Loading
Search
NEWS STORIES

Northwoods home sales and interest ratesSubmitted: 06/20/2013
Story By Adam Fox

Northwoods home sales and interest rates
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

LADYSMITH - he man accused of killing a Rusk County sheriff's deputy may go to trial.

44 year old Doug Nitek is accused of first degree murder in the death of Deputy Dan Glaze.

+ Read More

RHINELANDER - One Rhinelander man dedicated his life to giving back to the city and taking care of its natural resources. Now he's getting recognized for all his work.

+ Read More

WASHINGTON, D.C. - The Supreme Court is letting the Trump administration mostly enforce its 90-day ban on travelers from six mostly Muslim countries, overturning lower court orders that blocked it.

The action Monday is a victory for President Donald Trump in the biggest legal controversy of his young presidency.

+ Read More

LAKE TOMAHAWK - Lake Tomahawk's snowshoe baseball games provide entertainment throughout the summer for the Northwoods and visiting tourists.

2014 was the last time the field got new mulch. To prepare for this season, the league got a whole new field of mulch put in with help from the Pukall Lumber Company.

+ Read More

EAGLE RIVER - Before you head out on an outdoor adventure this summer, you might want to check your packing list.

Tom Stephens and his wife, Jessica Allen, own The Hiker Box in Eagle River.

They're used to helping people get ready for outdoor trips, including camping, hiking, or kayaking.

They say packing food, water, fire starters and emergency blankets are crucial.

Clothing is important, too, right down to what socks you wear.

+ Read More

Play Video

TOMAHAWK - A Northwoods racetrack plans to put on a world-class show for former NASCAR driver next week.

But the Tomahawk Speedway will now have several hours of extra work ahead of them after someone used the Tomahawk Speedway Sunday night when the track wasn't even open.

+ Read More

NORTHWOODS - One bird population flies high this summer. In the Northwoods, grouse numbers are up 30 percent.

+ Read More
+ More General News
Search: 





Click Here