Even as the snow falls and holiday cheer fills the air, the real estate market doesn’t take a break. December brings a flurry of insights to help you navigate the unique challenges of buying and selling homes during winter.

This season, we’re tackling pressing questions like the perfect timing for your final mortgage payment, festive tips for staging your home to dazzle buyers, and innovative strategies for selling on a budget.

Plus, we’ve got expert advice for buyers on picking the correct loan officer, making savvy waterfront investments, and staying cool amid housing market crash rumors. Dive into the winter wonderland of real estate wisdom and make your next move with confidence!

When Do You Stop Paying Your Mortgage When Selling?

Best Real Estate Articles December 2024

Best Real Estate Articles December 2024

At times, the selling process can seem chaotic or confusing. The mortgage can be particularly confusing if you aren’t familiar with the steps involved. One potential worry could be about when to make your last loan payment.

You’ll want to avoid making an unnecessary payment when your finances are already stretched. You also don’t want to miss your final payment. If you do, your credit score will take a big hit, which could compromise your new mortgage. Any change to your financial situation before the closing date could put your new mortgage application at risk.

Bill Gassett explains everything you need to know to understand your loan obligations better. Your mortgage stops on the closing date, and you must keep making monthly payments until then.

Bill advises you to pay your mortgage even if the closing is just a few days after your payment date. If you have overpaid, this should be refunded at closing or shortly after. Your mortgage lender or attorney will confirm the final amount due or refunded.

Understanding the process before you sell your home can be very important. This topic isn’t often covered, but it is something you will need to know when selling. Bill’s article clarifies these concerns, giving you a better understanding of your responsibilities in the selling process.

Have You Chosen a Bad Loan Officer?

The mortgage and the loan officer you choose can make a massive difference to your finances and your stress when you buy a home. If you choose poorly, you could pay considerably more than you need to. But it could even lead to worse problems than that.

Luke Skar highlights the potential problems you could face and the steps you should take to avoid unnecessary stress. Luke reveals that some unscrupulous loan officers might appear to offer excellent terms, but in reality, you’ll end up paying more than other loans.

There have even been cases of loan officers encouraging borrowers to lie on their application forms. While this could help you get a bigger loan, it could also help you get jail time. Though this is an extreme example, it emphasizes how choosing the first loan officer you find could be a mistake.

A lousy loan officer is more likely to cause stress because of delays or a failure to respond when you try to contact them. If they aren’t very good at their job, there could be errors in the terms and conditions of the loan.

These problems could delay your purchase, cost you money, and add to the stress of buying a home. Luke shows you what to look for when applying for a mortgage to avoid these problems.

Should You Fear a Housing Market Crash?

If you are considering buying a new home, the fear of a market crash could become the focus of your attention. But is a housing market crash on the horizon?

Chris Highland discusses the reasons why a housing price crash is unlikely. Since the 2008 housing crisis, there has been a mismatch between the number of homes constructed and the demand. Builders aren’t meeting demand, and this isn’t something that will change anytime soon.

Chris details the many issues that affect builders and prevent them from meeting demand. There is a shortage of labor, which continues to slow construction times. Since COVID, building materials costs have risen sharply, meaning new home prices continue to increase.

Many factors contribute to the continuing strength of the housing market. If you have any concerns, this article explains why a crash remains unlikely.

Selling Your Home During the Holiday Season

If you are selling your home in the festive season or winter, there are a few more things to consider. While many homeowners love to decorate for the holidays, how does this affect your sale?

Andrea Erickson on the Tuscan Properties blog reveals the best ways to showcase your home during the holiday season. She recommends using your seasonal decorations to highlight and not hide the features.

If there are large windows, frame them with a string of lights or choose a wreath to hang in the center. Make the most of a fireplace with candles, stockings, or a string of lights.

Whether planning a holiday gathering or just trying to attract more buyers, the home should feel cozy while still making the most of open space. Soft furnishings and warm lighting will make your home feel more comfortable. A seasonal fragrance with candles or diffusers can also make the property more welcoming to guests.

Andrea suggests keeping some balance when you sell your home during the holidays. Don’t overdo the decorations so that your home’s features are enhanced, not hidden. If you follow her advice, selling your home during the festive season should be more successful.

Selling on a Budget

Preparing your home for selling will make it easier to find a buyer and get the offer you want. But preparing your home can seem impossible if you don’t have the available budget to spare.

Paul Sian offers valuable advice to sellers on a budget so that they can attract more buyers. There are many things that a seller can do to improve their home that don’t cost much.

Unpleasant odors can quickly put off a buyer, but even if the home has a pleasing fragrance, that might not help. Paul details why it is better to have no smell in the house and how to ensure this doesn’t affect your sale.

If you have the time but not the money to make a few changes to your home, Paul’s advice should help you sell for more.

Buying a Waterfront Property

Have you ever dreamed of living on a waterfront property? There are many reasons to live by the water, but there are also more things to consider than property in other locations.

The blog post on Coastal Realty Group’s site offers some things to consider if you want to buy on the waterfront. They suggest hiring a real estate agent with experience dealing with waterfront properties so they will know what to look for. This should help you avoid some of the pitfalls with this type of home.

The post also suggests considering your reasons for wanting to live in this location. Perhaps you love to fish, or you want to buy a boat, or maybe you just love walks along the beach. Whatever your reasons, considering your lifestyle will help when searching for the right waterfront home.

However, despite the many reasons for choosing a location like this, there can be downsides. Maintenance is often more important since the property is more exposed to the elements. This can mean higher insurance premiums with more extensive protection.

If you consider living by the water, read this article first.

Are Real Estate and Real Property the Same?

While you might think using the terms “real estate” and “real property” interchangeably is fine, they have different meanings. Real estate means land, buildings, and natural resources.

Property also includes the physical assets of real estate but adds the legal rights associated with ownership.

Kevin Vitali further defines these terms and delves into the importance of real estate. Real estate significantly impacts our lives, from the places we call home to where we work and everywhere in between.

Real estate constantly changes, reflecting technological advances, societal changes, and homeowners’ demands. Kevin highlights the importance of being aware of these trends whether you are planning to buy your first home or are a seasoned real estate investor.

Kevin’s article also defines real estate’s components, how it benefits the economy and some of the legal aspects you might encounter. Whether you are new to the housing market or need a refresher, Kevin’s article will give you some things to consider.

Final Thoughts

Whether you’re gearing up to sell your home amidst the holiday hustle or planning your grand entrance into the housing market, this month’s must-read articles are packed with valuable insights.

From avoiding costly blunders to navigating the complex world of real estate with ease, our expert advice will keep your stress levels low and your confidence high.

Given the significant financial stakes, understanding every step of the process is essential to avoid costly mistakes. So, cozy up with some hot cocoa and dive into the wisdom of industry experts—your future self will thank you!

View other roundups from the last few months to get educated on numerous topics.

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Luke Skar About the author: Luke Skar wrote the above roundup of the best articles from December 2024. Luke is a 20+ year veteran of the mortgage industry. He strives to stay updated with the latest changes and trends in mortgage lending and real estate.

Through his mortgage blog, websites, and social media accounts, he aims to help the community with as much factual knowledge as possible that benefits all parties in real estate transactions.