Jeffrey Otteau is one of the top home appraisers in New Jersey and if you are selling a house, you’re not going to like what he told a seminar for real estate agents on Monday: Home prices will fall another 6% in the coming year.
Otteau blamed the stagnant economy and New Jersey’s high foreclosure rate. “This is not a pretty picture,” Otteau was quoted as saying in The Record, “and it’s not what you would prefer to hear, but it’s what’s going on out there.”
