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

Play Video

RHINELANDER - Usually when we think of people fighting world hunger, collecting food donations and other community service events come to mind. But a group of kids from Rhinelander are fighting world hunger a different way.

On Sunday, 14 people, including kids in grades five through 12 and some of their parents, set out on a weeklong 250 mile bike ride to raise money. They're all part of Rhinelander's Immanuel Evangelical Lutheran Church.

Pastor Tammy Barthels says this is a great way for kids to learn about world hunger.

+ Read More

RHINELANDER - This year community members hit the pavement for the 11th Annual Hodag Run for Your Life on Saturday.

The event includes a half marathon, a 10K, a 5K, and even a "Chase the Hodag" run for kids. Organizers say the Hodag chase is always a big hit with kids.

+ Read More

Play Video

PHILLIPS - Being a part of a community can mean support and lasting relationships. That's true for many people living in Price County.

This year, the annual county fair needs the community's help more than ever. On Saturday, a Community Day was held on the fairgrounds in hopes of raising money.

+ Read More

THREE LAKES - The Three Lakes Shoot Out and Fly-in brings out hundreds of people every year.

One man spent years observing the boat races, but in the past few years has become an active member of the Fly-in side of the event.

+ Read More

MARSHFIELD -
Police need help finding a missing and endangered Marshfield woman. 46-year-old Anna Ineichen was last seen around 10:30 p.m. Thursday night.

Her vehicle was found off Highway 54 near Dexterville at about 3:30 Friday morning. 

+ Read More

MADISON - MADISON, Wis. (AP) â€" Madison police say a 52-year-old man is dead after a stabbing in an apartment.

Officers were called to a four-unit building on West Badger Road about 5:30 a.m. Saturday. The victim was dead at the scene. Police say he was stabbed multiple times.


+ Read More

MADISON - MADISON, Wis. (AP) â€" Wisconsin researchers are trying to learn more about an invasive fruit fly that has been threatening berry crops in the state since 2010.

University of Wisconsin fruit crop entomologist Christelle Guédot tells Wisconsin Public Radio (http://bit.ly/2sLfQEH) that researchers started trying to pinpoint when and where the spotted wing drosophila is most active within plants last summer.



+ Read More
+ More General News
Search: 





Click Here