Loading

62°F

61°F

62°F

57°F

60°F

64°F

62°F

65°F

60°F

63°F

65°F

62°F
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
What We're Working OnSubmitted: 04/27/2015

- A pair gravel pit mines could significantly change the look of one area in Lincoln County. The proposed mines would cover more than 100 acres south east of Tomahawk. We'll take a look at the issue coming up tonight at six.

- We'll give you an update on controlling a pesky species of aquatic invasives.

- And what would happen with a major gas line leak? WPS practiced scenarios today.

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

+ Read More

EAGLE RIVER - Many people enjoy freshly roasted coffee. But, the process to roast those coffee beans can be a science.

"We start with green coffee. It comes in 130 to 155 pound sacks of coffee," said owner of Eagle River Roasters Dan Beihoff.

+ Read More

WASHINGTON - The Supreme Court is struggling over when jail officials should be held accountable for using excessive force against inmates who are accused _ but not yet convicted _ of crimes.

+ Read More

MADISON - The legal fight over what type of identification Wisconsin voters can show at the polls and be allowed to cast ballots continues.

The American Civil Liberties Union and state of Wisconsin are still battling more than a month after the U.S. Supreme Court rejected a constitutional challenge to the state's voter ID requirement.

+ Read More

MADISON - The person who died from carbon monoxide poisoning at the Midwest Horse Fair in Madison has been identified as a Junction City man.

The Dane County Medical Examiner's Office said Monday 61-year-old Lloyd Taylor died at a Milwaukee area hospital. He was taken there after he was found suffering the effects of carbon monoxide in his camper outside the Alliant Energy Center April 17.

+ Read More

Play Video

RHINELANDER - People in the Northwoods got the chance to try a variety of beer, wine, and food on Saturday.

Hodag Hops and Vines was held in Rhinelander.

There were many different breweries from Wisconsin and the Midwest at the event.

The Rhinelander Area Chamber of Commerce relies on volunteers to help with the event.

+ Read More

NEPAL - A second Wisconsin man who went to climb Mount Everest survived an avalanche caused by the earthquake in Nepal.

+ Read More
+ More General News
Search: 




Click Here