October Updates
- Tong Real Estate
- 6 hours ago
- 4 min read
Hey Friends!
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Are you ready to dive into our October Blog together? There's plenty to cover and something for everyone, keep scrolling for...
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Creepy Critters Crawling into your HOME?š§What to know about Termites, Powderpost Beetles, Carpenter Ants & Box Elder Beetles.
Spooky low Mortgage Rates? š
Fall Festivities: Fun Local Events For Everyone To Enjoy
Cozy RecipesĀ for the Kitchen: Favorite meals from our Team member, Vanessa.
A Letter From The Team
LET'S DIVE IN!
Beware the Creepy Crawlies! šøļøšļø
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Recently, I was at a home inspection where we noticed that some of the trim around the windows and doors appeared to be rotted. At first, we assumed it was just wood rot from not being properly maintained and painted. Upon further scrutiny, the home inspectors present pushed the wood, and the trim just disintegrated. Their initial thought was potential termite activity.
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Because of Michigan winters, termites tend to be rare here- so this came as a surprise to me. Termites are so rare here in fact, that VA loans no longer require a termite inspection! That all being said, the next day we had a pest specialist come out to examine the areas in question, and it was in fact determined to be active termite activity.Ā
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Through the purchase and inspection process, we ended up learning A TON about termites and the warning signsĀ to watch out for.
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Did you know we have several wood eating insects here in Michigan? Unfortunately, our team has encountered all of them over the past couple of months.
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Read on to learn more about these potentially dangerous pests!Ā
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Termites ā āThe Silent Wood Eatersā šŖ¦š
Carpenter Ants ā āThe Silent Sawmillā šŖš
Powderpost Beetles ā āThe Ghosts of Hardwood Pastā šŖµš³ļø
Boxelder Bugs ā āFallās Unwanted Party Crashersā ššŖ²
Keep your home protected from Strange Things this October...
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Think of your home like a haunted mansion: some ghosts (boxelder bugs) are harmless but annoying, while others (termites, carpenter ants, powderpost beetles) can gnaw away at the very bones of the house. If you spot the signs listed above, document them (photos help), and contact a licensed pest professional for suspected structural pests (termite, carpenter ant, powderpost beetle). For nuisance fall invaders like boxelder bugs, preventative sealing and simple removal usually do the trick.Ā
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Concerned about a bug problem? Contact our team so we can help guide you to our network of trusted professionals.
After many moons of persistently high borrowing costs, mortgage rates are finally showing signs of creeping downward. This shift could usher in fresh energy into Michiganās real estate markets ā and itās a development both buyers and sellers should watch closely.
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While national mortgage rates still sit in the mid-6% range, there are early signs of easing...
According to Bankrate, as of early September, a 30-year fixed mortgage in Michigan hovered around 6.75 %, with a 15-year fixed around 6.00 %. Bankrate
Meanwhile, some Michigan credit unions are already experimenting with special promotions: one recently offered a 30-year fixed rate as low as 4.99 %Ā to members (though such deals often carry unique qualifying conditions) The Truth About Mortgage
On the national front, the average 30-year fixed mortgage recently dipped to approximately 6.13 %, its lowest in years, reflecting easing pressure in the broader market. CBS News+1
The Federal Reserveās recent 25 basis-point rate cut is helping fuel expectations for further reductions, which tends to pull mortgage rates lower over time. NerdWallet+2PBS+2
Analysts and commentators expect mortgage rates to continue gradually easing through late 2025, perhaps settling in the 6.2 % to 6.5 % range (barring surprises in inflation or economic data) Norada Real Estate+2CBS News+2
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Taken together, these signals suggest Michigan may begin to see more affordable mortgage options ā and soon.
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What It Means for Buyers & Sellers
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For buyers, even small drops in rates open up new possibilities.For sellers, it may be the moment to list before competition heats up.And for both, the next few months could reveal whether this āspooky dropā becomes a sustained trend ā or just a flicker in the shadows.
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Need to run the numbers? Take advantage of our free mortgage calculator tool to find out what a potential move could cost you in the future. Ask us about different mortgage rate programs, we'd love to get you connected to one that works best for your situation.
This fall, we invite you to āmake yourself at home in your community.ā These 10 picks are our favorite ways to get outside, taste local flavors, explore neighborhoods, and connect with friends & family in the Metro Detroit area.
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Click the button below to download our FREE fall exploration guide book full of highlights, tips for parking and recommendations.
I love spending Sunday's cooking and preparing meals for the week, of course this month we've been using all of the comforting & cozy ingredients in our kitchen.
Here's a recent favorite from our kitchen that has been a huge hit!
Tag us in your posts if you try them at home.š”
Butternut Squash Ravioli with Kale, Fresh Thyme, Grated Parmesan & Chicken Sausage
A fast 20 minute recipe that tastes like fall!
Click the PDF below to make it yourself!
A Closing Letter From Our Team
As we close out our October newsletter, we want to extend a heartfelt thank you for spending a little part of your day with us. Itās a joy to have you on this journey, and we truly appreciate your support and engagement. Whether itās sharing laughs over a cup of coffee or staying connected through our Facebook and Instagram pages, weāre excited to continue building this wonderful community together. So, what do you say? Let's catch up over coffee sometime soon! We (Nick, Bryan, Aaron, and Vanessa) are here, eager to connect and share this adventure with you. Until next time, take care!
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