With an asking price of $68 million, Alpine home is one of the nation’s costliest
The Record / NorthJersey.com
It's a tough time to be selling a luxury home, since those sales have slowed in North Jersey since the financial crisis of fall 2008. Last year, only three homes costing more than $5 million sold in Bergen County, down…
Vacation home buyers slowly returning to Jersey Shore
The Record / NorthJersey.com
An analysis of nine shore towns by the Otteau Valuation Group in East Brunswick found that the number of sales was down, often dramatically, in most areas. But the price picture was spotty, with some towns - especially in the…
55 and older a tough sell for Visions at the Shore
Shore News Today
The idea was that baby boomers would be retiring with unprecedented wealth and retiring earlier, said Otteau, a trend analyst who did most of the presentation. "None of that has come to be. Instead there is a narrow, shallow pool…
Shore housing market suffers
Courierpostonline.com
Wildwood is an overbuilt market with too much product and is likely to struggle for a very long time, said Jeffrey Otteau of Otteau Valuation Group, an East Brunswick-based real estate analyst. While New Jersey currently has a nine-month inventory…
N.J. home prices increase in first quarter
The Star Ledger / nj.com
The increase reflects sales that were buoyed by record-low mortgage rates and the first-time homebuyers' tax credit, said Jeffrey Otteau of the Otteau Valuation Group. Statewide, the median price was $273.060, or 1.4 percent higher than the same period last…
Home prices in area rise; another sign of recovery
Asbury Park Press / app.com
Figures compiled by the Otteau Valuation Group help show what is happening in Monmouth and Ocean counties. The median first-quarter home price in Monmouth County rose 6.8 percent over the same period a year earlier to $346,563, said Jeffrey Otteau,…
Builders Rethink ‘Active Adult’ Housing Label
The New York Times / nytimes.com
It is not a trend, or a sign of a significant uptick in the market for active-adult residential, said Jeffrey G. Otteau, a real estate analyst. In the State Legislature last year, his company, the Otteau Valuation Group of New…
Homebuilders have a new mantra: Small will sell
The Star-Ledger / NJ.com
New homes will continue to shrink, according to the Otteau Valuation Group in East Brunswick. Homes that are being planned now are about 200-square-feet smaller on average than at the height of the housing boom at 2,650 square-feet in 2007,…
Short Sale Basics
The Home News Tribune / MyCentralJersey.com
While the state's economy has lifted itself out of a recession, short sales are not over. With mortgage delinquency rates at about 10 percent, homes in short-sale situations represent about 15 percent of the unsold inventory in the market, Otteau…