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

Play Video

RHINELANDER - A Northwoods teacher is being recognized for connecting her students with the world. 

Linda Goldsworthy, a social studies teacher at Rhinelander High School, won the second annual Global Educator of the Year Award. 

She is the only teacher in the state to win the award.

+ Read More

Play Video

ARBOR VITAE - People who suffer from memory loss often don't want to talk about what they're going through. But volunteers hope a new program in the Northwoods will help people reach out and get help.

The Lakeland Memory Cafe opened for the first time Thursday at Peace Lutheran Church in Arbor Vitae.

+ Read More

Play Video

PARK FALLS - People in Park Falls can look forward to a summer of major road construction in the city's downtown. After it's done, they can look forward to a more appealing downtown layout.

But for several months, the work will literally split the city in two.

+ Read More

VILAS COUNTY - Update:

We now the names of the people involved in a deadly crash that happened in Boulder Junction on Tuesday.

The crash happened at the intersection of Highway 51 and County Highway H just after 3:30 p.m.

+ Read More

Play Video

MERRILL - The T.B. Scott Free Library first opened its doors back in the 1800s. Light bulbs had been invented just 10 years prior.

Now, another technological advance will help the Merrill library go solar in the next few months.

+ Read More

Play Video

EAGLE RIVER - Northwoods emergency workers should find some small comforts of home when they're out fighting fires or running search-and-rescue operations for hours at a time.

The area's Salvation Army Emergency Radio Network--or SATERN--now has a mobile canteen trailer. The trailer can carry food, beverages, and radio equipment.  Mississippi-based sports drink company Sqwincher had the trailer sitting around and donated it to the Salvation Army.

+ Read More

RHINELANDER - Rejection can be difficult for anyone to handle.

A Rhinelander woman faced rejection four times already. But Dawn Knudsen plans to try again a fifth time.

"I'm not going to give up in life," said Knudsen.

This is the fifth time she'll be auditioning for NBC's The Voice. The reality show is a singing competition with celebrity judges

+ Read More
+ More General News
Search: 





Click Here