Price Cuts Spur Home Sales
The Wall Street Journal
We're looking for a very tepid spring market, said Jeffrey Otteau, president ofOtteau Valuation Group, an East Brunswick, N.J., appraisal firm. Mr. Otteau doesn't expect prices in New Jersey to bottom out before the second or third quarter of this…
The Shore’s economy is expected to slump in 2009
Asbury Park Press
The Shore's economy is expected to slump in 2009 as weary consumers deal with job insecurity, shaky home prices and depleted investments. The housing sector has yet to stabilize. Home prices statewide on average have fallen about 20 percent from…
First-time buyers make hay in housing drought
The Star Ledger
No one should be surprised the real estate market has turned to sawdust. Home sales in New Jersey are expected to finish 2008 at just 68,000, down 20 percent from the 85,000 sold a year ago, said Jeffrey Otteau, president…
As Wall Street suffers, so does nearby New Jersey
Reuters
The Wall Street upheaval that has depressed New York City's high-flying real estate market is also slowing property sales and lowering prices right across the river in the state of New Jersey. At the current pace of sales, which in…
Housing Inventories on the Rise
The New York Times
A new assessment of the region prepared by the Otteau Valuation Group presents a generally unlovely picture of residential sales markets: Manhattan now has an 11.8-month supply of unsold inventory, said Jeffrey G. Otteau, whose Old Bridge, N.J., company analyzes…
Transitions Made Easier
The New York Times
Statewide, the pace of residential sales has continued to decline each month since July, according to the latest report from the Otteau Valuation Group. In Essex County, for example, the average time a house spent on the market was 73…
Retiree Havens Turn Younger to Combat the Housing Bust
The Wall Street Journal
In New Jersey, the age restrictions have been lowered or dropped for at least nine new projects, while an additional 10 planned developments were scrapped altogether, says Jeffrey Otteau, president of Otteau Valuation Group Inc., a real estate market-analysis firm…
Board OKs Alfieri’s housing, retail plans
Suburban
Alfieri's professionals proposed that the board allow him to finish the residential component of the development first, since his marketing consultant, Jeffrey Otteau, testified that the market for housing is more likely to rebound first in the current economic decline.…