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Home Appraiser Predicts Prices Will Fall Further


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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.”

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Virginia Citrano
Virginia Citranohttps://myveronanj.com
Virginia Citrano grew up in Verona. She moved away to write and edit for The Wall Street Journal’s European edition, Institutional Investor, Crain’s New York Business and Forbes.com. Since returning to Verona, she has volunteered for school, civic and religious groups, served nine years on the Verona Environmental Commission and is now part of Sustainable Verona. She co-founded MyVeronaNJ in 2009. You can reach Virginia at [email protected].


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