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

WAUSAU - The Marathon County Sheriff's Office has released the names of two people who were killing in a Sunday car crash.

Rudolph Schleif, 88, and Emily Schleif, 87, were killed from injuries in the crash.

+ Read More

Play Video

MERRILL - Going back to school can be a fun time. A school in Merrill wants to make sure its students stay safe.

Trinity Lutheran Grade School makes sure its students know the importance of crosswalk safety. 

"Once they're outside, they're usually pretty good," said Jeff Holt, a teacher and the school's safety patrol advisor. "Again, understanding how important it is following the safety rules. They see what could potentially happen if they don't."

+ Read More

Play Video

MERCER - A few times, people in Mercer almost gave up.

For years, they had dreamed of a paved hiking and biking trail that would improve the look of their town, provide a new recreational outlet, and connect to the trail system in Vilas County.

More than once, it looked like it might not happen.

+ Read More

Play Video

WAUSAU - Golfers in Wausau know their money will go to a good cause after Monday.

The Marshfield Clinic teamed up with Furniture and Appliance Mart for their 14th annual Fore a Cure golf outing.
 
The outing raises awareness and money for breast cancer detection equipment.

+ Read More

Play Video

MINOCQUA - Successful Lac du Flambeau mixed martial artist Frank Schuman found himself in trouble with the law again last week.

Schuman is charged with 11 counts related to battery and domestic abuse in Vilas County.

+ Read More

Play Video

MERRILL - From your neighbor to local volunteers, you can call many people in your community a hero. Now, you can give back to those who are making a difference.

Merrill Sheet Metal Works is a part of the Bryant Community Heroes program for the second year in a row. It's giving away a free Bryant furnace to someone in the community.

+ Read More

WOOD COUNTY - An 18-year-old Wood County man will spend more than a decade in prison for killing a woman last fall.

A jury found Miguel-Angel Oertel guilty of killing 47-year-old Theresa Coates at her home in Saratoga last August.

+ Read More
+ More General News
Search: 




Click Here