CRE MARKET FORECAST: Predictions from industry experts
Real Estate NJ / re-nj.com
"2017 is shaping up to be another good year for New Jersey's real estate markets despite the state's 'worst in class' economic performance in 2016. Those real estate sectors that are attached to the new 'sharing economy,' like apartments and…
New Jersey Tops National Foreclosure List For Second Consecutive Year
The Wall Street Journal / wsj.com
Jeffrey Otteau, an appraiser and president of the Otteau Group Inc., said the New Jersey foreclosure data also reflected the state's weak economic performance since the last recession. In 2015, he noted, household income rose 0.4% in the state, compared…
Demand dips for highest-priced North Jersey homes
The Record / northjersey.com
Appraiser Jeffrey Otteau of East Brunswick, who tracks the real estate market statewide, said that at the current sales pace, Bergen County has 3.5 years' supply of homes priced at more than $2.5 million. By contrast, the county has only…
Home prices in N.J. slower to climb than previously thought, report says
The Star Ledger / nj.com
Jeffrey Otteau of East Brunswick-based Otteau Valuation Group told NorthJersey.com the slow pace at which home sales are increasing in New Jersey is to blame. Otteau once expected prices to peak in 2018, 2019 or 2020 but he revised that…
New Jersey home prices to rise 3% this year, forecaster says
The Record / northjersey.com
A Bureau of Labor Statistics report on Thursday said New Jersey gained 3,300 private-sector jobs in September, however, the state is creating jobs at a slower pace than in 2015. "Whether the economy is creating jobs and how much those…
Appreciating the value of your home
Central Jersey / mycentraljersey.com
Otteau cautioned that these county figures only reflect the median price of a home, which is a convenient marker but not a complete representation of the facts. "You have a lot of homes selling, but the homes this year are…
Bidding Wars in the Suburbs
The New York Times / nytimes.com
But there, "the housing market is looking better than it has in a very long time," said Jeffrey Otteau, the president of the Otteau Valuation Group in East Brunswick, N.J. Among the briskest markets are Hoboken, Glen Ridge, Maplewood, Montclair…
N.J. housing expert sees 4 percent rise in prices this year
The Record / northjersey.com
"Job creation fuels home purchases," appraiser Jeffrey Otteau of East Brunswick, who researches the real estate market statewide, told an audience of real estate agents in Hasbrouck Heights.
Exclusive: What is your home worth?
Courier Post / courierpostonline.com
"Jeffrey Otteau, an East Brunswick-based real estate consultant, said the number of home sales in New Jersey is one of several positive signs. He expects a 13 percent increase in home sales between 2014 and 2015, bringing it to its…