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

PRICE COUNTY - Price County blames 43 years of road salt for a high-traffic bridge starting to fall apart.

Corrosion has eaten away at the Highway H bridge over the Elk Lake Chain in Phillips, and work started Tuesday to replace an aging bridge deck.

Price County Highway Commissioner Don Grande often got calls about the condition of the bridge.

"I would say right now it's weekly," he estimated. "'Hey, when are you going to fix that bridge? What's going on with that bridge? Why does the bridge look so bad?'"

+ Read More

Play Video

EAGLE RIVER - People living in Eagle River could see a dog park sometime in the near future. 

"It'll take some work to get it done, but I think in the long run, once it's done it'll be very good for the community and it'll be very well used," said Ron Kressin, who's leading the project. 

+ Read More

RHINELANDER - Earth Day can be a good time to reflect on the "health" of the world around you.

Nicolet College's Sustainability Fair focuses on all things green this weekend.

This year's theme is Sustainability where you would least expect to find it.

There will be about 40 booths at the fair ranging from gardeners to investment brokers…and even green funerals.

+ Read More

RHINELANDER - A Minocqua man pleaded not guilty Thursday to a murder from 1982. 

Robin Mendez was charged with homicide in February in the death of his wife. 

+ Read More

RHINELANDER -  A class of second graders at Crescent Elementary School in Rhinelander turned a lesson plan into a life lesson. The students helped provide clean water to villages in Africa after learning about pollution.
"They couldn't believe kids their age didn't have access to a faucet with running water," said Prom.
"A lot of people walk a lot of hours to get their water," said eight- year- old Ava Sadak.
The class decided to take action. They raised money for three weeks during their lunch break.
"Every time a customer came up to get cookies and lemonade it just felt great," said eight- year- old Wyatt Crowell. 

"Every penny we raised went to those filters," said Prom.
The Rhinelander students learned directly from people who understand the impact the filters will have on certain countries in Africa Thursday.
Members of Wild Intentional Leadership Development stopped by the school to thank the students for the 16 filters that they'll bring back to Africa and taught them about the continent.
"For us that goes way beyond what we expected," said Wild Intentional Leadership Development Regional Director Rev. Henry Mukonda.
"Feels great that we're helping people and knowing that we're providing clean water," said eight- year- old Taylor McKinney. 

+ Read More

Play Video

RHINELANDER - Rubber gloves, a fingerprinting kit, and evidence bags all made it look like a serious crime happened in a room on the Nicolet College campus in Rhinelander on Thursday morning, but Kobe Gallion was pretty much just playing pretend.

"Yeah, it's fun," Gallion said of the investigative work.  "It's like a big puzzle, really, that's all."

The Crandon High School senior worked with classmates to take blood samples and lift fingerprints at Nicolet's "Crime Scene Investigation" station while competing against another school.

+ Read More

MADISON - The state Department of Justice will prosecute a Taylor County sheriff's detective for releasing records of two unsolved murders to producers of a national television show.

Sergeant Steven Bowers is accused of felony misconduct in public office.


+ Read More
+ More General News
Search: 





Click Here