Loading
Search
NEWS STORIES

Northwoods home sales and interest ratesSubmitted: 06/20/2013

Adam Fox
10 p.m. Anchor/Reporter
afox@wjfw.com


RHINELANDER - We can often judge how the economy is doing, by the strength of the housing market.

Things have been rough since the housing bubble burst in 2007.

Buyers and sellers are just starting to feel good again.

But how long will that feeling last?

Dave Olson's house has been for sale for a year.

He hasn't hired a broker.

But he thinks this is the summer to sell.

"You know that there are people out there buying homes, so there are more people looking than maybe what there was a year ago," Olson said.

That's optimism that homeowners in the Northwoods haven't felt lately.

Kim Brixius has been selling homes for 16 years.

This winter was her best ever.

She thinks that's because a historic opportunity is almost closed for good.

"The interest rates and the historically low values," Brixius said. "I think it's driving people to realize if they wait much longer, they're gonna miss out."

Interest rates are historically low because the Federal Reserve is buying bonds to keep them there.

But Fed Chairman Ben Bernanke says if the economy continues to improve, they will slowly step back.

"If the incoming data supports the view that the economy is able to sustain a reasonable cruising speed we will ease the pressure on the accelerator by gradually reducing the pace of purchases,"Bernanke said.

Brixius thinks that would bring Wisconsin home sales to a screeching halt.

"All that could put the brakes on the buyer situation, so then sellers may be waiting a lot longer than they thought,"Brixius said.

Regardless, Olson is staying positive.

"I'm very optimistic," Olson said. "I'm thinking one that the market should be getting better; it has to be getting better."

And hopefully the Northwoods won't have to experience another housing burst anytime soon.

Text Size: + Increase | Decrease -
| Print Story | Email Story
Sponsored in part by HodagSports.com





 IN OTHER NEWS

MILWAUKEE - The FBI says a Milwaukee woman added to its Ten Most Wanted Fugitives list this week has been arrested in North Carolina.

Twenty-four-year-old Shanika Minor is accused of fatally shooting Tamecca Perry and her unborn child in Milwaukee last March.

+ Read More

RHINELANDER - If you shopped at Walmart in Rhinelander this summer, you probably noticed things weren't where they usually belong.

That's because crews were busy giving the store a fresh, new look.

+ Read More

MADISON - A new judge will be taking the bench in Marathon County.

The governor's office has named attorney Gregory Strasser to serve as a judge in Marathon County Circuit Court, replacing outgoing Judge Greg Grau.

+ Read More

PORTAGE CO. - A 47-year-old Almond man now faces charges for his 5th OWI, according to the Wisconsin State Patrol.

Nicholas Felella was arrested by the Wisconsin State Patrol's Wausau Post.

+ Read More

MANITOWOC - Police have arrested a Manitowoc woman after she allegedly pulled a gun on a man during an argument over a duck.

USA Today Network-Wisconsin reports the 69-year-old woman approached her neighbor on Wednesday evening in attempt to show him that she didn't have his duck.

+ Read More

BOULDER JUNCTION - Six months ago, Roger Zerbe had never tried beard balm. But when he went to go buy some, he ran into some difficulties.

"We drove all over Wausau trying to find some, and we couldn't find any," said Zerbe.

Instead of just ordering some off the internet, Zerbe and his girlfriend, Dana Buehler, decided to make their own.

+ Read More

EAGLE RIVER - A woman will need to recover after colliding with a car on her bicycle Thursday night near Eagle River, according to the Vilas County Sheriff's Office.

The woman was riding south on Highway 45 when she tried to turn onto Evergreen Road. That's when a southbound car collided with the bicyclist.

+ Read More
+ More General News
Search: 




Click Here