-restricted housing will take 180 months - 15 years - to sell out.It will not succeed," Otteau said of Visions. "It is…
Treading water
Asbury Park Press / app.com
This was a time when homeowners began to create an enclave that would shut out as much of the world as possible, said real estate consultant Jeffrey Otteau, president of Otteau Valuation Group in East Brunswick."