Builders seek to lift age limits
The Record / northjersey.com
A large number of age-restricted communities were proposed during the housing boom because it was easier to get municipal approvals, since these projects don't increase the school population. As a result, some analysts say, the market became saturated with 55-and-up…
Expert says housing trends could help Somerville
The Home News Tribune / MyCentralJersey.com
Many will seek to own or rent smaller homes in higher density communities with access to mass transit and where shopping and eating opportunities are just a walk away, according to Otteau, whose firm provides clients with project feasibility and…
Builders conference in A.C.: McMansions are dead
The Courier Post / CourierPostOnline.com
The next crop of first-time buyers will be earning 17 percent less than their parents earned 30 years ago, so luxury housing is severely troubled, said Otteau, one of three panelists to offer sober predictions about the future of New…
Luxury Condos for Princeton
The New York Times / NYTimes.com
Currently, there is very little on the market in Princeton Borough, which is an independent community within Princeton Township. The inventory of homes for sale is two and a half months, which Jeffrey G. Otteau, a real estate industry consultant,…
Housing experts predict a bumpy road back
The Star-Ledger / NJ.com
And some estimates push that number to more than 6 percent by 2011, chipping away at affordability. That will assure that our housing market will be constrained for a very long time," said Jeffrey Otteau of the Otteau Valuation Group,…
Multiple Bids, but Not Exactly a War
The New York Times / NYTimes.com
It is very gradual, in the low single digits, Mr. Otteau said. "While historically, coming out of a recession, prices go up 5 to 10 percent in the first year, this year so far we are seeing a couple of…
Multigenerational households increase as more families seek savings
Star Ledger / NJ.com
In New Jersey, the economic forecast is particularly onerous, said Jeffrey Otteau, a real estate analyst. Most private-sector jobs are being replaced by lower-paying public-sector jobs, and the state's high-tax climate is squeezing residents. 'The natural solution to all of…
Red Bank residents oppose apartments plan
Asbury Park Press / APP.com
This generation needs something affordable, he said. "Projects that target luxury and big spaces will not be viable in the new economy going forward." With pricing to be "well below" $300,000, the mixture of one- and two-bedroom units, including some…
In New Jersey, No Consensus on Foreclosure Problem
The NY Times
Jeffrey G. Otteau, sounded a similar note on the quality of available statistics. The numbers from the various sources do not square," was how he put it. Mr. Otteau quoted data from RealtyTrac, a company based in Irvine, Calif., that…