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…
N.J. real estate prices headed up
The Record / northjersey.com
New Jersey home prices have bottomed out and will rise about 2 percent this year, real estate appraiser Jeffrey Otteau predicted Monday. 'While things will get better from here, they're going to get better at a slow, steady and sustained…
Housing slump slams brakes on construction
Gannett / APP.com
To a home builder, the slowing down on the pace of construction is just good business, said real estate consultant Jeffrey Otteau, president of the Otteau Valuation Group in East Brunswick."
Optimism About the New Year
The NY Times
Statistically speaking, there are grounds for modest optimism that prices will trend upward in the near future, said the market analyst Jeffrey Otteau, whose Otteau Valuation Group continuously tracks sales data in 21 counties for real estate companies.