Loading

16°F

13°F

18°F

13°F

13°F

14°F

18°F

16°F

13°F

14°F

16°F

18°F
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

MINOCQUA - Many current high school students will need to know how to use the latest technology when they enter the work force. That means they need to have more than just math, writing, and science skills.

Some Northwoods high schools have started offering different classes that develop 21st century skills.

The Media Productions class at Lakeland Union puts on a live broadcast for the school.

+ Read More

ST. GERMAIN - The 13th Annual St. Germain Radar Run kicked off on Friday. The event draws thousands of people to St. Germain each year.

"Who doesn't want to see a sled going 135 miles an hour down a track or 169 [miles per hour], it's a lot of excitement," said Assistant Race Director Amy Greenberg.

"So many people come into town. The motels are full. The restaurants, the pubs are all full," said Race Director Mark Hiller.

+ Read More

WAUSAU - A 41-year old Wausau man faces charges for having sex with a six-year-old girl.

Christopher Burns is charged with two felonies for sexually assaulting a child. He's also charged with Child Enticement.

+ Read More

RHINELANDER - Firefighters in the Rhinelander area saved a two story home from going up in flames Friday.

Rhinelander Fire Department, Pelican Fire Department, Rhinelander Fire Department and Oneida County Sheriff's Office responded to a house fire at 6:51 a.m. Rhinelander Fire Department Deputy Chief Craig Metz says they got a call about a microwave fire, but when they got there, the entire kitchen was on fire. Metz said they knocked out the kitchen fire on the first floor, but it still made its way to the second floor.

They did save the home. The three people living in the home got out safely.

+ Read More

NORTHWOODS - The U.S. Forest Service will hire thousands of temporary workers this spring. Leaders at the Chequamegon Nicolet Forest Service want to hire more than 50 temporary employees to work during summer. They're looking for people with diverse backgrounds and plenty of experience.

+ Read More

RHINELANDER - Police squad cars get a lot of wear and tear. That's why they need to upgrade at least one of them every year.

The Rhinelander Police Department will upgrade its 2005 Chevy Tahoe to a 2015 Chevy Tahoe. Rhinelander Police Chief Mike Steffes says it's important to trade in one car each year.

"Driving around in the city we have city miles. So the vehicle is idling as squads are parked, for example running radar while they're out talking to people at scenes. The squad will sit idling."said Steffes. "We can't really turn it off because you have all the computer equipment and everything else that's inside of the vehicle. It has to stay either warm in the winter time or cool in the summer time."

+ Read More

RHINELANDER - Super Bowl Sunday is the holy grail of football.

This time last year, more than 113 million people were preparing to watch the Seattle Seahawks and the Denver Broncos battle for the Super Bowl title.

But it's what happens when the game stops that has experts talking.

Game time is primetime for the biggest advertisements of the year, many of which market alcohol with ads targeting teens.


+ Read More
+ More General News
Search: 




Click Here