Report: Future bright for Center City housing
The Philadelphia Inquirer
In the post-recession economic cycle, Otteau said, incomes will actually drop, and affordable housing will be concentrated in urban areas. Two-thirds of households will have no children at home, energy costs will rise, and vertical construction in the downtowns [will…
Home run
The Asbury Park Press
The $8,000 tax credit has increased home sales not only in the first home-buyer price range of under $400,000, but across the entire market, Otteau said. It's because, statistically, a first-time home buyer's purchase can trigger four other simultaneous home…
Soaring Above the Crisis
The Philadelphia Inquirer
The residential market's upper end is also the toughest sell - continuing fallout from last year's collapse of the financial system. For homes in the region priced at $2.5-million-plus, there was 122 months' worth of unsold inventory in the second…
N.J. housing construction up, but permits at a low
NJ.com/The Star Ledger
Builders feel like, going forward, they'll need more houses to sell, not fewer, said Jeffrey G. Otteau, the head of the Otteau Valuation Group, which analyzes real estate industry trends. "They're actually starting to spend money to prepare for an…
First Signs of Recovery
The NY Times
WHERE do signs of a housing market recovery show up first? In New Jersey, the answer is: in the northern part of the state, in relatively affluent towns, especially those with train stations. Recoveries first take root in what we…
The new estates on the block
The NY Times
Statewide, enough homes are on the market to last for nine months, compared with the six-month equilibrium of a healthy market, according to the Otteau Valuation Group, an East Brunswick appraisal and real estate data firm. But the supply of…
Savvy Buyers Seek the Shore
The NY Times
THE pace of residential sales in the shoreline counties of Ocean and Monmouth has wavered a bit this summer — cresting in June over the year before, then staying flat in July. But if you look only at the subset…
N.J., Northeast real estate sales rise, signaling a bottom
NJ.com/The Star Ledger
The state has seen signs of a bottom of the market, and perhaps a turnaround, for a few months, according to data from the Otteau Valuation Group, an appraisal and analysis company that studies New Jersey real estate.
N.J. foreclosures rise 31 percent during first half of year
NJ.com/The Star Ledger
Foreclosed homes tend to drag down the value of nearby houses, especially when there are many in a single neighborhood. But Jeffrey Otteau, whose firm Otteau Valuation Group compiles and analyzes New Jersey housing market data, said the continued foreclosure…