That is very helpful Jeff! Thank you!
Reducing that number as you instructed, brings the value very close to where I expected it to be.
Your Ask Jeff feature is such a great tool to have! Looking forward to the spring workshop!
Thank you for your thoughtful and sobering presentation yesterday on a challenging and sensitive topic - the impact of Covid-19 on New Jersey Real Estate markets. I haven't seen a presentation of this caliber since I worked at DRI, a subsidiary of Standard and Poor's (now called Global Insight) here in Lexington, Massachusetts. Your presentation's data, analysis of the data and measured forecast for the future set a new benchmark for American Planning Association presentations.
One of the best webinars on the impacts to real estate during these uncertain times. It offered an abundance of information and verified a lot of things that planners have been speculating about the future of various land use categories, from the demand for open space, trend toward dedicated space for home offices, the need for larger logistics buildings for e-commerce, immediate changes needed to assist restaurants in staying afloat, and much more. Thank you for a great presentation.
I want to let you know that my last 2 listings developed into sales because of the Listing Market Graph. In each case I presented the red curve in my opening presentation. I stressed that this graph showed the results of thousands of NJ listing and closing data and that it was irrefutable. In each case I called 1 week after listing and said it was time to drop the price 5%. Some expected verbal hesitation, but we soon had a signed price change. 1 week later I said “no written offers” so we are going to drop the price another 5%. Now we got some counter offers that could be bid up. Finally a shoot out for best offer and we selected the winner.
Your graph was presented on Day 1 and a week later as I pushed for price reductions. The graph is a powerful tool IF it is presented early and referred to regularly.
My question today is, how many thousands of records substantiate this graph? It’s very powerful and eventually Sellers acknowledge the reality of the market data.
Thanks for your great info.
Your guidance on this development project made the difference between a financial loss and a successful outcome. Thank you for your invaluable contribution.
Our bank has utilized Otteau Group for over 10 years during which they have provided exceptional service. Their appraisers and staff are responsive, timely and efficient with solid experience behind every report.
In addition to the appraisal services, we utilize their MarketCAST services for underwriting and risk assessment. The services and information offered by the Otteau Group goes far beyond many ordinary appraisal firms. They are one of our most respected appraisers and we value our long-lasting relationship.
Loretta, Commercial Banker
I went on the appointment and showed him that the new construction came down in price because the market rejected the significantly higher differential…I used many of your charts during the presentation, subscribe to the MarketTRAC so I get the data by town and have attended your CMA Workshop. It's no longer good enough to print out comps from the MLS. You really need to know your stuff in order to stand out. I got the listing. They were going to call 2 more agents. But, after my presentation, they sent me a text a few hours later and gave me the job.
I am pleased to inform you that the Plaintiff has offered to withdraw all damages claims and settle the litigation. No doubt, your appraisal report and compelling testimony were key factors in this outcome.
It has been a pleasure to work with the people at Otteau Valuation, all of which I have found to be professional, responsive and downright nice.
Scott, Commercial Banker
Thank you so much for all of your help during out tax appeal hearing on Tuesday. It was plain and clear that you outclassed the opposition in every way despite the nasty tricks they used to try and trip you up. Your adherence to the “high road” and “data oriented” approach worked out very well. I walked out with high confidence that we will get a positive result thanks to you.
John, Property Owner
We have worked with Otteau Group for the past 27 years and found them to be extremely efficient, professional and timely. In addition to appraisal services, they provide semi-annual and annual forecasts to our Board of Directors and Senior Managers to assess risk in real estate lending.
Stanley, Commercial Banker
First off, I wanted to say...it was the third time I have been to one of your presentations...and your knowledge continues to amaze me. On a personal note, in my role as a visiting MBA professor, I see many teachers struggle with that which you have made an art: making the complex both simple enough to understand and enjoyable enough to remember.
Your seminars are the best value for the money of ALL the many I attend every year. I come out feeling like I've seen the future, or at least the likely future. In these economic times, unlike any I've ever known, your insights are more important than ever and make me a better planner.
This is great data.
Nicholas, Fannie Mae
Your mastery of the market is impressive.
Steven, Investment Banker
Our bank has worked with the Otteau Group ("Otteau") for over 15 years in providing high quality real estate appraisals on a timely basis. They have a broad range of expertise including a wide variety of property types. Otteau is also a great resource for highly respected real estate market information in the State of New Jersey including their MarketCAST service. Jeffrey Otteau is always willing to share his experience and expertise if we have any questions on a particular property type or segment. We also retained Jeffrey to assist in our Loan Review staff with great results. Our relationship with Otteau is one that we value greatly and look forward to maintaining for years to come.
Brian, Commercial Banker
Thank you for all of the hard work that you and your staff put into the assembly of the OTTEAU Report…..All they have to do to stay on the cutting edge is subscribe to your report! I consider your reports to be the "definitive word" in tracking RE trends in our area!
Dave, College Professor
I am extremely grateful for the data and forecasts you offer at these seminars. It makes me a better realtor and a much better asset to my clients and customers. It is by far the best return on investment that I have seen in this business.
Thanks so much for putting together such a great seminar. You not only answered questions about pricing that I had been wondering about since I started in the business, but also, you were able to communicate all this information with clarity. I look forward to your upcoming lectures...
I have personally worked with the Otteau Group for many years spanning a wide variety of asset classes including office, retail, multifamily, industrial, construction, single family residential and specialty assets. All their appraisers are highly knowledgeable and the team has always made themselves available to provide valuable insight into the properties and their markets. The level of reporting has always been comprehensive and detailed. Compared to the reports of other high caliber appraisal firms I have found the reports provided to be of the highest standard.
Anthony, Commercial Lender
Thanks again for your clear and succinct evaluation and assessment of our NJ markets. You captured and made clear a lot of information and your ongoing 'Right Pricing ' analysis is a tremendous tool for agents and sellers as well.
I have attended Jeff's seminars for since becoming an agent in 1998 and find him to be an invaluable source of information that I openly share with my clients. He has been right on at every turn and has helped me with some difficult situations.
I think that when they saw you testify (and saw the previous cases as well) they recognized your professionalism. I was impressed with the way you handled the hearing as you outclassed them at a game that favors the assessor.
The knowledge I gained from your seminars gave me the confidence I was looking for. I am able to explain the market to my clients with the understanding of why and where the real estate market is going. I am very thankful!