New Apartments in the Suburbs Attract New Yorkers
New York Times
Until the pandemic, Hudson County, which includes Hoboken and Jersey City, was the top-performing real estate market in the state, according to Jeffrey Otteau, president and founder of Otteau Group, a real estate analytics and appraisal firm. But demand for…
New Yorkers Are Fleeing to the Suburbs: ‘The Demand Is Insane’
New York Times
“The demand has to come from somewhere, and we think most of that is coming from New York City,” Mr. Otteau said. “In some ways, this looks to me like the 1960s and 1970s, when there was a large outflow…
Winners and losers of NJ real estate market in the pandemic
NJ 101.5
“Office space demand is in for a very rough ride because it looks like employers are going to allow their staff to continue to work remotely from home some of the time or all of the time," Otteau said. “In…
5 Ways the Coronavirus Has Changed Suburban Real Estate
New York Times
“This was a life-altering series of events which likely made an indelible mark on everyone’s psyche, not unlike what happened after the Great Depression,” Mr. Otteau said. “That experience put an imprint on peoples’ minds that shaped their lives for…
Suburban New Jersey Homes Headed for Biggest Price Increase Since 2005
Bloomberg Quint
"This looks like the 1970s, which was a time when people were leaving the cities," Jeffrey Otteau, president of Otteau Valuation Group, said in an interview. "You had tremendous growth in places like Long Island and Westchester County, at the…
Bell Works in Holmdel massive question mark: Will tenants return?
Asbury Park Press
"In the end, I think this ends up being a net negative, but less of a negative for Bell Works than WeWork in Manhattan," said Jeffrey Otteau, president of the Otteau Valuation Group, a consulting firm based in Old Bridge.…
As home working takes root, are U.S. suburbs poised for post-virus revival?
Reuters.com
“If employers a year out say it was an interesting experiment but we benefit from people being eyeball to eyeball because we want the collaboration, then I think you’re going to start to see this swing the other way,” said…
Top 10 U.S. housing markets that could be hardest hit by coronavirus
Bankrate.com
“New Jersey has been one of the worst-performing states in terms of home price recovery coming out of the Great Recession,” Otteau says. “You have very thin equity levels, and you still have negative equity. And you layer on top…
New Jersey Home Prices Head for 12% Drop on Bottom-Feeder Feast
Bloomberg
Home sales in the state, second only to New York in coronavirus cases, may fall as much as 45% this year from 2019, while prices will drop as much as 12%, according to Jeffrey Otteau, president of Otteau Valuation, a…