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

PHILLIPS - Police want to figure out what caused the death of a 16 year old girl in Phillips.

Officers were called to an apartment in downtown Phillips with a report of a medical emergency.

The call was made about 6:00 Thursday morning, after the girl was found not breathing and unresponsive.

She was determined to be dead, but there was no apparent cause.

An autopsy was requested by the Price County Coroner.

No foul play is suspected, but the death remains under investigation.

+ Read More

Play Video

MINOCQUA - Things don't always go well out on the water. That's why Oneida County has a specialized dive team ready to respond whenever there's an emergency.

But funding the dive team is expensive. Saturday, community groups came together to help raise money for the team at the Minocqua Swim Challenge.

+ Read More

Play Video

CRANDON - Pounding rain, howling winds, and flashing lightning�"not the most ideal conditions for camping on Saturday night.

In fact, Saturday night's bad weather couldn't have picked a worse time for thousands of people to set up camp at the Crandon Race Track.

"We were holding onto the awning last night," said Keegan Kincaid, a racer from Crandon. ."It was pouring."

"Our canopy [got] rained [on] so much we had to keep pushing it up so it wouldn't collapse," said Paul Posbrig, a fan from Green Bay.

"It was coming in all over," said Jessie Braden, a fan from Richfield.

But for Crandon fans, the rain certainly didn't dampen the weekend.

"But we made the best of it," said Braden, who comes to Crandon every summer for the Brush Run.

"We had a canopy at one point and put up tarps on the walls as we got downpoured on and it was all windy," Braden said. "If we're going camping, it's going to rain!"

The fans also got their fair share of noise because the rain didn't really affect the race schedule.

"We just had to wait a little bit longer before we could put crews out on the track," said the raceway's announcer, Dave Mullins. "So needed it to dry off a little bit first. But really it was only about a half hour."

But it certainly changed the racers' strategy.

"And so you'll see a lot of changes in trucks and driving styles," Kincaid said.
"Figure out the track, sort out where the grip is, where it's wet, where it's dry," said Arie Luyendyk, Jr., a racer from Arizona.

But Crandon's track is pretty resilient.

"Most tracks we wouldn't be able to race on it the next day, but Crandon has a lot of clay," Kincaid said.

"Because this is a clay track, it doesn't absorb the water as much, it makes it more like a mud pit," Mullins said.

Sunday's nice weather quickly brought the track's conditions back to normal.

"I thought we were going to be racing in the mud, but turns out because of the sun and wind we're actually going back to our setup we had yesterday," Luyendyk, Jr., said. 

+ Read More

WOOD COUNTY - A motorcycle crash seriously hurt a man late Saturday night.

According to the Wood County Sheriff's Office, it happened around 11 p.m. in the Township of Biron.

Police think the motorcycle driver was making a slight turn on County Highway U and passed another car. 

That's when the motorcycle driver lost control, went off the road and hit a tree. The driver was thrown off the 
motorcycle.

Crews took the man to St. Joseph's Hospital with serious injuries, and they don't yet know the status of his condition. No other people were on the motorcycle.

Police also think speed and alcohol could have played a part in the crash. They are still investigating and will not yet release the name. 

+ Read More

Play Video

RHINELANDER - Lumberjacks returned to Rhinelander Saturday for the 3rd annual Boom Lake Log Jam.

The event celebrates the city's logging history while showing off both old and new lumberjack skills.

+ Read More

PRICE COUNTY - A truck versus train crash killed a woman late Saturday morning.

According to the Price County Sheriff's Office, it happened at the intersection of County Road D and the Canadian National Railroad tracks in the Township of Knox.

Police think a 76-year-old man was driving the truck with a 76-year-old woman in the passenger seat, and the truck and the train collided.

Several different agencies responded, including Canadian National Railroad investigators.

Crews took the man to St. Joseph's Hospital in Marshfield, and they took the woman to Aspirus Hospital in Wausau where she later died.

Police are still investigating and will not yet release the names.

+ Read More

GREEN BAY - Prosecutors have charged a 26-year-old man accused of fatally stabbing his ex-girlfriend and her mother and injuring a third person in the Green Bay area.

Jacob Cayer of Ashwaubenon was charged Friday with two counts of first-degree intentional homicide. WLUK-TV reports Cayer also is charged with attempted first-degree intentional homicide, burglary, and bail jumping.

+ Read More
+ More General News
Search: 




Click Here