Loading
Search
NEWS STORIES

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


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
What We're Working OnSubmitted: 02/27/2017

- Tonight on Newswatch 12:

We take you live to Lakeland Union High School to preview tonight's girls' basketball regional finals as the Thunderbirds take on New London.

Flint's drinking water crisis in 2015 put a spotlight on lead water lines in communities across the country. Now, several local cities will get federal money to help replace lead lines. We'll tell some of the area cities that the state DNR selected to get the money for the upcoming year.

And if you can't make your way down south to celebrate Fat Tuesday, you won't have to travel too far to get in on the fun. We'll take you to a Minocqua restaurant that is hosting a Fat Tuesday food and wine pairing night.

We'll bring you the details on these stories and more tonight on Newswatch 12 - news from where you live.

+ Read More

MINOCQUA - Have you ever thought about starting a career in law enforcement? Every year the Minocqua Police Department hires someone to be a community service officer. The position lasts through the summer and is open to civilians.

The job mainly involves working foot patrol duties and enforcing downtown parking rules. But the position has a customer service aspect to it too. 

+ Read More

Play Video

RHINELANDER - The Oscars filled Sunday night with entertainment and a few bloopers. But for many Northwoods viewers, some of the winners were unfamiliar. 

"Moonlight," "La La Land," and "Fences" all walked away as major winners in Sunday night's Academy Awards.

+ Read More

Play Video

MINOCQUA - Minocqua Brewing Company is hosting a Fat Tuesday food and wine pairing night on Feb.28. 

The New Orleans staple, beignets, will top the food list.

+ Read More

MERRILL - Fire alarms went off at the Lincoln County Jail early Sunday morning.  It turns out there was no fire, but quite the mess for jail workers to clean up.

+ Read More

Play Video

WISCONSIN - Flu season peaked earlier than usual this year in Wisconsin. The flu season usually runs from October to May the number of cases peaking in March. This year, the flu started to peak mid-February. Last week alone there were nearly 1,000 cases in Wisconsin. At that time last year there weren't even 200 cases. 

Each year the flu virus is different, which means a different vaccine. The vaccine is not completely effective, but people who get the flu vaccine are still more likely to avoid the flu than those who don't.

+ Read More

MADISON - A key Republican legislator says Gov. Scott Walker's plan to cut University of Wisconsin System tuition could hurt taxpayers that and lawmakers should instead consider letting the system raise tuition according to inflation or income increases.

+ Read More
+ More General News
Search: 





Click Here