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

Play Video

CRANDON - Every school in Wisconsin teaches its students the basic academic subjects--math, science, and reading. Few schools set aside forgiveness as a special area of study.

High schoolers in Crandon will get a weekly class on forgiveness this year.

This summer, Superintendent Dr. Doug Kryder spoke at an international conference on forgiveness in Jerusalem.

+ Read More

Play Video

WAUSAU - Nowadays, Marge and Wally Engel spend their nights playing Scrabble inside their home in Wausau's Primrose Retirement Community. But that wasn't always the case.

"I've been with him for 77 years," said Marge. "It's been quite a long time and I must say enjoyable, and I'm very thankful that we are still together."

+ Read More

Play Video

CONOVER - Three years ago, Vilas County decided to turn land near Torch Lake into a campground.

Tuesday those plans became reality.

"It's great in Conover. What more could you ask for," said Vilas County Supervisor Art Kunde. 

After nearly three years of planning and building, Kunde was finally able to officially open Torch Lake Campground Tuesday. 

+ Read More

MADISON - Gov. Scott Walker says he and Republicans who control the Legislature have reached a deal "in principle" over transportation funding and other issues to end an impasse that's held up passage of the state budget.

Walker said Tuesday that the deal does not include any gas tax or vehicle registration fee increases.

He also says there will be a reduction in the personal property tax favored by the state's business community, but not a full repeal.

+ Read More

GREEN BAY - A Green Bay police captain and a secretary needed to be checked at a hospital when they got sick after after opening an envelope.

Police Chief Andrew Smith says the police station was evacuated Monday afternoon.

The heating and air conditioning system was shut down while the fire department investigated.

+ Read More

KEWAUNEE COUNTY - A man has been shot and killed by a sheriff's deputy in Kewaunee County.

Sheriff Matt Joski says the incident happened about 8 p.m. Monday in the Town of Franklin.

+ Read More

Play Video

TOMAHAWK - "This is the original sign that was on the building in 1929," said Tim Panfil as he pointed to a Rock Falls Rod and Gun Club sign.

Panfil wasn't a member of the club back then, but over the last 12 years the club has become a second family to him.

"It's the comradery and the friendships you build here. If you can't come here and make friends, you don't want any friends," he said.

+ Read More
+ More General News
Search: 





Click Here