Why New Jersey’s Soaring Foreclosures Are Good for the Housing Market
The Wall Street Journal / wsj.com
Foreclosures are surging in New Jersey, and that could be a boon for the state’s housing market. While bank repossessions across the U.S. fell to an 11-year low in 2017, they reached an 11-year high in New Jersey, according to…
Condo Developers Bet Jersey City Will Be the Next Brooklyn
The Wall Street Journal / wsj.com
"Jersey City has arrived as the seventh borough, behind the other five and Hoboken," said Jeffrey Otteau, an appraiser and president of Otteau Group Inc. "It is now an appendage of Manhattan, and is experiencing a Brooklyn-like trend on the…
Why are new strip malls being built all over New Jersey?
New Jersey 101.5 / nj1015.com
According to real estate expert Jeff Otteau, president of the Otteau Valuation Group, this is happening for a couple of reasons. When a major retail store wants to establish a presence in a local market, they'll make a deal with…
North Jersey becoming an apartment haven
North Jersey / northjersey.com Otteau said he expects these housing trends to continue as local elected officials are now more likely to see higher-end apartment complexes as net revenue generators — that is, the taxes paid on the site are…
The 5 most competitive places to buy a home in New Jersey
There's a couple of reasons as to why new housing inventory has slowed down in the last few years, according to Jeff Otteau, president of the real estate appraisal firm Otteau Group. First of all, homeowners are staying in their…
Where are rents rising faster than Manhattan: Would you believe Oak Tree Road in Iselin?
NJBIZ / njbiz.com
"While rents are not nearly as high as Manhattan, they are higher than other suburban markets, vacancy is extremely low and rents are rising rapidly … faster than most NYC submarkets," Otteau said.
Home Sales Brisk in New York City’s Suburbs
The New York Times / nytimes.com
And in the inner-ring New Jersey suburbs closest to Manhattan, the markets are so brisk that many have less than three months' worth of inventory, according to Jeffrey Otteau, the president of the Otteau Group, an appraisal and advisory firm.…
High-end, multi-family developments popping up in Central Jersey
My Central Jersey / mycentraljersey.com
"There has been a fundamental shift in housing preferences here in New Jersey ” away from single family homes and towards multi-family housing," said Jeffrey Otteau, president of Otteau Group, an information provider on real estate trends.