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…
Single-family home prices decline 4.7% at the shore in the fourth quarter
Gannett / APP.com
Figures compiled by real estate consulting firm Otteau Valuation Group in East Brunswick offer a closer look at what is happening in Monmouth and Ocean counties. Home prices, including new houses and condominiums, in Monmouth County dropped in the fourth…
Builders Reassess the Market
The NY Times
'Traditionally, after past recessions, housing starts have doubled within two years,' said Jeffrey G. Otteau. 'Because of the severity of this recession, though, there may be lingering wounds.' Yet even in the face of these sobering numbers, several builders of…
Job growth, interest rates will drive home sales in 2010
NJBIZ / njbiz.com
It's a perfect storm, and it gets better from here,' said Jeffrey Otteau, president of Otteau Appraisal Group, an East Brunswick research and consulting firm that tracks the state's housing markets. Otteau's charts show contracts for home sales surged 55…