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

RHINELANDER - Oneida County Sheriff Grady Hartman wants the job for another term.

Hartman submitted his nomination papers to the county clerk's office on Monday.

+ Read More

Play Video

RHINELANDER - DNA evidence from a pair of sweatpants could link a Northwoods man to a violent sexual assault. Prosecutors offered up some of that evidence against Richard Loppnow in Oneida County court on Wednesday morning.

The victim accuses Loppnow, 38, of forcing her into several sexual activities twice on his property south of Eagle River back on October 28 and 29th of 2017.  

The criminal complaint shows the first assault happened in a building on Loppnow's property.  Testimony revealed claims that Loppnow held a gun to the victim's head.

"[Loppnow was] advising that she could either be humiliated or shot in the head," Oneida County Detective Sergeant Ryan Rossing testified.  "She chose to be humiliated due to not wanting to be harmed."

After later moving to a mobile home trailer on the property, the victim claims Loppnow pointed a sawed-off shotgun or handgun to her head and gave her several options.

+ Read More

LINCOLN COUNTY - The Lincoln County Sheriff's office found $1,000 worth of meth in a Merrill man's car. 

Police pulled over the 29-year-old's car because he had a felony warrant for his arrest. The man's name is being withheld until he's been formally charged. 

+ Read More

RHINELANDER - Interim Rhinelander City Administrator Keith Kost turned in his resignation Wednesday to take effect immediately. 

Kost took over the position in February 2017 after former administrator Kristina Aschenbrenner was fired in August 2016.

+ Read More

Play Video

MERRILL - People keep asking Northwoods veterans officers the same question.

When will the new national cemetery near Rhinelander open?

At an information session in Merrill on Wednesday, the VA said design plans are about 35 percent done. But a John Knapp, a VA representative, couldn't give a timeline on when construction might start or finish.

He said it depends on the contractor, the weather, and approval from the VA.

+ Read More

TOMAHAWK - Lemon Bar and Strawberry Rhubarb Cobbler can be more than just bakery desserts.

They're flavors at one Tomahawk ice cream shop.

The Windmill Ice Cream Shoppe will open its doors at 2:00 p.m. this afternoon.

Owner Pat Berg says a couple of people will be already waiting in line for the door to be opened.

+ Read More

NORMAL, IL - Over the last year, the Red Cross responded to a record number of hurricanes, floods, mudslides, and other natural disasters.

But the organization says it's helped more people from single-family house fires than all other disasters combined.

Red cross supporters got together in Illinois last night for the 25th annual Evening of Stars.

Aaron Rodgers headlined the event.

+ Read More
+ More General News
Search: 





Click Here